Source: Cato Institute
by Ryan Bourne
“In the last two months, Trump has extracted a golden share in U.S. Steel to approve its Nippon merger, strong-armed Apple into $600 billion of investment in U.S. production, called publicly for the Intel CEO’s ouster, and shaken down Nvidia and AMD for 15 percent of revenue from certain chips sales to China (in effect, an export tax). Now the administration is pondering a 10 percent stake in Intel, something that reports suggest could expand to all major semiconductor firms receiving federal funds. There’s a word for the government owning the means of production, of course: socialism.” (08/22/25)
https://www.cato.org/commentary/industrial-policy-was-gateway-drug-cronyism