Blocking Nippon Steel from acquiring U.S. Steel lays the groundwork for a major consolidation of American steelmaking that will harm consumers and the economy.

America Reports' panelists Lou Basenese and Dan Greenhaus unpack why U.S. Steel and Nippon Steel are suing the Biden administration.

Nippon Steel and US Steel filed suit Monday over US President Joe Biden's decision to block the Japanese giant's proposed acquisition of its American rival, accusing his administration of "illegal interference" in the huge transaction.