Trump Halts US Steel Plant Closure Using 'Golden Share' Authority: Report - Nippon Steel (OTC:NPSCY)

Group 1 - President Trump utilized the "golden share" authority to prevent the shutdown of the U.S. Steel plant in Granite City, Illinois, which employs 800 workers [1][2] - The "golden share" was a condition for approving Nippon Steel's $14.1 billion acquisition of U.S. Steel, allowing the White House to veto certain corporate actions [2][5] - Commerce Secretary Howard Lutnick intervened, criticizing U.S. Steel's plan to pay idle workers and emphasizing the need to continue operations at the plant [3] Group 2 - Union leaders expressed concerns over the acquisition, fearing plant closures and increased imports of foreign steel, highlighting the need for job security [4] - The acquisition transformed U.S. Steel into a subsidiary of Nippon Steel North America, with expectations to inject billions into the American steel industry and protect over 100,000 jobs [6]