Trump Stuns With US Steel-Nippon Deal But Details Remain Elusive

President Donald Trump on Friday announced a partnership between United States Steel Corp. and Japan’s Nippon Steel Corp., shocking markets with an agreement he said would keep the once-iconic American firm in the US but otherwise providing no specifics.

He stopped short of explicitly endorsing Nippon Steel’s earlier proposed $14.1 billion takeover of US Steel, but shares of the company surged as much as 26% in late Friday trading — signaling optimism over the deal’s prospects.

“I am proud to announce that, after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the ...