Trump Says US Government Will Get ‘Golden Share’ in US Steel

President Donald Trump said the US government will retain a “golden share” in United States Steel Corp. after its purchase by Japan’s Nippon Steel Corp.

“We have a golden stock, we have a golden share, which I control, or a president controls,” Trump said Thursday at a White House event. “That gives you total control.”

WATCH: President Donald Trump says the US government will retain a “golden share” in US Steel after its purchase by Nippon Steel.

Source: Bloomberg

Shares of US Steel surged as high as $54.13 after Trump’s comments, edging closer to Nippon Steel’s $55-a-share cash offer. The shares are up 0.8% to $53.92 as of 12:15 pm in New York.

Trump claimed that the share amounted to “51% ownership ...