here is the boss of nippon steel speaking. is the boss of nippon steel speaking-— is the boss of nippon s-ueakin. , ., . speaking. due to the illegal olitical speaking. due to the illegal political intervention - speaking. due to the illegal political intervention by - political intervention by president biden, the committee for foreign investment in the united — for foreign investment in the united states fails to review it properly. it has led to the presidential order. we can never_ presidential order. we can never accept it. what president—elect trump has said is that— president—elect trump has said is that he — president—elect trump has said is that he wants to make manufacturing strong again. and enrich _ manufacturing strong again. and enrich the — manufacturing strong again. and enrich the lives and future of manufacturing workers and working _ manufacturing workers and working class people. this is exactly — working class people. this is exactly in _ working class people. this is exactly in line with what we are doing. exactly in line with what we are doing-— exactly in line wi

>> i'm first waiting for nippon steel to get out of the way and once nippon steel gets out of the wayve an all american solution ready to be deployed, fully financed. maria: thank you. we'll be watching your work. thanks so much. lourenco goncalves joining us, cleveland-cliffs ceo. quick break and then special counsel david weiss blasting president biden for pardoning his son. we have details of the report released this week.li you'regh watching "mornings with you'regh watching "mornings with maria" live. stay with usext . and pass on the support my family gave me. i believe in sofi because they give the same support to millions of members. helping them bank, borrow, and invest for their future. ♪ because for most people, it's not about the lights— or the fame. ♪ it's about their ambitions. ♪ sofi. get your money right. let's go boys. the way that i approach work, post fatherhood, has really been trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families, like my own. conn

maria: we understand that nippon and u.s. steel are suing the u.s.tsburgh federal court where the companies are accusing you and the united steelworkers president, dave mccall, of racketeering and anti-competitive activities to keep nippon steel from completing this sale. what is your response? >> my response would be given in court. i have never had so much time to prepare for a lawsuit that i knew that was coming so we are -- the japanese will learn about -- they just learned about cfius. now they will learn about the judicial process in the united states. it is a two-way street and we are going to discuss this in court. but if you allow me, i would love to comment on the cfius review. maria: yes, please. >> it's a pretty big deal, the cfius review. i dno other deal has been scrutinized like this deal. they w went through three 90 day periods of analysis by cfius. they have not reached consensus as has been reported, as a negative. it's a multi-departmental committee and some were in favor of the deal and some were not and the law says in situation

cheryl: and to be clear, nippon seal has floated the idea of a -- nippon steel has floated the eyed off a court action. the other big story, president-elect trump is wishing speaker mike johnson good luck on his speakership race today in a brand new truth social post that just came out moments ago. here's what he wrote: a win for mike today will be a big win for the republican if party and yet another acknowledgment of our 129-year most consequential presidential election. a big affirmation, indeed, maga. emily, donald trump, again, is saying he supports mike johnson. we still have several congressmen if women though that are planning to at least have questions and maybe some challenges today on the floor. >> we certainly have some outliers in the republican performance, but i think the post from president trump shows you once again this is donald trump's washington with. if mike johnson is speaker at the end of the day today, it's going to be to president trump taking a strong stance in support of him and being really dedicated to moving forward his agenda. it's got a a lot less to do

not only the nippon steel deal but also potentially without investors getting involved. that backs into his national security goals. switching gears onto tariffs and that report that they are exploring tariffs on critical inputs only so those tariffs may be narrower than originally feared. 0f may be narrower than originally feared. of course there is this news that it is called fake news that it is called fake news but what do you make in all of this developments on tariffs with yellow a couple of things, one is that markets ever since trump was elected, markets have always wanted us to be one thing or the other. they either wanted to be gradualist or negotiation. my view has always been that and i continue to say that it's not going to be all one thing or another. ~ going to be all one thing or another-— going to be all one thing or another. ~ , ., , ., another. where you should look is kind of the _ another. where you should look is kind of the vector _ another. where you should look is kind of the vector of - another. where you should look is kind of the vector of wha

as president, joe biden has blocked a m billion dollar takeover of us steel by its japanese rival, nippon steel. the white house says: "the purchaser might take action that threatens to impair the national security of the united states". but with the biden administration in its final couple of weeks, the question now is whether donald trump will stick to the decision to block the deal or reverse it? as our asia business reporter mariko oi explained earlier. this was a question she has been looking at. l115 this was a question she has been looking at.— this was a question she has been looking at. us deal has indicated _ been looking at. us deal has indicated that _ been looking at. us deal has indicated that it _ been looking at. us deal has indicated that it may - been looking at. us deal has indicated that it may file - indicated that it may file lawsuits, including against the biden administration, if the president decides to block the acquisition. it willalso president decides to block the acquisition. it will also be interesting to see what mr trump the site as well, who will return t

nippon are defined.y today the us secretary of state antony blinken is in tokyo and this is bound to make relations fraught between the us and japan? it between the us and japan? it this is a really unfortunate development. the proposed deal is supported by the steelworkers on the ground in pennsylvania and other states of the united states, the management of us steel and nippon wanted, wall street once, most businessmen wanted. somehowjapan is in the crossfire is of some domestic political grandstanding and thatis political grandstanding and that is very unfortunate because the us and japan are of course not only important allies but they have great synergy and their economic systems, they need in china. a breakup would be harmful. —— they need each other. it has many people worried and i would strongly recommend against taking japan for granton. president biden is citing national security concern. vice president kamala harris said she would do the same if elected. president—elect trump is also against

we are hearing that nippon steel will hold a news conference.ing that could happen as early as tuesday, during which we are hoping for some clarity on the next steps. that could mean some sort of legal action in the us, and that is because in the us, and that is because in a joint statement, nippon steel and us steel had called buy them's decision unlawful, and said they were left with no choice but to take all appropriate action to protect their legal rights. we do understand the proposed deal has not been terminated yet. understandably, though, president biden blocking the proposed $14.9 billion acquisition of the us deal on national security grounds is causing a lot of headaches for the japanese country, which is japan's largest steel maker. biden's operation to the deal had been well flagged, so this doesn't come as a big shock. but the question is over how will nippon steel will continue to achieve its growth strategy without expanding operations in the us. with us steel, nippon steel had aimed to raise its global steel production capacity.

hours, president biden is set to block a $14 billion takeover of us steel by its japanese rival, nippon steel. that's according to sources speaking to both reuters and the washington post. but with just days left in the white house for biden, the big question is whether the incoming trump administration will reverse the decision and allow the controversial deal to go ahead. our asia business reporter mariko oi has more. there were reports that president biden will decide on the deal soon and according to the washington post and reuters, he will likely block the deal. that's despite reports that nippon steel has proposed to give the us government veto power over any potential cuts to us steel's production capacity. that was one of the major concerns of the union, that nippon will eventually cut steel production in the united states and maybe start importing cheaper steel from japan, for example, which of course would then affect the employees�* job security. interestingly, while the union is still against the deal, not only us steel's leadership, but also some of its workers are now star

steel without an investment of nippon. without nippon's investment, jobs in western pennsylvania might have to be moved elsewhere to other planes that are operating efficiently for u.s. steel. he said without nippon that is a possibility moving into the future. a lot on the line. maria: i tell you i spoke with president trump about this deal and he told me he would block it. i don't know if that changed and we will see if the ceo can have a conversation with him but president trump is where president biden is on this. great reporting. lydia hu in pennsylvania. stay with us. we'll be right back taking care of mom was becoming a real challenge. i was so grateful to discover visiting angels. mom's visiting angel helps her shower and dress, and she keeps an eye on mom's alzheimer's. and our care manager gives me regular updates. best of all, mom has a trusted companion who cares about her. ♪ visiting angels america's choice in home care ♪ lock in let's go. mom has a trusted companion who c rated e for everyone. [rock and roll

steel needs nippon's cash and technology.re. >> the investments that are coming are so extraordinary. also the know-how. there is no steeple company in the united states that has the know-how of nippon. others may claim to know but the ones that claim to know the know-how can't make a gross profit. so they struggle in the current situation. they're the ones counting on tariffs and looking for government handouts, what we want is to respect the rule of law and make sure that this investment comes in and then we get this technology. if you think about this, nippon for example as 30000 patents. they invest more in innovation than all of the steel companies in the united states combine. they're going to invest and create jobs and improve job security, economic security and national security along way. this is a fabulous deal. nobody else can do the investment in the know-how like nippon can. >> u.s. steel and nippon steel are suing the united steelworkers labor union president david mccaul accusing him of working with another ste

shares of nippon steel are down in tokyo today after nippon television reported that the company's presidentering filing a lawsuit against the us government. according to the report, imai also said his company is entitled to a proper review of washington's decision to block the deal. nippon steel is planning to hold a press conference on the matter, but a date has yet to be set. and that's it for this edition of business today. thanks for watching. see you again soon. hello and welcome to sportsday with me, chetan pathak. coming up on the programme: not many gave manchester united a chance at anfield, but amad is on hand to hold top—of—the—table liverpool to a 2—2 draw in the premier league. the most followed rugby union player in the world on social media. we speak to american superstar ilona maher as she makes her women's premiership debut for bristol bears. and coco gauff and taylor fritz help the united states to victory over poland in the united cup final in sydney. welcome along. thank you for being with us. despite overnight snow, both of sunday's premier league games went ahead, incl

steel claiming nippon investments are needed, remember, u.s.emendous investments in their facilities built the river 1.5 billion dollars with equipment that they were going to put in the valley waited three years, to get an air permit from pennsylvania they couldn't so moved that equipment, to arkansas built big river two, vested in fasts continue to do that they don't need to rely on an acquisitions from a foreign integrity to save that company we need long term comprehensive trade policies that sports o american manufacturers american companies american communities, instead of us exporting conscious over seize to deal with companies that pollute environment abuse labor abuse currency manipulation nippon isn't going to save u.s. steel without a lot of those things happening. >> a great point. >> there is a lot to unmask. maria: so then barry do you support then pe fed trump's plan to o impose tariffs on steel? he is threatening to impose tariffs on china canada mexico, a proposed 25% import tariffs could upend the usmca trade deal and he said

shares of nippon steel are down in tokyo today, after nippon television reported that the company's presidentling a lawsuit against the us government. according to the report, imai also said his company is entitled to a proper review of washington's decision to block the deal. nippon steel is planning to hold a press conference on the matter, but a date has yet to be set. we will be keeping an eye on that one as the trump administration is set to take office in a couple of weeks. microsoft is gearing up to spend $80 billion on the construction of artificial intelligence data centres. in a blog post the company president said over half of that investment will take place in the united states and is expected to be completed this fiscal year. smith also called on president elect donald trump and congress to expand support for al innovation with moves such as increased funding for research at universities. and that's it for this edition of business today. thanks for watching. i will see you soon. hello and welcome to sportsday with me chetan pathak. coming up on the programme: not many gave manche

nippon steel could not present n plan that would work and clearly nippon steel would never agree to auation in whicht orchestrate america first. we are thean only ones to implement the plan of president trump and that is coming another five or six days to have this thing going. >> laura: well, lourenco u.s. steel told "the angle" your marks attempt to shift away from the legal monopolistic conspiraciesin that you are engaged in. aren't the face of declining performance year company and u.s. steel and nippon steel are suing you for i guess thete equivalent of contortions interference with negotiations and legal and coordinated actions. so they are, they are pushing, pushing, pushing all fronts. they have a lot of journalists and globalists on their side here against a u.s. company buying u.s. steel. but the attacks are now getting gpretty personal, lourenco. >> yeah, but you know, when you hate me, you wilbal hate back 2 times more. i can't waitdisc to discuss thee things in court. but that is a distraction. that a smoking screen on top of something people don't really understand. japa

steel and nippon, nippon means japan, right?obs, to create economic security and improve national security. you know, it's amazing to me when you think about japan, we trust them with the greatest military technology, we have more boots on the ground in japan than any other country than the united states, we trust them with the joint strike fighter, the patriot missiles, but we don't trust them with a steel company? and somebody has to explain to me yet what are the national security risks. when they talk about supply chain, i say they're going to shut down facilities here that are here and making money and performing well? they're investing in them to make them better. to make the planet better. they are the best at the integrated mills. if anybody refutes that, we will go head to head with them. they are remarkable and they're doing the right things for the united states. >> there is an argument that japan has decades' long history of -- like what china is doing, over capacity, harmful steel dumping into the united states, des

nippon steel and u.s.rguments, so far not persuasive, to the people, the regulators and the politicians need to say yes, that this would forge an alliance, industrial alliance that competes with china. but i should say there have been union members and some business leaders and officials in pennsylvania and elsewhere who say yes, we should go forward. but so far they are in the minority. president biden seems to be against it, kamala harris is against it and donald trump is against it. scarlet: one thing the three can all agree on. john hardy is a bloomberg news editor joining us from washington. coming up a rise in national security fears after two new year's attacks. we are at the white house with the latest on the response. ♪ scarlet: this is "bloomberg markets." a deadly pair of attacks first in new orleans and then an explosion of a tesla cybertruck outside of donald trump hotel in las vegas. the fbi speaking moments ago saying the suspect in new orleans acted alone and so far there is no linkage to t

steel, the logic of denying nippon. it would be an in investment that would make america great, perhaps not. one big beautiful bill, steve moore and david malpass, i'm kudlow, we'll be right back. our job is to let him do it...by himself. what kind of wood you got there? gregggg! it is important to challenge young homeowners turning into their parents. -mm... -oh! -not a great start. -you got to turn it. you got to turn it. doesn't look structurally sound here. tom! they can't help themselves. -a fire starter?! -you know cavemen, they built fires with nothing but their wits and their bare hands. progressive can't protect you from becoming your parents, but we can protect your home and auto -when you bundle with us. -can't watch this. after careful review of medical guidance and research on pain relief, my recommendation is simple: every home should have salonpas. powerful yet non-addictive. targeted and long-lasting. i recommend salonpas. it's good medicine. ♪ hisamitsu ♪ (luke) now that we have a completely new homes-d

nippon steel did not present a plan that could work and clearly nippon steel would never create a operationput workers in america first. we are the only ones that implement the plan of president trump and that is coming. we can't wait another five, six days to have this thing going. >> laura: lourneco your remarks are attention to shift away from the legal monopolistic conspiracies that you are engaged in. all in the faith of declining performance at your company suing you for, i guess, you know the equivalent of tortuous interference of negotiations, a legal and coordinated action. so they are pushing, pushing, pushing on all fronts. they have a lot of journalists, globalists on their side here against a u.s. company buying u.s. steel. but the attacks are now getting pretty pretty personal. >> when you hit me, you are going to be hit back 10, 20 times more. i can't wait to discuss this in court. put smoke screen on top of something that people don't really understand. japan has been destroying our american steel industry for decades. japan over capacity. japan overproduction in steel is th

steel by japan's nippon steel. but first, we will talk about yesterday's resignation of canadian prime minister justin trudeau, what it means, and that conversation will be chris sands , director of the canada institute at the wilson center. speaking of the canadian prime minister, he made that announcement yesterday. here is a portion from his resignation announcement. [video clip] >> friends, as you all know, i am a fighter. every bone in my body has always told me to fight because i care deeply about canadians. i care deeply about this country. and i will always be motivated by what is in the best interest of canadians. at the fact is despite best efforts to work through it paralyzed for months after what has been the longest session of a majority parliament in canadian history. that's why this morning i advised the governor general that we need a new session of parliament. she has granted this request in the house will now be probed into march 24. over the holidays i've also had a chance to reflect and to have

nippon and us steel fight back. the companies sue the biden administration for blocking their mega merger. hello and welcome to business today. i'm steve lai. to the tech world, where consumer electronics show 2025 kicked off in las vegas. nvidia ceo jensen huang is delivering his keynote address probably the most important address at ces this year. we did see the rtx 50 series debut. they are much more powerful but we see better and better chips every year at ces. what was really imprtessive to me was that the prices are going down. jensen huang just announced that you're going to be able to get an ai pc starting at $1300. there are about 200 million pcs shipped every year. this is the next phase of growth for them. the price point is correct so i think there's correctly a lot of enthusiasm by the investor community and the tech community in nvidia right now. nvidia has been showing great strength over the last year or so as ai has gathered pace and that shows no sign of slowing down? it doesn't but companies like

what's logic of denying nippon?fter all, i think that it be an investment that would make america great, but perhaps not. and again, one big beautiful bill. steve moore, david malpass, i'm kudlow, be right back. okay everybody, that's lunch! (♪) mud mask? (♪) [sofi mnemonic] can a personal loan unlock your ambitions? oh yeah. take a swing at your kitchen reno... we meant that literally. sofi personal loans. low, fixed rates. borrow up to $100k. no fees required. ♪ only servicenow connects every corner of your business, putting ai to work for people. pfft ... every corner? every corner, nick. ow! so kate in hr ... hey kate. can focus on people, not process. oh actually, i have a question ... keep up, nick. do you have to be sick to take a sick day? patty in it is using ai agents to deal with the small stuff, so she can work on the big stuff. agents like secret agents? secret agents i control. with your mind? you know ... i played a secret agent once. - we know. - oh gosh ... i liked it. over here, ai gives tina the i

host: why was nippon steel interested in u.s. steel? guest: mergers and acquisitions across borders happen all the time. somebody sees an opportunity and they proposed a merger or acquisition. in this case, it sounds like they saw an opportunity to invest in u.s. steel in terms of their comparative advantage was integration into global value chains, and arguably superior firm-specific capital and technology and more advanced innovative production techniques. they wanted to bring back u.s. steel, plus u.s. steel being inside the u.s., they are protected from tariffs. remember in the reagan years when reagan started putting up all those barriers for imported automobiles, and then what happened was japanese automakers jumped over the tariffs and started making cars in the u.s. they see the u.s. getting more protectionist, so they want to invest in the united states and protect themselves, not be harmed by those tariffs. so it has the potential to be a win-win for the japanese steelmaker that because he could keep u.s. steel going. host: co

nippon has 30,000 patents. more in innovation than all of the steel companies in the united states combined. so they are going to invest here and create jobs here and they will improve job security, economic security and, of course, national security along the way. this is a fabulous deal and nobody else can do the investment and the know how like nippon can. >> and the steel company's joint federal lawsuit names the president of the united steelworkers union. they accuse him working with a competitor. they say they worked together to undermine the sale of u.s. steel. david mccaul responded and said by blocking nippon steel the biden administration safeguarded -- it undermines our critical supply chains. we'll defend against these baseless allegations. d.o.j. declined to comment. cliff hasn't commented to our request. >> dana: glad you got the interview. >> bill: good stuff. before we go, we -- why don't we say where we're been. i went just about every american goes for holiday, i went to ethiopia. and i visite

steel by japan's nippon steel.cement could come as soon as today. >>> big drama in washington. the new house of representatives set to vote on a speaker in a couple of hours. we will have the latest from the capitol. >>> later, far, far away, on other side of the world, a standoff in south korea. authorities trade and failed to arrest impeached president yoon. they were blocked by his secret service body guards from arresting him. it's friday, january 3rd now, 2025 and "squawk box" begins right now. ♪ >>> good morning everybody, welcome to squawk box. we are live from times square. andrew is off today. let's look at what is happening with the equity futures. there are green arrows. dow futures are up 85. as a pr of 14. the nasdaq is up by 75. we saw the assive gains in the futures in the morning. that did not pan out.

nippon and us steel fight back. the companies sue the biden administration for blocking their mega merger. hello and welcome to business today. i'm steve lai. to the tech world, where consumer electronics show 2025 kicks off today in las vegas. nvidia ceo jensen huang is delivering his keynote address probably the most important address at ces ces this year. let's bring in our technology correspondent lily jamali for more. what stood out from huang's speech? hausmann is the rtx 5000 series, new family of chips that use technology to create images that look like something out of a movie. the other thing that stood out was that he was almost making a pitch for al at the top of the keynote. as much hype and excitement as there is around ai, there is still this need to explain the case. what else is getting _ need to explain the case. what else is getting buzz _ need to explain the case. what else is getting buzz at - need to explain the case. what else is getting buzz at ces? - need to explain the case. what else is ge

the lawsuit out of nippon and u.s. steel after their blocked merger, and how cleveland cliffs is getting roped in. the details, when "fast money" returns. >>> this is "fast money" with melissa lee, right here on cnbc. at morgan stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ at state street, we know everyone's trying to get somewhere. ♪♪ take the next step toward your future, by investing in the s&p 500 with spy. getting there starts here. what if your mobile network wasn't by investing in the s&p 500 with spy. just built to work out here... ...but was designed differently to also give you blazing fast wifi where you are most of the time? reliable 5g, plus wifi speeds up to a gig where you need it most. xfinity mobile. xfinity internet customers, ask how to get a free 5g phone and a second unlimited line free for a year. >>> now to our call of the day. apple downgraded to a sell, calling the iphone maker de

steel and nippon steel this morning trading this way as you can see, united steel is up a fraction, nippon flat after president biden officially blocked the $14 billion takeover deal. the first big economic data point of the new year coming up this week with friday's december jobs report along with the jolts report and december adp also coming up this week, the jobs preview right here. european markets this morning are mixed. take a look at the eurozone, the ft 100 is lower by 6 and-a-half, the cac quarante in paris is higher by 36, the dax index in germany higher by 68. in asia overnight markets finished mostly lower. take a look at the asian indices with the real strength in korea, kospi index up almost 2%. the weak spot japan, down 1 and-a-half percent. back at home, president biden in new orleans today, meeting with the families of those killed in the new year's day terrorist attack as the fbi reveals shocking new details about the suspect. meanwhile, now exactly two weeks until president trump retakes office and the judge in his new york city hush money case sets a sentencing date for

nippon won the bid.o the allies of the united states are and is it important to solidify some of those bonds. i was reading about a japan economy minister who basically said if this deal is rejected, it was in a stark message that investment from japan is not welcome in the u.s. how concerned are you about the u.s. efforts to fortify its connections with allies at a time or threads elsewhere, as we have just seen, are still dominant? >> this is a great point. the challenges we are facing a decade level threat and china both economically, politically, militarily. the u.s. government point made repeatedly is this is an opportunity to work closely with our allies. we have to work with allies to be successful in a long-term battle both politically, militarily, and economically with china. the rejection of a major deal with a critical american ally, the japanese come as a hard one. president trump has welcomed a large investment with artificial intelligence and other areas. the question is, not wanting to los

steel and nippon steel say japan is one of the closest allies. this is what friend-shoring is all about. let's stand up to china and dumping of steel. >> look, this is just optics. it is called u.s. steel. >> politics. it's run through the swing state of pennsylvania. >> economics whatsoever. hyman roth was more accurate of what to do with u.s. steel than president biden. >> the question is -- look, if there's legal challenges, and it goes to the courts, and ultimately to the next administration, what will trump do? he has publicly come out against the deal. >> we wanted to defer to vice president-elect vance who talks about the japanese steel companies and what they can do to decimate america. >> it is an old school -- >> i agree. >> look at nucor steel. doesn't that show something has to be done to preserve u.s. steel? >> let's talk to lorenzo. he knows more than anybody. >> he wants to keep it in america. >> if he hadn't done the steel co in canada and come back and buy from cleveland cliffs. this is wrong on so many levels. does president bid

for now, nippon steel has 30 days to abandon the takeover offer.e deal collapses, the japanese company will owe you are still a breakup fee of $565 million. andrew, who has previously presented institutional clients in filings with the committee on foreign investment in the united states took me through the key aspects of this case. the party is now after the president issued a blocking order, the party is now taken both the committee of foreign investment in the united states and the presidents and several other named officials in the us government, to federal court, asserting that that decision was in violation of legal principles and they raised a number of interesting arguments therein. the first argument that they raised, it falls under the due process law which says that no property or liberty can be taken from someone without having due process, the right to be heard. and in this instance, the parties have alleged that given president biden�*s outward public decision or statement in april of earlier in 2024 when he said that he would block t

. >>> president joe biden decides to block nippon steel's proposed $15 billion takeover of u.s.teel with the official announcement possible as soon as today. >>> and investor attention turns to washington as lawmakers gear up to pick a house speaker in the key test of president-elect trump's influence. >>> and the autos near the bottom of the stoxx 600 after italian car sales plunge and tesla with the first annual sales decline. >>> very good morning, everyone. we start today's show taking a look at european equity session and how we have moved so far this friday morning. european equities have been trading for just over an hour and thus far we have the stoxx 600 in the red down .40%. this marks a shift from what we witnessed on thursday. we actually had the stoxx 600 up on the day with gains of about .60%. we are witnessing something different today. let's dig deeper and take a look at the different bourses across the european couldn't nent and get a better idea of what's happening here. we have all of the major bourses in the red at the moment. the xtra dax down .50%. more pro

fox news alert, president biden reportedly to block nippon steeles $14 billion bid for u.s.hley: cheryl casone from fox business network, hi, cheryl. >> hey, guys, good morning to both of you. this will be very interesting because basically according to reports, president biden is going to block the nippon steel takeover offer at the u.s. steel. this is after recent ps you of ford and national security. but they raise concerns but they didn't come to a unanimous decision. $14 billion deal that has been on the works and became political hot button as you both know. look, it depends on a lot of things here. went to put this out to todd, the low year, my friend todd piro, the lawyer that basically you could see challenged in the court by nippon steel. they have been other offers for steel button upon came out the winner of the deal and it could be one issue. that here is what president-elect trump say koji he would make u.s. steel strong again through a series of tariffs we will make it strong again and it will happen fast and i will block this deal from happening so buyer bewa

steel and nippon.to raise concerns, calling on secretary yellen to do her work and cfius to block in this deal. and that may not if work well as they try to revise this deal even as nippon's executives say they remain committed and laser focused on trying to close this deal and buy u.s. steel. we're going to foil. stuart, back to you. stuart: thanks, lydia. check markets real fast, please. dow's up nearly 200 points, the nasdaq's up 32. still ahead, wisconsin senator ron johnson has more on republicans' sweeping border plan for trump's first day in office. bret baier reacts to trump vowing to undo biden's offshore drilling ban. senator adam schiff will not rule out investigating trump while he's in office. tennessee senator marsha blackburn are will be here on what may be the return of the democrats' lawfare. and and biden administration promising a jam-packed final go weeks. we're going get -- two two weeks. is what it could mean for blocking trump's agenda. will cain on that. the 10:00 hour is next.

steel by nippon steel of japan.al security concerns for the decision saying in a statement, quote, a strong domestically-owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains. without domestic steel production and domestic steel workers, our nation is less strong and less secure. we're back with our "wall street journal" columnists dan henninger, mary anastasia o'grady and kim strassel. so, mary, did the president make this decision, do you think, based on national security? or was something else on his mind? >> in a word, paul, no. [laughter] absolutely not. it's really a crazy decision, and it's going fob the really harmful to the u.s. as a destination for capital because i think it lowers the certainty that people feel about investing in this country. paul: so what motivated him? >> well, it was a labor -- it's organized labor and not the rank and file of labor, but the big wigs. nippon if steel was going to pay a premium for the company.

nippon steel is in the process, if they were to buy u.s. steel, of the saving the company, not putting it out of business. i don't understand blocking this on national security concerns. this is not the 1980s where we are in fierce competition with japan. china is the worry. i would have personally approved the deal and i don't know why the biden administration opposes on national security grounds. >> the only way that u.s. steel, which is hugely important to pittsburgh and the whole region, the only way they stay in business long term is if they get some real outside investment. couldn't they have just said to nippon steel, guarantee has no major layoffs and guarantee us a major investment. not like the foxconn spoof of wisconsin that never happened. couldn't they iron this out? >> there is more to aspire, like with cleveland cliffs. i think you cut deals with the japanese counterpart that would make this more palatable from that perspective. but on national security counts, i don't understand that objection, i don't get it. i agree with j

nippon is down about 1 and-a-half percent.ow, the president previously cited national security concerns as the reason why he blocked the $14 billion merger. one lawsuit accuses biden of obstructing the deal for political reasons. the other takes aim at the company cleveland cliffs alleging its ceo conspired with u.s. steelworkers union president to nix the deal. lydia hu is in pittsburgh with more details on how all of this could play out in court. hi, lydia? hey there, taylor. good to be with you. u.s. steel and nippon steel are asking for an expedited review of their lawsuits because their timeline for getting a deal done if they can is june. so they need the court to look at their lawsuits as quickly as possible. they want the cfius review that was conducted by the biden administration to be set aside and to allow for a new cfius national security review to unfold under the trump administration. i spoke with the u.s. steel ceo david byrd on his thoughts of how the biden administration handled the review. >> the president of

nippon still comes out fighting as it tries to salvage its takeover of us steel. terminal up north, could political upheaval in canada reshaped relations with one of america's biggest trading partners? also coming up, tech tensions flare with china as the us accuses tencent and others of involvement with beig and's military. and the annual consumer electronic show gets under way in las vegas. welcome. us shares are moving cautiously higher at the open after a strong run for tech shares on monday. investors are holding fire ahead of the economic data out in the next half an hour that could set the scene for those all—important scene for those all—importa nt jobs scene for those all—important jobs figures on friday. one bright spot, ai chip. getting a boost after an upbeat presentation of some new products at the consumer electronic show at las vegas. first, let's bring in victoria fernandes, the chief strategy marketed. welcome, i want to start by looking at the stock market. we have two days for games, perhaps set for a third but we have seen a pull—back in the ma

us president, joe biden has blocked a $14 billion takeover of us steel by its japanese rival, nipponespondence for more. you were suggesting last hour that there is legal action might happen, we now have confirmation of that, tell us more about what nippon steel order lawyers are saying. bath order lawyers are saying. both companies _ order lawyers are saying. both companies have _ order lawyers are saying. ezrrit'i companies have condemned today's decision. they said this was a good deal for workers, that they would invest in the plant, and they really are going to go after the us government and challenge this decision. and part the ground, the legal grounds for this is that you have a federal body that you have a federal body that reviewed the deal and had toissue that reviewed the deal and had to issue a report on whether or not there were grounds to block it on national security concerns. ultimately they referred the decision to president biden and at the heart of the complaint they will argue that the administration placed undue pressure on the review process and skewed the find

they don't have the resources that nippon has. thank you very much to both. >> you are welcome. >> thank you. ♪ anchor: alcohol is the third leading preventable cause of cancer in the u.s. followed tobacco use and obesity. it causes 20,000 deaths each year. alcoholic beverages have a -- should have a warning about those risks. welcome back. >> thank you so much. good to be with you again. anchor: there were some things that stood out to me from your findings. only 45% of american adults are aware that consuming alcohol increases the risk of developing cancer. how did those numbers strike you? why is awareness so low? >> it was very striking for me when i saw this. it became very clear to me that we have to tell people what the data is telling us. there is a link between alcohol consumption and cancer risk. we put out this advisory: not only for more public education but a change to the alcohol warning label. there are warnings about drinking while pregnant and driving and operating heavy machinery. those things have actually soake

and nippon steel could save the company. i don't understand this blocking it on national security concerns. it's not the time when we were in fierce competition with japan. i would have approved the deal and i don't understand why the biden administration opposes it on national security grounds. and i would do everything to bring japan closer. >> u.s. steel, important to pittsburgh and whole region, only way they stay in business long term is get real outside investment. couldn't they have said to nippon, guarantee us no major layoffs and major investment. not like the fox con spoof of wisconsin, here's shovels, never happens. couldn't they iron it out? >> they could, and there's one domestic buyer. >> who would take them out of pittsburgh. >> there's a domestic buyer but the dynamics are vastly different. i think you cut deals with a japanese counterpart to make it more palatable, but on national security grounds, i don't understand the objection. i don't get it. again, agree with jason in substance, not in tone. >> surpris

nippon and us steel fight back.merger. hello and welcome to business today. i'm steve lai. to the tech world, where consumer electronics show 2025 kicks off today in las vegas. nvidia ceo jensen huang is delivering his keynote address probably the most important address at ces ces this year. let's bring in our technology correspondent lily jamali for more. what stood out from huang's speech?

trump yet looks favorably on the nippon steel takeover.vestment has thrown this over to bi to biden, they punted on it, what will happen? >> well, up fortunately that commit that was responsible for evaluating that security risk became li plight politicize, this is apply japan. -- this is an ally, japan, i hope that president biden will approve it if not i hope that president trump will reconsider. they all favor this it is good for workers and community, i hope they will see that this is good. we want to build things in america, president trump said it. nippon steel agreed to invest billions in pennsylvania to do just that. that makes sense for american national security. and great sense for american steel to be produced here at home. larry: maybe only way to save u.s. steel. and mike, you know, back after all those meetings with abe. the great prime minister of japan, japanese carmakers have domestic content in u.s., i don't see what the threat s nippon says what will do, i don't know. i lineup, i would let it go through. i'm not running

steel to japanese owned nippon steel. he says the proposed multi-billion dollar deal would pose a threat to national security. he stressed the importance of keeping the steel industry in american hands, but nippon said the deal would have strengthened the u.s. steel's global position. both u.s. steel and nippon say blocking the deal is a violation of the law. the companies hinted at taking legal action to fight biden's decision. still ahead searching for more answers in the new orleans deadly truck attack. what investigators are focused on now as the city tries returning to some form of normalcy. and the santa cruz wharf is set to reopen tomorrow. what to expect following the last week's partial collapse. and some clouds lingering right now on our san francisco camera. i'll show you how much cloud cover to expect this weekend and when some dry wind returns. in my terms of that deadly new year's day truck ramming attack in new orleans have been identified. louisiana's governor has declared a mourning period for the victims

the us authorities have given nippon untiljune to mount a legal challenge.dollar takeover could go ahead, saying it would secure the best future for the company. the incoming president donald trump also opposes the takeover. to peru now and a further sign of our transforming global economy. as donald trump prepares to take office with a promise of high tariffs on chinese goods, china has set its sights on latin america. a new megaport on peru's coastline that's part of china's belt and road initiative offers a direct route to china that cuts sailing times by ten days. my colleague ritika gupta went to the megaport in peru to find out more. huge unmanned cranes loom over peru's chinese funded chancay port, a symbol of beijing's growing influence in south america. situated on the edge of peru's coastal desert, some 50 miles north of the capital, chancay, a small fishing town, looks set to become a major hub for trade in a region the us has long considered its own back yard. this giant new port is a game changer, notjust for peru but for the wider latin america

not as big as nippon, has been struggling. bid, a very aggressive bid by nippon first. looks like it's not going to happen. remember this name. this is the committee on foreign investment in the u.s. we talked about it in the trump administration because they blocked a lot of deals, semiconductor deals. president biden said it was not kosher with the deal with nippon and u.s. steel. so trump has opposed this. said it's not going to happen. buyer beware. j.d. vance said this is tariff jumping by any other name. doesn't look like it will happen. doesn't mean that deals between japan and the u.s. are dead by any measure. >> right. japan is an ally. it was interesting because even joe biden while i think he did this mostly because he is a union supporter, quoted national security as a reason. it's an interesting concept. do we -- does an american steel to company controlled by a foreign country pose an issue? >> not totally. u.s. steel and the steel made in the u.s., 2% goes to defense. we get a lot of other steel, aluminum, coppe

so the president will reportedly block nippon steel's $14 billion sale of u.s.at's as early as today over concerns it could pose a national security threat. president trump came out against the deal. he said through a series of tax incentives and tariffs we will make u.s. steel strong and great again. and it will happen fast. i will block the deal from happening. buyer beware. the united steelworkers union criticizing nippon steel over poe ten shale reductions -- potential reductions in capacity. they will allow equipment to rust away until it's no longer feasible to restart. nippon steel's up almost 6% but wow, u.s. steel the american company down over 9% in the premarket. a former pennsylvania man indicted by a federal grand jury on charges trying to join the terrorist group hezbollah and lying to the fbi about it. the 24-year-old jack malloy, a dual citizen of the u.s. and ireland, allegedly traveled to the middle east in both august and october, making multiple attempts to join the group in lebanon and syria all while voicing hatred against the jewish commun

steel, the shares stumbling after nippon steel's takeover deal was blocked by president biden.ompanies putting out a strong response. that is next. ♪ scarlet: this is numbered markets. i'm scarlet fu. time now for the stock of the hour. u.s. steel down after president biden blocked the sale of the company to nippon steel, killing a deal that sparked a political firestorm and raised tensions with japan. the companies put out a strong response. josh wingrove joins us now with more. the companies published a statement saying they are left with no choice but to take all appropriate action to protect our legal rights. what does that mean? josh: they are all but saying they are going to sue here. they stopped just short of saying that, but they are saying this decision was unlawful and are essentially confused -- accusing the of working backwards off of they think was a decision biden had made early on in the process and then filled in the justification after the fact to get to the answer he wanted to get to. that is their claim. the administration is saying they review found securit

that is what nippon has said in the past. we have not heard from either company today. tell us more about the background to all of this. >> what is unusual is you are seeing a japanese firm being blocked by an american company. it raises questions. the government says it is because of national security concerns. is it wise to essentially say to an ally of america that your money is not welcome. anchor: apple has agreed to pay millions to settle a case that claimed that some of its devices were listening to people without permission. the tech giant was accused of using siri to eavesdrop on customers. our technology reporter explains what apple was accused of. reporter: this is a case that comes from california. people who have these voice systems, you normally have to activate it to get to listen to you. and then you can give it commands. anchor: what is apple saying? reporter: i have been trying to contact them all day but i have not heard anything from them. as part of that settlement, they deny any wrongdoing as well as any claims that they recorded or disclosed to an