I see some similarity to a steering parts, but:
If this were steering related it would have to be a drag link (center link), as tie rods don't have another rod attached. Then the smaller piece would have to be a pitman arm or idler arm. Then it would need to pivot where these two pieces join together in order to keep the front end geometry correct. At least that's the only way I know of (other than rack n pinion) that tie rods are employed (which again wouldn't have a small arm attached to the tie rod). Also, being hollow leads me to think that this isn't what it was.
It seems to me that this must have been attached to wood that has rotted away (or broke away) else why would the bolt still be in place?