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Dealmakers are concerned that President Donald Trump has set a dangerous precedent for politically sensitive tie-ups by taking a “golden share” in US Steel as a condition for approving its takeover by Japan’s Nippon Steel.

Womble Bond Dickinson Partner José Luis Vittor said international investors needed further details from the U.S. government on how the golden share would be implemented and clarification about the possibility of similar structures in future deals. “Regulations on this golden share ought to be only applied to this particular transaction and thoroughly reviewed to avoid the risk of misinterpretation by the foreign investment community that this could extend to other transactions,” he said.

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