The Daily

In a highly unusual move, the Biden administration signaled last week that it would block a Japanese company from buying an iconic American company in a critical swing state.Alan Rappeport, who covers the Treasury Department for The Times, discusses the politics that could doom the multibillion-dollar deal, and what it says about the new power of American labor.Guest: Alan Rappeport, an economic policy reporter for The New York Times.Background reading: President Biden is expected to block Nippon Steel’s takeover of U.S. Steel.How swing-state politics are sinking a global steel deal.For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.