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US President Donald Trump said the US government will retain a “golden share” in United States Steel Corp. after its purchase by Japan’s Nippon Steel Corp.

“We have a golden stock, we have a golden share, which I control, or a president controls,” Trump said Thursday at a White House event. “That gives you total control.”

Shares of US Steel surged as high as $54.13 after Trump’s comments, edging closer to Nippon Steel’s $55-a-share cash offer. The shares are up 0.8% to $53.92 as of 12:15 pm in New York.

Trump claimed that the share amounted to “51% ownership by Americans,” though it was not immediately clear what that meant.