Trump’s ‘Chinese Model’ Is Making the US a Corporate Stakeholder
Get caught up.
Donald Trump, left, with Nvidia Chief Executive Officer Jensen Huang at the White House in April
Photographer: Ken Cedeno/UPIDonald Trump may be the leader of the Republican Party, but when it comes to the free market—the very economic foundation of the modern GOP—he appears to be headed in the opposite direction of long-held doctrine.
Trump is now directly intervening in corporate matters, ostensibly to achieve his economic and foreign policy goals. This includes demanding a government cut of AI chip sales to China from Nvidia and Advanced Micro Devices. He’s also said to be in talks to grab a 10% stake in the beleaguered chipmaker Intel. And last month, the Pentagon snapped up a $400 million preferred equity stake in a rare earth mining company.