WASHINGTON (Reuters) - Nippon steel has not withdrawn its $14.9 billion bid to buy U.S. Steel, two people close to the deal said on Friday, after President Donald Trump said earlier the Japanese steelmaker would "invest" in US Steel but not buy it.

WASHINGTON—President Trump said he supported what he described as an emerging agreement that would allow Nippon Steel to invest in—but not fully own—U.S. Steel, potentially opening up a new path for the Japanese company to enter the American steel market.

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.