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

Aaron Bartnick, a former Cfius official during the Biden administration, said that further deals resembling the one for US Steel would mark a “meaningful shift” in America’s approach to capital markets, after decades of criticising other nations for taking golden shares in national champions.

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.