Letter From the President to United States Steel Corporation Senior Vice President, General Counsel and Secretary Scot Duncan
1. Purpose
This letter from President Trump emphasizes the significance of U.S. Steel for American national security and creates oversight mechanisms to ensure its operational compliance with a National Security Agreement.
2. Key Actions And Directives
- Designation of Compliance Monitor: Under Secretary of Commerce for International Trade, William Kimmitt, will monitor U.S. Steel's compliance with the National Security Agreement.
- Appointment of Class G Director: David Shapiro, Chief Counsel of the Investment Accelerator at the Department of Commerce, will serve as the Class G Director of U.S. Steel.
- Oversight of Operations: President Trump will utilize his Class G Preferred Stock (Golden Share) to oversee U.S. Steel's activities.
3. Important Points
- U.S. Steel's National Security Role: The letter outlines that the operation of U.S. Steel is vital to American national security and economic infrastructure.
- Duration of Designations: The appointed roles of Under Secretary Kimmitt and Mr. Shapiro will continue as long as they are government employees or until directed otherwise by the President.
- President's Authority and Oversight: The Golden Share allows President Trump to directly influence and ensure the continuation of U.S.-based production facilities with national security implications.
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