Nippon Steel can complete its purchase of U.S. Steel after the Tokyo steelmaking giant reached a deal with the Trump administration resolving national-security concerns.

The WSJ’s Bob Tita writes that the pact includes the issuance of a so-called golden share to the U.S. government, giving it authority over the storied Pittsburgh steelmaker’s production and trade affairs. The deal also calls for Nippon Steel to make about $11 billion in new investments over the next three years. A commitment to build a new steel mill after 2028 would boost that total investment to $14 billion. Friday’s executive order allowing the deal–which Trump has repeatedly referred to as a partnership–followed months of discussions between White House officials and Nippon Steel executives. The order says agreed-upon enforcement and monitoring measures mitigate any risk to national security from the deal.

United Steelworkers union leadership has been opposed to the sale, and said it couldn’t comment on the deal without knowing what was in the national-security agreement. Some local union officials have supported the deal, fearing mill closures if it fell apart. The deal comes as U.S. steel prices have weakened after buyers stocked up before new tariffs drove up import prices.

China is getting less interested in other countries’ goods. The Journal’s Jason Douglas and Clarence Leong write that China’s imports are stagnant even as exports grow. Chinese leader Xi Jinping is trying to ensure his nation is self-sufficient in key technologies. Chinese companies are replacing overseas suppliers with China-based ones to localize their supply chains and push out imports—a trend given extra impetus by the trade conflict with the U.S. That could make it harder for Washington and Beijing to agree to a long-term trade deal involving more Chinese purchases of U.S. goods. Chinese demand for many of the exports other countries produce is flat or falling, even as its economy reports modest growth of around 5% a year. Adjusted for the effect of exchange rates, Chinese imports through March haven’t grown at all since the end of 2022—while exports have rocketed up by a third.

• China’s plan to get consumers spending may be working a little too well, with funds used on subsidies for smartphones, appliances and other products running out faster than planned. (WSJ)
• Some Chinese companies are taking their data outside China so they can use American AI chips and skirt tightening U.S. restrictions on the sale of high-end chips and other tech to China. (WSJ)
• Chinese HVAC-components maker Zhejiang Sanhua Intelligent Controls is looking to raise up to about $1 billion in a planned secondary listing in Hong Kong. (WSJ)
• The U.S.-China trade truce left unresolved the issue of export restrictions on rare-earths and AI chips linked to national-security concerns. (Reuters)
• Taiwan added China’s Huawei Technologies and Semiconductor Manufacturing International to a list of entities that raise national security concerns. (Bloomberg)
• Air-cargo volumes from China and Hong Kong to the U.S., as measured by flown chargeable weight, fell 10% in the week ending June 8 from the previous week, according to WorldACD data. (Air Cargo News)

JetZero plans to break ground next year on a plant in North Carolina to build its blended-wing airplanes for commercial use by 2032. The WSJ’s Owen Tucker-Smith writes that the Long Beach, Calif., company would ultimately invest nearly $5 billion there, and employ more than 14,500 workers–the state’s biggest-ever jobs announcement. JetZero has been working with the Air Force for years to develop a blended-wing plane. Its Z4 model would be a first for commercial passengers. Construction on the factory in Greensboro is slated for the first half of 2026, with a full-scale prototype of the plane planned for 2027. The Z4 will seat roughly 250 passengers, and the company said its factory would eventually be able to produce up to 20 planes a month. Alaska Airlines and United Airlines have invested in the startup, and United plans to order up to 200 of its airplanes.

U.S. consumers’ mood brightened in June on signs the trade war hasn’t caused major economic upheaval thus far, though sentiment reflects an unsettled view of the economy. (WSJ)

The Bank of Japan is likely to stand pat again this week, given continued uncertainty about trade negotiations and the impact of tariffs on the global economy. (WSJ)

European Union exports to the U.S. fell by a third in April as tariffs hit, reversing March’s record high when American importers stocked up ahead of the new duties. (WSJ)

The Trump administration directed immigration officers to pause arrests at farms, restaurants and hotels. (WSJ)

Israel and Iran struck at each other’s energy facilities over the weekend, a significant escalation that brings the conflict closer to an industry vital to the global economy and markets. (WSJ)

Reports emerged of increased electronic interference in the Strait of Hormuz, but commercial-vessel traffic remained unimpeded as of Sunday. (TradeWinds)

Walmart, Amazon and other big companies have explored issuing their own stablecoins in the U.S., potentially saving them billions of dollars in traditional financial fees. (WSJ)

Brazil’s JBS, the world’s biggest meat company, debuted on the NYSE in a listing that faced scrutiny due to past corruption scandals and environmental concerns. (WSJ)

KKR is preparing a bid for Spectris, a U.K. maker of high-tech instruments, testing equipment and software for the automotive and manufacturing sectors. (WSJ)

Toronto’s Dundee Precious Metals will buy Adriatic Metals for about $1.3 billion in a deal that includes a silver, lead, zinc, and gold mine in Bosnia and Herzegovina. (WSJ)

North Korean dictator Kim Jong Un claimed a destroyer that capsized during launching last month had been fixed, but it wasn’t clear whether the 5,000-ton vessel was operational. (WSJ)

Union Pacific will offer shippers up to $250,000 in liability insurance against cargo theft, a growing problem in the rail industry. (Journal of Commerce)

FedEx plans to adjust its rates and pricing structure for package pickups in the U.S. and Canada  on Aug. 18. (Supply Chain Dive)

California Gov. Gain Newsom signed an executive order directing state agencies to speed up adoption of zero-emission vehicles, shortly after Trump signed a resolution blocking state clean-air rules. (KTLA)

Work on a five-year, $25 million study of alternatives for managing the lower Mississippi River was paused after the Army Corps of Engineers received no funds for it in its 2025 work plan. (Waterways Journal)

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.