President Donald Trump approved a U.S. chip sale to China in exchange for 15% of profits, authorized the sale of U.S. steel with a government 'golden share', and secured a 10% government stake in Intel. The administration pressured law firms to provide free services and directed companies like Walmart to absorb tariff costs. The Pentagon is reportedly considering equity stakes in defense contractors. These actions represent expanded federal involvement in private business and financial life, resembling state intrusion and marking a departure from traditional small-government Republican policies. Conservative warnings about socialism have historically targeted Democrats, yet recent policy shifts reflect a more interventionist federal role.
So far, in his second term, he has approved a U.S. chip sale to China in exchange for 15% of profits; signed off on the sale of U.S. steel in return for a government golden share; strong-armed law firms into providing free services to his administration; told companies like Walmart to eat the costs of tariffs; secured a 10% government stake in Intel just the other day; and now, today, Commerce Secretary Howard Lutnick said the Pentagon is weighing equity stakes in defense contractors.
That's right. I'm not sure it even would have been predictable last year, replied Graham. We've spent the last 15 to 20 years with prominent Republicans and conservatives warning that Barack Obama was a socialist. Donald Trump said that Kamala Harris was a communist. They've argued against state intrusion into things and what we see now is the most intrusive federal government since Franklin Roosevelt, probably.
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