In another challenge to the line between government and private interests, the Trump administration has cleared Nippon Steel’s $14 billion acquisition of US Steel, only after inserting a novel “class G” preferred share that gives any sitting president permanent veto power over major corporate decisions.

President Trump on Friday cleared the way for Japan-based Nippon Steel to acquire U.S. Steel, though key details about the structure of the deal — including a possible "golden share" held by the federal government — remain unclear.