If I am Donald Trump, how am I going to rebuild the military if I have less steel and steeper costs for steel imports than my predecessor?

The bid by Japan's Nippon Steel to buy U.S. Steel may have a new lease on life after the Biden administration extended a deadline for the Japanese steelmaker to abandon plans to acquire the storied Pittsburgh company after President Joe Biden blocked the deal.

TOKYO (Reuters) - The hearing for a lawsuit that Nippon Steel and U.S. Steel brought against U.S. President Joe Biden's administration is scheduled for February and March, Kyodo news agency reported on Monday, without citing sources.

President Joe Biden on Jan. 3, 2025, issued a blocking order (the Order) addressing the proposed acquisition of United States Steel Corporation

Last week, Nippon Steel and U.S. Steel filed two lawsuits after U.S. President Joe Biden blocked a $14.9 billion buyout of the American steelmaker by the Japanese firm. President-elect Donald Trump takes office on Monday.

In these final actions of his presidency, Biden is asserting his domestic and foreign-policy principles before Trump takes charge.

U.S. Steel shares jumped Monday on a report that Cleveland-Cliffs is teaming up with rival Nucor for a potential bid for the company, whose $14.1 billion buyout by Nippon Steel was recently blocked by President Joe Biden.

The trial for Nippon Steel Corp.'s lawsuit seeking to nullify U.S. President Joe Biden's decision to block its $14.1 billion takeover

United States Steel Corp. shares rose Monday after cable financial news channel CNBC reported that Cleveland-Cliffs Inc. and Nucor Corp. are considering a takeover bid of the American steelmaker.

Cleveland-Cliffs offered the company roughly $7.3 billion for a buyout in July 2023, though it was rebuffed. In a lawsuit filed earlier last week, U.S. Steel and Nippon say Cleveland-Cliffs conspired with the United Steelworkers Union to put pressure on Biden and the regulatory process to steer the deal back into its hands.

President Joe Biden used his farewell address to the nation Wednesday to warn of an “oligarchy” of the ultra-wealthy taking root in the country.

Japanese firms invested almost $800 billion in the United States in 2023, more than any other country, and 14.3% of the total, according to official U.S. data.