The provision gives the President the power to appoint a board member and have a say in Nippon Steel's decisions that affect domestic steel production and competition with overseas producers
President Trump approved Nippon Steel’s investment in US Steel, with conditions to protect US national security. The $28 billion deal includes $11 billion in investments, a “golden share” for government control, and commitments to keep US operations active and American-led
Nippon Steel and US Steel blast the decision, say it “reflects a clear violation of due process and the law”, “manipulated” to advance President's political agenda
The operating performance significantly improved in Q1 2021, reflecting the continued demand recovery which supported a 6.5 per cent sequential increase in steel shipments, it said.
