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The Latest Breaking News from US Steel

Trump's Controlling Stake in U.S. Steel Is Indefensible Socialist Nonsense

Any decisions made by U.S. Steel's executives and shareholders will require approval from Trump, his appointees, or his successors.

Reason

Trump Gets 'Golden Share' In $14 Billion US Steel Deal, But Control Shifts To Federal Agencies Under Future Presidents

Nippon Steel Corp. (OTC:NPSCY) completed its acquisition of United States Steel Corp. (NYSE:X), with President Donald Trump securing unprecedented “golden share” powers that grant the U.S. government veto authority over key corporate decisions.

Benzinga

US Steel buyout gives Trump a new power: What about future presidents?

President Trump holds a veto power on specific matters and has the right to appoint an independent director as part of the Nippon Steel takeover.

Euronews

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With his 'golden share' in U.S. Steel, Trump turns to a mechanism more common elsewhere in the world

Nippon Steel offered Washington a "golden share," which gives the government oversight over some decisions, to get approval for its takeover of U.S. Steel.

Fortune

Trump-Backed US Steel Deal with Nippon Finalized, Sparks Job Boom

US Steel finalizes deal with Nippon Steel, backed by Trump, promising over 100,000 US jobs and $11 billion in investments.

International Business Times

Nippon Steel finalises US Steel takeover after state opposition

The pursuit by Nippon Steel of the Pittsburgh-based company has hindered by national security concerns

Euronews

Trump news at a glance: president equivocates on Iran as US split over intervention

Possibility of US intervention is exposing sharp divisions in president Donald Trump’s base – key US politics stories from 18 June

The Guardian - US

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Nippon, US Steel Say They Have Completed Partnership Deal

Nippon Steel and US Steel announced Wednesday they have completed a partnership deal in which the US government will essentially have veto power over significant decisions affecting US jobs.

International Business Times

Nippon Steel finalizes $15B takeover of US Steel after sealing national security agreement

Nippon Steel and U.S. Steel say they've finalized their “historic partnership,” a year-and-a-half after the Japanese company first proposed its deal to buy the iconic American steelmaker for nearly $15 billion

The Independent UK

Oil prices rise and US futures fall as Israel urges residents of Iran's capital to evacuate

Oil prices have resumed their upward climb and U.S. futures are lower after Israel's military issued an evacuation warning to 330,000 people in Iran's capital Tehran

The Independent UK

ICE on Ice

Plus: Suspect in Minnesota shootings arrested, Iran and Israel still fighting, Ross Ulbricht speaks, and more...

Reason

US Steel, Nippon Partnership Proceeds With Security Deal, 'Golden Share'

The partnership between US Steel and Nippon Steel has reached a new phase, with an agreement on US national security guarantees, in addition to the so-called "golden share" advantage obtained by President Donald Trump's administration.

International Business Times

Trump clears path for Nippon Steel investment in US Steel, so long as it fits the government's terms

President Donald Trump has signed an executive order paving the way for a Nippon Steel investment in U.S. Steel, so long as the Japanese company complies with a “national security agreement” submitted by the federal government

The Independent UK

Stocks Fall and Oil Rallies as Israel Attacks Iran

The S&P 500 Index ($SPX ) (SPY ) is down -0.96%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -1.53%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.05%. June E-mini S&P futures (ESM25 ) are down -0.79%, and June E-mini Nasdaq futures (NQM25...

Barchart

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The Guardian - US

‘Another snake-oil salesman’s pitch’: US workers wary of Trump’s steel deal

The president believes his Nippon Steel agreement will revive America’s steel industry – but workers are skeptical

The Guardian - US

Trump’s 50% tariffs on foreign steel and aluminum come into effect

Trading partners around the world express anger including Mexico which buys more steel out of the US than it sends the other way

Investors Business Daily

Nucor Leads S&P 500 On Trump's 50% Steel, Aluminum Tariffs

Nucor and Steel Dynamics are pacing the S&P 500, while Cleveland-Cliffs rockets.

Euronews

EU 'strongly regrets' Trump's announcement to double steel and aluminium tariffs to 50%

During a rally at a steel plant the US president announced that he will double tariffs on steel imports. Afterwards, he announced the same for aluminium. The measure, which would hit Europe hard, is supposed to come into force on 4 June.

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The Independent UK

Trump doubles foreign steel tariffs to 50%

IN FULL

The Guardian - US

Trump news at a glance: Surprise doubling of steel tariffs risks global market turmoil – again

The US president told steelworkers he was planning to double the tariffs to 50%. Key US politics stories from Friday 30 May at a glance

The Independent UK

Trump hails Japan’s US Steel deal in Pittsburgh rally as he doubles steel tariffs to 50%

President vows ‘nobody is going to get around’ new 50 percent tariffs on foreign steel, but the details of Nippon’s U.S. Steel deal remain murky

Al Jazeera

Trump says US will raise steel tariffs to 50 percent at Pennsylvania rally

In his campaign-style speech, Trump also hailed a ‘blockbuster agreement’ between Japan’s Nippon Steel and US Steel.

The Guardian - US

Trump announces 50% steel tariffs and hails ‘blockbuster’ deal with Japan

President tells Pennsylvania rally tariffs will aid workers but questions raised over nature of Nippon Steel investment

The Guardian - US

Trump says he is doubling tariffs on imported steel to 50% – as it happened

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Roll Call

After first agreeing with Biden, Trump announces US Steel-Nippon deal - Roll Call

President Trump announced a U.S. Steel-Nippon merger that would give the American government a controlling role in the new company.

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