MORRISTOWN, New Jersey, May 25 (Reuters) - President Donald Trump said on Sunday that the United States will have control over U.S. Steel (X.N), opens new tab as part of the company's partnership with Japanese firm Nippon Steel (5401.T), opens new tab. As part of the deal announced, opens new tab on Friday, Nippon Steel plans to invest $14 billion into U.S. Steel's operations, including up to $4 billion in a new steel mill. Trump said on Friday the merger would create 70,000 jobs. Pressed for more details of the agreement, Trump said on Sunday: "It will be controlled by the United States, otherwise I wouldn't make the deal." Advertisement · Scroll to continue Speaking to reporters as he left for Washington after a weekend at his New Jersey golf club, Trump said relevant lawmakers had pressed him to make the deal. "It's an investment and it's a partial ownership, but it will be controlled by the USA," he said. The merger would create the world's third-largest steel producer by volume, following China's Baowu Steel Group and Luxembourg-based ArcelorMittal (MT.LU), opens new tab, according to World Steel Association data. While no details were released, investors have expressed confidence that terms will be similar to those agreed in 2023. Investors have said that eventually U.S. Steel will no longer be publicly traded and they will receive a cash payout for their shares. Advertisement · Scroll to continue The deal has been one of the most highly anticipated on Wall Street after it morphed into the political arena with fears that foreign ownership would mean job losses in Pennsylvania, where U.S. Steel is headquartered. Ad Break Coming Up NEXT StayNext OffEnglish 180p288p360p480p540p576p720pHD1080pHDAuto (180p) About ConnatixV584889 About ConnatixV584889 1/100:00Trump delays EU tariffs until July to allow time for more talks Continue watchingTrump delays EU tariffs until July to allow time for more talksafter the adVisit Advertiser websiteGO TO PAGE Reporting by Jeff Mason and Steve Holland; Editing by Tom Hogue and Muralikumar Anantharaman Purchase Licensing Rights Jeff MasonThomson ReutersJeff Mason is a White House Correspondent for Reuters. He has covered the presidencies of Barack Obama, Donald Trump and Joe Biden and the presidential campaigns of Biden, Trump, Obama, Hillary Clinton and John McCain. He served as president of the White House Correspondents’ Association in 2016-2017, leading the press corps in advocating for press freedom in the early days of the Trump administration. His and the WHCA's work was recognized with Deutsche Welle's "Freedom of Speech Award." Jeff has asked pointed questions of domestic and foreign leaders, including Russian President Vladimir Putin and North Korea's Kim Jong Un. He is a winner of the WHCA's “Excellence in Presidential News Coverage Under Deadline Pressure" award and co-winner of the Association for Business Journalists' "Breaking News" award. Jeff began his career in Frankfurt, Germany as a business reporter before being posted to Brussels, Belgium, where he covered the European Union. Jeff appears regularly on television and radio and teaches political journalism at Georgetown University. He is a graduate of Northwestern University's Medill School of Journalism and a former Fulbright scholar.