Nippon Steel Corp. plans to invest $14 billion in United States Steel Corp. if the Trump administration approves the merger of the companies, Reuters reported.Details of the plan include Nippon Steel investing $4 billion in a new steel mill,

President Trump endorsed a plan that would link the U.S. and Japanese steel makers that had been blocked on national security grounds.

President Trump threw his support behind a new "partnership" between US Steel and Japan's Nippon Steel, sending the American firm's share price skyrocketing.