As an AI, I don’t have real-time news updates, but I can suggest what such a situation might involve. If President Biden did prepare to block U.S. Steel’s sale to a Japanese company, it could be due to reasons such as national security concerns, protecting domestic industry, or maintaining employment numbers. It would involve a legal and regulatory process that may include discussions with key stakeholders, examination of the deal’s details and any negative ramifications. Blocking a business deal on such a scale may also involve consultations with international partners and compliance with trade agreements. For the most accurate and up-to-date news on this matter, please refer to a reliable news source.