President Trump Reveals “Golden Share” Agreement in US Steel-Nippon Steel Deal
President Trump Reveals “Golden Share” Agreement in US Steel-Nippon Steel Deal. In a major economic update this morning, President Donald Trump provided new details on the historic partnership between US Steel and Nippon Steel, Japan’s leading steel producer. Speaking to reporters from the White House East Room, the president confirmed that the US government will retain a “golden share” in US Steel after the deal’s completion.
What Is the “Golden Share” in the US Steel-Nippon Steel Deal?
President Trump emphasized that this provision ensures 51% ownership remains under American control, stating:
“We have a golden share—which I control, or the president controls—giving the US total authority over the company. This safeguards national interests, no matter who holds the presidency.”
Union and Investor Reactions: Calls for Transparency
Despite the announcement, United Steelworkers (USW) union members and investors have raised concerns over the lack of clarity. In a letter to its members, the USW demanded more transparency, saying:
“We have seen nothing credible regarding the nature of this so-called partnership.”
As of now, neither US Steel nor Nippon Steel has publicly responded to these concerns.
Why This Deal Matters
- Economic Impact: Strengthens US-Japan trade relations.
- National Security: Ensures majority American ownership.
- Industry Implications: Could reshape the global steel market.
Stay tuned for further updates on this breaking business news as more details emerge.