Big Government Alert: U.S. Steel Power Grab Should Terrify Every American

The Share That Changes Everything

I have been tracking the acquisition of U.S. Steel by Nippon Steel, and one detail should make every freedom-loving American’s very, very worried. Buried in this $14.9 billion deal is what they’re calling a “golden share”—a single piece of preferred stock that hands the federal government veto power over a private company’s most basic decisions.

Let me be crystal clear: under this deal the federal government can now block U.S. Steel’s board appointments, dictate where they build factories, and override countless other business decisions. This isn’t capitalism—this is the kind of state control you see in China, where the Communist Party pulls the strings of every major corporation, or in Russia, where Putin’s cronies decide which businesses live or die.

How the Feds Seized Control

As a result of backroom Commerce Department meetings this month . Nippon Steel was forced to agree with this deal. And worse even though they tried to negotiate a four-year sunset on this government meddling, Commerce Secretary Howard Lutnick demanded permanent control. Forever.

Think about the arrogance of that word—forever. Every future president will have their boot on U.S. Steel’s neck, monitoring nearly a dozen company decisions, ready to crush any move that doesn’t fit their political agenda.

Modern civilization is a product of the laissez-faire philosophy. It cannot be preserved under the ideology of government omnipotence.”-Ludwig von Mises

This golden share isn’t just omnipotent—it’s un-American.

National Security or Political Theater?

Don’t buy the national security excuse for one second—steel matters for defense. However, the Committee on Foreign Investment (how Orwellian does that sound?) had already vetted this deal and imposed safeguards just days ago. Those protections were more than sufficient.

This golden share concerns politicians flexing their muscles over private enterprise to show superiority. It’s about Washington deciding they know better than investors, managers, and market forces how to run a steel company.

When government officials dictate business decisions to private companies, I see the same authoritarian playbook that’s destroyed prosperity from Beijing to Moscow. State-controlled enterprises don’t innovate—they stagnate. They don’t compete—they comply.

This is Free Enterprise on the Line

Make no mistake—this isn’t just about U.S. Steel. We’re watching the birth of a new era where government bureaucrats can claim a “strategic interest” in any company they choose to control.

Tech companies handling sensitive data? The feds will want their golden share. Energy companies affecting national security? Same story. They’ll find a way to justify controlling any business that becomes “strategically important.”

Nippon Steel’s $14 billion investment could revolutionize American steel production and create thousands of jobs. But when politicians can override business decisions from Washington, we’re not talking about free markets—we’re talking about a command economy wrapped in an American flag.

Savvy investors are taking notes. They’re asking: “If we put our money into American businesses, will we get to run them?” The answer used to reliably be yes…

So, Does It Matter?

As someone who has spent my adult life fighting for fiscal responsibility and limited government, I believe this golden share represents everything wrong with modern Washington. The government’s job is to enforce the game's rules, not to become a player with special privileges.

I’ve seen this movie before in countries where the state calls the shots in boardrooms. It doesn’t end with prosperity and innovation—it ends with economic stagnation and political corruption.

We Must Preserve Liberty

This golden share isn’t just bad policy—it’s a declaration of war against free enterprise. If we let Washington get away with this power grab, we’re not just surrendering U.S. Steel’s independence—we’re surrendering the principle that built American prosperity.

Because if we don’t fight this authoritarian overreach, we’ll wake up one day to discover that the government doesn’t just regulate business—it owns it.

And then we aren't America anymore.