The U.S. government's ownership of a golden share in U.S. Steel will not block Nippon Steel from taking any management action that it deems appropriate, the Japanese steelmaker's CEO said on Thursday.

This agreement includes a golden share for the US government, allowing it to veto significant business decisions and appoint a board member.

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.