The partnership will create around 70,000 new jobs and add $14 billion to the economy over the next 14 months, Trump said.

Japan’s Nippon Steel has pitched a new American plant and billions of additional investments to clinch support for a deal.

A national security panel was divided in its recommendation to President Donald Trump on Nippon Steel 's bid for U.S. Steel but most panel members believe any security risks posed by the deal can be addressed,

The new deadline became more clear Wednesday with the expected completion of a confidential review within the 45-day period laid out in an April 7 memorandum from Trump to cabinet members. By law, the completion of the review is followed by a 15-day window for the president to arrive at a final determination.

Many of Trump’s other new tariffs remain in place, raising costs for importers and manufacturers. The levies include a 10% across-the-board tariff on imports from nearly every country, as well as tariffs on specific sectors such as automotive imports and steel and aluminum imports.

The emissions-heavy industry received more than $1 billion in funds to clean up its production. Some projects have already pulled back.

JSW Steel USA CEO Robert Simon joins 'Fox & Friends First' to discuss why he supports President Donald Trump's tariffs, the importance of domestic production and how the job market has benefited.

President Donald Trump on Friday threatened a 50% tariff on goods from the European Union, citing a lack of progress in current trade negotiations.