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Trump is already wielding his ‘golden
share’ authority at U.S. Steel, overriding
the company’s plans for an Illinois
plant, report says

Original Article

Posted By: sunset, 9/21/2025 2:17:08 AM

Just when U.S. Steel thought the ink had dried on its new future with Japan’s Nippon Steel, the company ran into a political reality check: President Donald Trump’s administration and its new “golden share” authority. The golden share—essentially a veto power over certain corporate moves—was a condition for White House approval of Nippon Steel’s $14.1 billion acquisition of U.S. Steel in June. The president used this power to halt a planned plant shutdown in Granite City, Ill. Two weeks ago, U.S. Steel notified the Granite City plant and its 800 workers that operations would cease in November. The company planned to pay the employees, despite closing steel production.

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Reply 1 - Posted by: NotaBene 9/21/2025 2:50:52 AM (No. 2006866)
Trump is good for Mainstreet. If you don’t pay taxes Trump dontdunuffin for you, parasite.
9 people like this.

Reply 2 - Posted by: qr4j 9/21/2025 4:47:46 AM (No. 2006876)
Mr. Trump saved 800 Illinois jobs. Will Illinois Guv Jelly-Belly give him any credit? Probably not. But then JB is all about Chicago — that once wonderful, now failing, city on Lake Michigan. Thank you, Mr. President. Workers in the Land of Lincoln appreciate your having their back.
17 people like this.

Reply 3 - Posted by: Strike3 9/21/2025 5:38:47 AM (No. 2006882)
A beneficial side effect is a poke in the eye of porcine Porky Pritzker whose TDS-driven policies are running chicago and the state of Illinois into the ground. His main concern would be future donations from the steel workers union, a subsidiary funding bank of democrat campaigns.
11 people like this.

Reply 4 - Posted by: NamVet70 9/21/2025 9:26:26 AM (No. 2006974)
The title of the article did not get to the point. The company wanted to shutdown the plant. If that had been allowed, then I'm sure the story that Trump allowed the shutdown would soon follow.
3 people like this.

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Trump is already wielding his ‘golden
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Posted by sunset 9/21/2025 2:17:08 AM Post Reply
Just when U.S. Steel thought the ink had dried on its new future with Japan’s Nippon Steel, the company ran into a political reality check: President Donald Trump’s administration and its new “golden share” authority. The golden share—essentially a veto power over certain corporate moves—was a condition for White House approval of Nippon Steel’s $14.1 billion acquisition of U.S. Steel in June. The president used this power to halt a planned plant shutdown in Granite City, Ill. Two weeks ago, U.S. Steel notified the Granite City plant and its 800 workers that operations would cease in November. The company planned to pay the employees, despite closing steel production.
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