U.S. Steel-Nippon deal includes "golden share" giving Trump power to approve big corporate changes - CBS News

The president has the authority to name one of the corporate board's independent three directors and can veto the other two choices, the Associated Press reported, citing a person familiar with the terms of the agreement who insisted on anonymity to discuss them. The details of the board structure were first reported by The New York Times...

https://www.cbsnews.com/news/us-steel-golden-share-trump-approval-relocation-jobs-nippon/ 

 

Trump announces 50% steel tariffs and hails ‘blockbuster’ deal with Japan | Trump tariffs | The Guardian

President tells Pennsylvania rally tariffs will aid workers but questions raised over nature of Nippon Steel investment…

https://www.theguardian.com/us-news/2025/may/30/trump-tariffs-steel-japan 

 

Senator John Fetterman vows to block ‘outrageous’ $14.9bn US Steel sale

"Neither US Steel nor Nippon reached out to our union regarding the deal, which is in itself a violation of our partnership agreement that requires US Steel to notify us of a change in control or business conditions," McCall told Axios, calling the sale "shortsighted". 

A previous buyout offer in August, worth $7.3bn, by rival company Cleveland Cliffs, was rejected by US Steel. That offer did have the support of the USW union, which praised the Ohio-based Cleveland Cliffs as being "in the best position to ensure that US-based manufacturing remains strong in this country", and noted it didn't cut jobs during previous acquisitions in 2019 and 2020…

https://www.theguardian.com/us-news/2023/dec/19/john-fetterman-vote-block-us-steel-sale