Three months after convincing Nippon Steel to include a “golden share” for the U.S. government as a condition of its acquisition of U.S. Steel, the Trump administration used its power to influence decisions by blocking a plan to shut down production at an Illinois plant, according to a new report.
The Wall Street Journal reported Saturday morning that Commerce Secretary Howard Lutnick told U.S. Steel Chief Executive Dave Burritt the administration would not allow the planned shutdown of operations at a Granite City plant. Mr. Lutnick invoked the government’s golden share, which allows Trump to veto certain decisions, the Journal reported, citing “a person familiar with the matter.”
Pressure from the White House appears to have worked.
U.S. Steel told the Illinois plant’s 800 workers two