Trump wields ‘golden share' to halt U.S. Steel plant shutdown, WSJ reports

Core Points - The Trump administration intervened to prevent U.S. Steel from idling operations at its Granite City, Illinois plant, utilizing new powers from a recent takeover [1][2][3] - Nearly 800 workers were initially informed of the plant's closure in November but were assured they would still be paid [2] - The intervention represents the first use of "golden share" rights from the $14.1 billion takeover by Japan's Nippon, granting the White House veto power over strategic decisions [3] Group 1 - The intervention highlights the increasing influence of the Trump administration in the private sector, including a recent 10% stake in Intel following subsidies under the 2022 Chips Act [4] - Trump assured U.S. Steel workers that Nippon would maintain full capacity at the blast furnaces for at least 10 years, promising no layoffs and no outsourcing [5]