The takeover allows the Japanese firm to tap into key US infrastructure projects, while rivals face steep 50% tariffs.

Nippon Steel Corp. won conditional US 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.

U.S President Donald Trump formally approved Nippon Steel's fraught $14.9 billion bid for U.S. Steel on Friday, capping a tumultuous 18-month effort by the companies, beset by union opposition and two national security reviews.