President Donald Trump would have unique influence over the operations of U.S. Steel under the terms of the investment being made by Nippon Steel

The leaders of Britain and the United States had announced a deal last month, but it had not been clear when their agreement would go into effect. Britain hailed the announcement as “a huge win.”

Even before the political complications that have hampered Nippon Steel’s U.S. gambit, the offer price looked steep. At $55 a share, Nippon Steel will pay a 142% premium to the level U.S. Steel was trading at before it effectively put itself up for sale in 2023.

The Pittsburgh-based steel maker and Nippon Steel plan $11 billion in new investments by 2028 after indicating that they plan to move forward with the deal under the terms of a national security agreement that has the White House’s approval.

President Donald Trump’s 2018 steel and aluminum tariffs made domestic production more lucrative. But higher prices will cause hardship throughout the manufacturing sector.

After a year and a half of government talks, countless regulatory hiccups and last-minute negotiations, Nippon Steel Corp. secured its much-wanted prize late last week when President Donald Trump approved the $14.

The U.S. Steel and Nippon deal continues to be a point of contention between labor and the presidential administration.

US Steel and Japan's Nippon Steel have US presidential approval for their partnership, injecting billions into US steel industry and creating jobs.