Trump's 'Golden Share' in US Steel: A Strategic Leverage

In a notable development, former President Donald Trump is set to hold the 'golden share' under the national security agreement as Nippon Steel acquires US Steel, ensuring a strategic level of influence over company decisions, according to disclosures with the US Securities and Exchange Commission.

The provision grants the president authority to appoint a board member and influence decisions impacting US steel production and competition with international producers. This influence remains with Trump during his presidency, transitioning to the Treasury and Commerce Departments under other presidents.

This acquisition, concluded as Nippon Steel completed its purchase of the historic Pittsburgh-based steelmaker, brings together top-notch technology and substantial investment commitments aimed at modernizing US Steel's antiquated processes, setting the stage for a powerful industry player on the global steel stage.

(With inputs from agencies.)