U.S. Steel and the Japanese firm that had sought to acquire it are suing the Biden administration after the president announced he was blocking a proposed deal for the iconic American manufacturer. U.S. Steel and Japan's Nippon Steel said in a release Monday that President Joe Biden 'ignored the rule of law' in order to gain favor with United Steelworkers, the union representing many of U.S.
In announcing his veto of the deal, Biden said shifting the firm out of American hands would undermine critical supply chains and put jobs at risk. The Treasury committee, as well as Treasury Secretary Janet Yellen and Attorney General Merrick Garland, are also named in the suit. Representatives for the Biden administration and Cleveland-Cliffs did not immediately respond to a request for comment about the suits.
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