Executives in Japan and the US are trying to ease concerns about a controversial takeover deal. They say Nippon Steel's plans to acquire US Steel will ensure the latter remains an "iconic American company for generations to come."

The companies issued a joint statement on Thursday. It says "US Steel will remain an American company and its headquarters will stay in Pittsburgh."

The statement goes on to say the firm's "iconic name will be unchanged, and its products will remain mined, melted and made in America."

Executives say the acquisition will deliver clear benefits to US Steel stakeholders, and to the US as a whole.

The statement is a response to comments by President Joe Biden, who opposes the deal.

Biden told members of the United Steelworkers union that US Steel has been an "iconic American company for more than a century."

He said it should remain "American-owned, American operated by American union steelworkers."