Nippon Steel's $14.9-billion acquisition of U.S. Steel closed on Wednesday, the companies said, confirming an unusual degree of power for President Donald Trump after the Japanese company's 18-month struggle to close the purchase.

Japan-based Nippon Steel on Wednesday completed its buyout of U.S. Steel, changing its name to Nippon Steel North America, as the former U.S. industrial giant ended trading on Wall Street under its former brand name.

U.S. Steel shares stopped trading on the New York Stock Exchange after Japan's Nippon Steel completed its acquisition. President Donald Trump has insisted for weeks that the companies would form a "partnership" in which U.