Overview

• President Trump signed an executive order clearing Nippon Steel’s $14.9 billion bid for U.S. Steel after reversing President Biden’s national security block.
• The agreement’s golden share grants the president veto rights over key corporate moves, including facility closures and board selections.
• Nippon Steel will invest $14 billion in U.S. Steel by 2028, with any adjustments to that schedule requiring presidential sign-off.
• The merger will propel the combined entity to the world’s second-largest steelmaker, boosting U.S. output in specialized steel for infrastructure.
• The United Steelworkers union warned that presidential control could complicate labor talks and affect contract negotiations.