A: Hey buddy! Did you hear about that news?
B: No, what's up?

A: Well, Trump's gonna let US Steel team up with Nippon Steel from Japan!
B: Really? What does that mean for the ownership though?

A: Well, not sure yet. But he said it could create 70,000 jobs and add $14 billion to our economy.
B: That's a lot of jobs! Sounds good if it goes well, I guess.

A: Yeah, for now Trump only approved the partnership. He didn't say whether Nippon Steel can fully own US Steel or not.
B: Hmmm, interesting... So we'll see what happens next!
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US President Donald Trump appears set to approve what he calls "a planned partnership" between US Steel and Japan's Nippon Steel. But it remains unclear how much ownership the president will allow the Japanese firm to gain.



Trump wrote in a social media post on Friday, "I am proud to announce that, after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh."



He also said, "This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy."



Nippon Steel issued a statement on Saturday after Trump's post, acknowledging his decision to approve the partnership between the two firms.



The firm said that the partnership between the two will be a major turning point for US Steel and all its stakeholders, as well as the US steel and manufacturing industries as a whole.



Meanwhile, Trump's post did not contain details, such as whether he would approve the Japanese company's plan to make US Steel a wholly-owned subsidiary.



The president had welcomed more investment by Nippon Steel, but took a negative stance on the Japanese company's plan to make US Steel a subsidiary.



Observers are closely watching to see if Trump will approve the plan to turn US Steel into a subsidiary of Nippon Steel, and what percentage of shares the Japanese firm will be allowed to acquire.