CEO David Burritt says U.S. Steel "absolutely" still an American company after Nippon Steel acquisition [View all]
Source: CBS News
January 19, 2026 / 7:38 PM EST
U.S. Steel's acquisition last year by Japan's Nippon Steel came with a notable condition to win approval from the Trump administration: a so-called "golden share" that gives President Trump the power to approve certain major corporate decisions, including closing plants or changing locations. But CEO David Burritt tells CBS News, "There's nothing in this golden share that prevents us from doing what we want to do."
"We're aligned with what the president wants us to do. In fact, we wouldn't agree to this thing if we weren't sure it was going to be great for our workers and great for our company," Burritt told "CBS Evening News" anchor Tony Dokoupil at one of the company's plants in Pittsburgh.
Burritt downplayed some of the provisions in the deal, saying there were certain aspects that would need approval, such as changing the company's name or being forced to follow existing trade laws, that don't have any impact on what U.S. Steel's plans were to begin with. But asked if the company would require Mr. Trump's approval for business decisions down the line, such as closing a plant, Burritt insisted, "We don't see us closing the plant. In fact, we just did have an opening here because of demand increasing at Granite City [Illinois]."
Burritt said, despite Mr. Trump's own claims last year, that the president did not veto the company's decision to close down the Granite City operation, which had been dormant since 2023. He said the company recently restarted a blast furnace at the location due to increased customer demand.
Read more: https://www.cbsnews.com/news/us-steel-ceo-david-burritt-interview-golden-share-trump-american-company/
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