US News
Analysis highlights increased federal stakes in private companies under Donald Trump
The Trump administration expanded economic intervention despite anti-communist rhetoric, The Guardian reports.
The short version
- Federal spending exceeded $10 billion to acquire equity stakes in companies deemed vital to national security, including Intel and critical mineral projects.[The Guardian]
- The administration also secured an option for Westinghouse shares and obtained a golden share in exchange for allowing Nippon Steel to purchase US Steel.[The Guardian]
- Data cited by the Peterson Institute showed the United States fell from second to 16th place in a global ranking of limited state economic ownership.[The Guardian]
- An economic expert noted that the complexity of the modern American economy presents obstacles to consolidated executive control.[The Guardian]
Key facts
- By November of his first year in a second term, Trump spent over $10 billion on equity positions in firms tied to national security, including Intel and critical mineral mining.[The Guardian]
- The federal government acquired an option to take an equity stake in nuclear reactor builder Westinghouse.[The Guardian]
- The administration secured a golden share from Nippon Steel as a condition for approving its acquisition of US Steel.[The Guardian]
- The United States slipped from second to 16th place in 2025 on the V-Dem state ownership ranking after placing in the top four least-controlled from 2002 to 2024.[The Guardian]
What remains uncertain
- Whether the structure of the American economy will allow the executive branch to maintain or expand long-term state economic control remains an open question.[The Guardian]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.
- Republicans say they hate communists. So why do they like Donald Trump?The Guardian - World