Trump administration offers some details of how it would control US Steel, but union raises concerns

[Dulcinea]

CALGARY, Alberta (AP) — President Donald Trump would have unique influence over the operations of U.S. Steel under the terms of what the White House calls an “investment” being made by Japan-based Nippon Steel in the iconic American steelmaker.

Administration officials over the past few days provided additional insight into the “golden share” arrangement that the federal government made as a condition for supporting the deal.

The Pittsburgh-based steel maker and Nippon Steel plan $11 billion in new investments by 2028 after indicating that they plan to move forward with the deal under the terms of a national security agreement that has the White House’s approval.

The White House has described the deal as a “partnership” and an “investment” by Nippon Steel in U.S. Steel, although Nippon Steel has never backed off its stated intention of buying and controlling U.S. Steel as a wholly owned subsidiary in a nearly $15 billion offer it originally made in late 2023.

https://apnews.com/article/trump-us-steel-nippon-steel-golden-share-463049c93d7ddedd334dbc34b84c771b

[hildegaard28]

1. Sounds a lot

Like communism. Leave it to Republicans to march us straight into Communism after screaming so loudly against it. Just one more thing that makes them all frauds.

[livetohike]

2. We know that the workers will be screwed. My Dad

(RIP) retired from E.T. in Braddock. I can imagine what he would be saying right now. Why anyone trusts The Felon in any “deals” will remain a mystery to me.