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The President's Golden Share in U.S. Steel

Planet Money

2025/07/25
Planet Money

Planet Money

2025/07/25

Shownote

LIVE SHOW ALERT: August 18th, NYC. Get your tickets here. When news broke that a Japanese company, Nippon Steel, was buying the storied American steel company U.S. Steel, it was still 2023, just before an election. And right away, politicians from both s...

Highlights

The sale of U.S. Steel to the Japanese company Nippon Steel ignited a fierce political debate, drawing reactions from both sides of the aisle and involving decisions from two U.S. presidents. What began as a corporate acquisition quickly became a national conversation about foreign investment, government control, and the future of American manufacturing.
02:55
President Trump approved the deal with a 'golden share' condition
06:12
CFIUS has historically focused on defense-related companies, as seen in the SoftBank-Sprint deal
19:16
Trump's approval granted the U.S. a golden share with veto power over major decisions
25:52
Companies taking such deals face substantial risk.

Chapters

Political Frenzy Over a Steel Giant's Sale
00:00
Who Watches the Watchmen? CFIUS and Foreign Investment
06:12
Golden Share: Power Without Ownership
12:41
Steel Deal: A Win for Jobs or a Risk for Markets?
25:52

Transcript

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