By Alexandra Alper, Makiko Yamazaki and Miho Uranaka WASHINGTON/TOKYO (Reuters) -The U.S. government will have veto power over key decisions relating to U.S. Steel, as part of a deal with Nippon Steel that would approve the Japanese firm's bid for the well-known American steel company,

US Steel edged higher after President Trump appeared to award conditional approval for Nippon Steel's takeover that he described as a "partnership," but lingering questions remain.

President Donald Trump cleared Nippon's bid for U.S. Steel on Friday, referring to the deal as a "partnership."

For Japan's top steelmaker, U.S. Steel is central to its global expansion strategy at a time when domestic demand is declining.

President Donald Trump approved the $14.9 billion sale of U.S. Steel to a Japanese company despite promising before last year's election to block it. However, a union representing thousands of steel workers in Indiana continues to raise concerns about the deal and how it could impact workers.

Is President Trump nationalizing United States Steel? The question arises after the president advised that the “partnership” between the industrial icon and a Japanese steelmaker would leave the firm “controlled by the United States,

What remains of U.S. Steel's footprint locally is centered in the Mon Valley. With the sale to Nippon on the table, many local leaders are pondering what the future looks like either with or without U.