Trump clears U.S. Steel sale to Nippon Steel, but details of merger still unclear

President Trump on Friday cleared the way for Japan-based Nippon Steel to potentially acquire U.S. Steel, though details about the structure of the deal — including a possible "golden share" held by the federal government — remain unclear. 

The president signed an executive order that says Nippon can buy the iconic Pittsburgh-based steelmaker as long as both parties sign a "national security agreement."

The two companies announced in a joint statement Friday that they agreed to the terms of the government's national security agreement, which they said mandates $11 billion in new investments by 2028 and provides for "a Golden Share to be issued to the U.S. Government."