Trump’s nod for Nippon Steel raises questions

Positive light: The US Steel Edgar Thomson Works in North Braddock, Pennsylvania. Shares of the steelmaker skyrocketed as much as 24% after Trump announced his support for a partnership with Nippon Steel. — AFP

WASHINGTON: After more than 17 months of lobbying and close-fought negotiations to secure control of United States Steel Corp, Japan’s Nippon Steel Corp appeared to have received a presidential blessing.

Days later, however, investors, executives and diplomats are still unsure of what exactly the US President endorsed.