Washington Examiner

Trump defends Intel stake after criticizing socialist Democrats

the article reports on former President Donald Trump defending his decision to acquire a 10% stake in Intel following federal grants provided to the company through the CHIPS and Science Act, enacted during President Joe Biden’s management. Trump described the investment as a business move aimed at strengthening Intel and the U.S.economy, emphasizing that having the U.S. as a partner would benefit the company. Despite criticism from conservatives who argue that government ownership in a private company resembles socialism, Trump dismissed these concerns and expressed enthusiasm about making similar deals to create jobs and boost American wealth. Additionally, White House National Economic Council Director Kevin Hassett indicated there might potentially be more such government-industry partnerships in the future. The article also highlights conservative critiques warning about the precedent set by this type of government involvement in private enterprise.


Trump defends Intel stake after criticizing socialist Democrats

President Donald Trump defended his decision Monday to take a 10% stake in Intel after criticizing the likes of former Vice President Kamala Harris as a socialist.

Trump argued that his decision to acquire a 10% stake in Intel in exchange for federal grants that the computer company received through former President Joe Biden‘s CHIPS and Science Act, which was passed in 2022, among other programs, was “business.”

“I want to try and get as much as I can,” Trump told reporters at the White House during an executive order signing ceremony. “I hope I’m going to have many more cases like it.”

Trump underscored that Intel CEO Lip-Bu Tan, whom Trump wanted terminated earlier this month, came to the White House “under a little bit of a cloud.”

“I said, ‘I’d like you to give 10% of Intel to the United States of America, not to me, to the United States of America. And I said, if you have them as a partner, you have the United States as a partner. I think that would be a very good thing for Intel,’” Trump said. “And he thought about it and he said, ‘I like that idea very much. We have a deal.’”

Trump added that the stock market responded positively and that he would do it again if given the opportunity.

“You do have stupid people say, ‘Oh, that’s a shame.’ It’s not a shame. It’s called business,” he said. “A company like Intel, as you know, it’s had difficulty, I want them to do well. I want them to do what they do, but I want them to do well in particular.”

Earlier Monday, White House National Economic Council Director Kevin Hassett told CNBC he was “sure that at some point there’ll be more transactions, if not in this industry then other industries.”

“Well, I think this is a very, very special circumstance because of the massive amount of CHIPS Act spending that was coming in,” Hassett said. “But the president has made it clear all the way back to the campaign, he thinks that in the end, it would be great if the U.S. could start to build up a sovereign wealth fund.”

To that end, Trump took to social media Monday morning to “make deals like that for our Country all day long.”

“I love seeing their stock price go up, making the USA RICHER, AND RICHER,” he wrote. “More jobs for America!!! Who would not want to make deals like that?”

The White House announced last week that the federal government would have a 10% stake in Intel through a combination of common stock and grants, including through the CHIPS and Science Act.

The decision has been criticized by conservatives who have told the Washington Examiner they are concerned about the precedent that it sets.

TRUMP LEVERAGES WHITE HOUSE POWER WITH RED-STATE REDISTRICTING AND MAIL BALLOT PUSH

“If socialism is government owning the means of production, wouldn’t the government owning part of Intel be a step toward socialism?” Sen. Rand Paul (R-KY) wrote on social media.

“This is socialism with an R next to its name,” conservative commentator Erick Erickson said on his radio show, referring to “Republican.”

— Erick Erickson (@EWErickson) August 19, 2025



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