Japan's prime minister called for clarity Monday on why US President Joe Biden blocked a $14.9-billion deal for Nippon Steel to buy US Steel, warning the decision could hit investments.

President Joe Biden's blocking of Nippon Steel's takeover of US Steel has raised concerns among Japanese firms about future investments in the United States, Japan's prime minister said Monday.

Nippon Steel, whose multibillion-dollar proposal to buy struggling US Steel was blocked by President Joe Biden last week, says it is considering taking legal action against the US government.