In a new blog post, Scott Lincicome writes that the “golden share” granted to the U.S. government in the Nippon–U.S. Steel deal means “Trump just nationalized U.S. Steel.”

He warns the move gives Washington “formal control over decisions” and sets a precedent that “could weaken the economy and the rearguard defense of free market capitalism.”

To speak with Scott Lincicome on this subject, please reach out to esalamon@​cato.​org