Art of the Deal: How Trump is capturing the private sector

Photo caption: President Donald Trump participates in a U.S.-UAE Business Council Breakfast at Qasr Al Watan, Friday May 16, 2025, in Abu Dhabi, United Arab Emirates. Photo credit: Official White House photo by Daniel Torok via Flickr. US government work. Article by Sam Sutton. Politico – August 22, 2025.

The U.S. government is going into business whether businesses like it or not. President Donald Trump wants to convert $11 billion in federal contracts and subsidies awarded to the struggling chipmaker Intel into an equity stake. The Pentagon is now the largest shareholder in a rare earths mining business. Trump conditioned Nippon Steel’s acquisition of U.S. Steel on his receipt of a “golden share” that grants him significant control over its operations. He has announced plans to slash prices on U.S. pharmaceuticals and hatched deals that entitle Treasury to a slice of the revenue that Nvidia and AMD generate from Chinese chip sales. […]

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