The onetime dynamo is fighting to revive a takeover by Nippon Steel. Other tie-ups could also face obstacles, and going it alone could force cutbacks.

U.S. Treasury Secretary Janet Yellen said on Wednesday that Nippon Steel's planned acquisition of U.S. Steel received a "thorough analysis" by an interagency review body that was sent to President Joe Biden,

There are two separate lawsuits, including one against rival Cleveland-Cliffs and the president of United Steelworkers.

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.

Sen. Mitch McConnell (R-Ky.) argued President Biden is selling out to Big Labor by blocking the sale of U.S. Steel to Japanese-owned Nippon Steel. “The Biden administration will leave America’s core economic and national-security interests less secure than it found them,