President Donald Trump issued an executive order on Friday officially giving the green light to Nippon Steel Corporation's multi-billion-dollar purchase of U.S. Steel Corporation.

TOKYO] Nippon Steel on Saturday (Jun 14) touted a “historic partnership” with US Steel after US President Donald Trump approved a multi-billion-dollar merger. Read more at The Business Times.

The move will also prevent Nippon Steel from transferring production or jobs outside the U.S. without consent of the U.S. president.

President Trump signs executive order allowing U.S. Steel partnership with Japan's Nippon Steel, with an $11 billion investment commitment.

Nippon Steel is expected to complete the acquisition on Wednesday U.S. time, buying all U.S. Steel shares for $14.1 billion.

A U.S. Appeals court on Friday extended a pause in litigation between Nippon Steel and the Trump administration and gave the parties until next Friday to provide updates related to the case over the Japanese steelmaker's $14.