Nippon Steel President Tadashi Imai is weighing suing the U.S. government after a deal to buy U.S. Steel was blocked by President Joe Biden late last week, according to a report. Now that the planned $14.

Shares in Nippon Steel fell more than 1% on Monday after U.S. President Joe Biden blocked its proposed $14.9 billion acquisition of U.S. Steel, dampening growth prospects for Japan's largest steelmaker.

By blocking a Japanese company’s takeover of U.S. Steel, President Joe Biden said he was protecting good jobs in the American heartland. He may be putting them at risk instead.