Trump Claims Government Oversight Role and Board Seat at U.S. Steel Over National Security Concerns
How this policy affects specific groups of people
On Nov. 20, Trump appointed David Shapiro to the U.S. Steel board and designated William Kimmitt to oversee the 'golden share.' The provision allows the government to veto moving the headquarters, closing plants, or transferring jobs outside the U.S. to ensure national security interests.
Reporting from the Wall Street Journal indicates the U.S. government used its 'golden share' authority to block U.S. Steel's plan to shut down production at an Illinois plant. Commerce Secretary Howard Lutnick informed the CEO that the administration would not allow operations to cease.
Document Type
White House Statement
Official Title
Letter From the President to United States Steel Corporation Senior Vice President, General Counsel and Secretary Scot Duncan
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