Earlier this week, President Donald Trump approved Nippon Steel’s purchase of U.S. Steel.

Scott Lincicome, vice president of general economics and Stiefel Trade Policy Center at the Cato Institute, commented on the move, saying, “The Trump administration’s ‘golden share’ control of a wide array of U.S. Steel’s domestic business activities should be seen as a de facto nationalization of the company.”

Lincicome argues that the United States’ own standards indicate that U.S. Steel should now be considered an arm of the federal government, and that the increasingly cozy relationship between Washington and U.S. Steel could harm the economy, U.S. trade policy, and even the company itself.

If you’d like to speak with Lincicome, please reach out to pr@​cato.​org.