Hit by Trump's veto, Nippon Steel reverses US plant plan

Administration's 'golden share' blocks US Steel's post-merger restructuring

20250920 Nippon US Steel

Washington holding a 'golden share' in U.S. Steel was part of negotiations for Nippon Steel to acquire the company.  (Source photos by AP) 

NAOKI MATSUDA and AZUSA KAWAKAMI

TOKYO/NEW YORK -- The Trump administration has blocked a plan by Nippon Steel to halt the operation of a U.S. Steel plant, invoking its "golden share" in the American steelmaker to intervene.

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