US Government Acquires 10% Intel Stake Under Trump Amid Conservative Backlash

President Donald Trump's administration is increasingly engaging in state capitalism, blending government intervention with private enterprise in ways that break from traditional American conservative principles. Notably, the U.S. government acquired a 10% equity stake in Intel by converting nearly $9 billion in subsidies under the 2022 CHIPS Act into stock, a move Trump praised and indicated he would replicate with other companies. Critics warn this approach risks politicizing investment decisions, fostering corruption, and undermining free-market dynamics, with some comparing it to China's state capitalism and warning of authoritarian economic control. Trump's interventionist actions also include exerting influence over corporate decisions, exemplified by his public push for Cracker Barrel to revert to its old logo, highlighting the administration's deeper involvement in private business affairs. While previous presidents used similar tactics temporarily during crises, Trump's consistent and national-security-justified economic interventions represent a significant shift in U.S. economic policy. These developments have sparked debate about the direction of American conservatism and capitalism under Trump's leadership, raising concerns about the long-term impact on market efficiency and political power dynamics.