The agreement brings the companies one step closer to completing the $14.3 billion sale of U.S. Steel that the companies agreed to in December 2023.

President Donald Trump has approved a partnership between US Steel and Nippon Steel, the companies said in a release on Friday.

President Trump on Friday cleared the way for Japan-based Nippon Steel to potentially acquire U.S. Steel, though details about the structure of the deal — including a possible "golden share ...

It's still unclear how much involvement Nippon Steel has in that partnership. The "golden share" means Americans would have a 51% share in ownership of the company, according to Trump.

Recent tariff hikes in the US on steel and aluminum have significantly impacted the stainless steel market, leading to price fluctuations and supply chain disruptions.

The steel used in cans is mostly imported—and subject to the Trump administration’s new 50% levy.

It is also remains unclear how long steel and aluminium tariffs could stay at the 50% level proposed, as Trump continues to negotiate other tariffs with various countries.

India Business News: India anticipates a limited effect from President Trump's proposed steel and aluminium tariff increase due to relatively low export volumes to the US.

Steel stocks jumped Monday after President Trump vowed to double tariffs on the metal to 50% — and vowed to revive the American steel industry.

Industry Minister Melanie Joly said the government is waiting to see if Trump follows through on his threat to increase steel and aluminum tariffs to 50 per cent.

Futures tracking aluminum and steel prices in the US surged after President Donald Trump said he will double tariffs on the metals this week.

President Donald Trump said he will support an acquisition of U.S. Steel by Tokyo-based Nippon Steel with caveats to retain U.S. control of the company's board of directors.