Story perspectives

Trump Administration Stakes Spark Cartel Fears

7/16/2026

Summary

Story summary

President Donald Trump’s administration has bought equity stakes in more than a dozen private firms, including Intel and U.S. Steel.
Analysts say the purchases create a government-controlled cartel that raises prices and concentrates economic power.
Critics argue the deals benefit companies linked to the Trump family and punish political rivals.
A New York Times focus group of Trump-supporting voters aged 20-25 said the economy and foreign policy under President Donald Trump look bleak.

History

Historical Context

In October 2008 Congress passed the Emergency Economic Stabilization Act, creating the $700 billion Troubled Asset Relief Program (TARP) that ultimately returned $441.7 billion and earned a $15.3 billion surplus after buying equity in banks such as Citigroup and automakers. The Trump administration’s 2024 equity stakes in Intel and U.S. Steel echo that precedent, reviving concerns that government ownership can distort markets and provoke political backlash.

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Story summary

President Donald Trump’s administration has bought equity stakes in more than a dozen private firms, including Intel and U.S. Steel.
Analysts say the purchases create a government-controlled cartel that raises prices and concentrates economic power.
Critics argue the deals benefit companies linked to the Trump family and punish political rivals.
A New York Times focus group of Trump-supporting voters aged 20-25 said the economy and foreign policy under President Donald Trump look bleak.

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