Reported 1 day ago
The Trump administration intervened to block United States Steel Corp. from ceasing operations at its Illinois plant, emphasizing the government's ongoing influence over the firm following its acquisition by Japan's Nippon Steel Corp. The Commerce Secretary informed US Steel's CEO that the administration would utilize a 'golden share' provision to keep production running, amidst contentious negotiations that highlighted the deal's political implications for the 2024 election. US Steel stated it would maintain operations at the Granite City facility while reducing slab consumption at other locations.
Source: YAHOO