Nippon Steel completed its multi-billion-dollar acquisition of US Steel on Wednesday, granting rare veto-like power over strategic decisions to Washington with a "golden share".And Washington's non-economic golden share allows it to appoint one independent director as well as granting consent rights for proposed capital budget cuts among other powers.

The deal is the Trump administration’s attempt to stake out a new path for balancing national security and the influx of foreign capital.

Japanese steel giant Nippon Steel has finalized its $14.9-billion acquisition of US Steel, ending an 18-month political and regulatory battle. The deal is a win for President Donald Trump’s administration, which negotiated a “golden share” giving the U.S. government sweeping veto rights over company decisions.