Gary, Indiana Mayor Eddie Melton has said Nippon Steel plans to pump $1 billion into the U.S. Steel Gary Works.

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.

United States Steel shares are jumping in premarket trading Monday, as the Pittsburgh-based company’s takeover by Japan’s Nippon Steel looks set to close following the deal's approval by President Donald Trump.

The companies said they had entered into an agreement with the U.S. government to alleviate any national security concerns.

For Japan and many other countries, the vulnerability that comes with relying on U.S. markets has become startlingly clear. First came tariffs on Canada, China, and Mexico. Then, in February, the administration introduced a 25 percent tariff on steel and aluminum (this week,

An unusual move by the Trump administration to give itself a golden share in U.S. Steel as part of a deal to approve Nippon Steel's takeover of the well-known U.S. company could drive away foreign investors in U.