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International Business Times
International Business Times
Business

Trump Greenlights Nippon Steel 'Partnership' With US Steel

US Steel Nippon Nippon Steel Donald Trump United States Joe Biden America CFIUS Japan
A view of the US Steel Edgar Thomson Works on January 21, 2020, in North Braddock, Pennsylvania (Credit: AFP)

US President Donald Trump on Friday threw his support behind a new "partnership" between US Steel and Japan's Nippon Steel, sending the American firm's share price skyrocketing on hopes of an end to the long-running saga over foreign ownership of a key national asset.

While the details of the deal remained unclear, the Pennsylvania-headquartered firm's share price popped after Trump took to Truth Social to hail the new arrangement, closing up more than 21 percent and then rising further in after-hours trading.

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