President Donald Trump would have unique influence over the operations of U.S. Steel under the terms of the investment being made by Nippon Steel.

Nippon Steel Corp. won conditional U.S. approval for its $14.1 billion purchase of United States Steel Corp., capping a lengthy saga in a tie-up that will create one of the world’s largest steel companies.

Even before the political complications that have hampered Nippon Steel’s U.S. gambit, the offer price looked steep. At $55 a share, Nippon Steel will pay a 142% premium to the level U.S. Steel was trading at before it effectively put itself up for sale in 2023.

The leaders of Britain and the United States had announced a deal last month, but it had not been clear when their agreement would go into effect. Britain hailed the announcement as “a huge win.”

President Donald Trump’s 2018 steel and aluminum tariffs made domestic production more lucrative. But higher prices will cause hardship throughout the manufacturing sector.

After a year and a half of government talks, countless regulatory hiccups and last-minute negotiations, Nippon Steel Corp. secured its much-wanted prize late last week when President Donald Trump approved the $14.

The U.S. Steel and Nippon deal continues to be a point of contention between labor and the presidential administration.

The Trump administration will soon ensure that its 50% steel tariffs, which have threatened to make everything containing steel more expensive, will apply to your next fridge or dishwasher.