President Donald Trump says U.S. Steel will keep its headquarters in Pittsburgh as part of what he called a “partnership” between the American steelmaker and Japan-based Nippon Steel, which sought to buy it.

A national security panel was divided in its recommendation to President Donald Trump on Nippon Steel 's bid for U.S. Steel but most panel members believe any security risks posed by the deal can be addressed,

President Donald Trump appeared to approve a long-pending deal between U.S. Steel and its Japanese rival Nippon Steel on Friday, posting on his Truth Social account that there will be a “planned partnership” between the two companies.

Japan’s Nippon Steel has pitched a new American plant and billions of additional investments to clinch support for a deal.

India's JSW Steel , the country's top steelmaker by market cap, reported a smaller-than-expected rise in fourth-quarter profit on Friday, hurt by weak steel prices.