The White House says it blocked US Steel's decision to stop processing steel at Illinois plant

Earlier DU thread: US Steel changes course, will keep processing raw steel at Granite City plant in IL

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Source: Associated Press

The White House says it blocked US Steel's decision to stop processing steel at Illinois plant

MARC LEVY
Mon, September 22, 2025 at 1:36 PM EDT 2 min read

HARRISBURG, Pa. (AP) — The White House said Monday that it intervened under the terms of a three-month-old national security agreement with Japan-based Nippon Steel to block a decision to stop processing raw steel at U.S. Steel's Granite City Works plant in Illinois.

In a statement, the White House said Commerce Secretary Howard Lutnick delivered the message that President Donald Trump would exercise his so-called “golden share” power that was a key element in the Trump administration's decision to allow Nippon Steel to buy out U.S. Steel.

That provision helped resolve the Trump administration's national security concerns in Nippon Steel's proposed buyout of the iconic American steelmaker and gives the federal government a say in certain company decisions involving domestic steel production, including over closing or idling U.S. Steel’s plants.

“The administration did intervene to block U.S. Steel’s decision to idle the Granite City Works plant, with the threat of the president invoking his golden share authority,” the White House said.

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Read more: https://finance.yahoo.com/news/white-house-says-blocked-us-173637108.html