President Joe Biden last week capitulated to uneconomic thinking by blocking Nippon Steel’s purchase of U.S. Steel. That decision will ultimately harm Minnesota’s Iron Range.

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.

Growth in the massive U.S. services sector picked-up in December, according to the Institute for Supply Management. Meanwhile, job openings hit a six-month high in November, according to the Labor Department.