Trump gets the “Golden Class” in the “US Steel” deal

The US Securities and Exchange Committee revealed that President Donald Trump will control the so -called “golden session”, which is part of an agreement related to national security, which allowed Nippon Steel, which is based in Japan, to buy the famous American steel company “USS Steel”.

This main condition gives the authority to appoint a member of the Board of Directors and to have an opinion on the decisions of the company that affects local steel production and competition with producers abroad.

Under this condition, Trump or his delegate has the authority to make decisions as long as he remains in office. These powers return to the Ministry of Treasury and the Ministry of Commerce when anyone else takes over the presidency, according to the documents.

Nippon Steel had announced earlier this month that the acquisition of US Steel was completed for $ 14.9 billion.

The Japanese company will pump about $ 11 billion as new investments in the ancient American company by 2028.

Meanwhile, US Steel will keep her name and her presidency in Pittsburgh, Pennsylvania, will remain.