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.

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.

U.S. Steel and the Japanese firm that had sought to acquire it are suing the Biden administration after the president announced he was blocking a proposed deal for the iconic American manufacturer.