June 13, 2025economic eventtrade policynational securityindustrial policyforeign investmenteconomic policynational securitytrade
Trump approves U.S. Steel sale with a government golden share
The Trump administration approved the sale of U.S. Steel to Japanese steelmaker Nippon Steel while retaining a government-held golden share giving the United States veto power over strategic decisions. The deal had been blocked by the Biden administration on national security grounds but was restructured to include domestic production commitments and the government equity stake. The golden share mechanism was novel in American industrial policy.