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.

President Trump on Friday cleared way for Nippon Steel purchase of U.S. Steel, including unusual control for the president.

To save its takeover of U.S. Steel, Japan’s Nippon Steel agreed to an unusual arrangement, granting the White House a “golden share” that gives the government an extraordinary amount of influence over a U.