President Donald Trump just announced that U.S. Steel and Nippon Steel will be partnering. 

Trump, according to the Daily Caller, made the announcement on Friday.

This appears to be the same deal that the Biden administration stopped.

🚨 BIG WIN FOR AMERICA! 🇺🇸 Trump just announced US Steel is STAYING in Pittsburgh—keeping jobs HERE, not overseas! A massive $14B boost and 70,000 jobs thanks to a deal with Nippon Steel. 💪 While Dems were busy crying, Trump’s tariffs MADE AMERICAN STEEL GREAT AGAIN! 🦅 Sorry,… pic.twitter.com/2Epip0aTxN

— Alec Lace (@AlecLace) May 23, 2025

The announcement

Trump announced the deal on social media.

He wrote:

I am proud to announce that, after much consideration and negotiation, 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 went on to refer to the deal as a "planned partnership."

He wrote:

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. The bulk of that Investment will occur in the next 14 months. This is the largest Investment in the History of the Commonwealth of Pennsylvania. 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.

The president concluded, "I will see you all at US Steel, in Pittsburgh, on Friday, May 30th, for a BIG Rally. CONGRATULATIONS TO ALL!"

Background

The Daily Caller explains how this is a major reversal from the position that had been taken by former President Joe Biden and his administration.

The outlet reports:

The Trump administration’s endorsement of a U.S. Steel-Nippon Steel partnership follows former President Joe Biden’s decision to block the sale of U.S. Steel to its Japanese competitor for nearly $15 billion in January, citing national security and supply chain concerns.

The outlet also notes how "Trump opposed the takeover of U.S. steel by the Japanese steelmaker during his successful 2024 campaign and while serving as president-elect, arguing the Pittsburgh-based company should continue to be domestically-owned."

Trump, though, the outlet continued, "appeared more open to a deal upon taking office." And now the deal appears to have been made.

As you would probably guess, Pennsylvania is celebrating the move, and U.S. Steel is soaring in the stock market.