By blocking a Japanese company’s takeover of U.S. Steel, President Joe Biden said he was protecting good jobs in the American heartland. He may be putting them at risk instead.

WASHINGTON | Xinhua | U.S. President Joe Biden on Friday blocked Japan’s Nippon Steel’s proposed acquisition of U.S. Steel, citing national security concerns — a decision that economists say could hurt American steelworkers and the U.

The president said he was moving to protect national security in deciding the fate of the iconic Pennsylvania-based company, which became a contentious political issue in an election year.