U.S. President Donald Trump said on Friday Japan's Nippon Steel will not buy U.S. Steel and would instead invest in the company, which would dramatically reshape the $15 billion merger bid that had been in negotiation for more than a year.

The nervousness that pervaded Japanese markets on Friday turned briefly to relief after Prime Minister Shigeru Ishiba’s meeting with Donald Trump, then back to uncertainty on Monday after the US president flagged tariffs on imports of steel and aluminum.

U.S. President Donald Trump and Japanese Prime Minister Shigeru Ishiba said on Friday Japan was looking at an investment in U.S. Steel instead of an acquisition.

Japanese Prime Minister Shigeru Ishiba expressed optimism that Japan could avoid higher U.S. tariffs, citing President Donald Trumps recognition of Japans substantial investment in the U.S. and the jobs it

Japanese Prime Minister Shigeru Ishiba went into his first summit meeting with US President Donald Trump amid concerns in Tokyo that Japan could be next in the firing line of US allies after Canada and others.