WASHINGTON (Kyodo) -- U.S. President Joe Biden has decided to block the $14.1 billion takeover of United States Steel Corp. by Japan's Nippon Steel Corp., U.S. media reported Friday.

The announcement is expected to be made as early as Friday, the reports said, citing unnamed officials and sources. Nippon Steel declined to comment on the reports.

Biden, who leaves office on Jan. 20, and President-elect Donald Trump have both publicly opposed the deal announced by Japan's biggest steelmaker and the smaller U.S. producer in December 2023.

The two steelmakers said last week that they were informed by the Committee on Foreign Investment in the United States that it could not reach an agreement on the deal, leaving the decision to Biden. The panel evaluates whether foreign investment transactions involving U.S. companies pose a threat to national security.

Nippon Steel had reportedly indicated earlier that it was prepared to take legal action if the deal were blocked. If the deal is halted, the Japanese company could face a $565 million penalty for breach of contract with the U.S. company.

To secure U.S. support for the deal, Nippon Steel has made several commitments, including keeping U.S. Steel organized as a domestic company with a majority of Americans on its board. It also reportedly pledged not to reduce output capacity for 10 years following the acquisition.

Founded in 1901 and based in Pittsburgh, Pennsylvania, U.S. Steel was once a symbol of American economic prowess, but it has struggled to keep up with competition from foreign rivals.

The takeover bid has been backed by U.S. Steel shareholders as well as some workers and locals, but the topic became highly politicized ahead of the November U.S. presidential election.