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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?

Another Joe from Delaware—the one finishing up his final days in the White House—apparently sees himself in the same light, having stepped in to nix a $15 billion deal between U.S. Steel and Japan’s Nippon Steel.

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.

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.

What most sticks out about Biden’s trade legacy is just how little trade it involved. Instead, as we’ve documented here at Capitolism repeatedly, the era was one of U.S. stasis or outright retreat from the global stage. For example:

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

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

President Joe Biden announced a major opinion Friday ... But there are a few fronts where Biden and Trump are on the same page. The president blocked the sale of US Steel to Japan’s Nippon Steel, a rare area of agreement between two men.

Activist investor Ancora has nominated nine candidates to U.S. Steel's board of directors, as it looks to oust company CEO David Burritt and push the American steelmaker to back out of a $14.9 billion merger deal with Japan's Nippon Steel.

An asset manager is seeking to quash Nippon Steel’s takeover of U.S. Steel and oust the leadership of the U.S. steelmaker after taking a stake in the company.

The activist investor also intends to rally shareholders around a plan to oust US Steel’s top boss David Burritt, says a Wall Street Journal report.