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The White House would like some control of U.S. Steel if it approves its sale to Nippon Steel. Such deals could alter foreign investment in the United States.

Could the United States begin demanding more “golden shares” to exert further control over strategic companies?Haiyun Jiang for The New York TimesThe White House’s new board seats

The Trump administration’s blessing of Nippon Steel’s acquisition of U.S. Steel is a potential watershed moment for the role of government in American industry.

While details are still being finalized, the reported conditions — including an American C.E.O., a U.S.-majority board and a “golden share” granting the U.S. government veto power over certain corporate functions and board appointments — are extraordinary for such a transaction. It goes far beyond the scope of the Committee on Foreign Investment in the United States (known as CFIUS), which

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