The report comes after Trump last Friday said that Nippon Steel ( OTCPK:NPSCY) was considering investing in US Steel ( X ), but won't purchase the entire company. On Thursday Trump suggested that tariffs will save the steel company, and it doesn't need to do a deal with Nippon Steel.

Nippon Steel Corp. slumped the most in four months after a closely watched summit between US President Donald Trump and Japanese Prime Minster Shigeru Ishiba heightened uncertainty over the company’s plan to acquire United States Steel Corp.

Asian stocks tracked Wall Street higher on Friday, while the dollar eased as investors contended with U.S. President Donald Trump's reciprocal tariffs that were not immediately imposed as well as U.S. data allaying investor worries on inflation.