U.S. President Donald Trump said he wouldn't mind if Japan's Nippon Steel took a minority stake in U.S. Steel, days after he announced Nippon's bid for the struggling U.S. steelmaker would take the form of an investment instead of a purchase.

President Trump said Friday that Japan's Nippon Steel will drop its $14.1 billion bid to acquire U.S. Steel and instead "invest heavily" in the company.

President Donald Trump is suggesting that Nippon Steel will no longer buy U.S. Steel as planned, but the Japanese company will instead invest in the symbolically important American business

Asian stocks tracked Wall Street higher on Friday, while the dollar eased as investors contended with U.S. President Donald Trump's reciprocal tariffs that were not immediately imposed as well as U.S. data allaying investor worries on inflation.

President Donald J. Trump on Friday afternoon suggested Nippon Steel Corp. has agreed to invest in United States Steel Corp. instead of acquiring the Pittsburgh-based manufacturer as it has been working toward since December 2023 in a $14.9 billion deal blocked by then-President Joe Biden last month.