Features

Washington considers stake in U.S. Steel as part of Nippon deal: Report

Written by Ethan Bernard

May 27, 2025

The US government could acquire a stake in U.S. Steel as part of Nippon Steel’s $14-billion deal for the Pittsburgh-based steelmaker, according to various media reports.

The Trump administration sees Washington, D.C., acquiring a “golden share” as part of the deal, according to an article in Kyodo News on Tuesday.

This would give the US government  “special rights to block certain actions by Nippon Steel such as slashing production capacity,” the article said.

Sen. Dave McCormick (R-Pa.) told CNBC on Tuesday the government would also have a say over the selection of some of the company’s board members, according to an article in The Hill.

Recall that President Trump gave the OK for a “partnership” between U.S. Steel and Nippon late Friday afternoon. However, the details of the deal have yet to be revealed.

“It’s an investment and it’s a partial ownership, but it will be controlled by the USA,” Kyodo News reported President Trump saying on Sunday.

Nippon declined to comment for this article and U.S. Steel did not return a request for comment by time of publication.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Read more from Ethan Bernard

Latest in Features