The president said he is doubling duties on steel imports while talking up U.S. Steel's deal with Japan's Nippon on Friday.
Shares of U.S. Steel just saw its third downgrade in the past week, but other companies may be in a weaker position.
Strictly speaking, any type of special or dual-class share structure that offers more voting power to a bloc is a version of a golden share. What the White House has in mind, however, seems to be more targeted for the deal-making attempts between U.S. Steel and Nippon Steel.
The Japanese steelmaker said the investment in electric arc furnaces will increase production capacity while significantly reducing emissions.
'Fast Money' traders talk the latest on the U.S. Steel-Nippon deal.
Nippon Steel's $15 billion bid to acquire U.S. Steel, launched in 2023, may finally be dead after President Donald Trump said he'd rather see the company remain under U.S.-based ownership.
United States Steel X+0.05%, the materials producer whose takeover by Japanese rival Nippon Steel 5401-2.11% was blocked by former President Joe Biden, was surging early Friday after a report suggested the $14 billion deal could still be saved.
Nippon Steel's negotiations with the U.S. government regarding its planned acquisition of U.S. Steel are still ongoing, President Tadashi Imai said on Monday.
Japanese suitors face a heightened chance of U.S. targets baking in hefty termination fees to protect against a deal collapsing due to regulatory or political reasons, following Nippon Steel's stranded $14.9 billion bid for U.S. Steel.
Nippon Steel President Tadashi Imai said on Tuesday talks are set to start with the U.S. Department of Commerce as it aims to revive its bid to purchase U.S. Steel.
Japanese Prime Minister Shigeru Ishiba said on Monday the decision by a United States government review board and then-President Joe Biden to block Nippon Steel's acquisition of U.S. Steel was "unjust political interference."
U.S. President Donald Trump on Friday said he wouldn't mind if Japan's Nippon Steel took a minority stake in U.S. Steel.