WASHINGTON (TNND) — President Trump announced Friday that U.S. Steel and Nippon Steel will form a new partnership after the Japanese company's bid to acquire U.S. Steel was blocked.

"This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy," Trump wrote on Truth Social.

The president says most of the investment will happen in the next 14 months and described the partnership as the "largest investment in the history of the Commonwealth of Pennsylvania."

U.S. Steel will remain headquartered in Pittsburgh, Pennsylvania and more importantly, Trump said, "In America."

"US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh. For many years, the name, 'United States Steel' was synonymous with Greatness, and now, it will be again," Trump said.

Trump also shared he will be in Pittsburgh on Friday, May 30, for a "BIG Rally."

"My Tariff Policies will ensure that Steel will once again be, forever, MADE IN AMERICA. From Pennsylvania to Arkansas, and from Minnesota to Indiana, AMERICAN MADE is BACK," he wrote.

Former President Joe Biden blocked Nippon Steel's purchase of U.S. Steel back in January over national security concerns.

In April, Trump ordered a review of the sale proposal.