Features
Washington considers stake in U.S. Steel as part of Nippon deal: Report
Written by Ethan Bernard
May 27, 2025
The US government could acquire a stake in U.S. Steel as part of Nippon Steel’s $14-billion deal for the Pittsburgh-based steelmaker, according to various media reports.
The Trump administration sees Washington, D.C., acquiring a “golden share” as part of the deal, according to an article in Kyodo News on Tuesday.
This would give the US government “special rights to block certain actions by Nippon Steel such as slashing production capacity,” the article said.
Sen. Dave McCormick (R-Pa.) told CNBC on Tuesday the government would also have a say over the selection of some of the company’s board members, according to an article in The Hill.
Recall that President Trump gave the OK for a “partnership” between U.S. Steel and Nippon late Friday afternoon. However, the details of the deal have yet to be revealed.
“It’s an investment and it’s a partial ownership, but it will be controlled by the USA,” Kyodo News reported President Trump saying on Sunday.
Nippon declined to comment for this article and U.S. Steel did not return a request for comment by time of publication.
Ethan Bernard
Read more from Ethan BernardLatest in Features
Price: Reciprocal tariff changes and potential new tariffs for Brazil, Canada, others
Trade issues do not seem poised to leave the headlines anytime soon. And as recent developments show, the administration’s tariff policy remains ever-changing.
SMU Scrap Survey: Sentiment Indices rise
Both current and future scrap sentiment jumped this month, though survey participants reported responses before key trade news was announced.
HVAC equipment shipments bounce back in May
Heating and cooling equipment shipments grew from April to May, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
US drilling activity falls further, climbs in Canada
US oil and gas drilling activity continued to decline for the 11th consecutive week, while Canadian counts climbed for the sixth week in a row, according to the latest data from Baker Hughes.
SMU Survey: Sentiment splits, buyers have better view of future than the present
SMU’s Steel Buyers’ Sentiment Indices moved in opposite directions this week. After rebounding from a near five-year low in late June, Current Sentiment slipped again. At the same time, Future Sentiment climbed to a four-month high. Both indices continue to show optimism among buyers about their company’s chances for success, but suggest there is less confidence in that optimism than earlier in the year.