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2h ago

U.S. Steel Keeps Granite City Mill Running After Reported ‘Golden Share’ Veto

The power was created in the national-security deal tied to Nippon Steel’s $14.1 billion purchase, granting Washington a veto over plant closures.

FILE - Rolls of finished steel are seen at the U.S. Steel Granite City Works facility Thursday, June 28, 2018, in Granite City, Ill. (AP Photo/Jeff Roberson, File)
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U.S. President Donald Trump visits U.S. Steel Corporation–Irvin Works in West Mifflin, Pennsylvania, U.S., May 30, 2025. REUTERS/Leah Millis/File Photo
President Donald Trump used this power to halt a planned plant shutdown in Granite City, Ill., The Wall Street Journal first reported.

Overview

  • U.S. Steel said it will continue supplying slabs for processing at Granite City Works indefinitely and did not disclose the solution that enabled the reversal.
  • The Wall Street Journal reported that Commerce Secretary Howard Lutnick told CEO Dave Burritt the administration would not allow operations to cease and that President Trump would invoke the golden-share authority.
  • Two weeks earlier, the company had notified nearly 800 employees that the Illinois plant would idle in November while keeping them on payroll.
  • Granite City Works rolls slabs into sheet steel and has not produced raw steel since its last blast furnace was idled in 2023.
  • Union leaders credited worker and political pressure for the outcome, accused U.S. Steel of testing deal commitments, and are seeking longer-term, enforceable guarantees on jobs and investment.