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Trump Invokes ‘Golden Share’ to Block U.S. Steel 

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“The Trump administration flexed its new authority over U.S. Steel, blocking the company’s plan to shut down production at an Illinois plant this fall,” the Wall Street Journal reports.

“Two weeks ago, U.S. Steel notified workers in Granite City, Ill., that plant operations would cease in November. The company, owned by Tokyo-based Nippon Steel, said it would continue paying the mill’s nearly 800 employees, even without them doing regular production work.”

“Commerce Secretary Howard Lutnick got wind of the plan and called U.S. Steel Chief Executive Dave Burritt… Lutnick told Burritt the administration wouldn’t allow operations to cease, and the president would invoke his so-called golden share authority over plant operations.”

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goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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