KEY TAKEAWAYS United States Steel shares are jumping in premarket trading Monday, as the Pittsburgh-based company’s takeover by Japan’s Nippon Steel looks set to close following the deal's approval by President Donald Trump.

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

U.S. Steel’s so-called “partnership” with Nippon appears to be nearing its end after about 18 months after it was announced.

The companies said they had entered into an agreement with the U.S. government to alleviate any national security concerns.