Trump Golden Steel

The Trump administration intervened to prevent us from steel from lethargy operations in its granite factory, Illinois, and the practice of new powers linked to the last seizure of the company, The Wall Street Journal reported.

The steel maker informed nearly 800 workers that the factory would close in November, noting that they will continue to be paid. But after Trade Minister Howard Lootnik warned CEO Dave Burit that the administration would not allow this, the United States of steel reflected the path on Friday, saying that the facility will remain steel grim panels, citing a person familiar with the matter.

The intervention is the first use of Trump for the so -called “golden participation” rights, a condition A $ 14.1 billion acquisition by Japanese Nippon, which was cleansed in June. The National National Security Agreement gave the White House to close factories, production transformations abroad and other strategic decisions.

“The United States will continue to provide panels to Granite City,” CNBC spokesman told CNBC. “Our goal was to maintain flexibility, and we are pleased to find a solution to continue consumption in Granite City.”

The step sheds light on the growing hands of Trump in the private sector. Last month, the president said that the government would take place Get a 10 % stake in Intel, After the chip maker received billions of support under the 2022 chips Law.

In June, when the deal was announced, Trump told us steel workers that Nippon would be a “great partner”. The Trump administration is currently participating in commercial talks with Japan, where investors are eagerly awaiting that the United States will reach deals with the main partners who avoid sharp tariffs.

Trump told steel workers that Nippon had agreed to keep the flexibility ovens in the United States working at full capacity for at least 10 years. The president said that the deal would not lead to the demobilization of the workers and promised that there would be no “use of external sources at all.” At that time, he said that the workers would receive a reward of $ 5,000.

Read the full WSJ story here.