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International Business Times
International Business Times
Business

US Steel, Nippon Partnership Proceeds With Security Deal, 'Golden Share'

US Steel Nippon Donald Trump United States Nippon Steel National Security Howard Lutnick Companies NSA
The partnership deal between US Steel and Nippon Steel features a 'golden share' for the US government, giving Washington a crucial veto over certain activities (Credit: AFP)

The partnership between US Steel and Nippon Steel has reached a new phase, with an agreement on US national security guarantees, in addition to the so-called "golden share" advantage obtained by President Donald Trump's administration.

On Friday evening, Trump signed an executive order approving the partnership, bringing an end to the long-running saga over foreign ownership of a key national asset which began in December 2023, when US Steel and Nippon Steel announced plans for a $14.9 billion merger.

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