U.S. Ambassador to Japan Rahm Emanuel on Thursday played down concerns over the potential repercussions from President Joe Biden's decision to block the $14.1 billion acquisition of United States Steel Corp.

The president said he was moving to protect national security in deciding the fate of the iconic Pennsylvania-based company, which became a contentious political issue in an election year.

President Joe Biden on Friday announced he has blocked the controversial $14.9 billion sale of US Steel to Japan's Nippon Steel, citing a strategic need to protect domestic industry.There was rare bipartisan agreement on the issue,

President Biden is reportedly blocking the deal between U.S. Steel and Japan's Nippon Steel. CBS News contributor Javier E. David has more.

The companies condemned the president's decision and hinted at taking legal action, while U.S. Steel's CEO accused Biden of "political corruption."

President-elect Trump has also opposed Nippon Steel's $15 billion acquisition of U.S. Steel, which President Biden blocked last week.

President Biden stood next to Gov. Gavin Newsom and pledged full federal support as fires burned through Los Angeles County. President-elect Donald Trump took to social media and blamed 'Newscum.' Mexico’s president has signaled to Donald Trump that she can play the regional renaming game,

Mr. Biden says he blocked the $14 billion takeover of U.S. Steel by Japan's Nippon Steel on the grounds the sale was a threat to national security.

Citing national security concerns, President Joe Biden blocked the $15 billion international sale of U.S. Steel to Japanese company Nippon Steel on Jan. 3, 2025. In a joint statement after the announcement U.