US President Donald Trump responds to workers’ reactions at US Steel Corporation-Irvin in West Mifflin, Pennsylvania, United States, May 30, 2025.
Leah Millis | Reuters
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US Steel said Trump owns what the White House calls “gold share” among Pittsburgh companies. However, the revised charter does not mention a future president. According to the SEC application, it said the veto passes the veto to the Treasury and the business sector as representative of the U.S. government after Trump left the office.
A White House official told CNBC Thursday that a future president could designate someone to hold a share of gold or directly veto the veto as Trump did.
“President Trump can also designate others in the role, but choose to hold it himself,” the official said.
Trump approves controversial U.S. steel merger with Japan Japanese Steel On June 13, the two companies signed National Security Agreement Together with the United States, I accepted the “gold sharing” arrangement. Trump opposes the deal in the 2024 presidential election.
The agency that examines the transactions of Nepali in the United States, Trump’s direct involvement in solving the government’s national security issues is unprecedented.
But it can also be said to be for appearance reasons, Hefts said. Heifetz said the Treasury and business sectors that will exercise “gold sharing” after Trump leaves the office are armed and work for the U.S. president.
Trump said on June 12 at the White House: “We have a golden share, or the president’s control.”
According to the Securities and Exchange Commission (SEC) filing, the gold share gave Trump, which later gave the Treasury and the business sector the power to veto the business decisions of the US Steel Corporation (SEC).
- Change the name of US Steel, move its headquarters from Pittsburgh, and move the company outside the US
- By idling, sales production locations by 2035 and granite cities in U.S. steel work until 2027.
- Cut employees’ basic salary by 2030.
- Reduce, abandon or delay the timetable with $10.8 billion in capital investment.
- Acquisition of any U.S. business that competes with U.S. Steel or its suppliers.
United Steel Plant International President David McCall said Trump “has amazing personal power over the company’s personal power” through his gold share.
Trump avoided calling a deal between U.S. steel and Japan a merger or acquisition, but instead described it as a “partnership.”
But US Steel is now a wholly-owned subsidiary of North America Japan Steel, whose share Stop trading At the end of trading on June 18, on the New York Stock Exchange. US Steel is scheduled to officially withdraw from the exchange on June 30.
