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.

The suit, filed in the U.S. Court of Appeals for the District of Columbia, alleges that it was a political decision and violated the companies’ due process.

U.S. Steel and Japan’s Nippon Steel sued the United States government on Monday in a last-ditch attempt to revive their attempted merger after President Biden blocked it last week on the basis that the transaction posed a threat to national security.

President Joe Biden's decision to reject a bid by Nippon Steel to acquire U.S. Steel isn't the first time friction over trade and investment has irked Washington's closest ally in Asia.

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why U.S. Steel is hoping Donald Trump can save its deal with Nippon

Growth in the massive U.S. services sector picked-up in December, according to the Institute for Supply Management. Meanwhile, job openings hit a six-month high in November, according to the Labor Department.