What's next after Biden blocked the $15 bln Nippon Steel/US Steel deal?

President Joe Biden blocked Nippon Steel’s $14.9 billion acquisition of U.S. Steel citing national security concerns, impacting the companies' plans to form the world's third-largest steelmaker. The decision faces opposition, with Nippon Steel considering legal action, while alternative buyers like Cleveland-Cliffs may re-emerge. The move also raises potential tensions in U.S.-Japan relations.