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Japan's Nippon Steel and U.S. Steel have filed a lawsuit against U.S. President Joe Biden's decision to block their nearly $15 billion merger. They accuse the Biden administration of illegal interference. Andy Mok, a senior research fellow at the Center for China and Globalization, argues that the move increases the perceived risk of investing in the U.S., signaling to global businesses that significant investments may face arbitrary regulatory hurdles and politicized decisions.