President Donald Trump signed an executive order on Friday to allow a major deal between Nippon Steel and U.S. Steel to proceed. The deal requires the Japanese steel giant to follow a national security agreement that grants the U.S. government a golden share giving it veto power over decisions that affect national security. 

Trump said the agreement includes $11 billion in new investments by 2028 and maintains majority American ownership of U.S. Steel. This executive action ends months of delay caused by security concerns during the Biden administration. Trump had opposed the full takeover of U.S. Steel during his campaign but said this new arrangement protects American interests.

“We have a golden share, which I control.” – Trump.

The companies released a joint statement praising Trump’s leadership and calling the partnership historic. They said the investment would support American jobs and manufacturing for years to come. The golden share ensures the U.S. will keep oversight of decisions tied to defense or critical infrastructure. The agreement does not explain exactly how this control will be used but confirms federal agencies will monitor compliance. Nippon Steel never withdrew its $15 billion bid for U.S. Steel and will now own it as a wholly controlled subsidiary under these new terms.

Steel Deal Advances As Trump Prioritizes National Control

The Treasury Department and other agencies under the Committee on Foreign Investment in the United States will supervise the deal’s closing. Trump said he would maintain total control over U.S. Steel decisions and expressed concern about how future presidents may use this power. The White House has not disclosed the full terms of the agreement. The partnership is expected to finalize quickly after meeting the required conditions. Trump emphasized the deal would strengthen American steel production and secure U.S. interests in global markets.