The Pittsburgh-based steel maker and Nippon Steel plan $11 billion in new investments by 2028 after indicating that they plan to move forward with the deal under the terms of a national security agreement that has the White House’s approval.

The latest revelations expand on an earlier executive order signed by President Donald Trump that authorised the foreign investment as part of a national security agreement.

Trump announced what he called a "planned partnership" between the two companies on May 23. The president's statement created confusion because U.S. Steel has said since December