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U.S. President Donald Trump speaks in the Oval Office at the White House in Washington, D.C., U.S., Sept. 19, 2025.
Ken Cedeno | Reuters
The Trump administration stepped in to stop U.S. Steel from idling operations at its Granite City, Ill., plant, exercising new powers tied to the company’s recent takeover, the Wall Street Journal reported.
The steelmaker had informed nearly 800 workers that the plant would close in November, noting however that they would still be paid. But after Commerce Secretary Howard Lutnick warned CEO Dave Burritt the administration wouldn’t allow it, U.S. Steel reversed course on Friday, saying the facility would keep rolling slabs into sheet steel, the Journal reported, citing a person familiar with the matter.
The intervention marked Trump’s first use of so-called “golden share” rights, a condition of the $14.1 billion takeover by Japan’s Nippon that cleared in June. The national-security agreement gave the White House veto power over plant closures, offshore production shifts and other strategic decisions.
U.S. Steel didn’t immediately respond to CNBC for comment.
The move highlights Trump’s growing hand in the private sector. Last month, the president said the government would take a 10% stake in Intel, after the chipmaker received billions in subsidies under the 2022 Chips Act.
In June, when the deal was announced, Trump told U.S. Steel workers that Nippon would be a “great partner.” The Trump administration is currently engaged in trade talks with Japan as investors eagerly await signs that the U.S. will strike deals with key partners that avoid steep tariffs.
Trump told the steelworkers that Nippon had agreed to keep U.S. Steel’s blast furnaces operating at full capacity for a minimum of 10 years. The president said the deal would not result in layoffs and promised there would be “no outsourcing whatsoever.” At the time, he said workers would receive a $5,000 bonus.
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