The Pittsburgh-based steel maker and Nippon Steel plan $11 billion in new investments by 2028 after indicating that they plan to move forward with the deal under the terms of a national security agreement that has the White House’s approval.

Administration officials secured a deal that will give the president unusual influence over a private company, and could serve as a model for other deals.

President Donald Trump on Friday signed an executive order paving the way for a Nippon Steel investment in U.S. Steel, so long as the Japanese company complies with a "national security agreement" submitted by the federal government.