
CALGARY, Alberta (AP) — President Donald Trump would have unique influence over the operations of U.S. Steel under the terms of the investment being made by Nippon Steel. Administration officials over the past few days provided additional insight into the so-called golden share arrangement that the federal government made as a condition for supporting the partnership. Under the government’s terms, it would be impossible without Trump’s consent to relocate U.S. Steel’s headquarters from Pittsburgh, change the name of the company, “transfer production or jobs outside the United States,” shutter factories, or reincorporate the business overseas, among other powers held by the president. Officials also said it would require presidential approval to reduce or delay $14 billion in planned investments. The companies have not made public the full terms of Nippon Steel’s acquisition of U.S. Steel or the national security agreement with the federal government. On Sunday, the United Steelworkers, the labor union representing U.S. Steel employees, posted a letter raising questions about the deal forged by Trump, who during his run for the presidency had pledged to block Nippon Steel’s acquisition of U.S. Steel. The union said it was “disappointed” that Trump “has reversed course” and raised basic questions about the ownership structure of U.S. Steel.