The Golden Share is Fool’s Gold

Trump didn’t save U.S. Steel, he seized it. Worse than capitalism, it’s command control in a MAGA wrapper.

Jun 17, 2025

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When Donald Trump struck a deal to approve the $14.9 billion sale of U.S. Steel to Japan’s Nippon Steel, most headlines focused on the foreign acquisition itself. But buried inside the transaction was something far more consequential, not just for steel, but for the future of American capitalism: the “golden share.”

This obscure mechanism grants the Pres…

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