White House Flexes Unprecedented Authority to Halt US Steel Plant Closure
Published on 09/21/2025 at 21:18 | Redaktion boerse-global.deIn a landmark demonstration of interventionist industrial policy, the Trump administration has for the first time exercised its “golden share” power over United States Steel Corp., compelling the company to reverse its decision to shutter its Granite City steelworks in Illinois. This direct government intervention marks a significant shift in the relationship between Washington and corporate America.
The decisive action came on Friday when Commerce Secretary Howard Lutnick delivered an unequivocal message to US Steel CEO Dave Burritt: the White House would not tolerate the plant’s planned November closure. The communication reportedly included a personal threat from President Trump to utilize the veto power granted to the administration.
The company’s response was immediate. Within hours of the warning, US Steel confirmed a complete reversal... Read more...
Disclaimer regarding our articles: No investment advice, no buy or sell recommendation. Information on prices, companies, and markets is provided without guarantee; changes are possible at any time. Stock market transactions can lead to substantial losses. Our articles are created and reviewed in whole or in part automatically with the support of AI.
