Steelmaking takes iron and carbon, and now some gold, too. On Friday, US President Donald Trump approved the long-in-limbo merger of US Steel with Japanese company Nippon Steel, which had been held up for months by the US government on national security concerns. A breakthrough only came after the companies agreed to give the US government veto power over certain aspects of corporate governance, US production, and trade. “We have a golden share, which I control,” Trump explained on Thursday, adding that it would give him “total control” over relevant US Steel business decisions. Over the weekend, new details emerged about how the share is intended to work, provoking some comparisons with nationalization schemes in other countries.
Did Trump effectively nationalize US Steel with his ‘golden share’? – Atlantic Council
