{"id":14522,"date":"2025-06-25T21:19:11","date_gmt":"2025-06-25T21:19:11","guid":{"rendered":"https:\/\/www.europesays.com\/us\/14522\/"},"modified":"2025-06-25T21:19:11","modified_gmt":"2025-06-25T21:19:11","slug":"trump-gets-golden-share-power-in-us-steel-buyout","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/14522\/","title":{"rendered":"Trump gets ‘golden share’ power in US Steel buyout"},"content":{"rendered":"

HARRISBURG, Pa. (AP) \u2014 President Donald Trump<\/a> will control the so-called \u201cgolden share\u201d that\u2019s part of the national security agreement under which he allowed Japan-based Nippon Steel to buy out iconic American steelmaker U.S. Steel, according to disclosures with the U.S. Securities and Exchange Commission.<\/p>\n

The provision<\/a> gives the president the power to appoint a board member and have a say in company decisions that affect domestic steel production and competition with overseas producers. <\/p>\n

Under the provision, Trump \u2014 or someone he designates \u2014 controls that decision-making power while he is president. However, control over those powers reverts to the Treasury Department and the Commerce Department when anyone else is president, according to the filings.<\/p>\n

The White House didn\u2019t immediately respond to questions Wednesday about why Trump will directly control the decision-making and why it goes to the Treasury and Commerce departments under future presidents.<\/p>\n

Nippon Steel\u2019s nearly $15 billion buyout of Pittsburgh-based U.S. Steel became final last week, making U.S. Steel a wholly owned subsidiary. <\/p>\n

Trump has sought to characterize the acquisition as a \u201cpartnership\u201d between the two companies after he at first vowed to block the deal<\/a> \u2014 as former President Joe Biden<\/a> did on his way out of the White House \u2014 before changing his mind<\/a> after he became president.<\/p>\n

The national security agreement<\/a> became effective June 13 and is between Nippon Steel, as well as its American subsidiary, and the federal government, represented by the departments of Commerce and Treasury, according to the disclosures.<\/p>\n

The complete national security agreement hasn\u2019t been published publicly, although aspects of it have been outlined in statements and securities filings made by the companies, U.S. Steel said Wednesday.<\/p>\n

The pursuit by Nippon Steel<\/a> dragged on for a year and-a-half, weighed down by national security concerns, opposition by the United Steelworkers and presidential politics<\/a> in the premier battleground state of Pennsylvania, where U.S. Steel is headquartered.<\/p>\n

The combined company will become the world\u2019s fourth-largest steelmaker in an industry dominated by Chinese companies, and bring what analysts say is Nippon Steel\u2019s top-notch technology to U.S. Steel\u2019s antiquated steelmaking processes, plus a commitment to invest $11 billion to upgrade U.S. Steel facilities.<\/p>\n

The potential that the deal could be permanently blocked forced Nippon Steel to sweeten the deal. <\/p>\n

That included upping its capital commitments in U.S. Steel facilities and adding the golden share provision, giving Trump the right to appoint an independent director and veto power on specific matters. <\/p>\n

Those matters include reductions in Nippon Steel\u2019s capital commitments in the national security agreement; changing U.S. Steel\u2019s name and headquarters; closing or idling U.S. Steel\u2019s plants; transferring production or jobs outside of the U.S.; buying competing businesses in the U.S.; and certain decisions on trade, labor and sourcing outside the U.S.<\/p>\n

___<\/p>\n

Follow Marc Levy on X at: https:\/\/x.com\/timelywriter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"HARRISBURG, Pa. (AP) \u2014 President Donald Trump will control the so-called \u201cgolden share\u201d that\u2019s part of the national…\n","protected":false},"author":3,"featured_media":14523,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[64,69,57,2055,14943,170,82,14944,5217,2830,80,14947,14945,14946,67,370,132,68,93],"class_list":{"0":"post-14522","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-donald-trump","10":"tag-general-news","11":"tag-government-and-politics","12":"tag-harrisburg","13":"tag-japan","14":"tag-joe-biden","15":"tag-national-security","16":"tag-pa-state-wire","17":"tag-pennsylvania","18":"tag-politics","19":"tag-production-facilities","20":"tag-u-s-department-of-commerce","21":"tag-u-s-securities-and-exchange-commission","22":"tag-united-states","23":"tag-united-states-government","24":"tag-unitedstates","25":"tag-us","26":"tag-washington-news"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114746095321001141","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/14522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=14522"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/14522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/14523"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=14522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=14522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=14522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}