The steel company US Steel's shares rose sharply on Friday after US President Donald Trump announced a possible "partnership" between the American company and Japanese Nippon Steel.
Trump's statement about a form of partnership was made on his own platform Truth Social, where he wrote that at least 70,000 jobs would be created and that the partnership would bring in 14 billion dollars to the US economy.
The announcement would, among other things, mean that US Steel's headquarters would remain in Pittsburgh in the state of Pennsylvania.
Earlier, Nippon Steel was stopped from carrying out the controversial purchase of the American steel company, citing national security interests, by both President Joe Biden and Donald Trump.
Earlier in the week, Nippon Steel said the company was willing to invest 14 billion dollars – the amount Trump mentioned – in the American steel company.
