President Trump says Japan's Nippon Steel will invest new technology in U.S. Steel after President Biden blocked an acquisition last month. The Gary mayor said he's happy the chances for some sort of investment is still alive.

President Trump supports the Japanese company’s taking a stake in the American steel maker after the U.S. blocked a $14 billion takeover bid.

U.S. President Donald Trump said Nippon Steel's $14.9 billion bid for U.S. Steel would take the form of an investment instead of a purchase on Friday, even as two sources familiar with the matter said the Japanese steel company had not withdrawn its bid.