U.S. Steel and Japan’s Nippon Steel announced Wednesday morning that they have entered into a historic agreement together, days after President Donald Trump approved the merger.

The $14.1 billion deal is expected to create more than 100,000 jobs in the steelmaking industry, the corporations said in a joint statement. Nippon will make at least $11 billion in new investments in U.S. Steel by 2028, which includes initial spending on a greenfield project that will be completed after 2028.

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“I am very pleased that the partnership between Nippon Steel and U.S. Steel has been realized thanks to President Trump’s historic and visionary decision,” said Nippon Chairman and CEO Eiji Hashimoto.

On Friday, Trump signed an executive order to approve the U.S. Steel-Nippon merger. The partnership has been delayed after Trump initially opposed it during his presidential campaign and former President Joe Biden blocked the merger before leaving office in January.

Trump expects the merger to create at least 70,000 jobs and pump $14 billion into the U.S. economy.

The president’s executive action followed the two companies’ entry into a national security agreement with the federal government, which will receive a “golden share” from U.S. Steel. The “golden share” is said to give Trump control over any corporate changes.

Commerce Secretary Howard Lutnick provided the details of the so-called “golden share” over the weekend, explaining it contains “powerful terms that directly benefit and protect America, Pennsylvania, the great steelworkers of U.S. Steel, and U.S. manufacturers that will have massively expanded access to domestically produced steel.”

As part of Wednesday’s agreement, U.S. Steel will keep its name and headquarters in Pittsburgh, Pennsylvania, in accordance with the “golden share” agreement. U.S. Steel holds facilities in Pennsylvania, Indiana, Arkansas, Minnesota, and Alabama.

TRUMP’S US STEEL DEAL IS A WIN FOR AMERICA

“Thanks to President Trump’s bold leadership, American workers secured the best possible deal,” U.S. Steel CEO Dave Burritt said.

“U. S. Steel will remain rooted in the United States and continue to call Pittsburgh home. Through our partnership with Nippon Steel, we are poised to grow better and bigger, with transformative investment, cutting-edge technology, and the creation of good-paying jobs across the United States.”