Aaron Bartnick, a former Cfius official during the Biden administration, said that further deals resembling the one for US Steel would mark a “meaningful shift” in America’s approach to capital markets, after decades of criticising other nations for taking golden shares in national champions.

To save its takeover of U.S. Steel, Japan’s Nippon Steel agreed to an unusual arrangement, granting the White House a “golden share” that gives the government an extraordinary amount of influence over a U.

President Trump's executive order on Friday clearing the way for Japan-based Nippon Steel to potentially buy U.S. Steel comes with an unusual corporate twist called a "golden share."As part of the agreement,