Nippon Steel said it wouldn't be deterred by Biden’s decision last week to block its $15 billion bid for the storied U.S. steelmaker.

Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.

The Japanese firm’s planned purchase of its U.S. rival was blocked last week by President Joe Biden after a year of diplomatic tension, political debate and lobbying efforts from the companies and unions. Biden, who had previously said he opposed the tie-up, cited national-security risks, despite Japan being a close ally.

The companies argued in a lawsuit announced on Monday that Biden violated the Constitution by blocking the merger via a sham national security review that deprived the companies of their right to a fair process.

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.

Secretary of State Antony Blinken lauded the close economic and security partnership between the US and Japan after a controversial move by US President Joe Biden to label Japan’s Nippon Steel Corp. as a national security risk.

US Secretary of State Antony Blinken insisted during a visit to Tokyo on Tuesday that ties with Japan were stronger than ever, days after President Joe Biden blocked Nippon Steel's takeover of US Steel.

US Secretary of State Antony Blinken was in Japan on Tuesday for talks expected to address North Korean missile launches, but President Joe Biden's blocking of a steel deal is straining the allies' warm ties.