On Monday, U.S. President Donald Trump stated his desire to increase his investments in thriving American businesses. It’s another matter entirely whether Corporate America is on board. On Friday, the White House revealed a nearly 10% ownership holding in Intel, a company that turns federal subsidies into stock.
Speaking to reporters at the White House on Monday, Trump reiterated his support for similar agreements in other industries, saying, “I hope I’m going to have many more cases like it.” The administration’s strategy challenges a long-held belief about the American economy that the government should only invest in corporations in extreme cases, like as the global financial crisis of 2008 and the ensuing rescue of American automakers.
Despite its difficulties, Intel still has a $9 billion cash reserve and a $105 billion market value. According to detractors, the Intel action jeopardizes the agility of the American business community, as does the White House’s pressure on the Federal Reserve to cut interest rates, its use of emergency powers to impose tariffs on imported goods, and its involvement in a number of mergers.
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