US Edition
White House’s Hassett says government likely to continue taking stakes in companies similar to Intel deal
The White House's 10% stake in a chipmaker is part of an $8.9 billion strategy using the CHIPS Act and sovereign wealth funds to secure domestic chip production.
- On Friday, the White House announced it was taking a 10% share of Intel, with Kevin Hassett calling the chips spending 'a very, very special circumstance.'
- Hassett linked the move to industrial policy by citing President Trump's early-February order to start a sovereign wealth fund and the CHIPS Act spending.
- Funding comes partly from CHIPS Act grants and separate government allocations, with the $8.9 billion transaction contrasting Norway's $1.8 trillion sovereign-fund assets and China's large funds.
- The administration emphasized precedents with Fannie Mae and Freddie Mac stakes post-financial crisis, stressing it's "absolutely not in the business of picking winners and losers," Hassett said.
- Hassett said the stake fits a broader plan to create a sovereign wealth fund that could include more companies, using grants and separate allocations alongside tariffs to encourage onshoring.
71 Articles
71 Articles
Is American capitalism still capitalism?
Ian explains why “free market capitalism” looks very different today than in decades past. Recent news that the US government is taking a 10% equity stake in Intel is just one example of Washington moving toward a more state-driven economic model.While government subsidies for strategic industries like semiconductors may make sense, Ian warns that other industrial policies, like trying to re-shore large-scale manufacturing, risk being backward l…
U.S. will grab stakes in more companies, admits Trump advisor
So much for the GOP's "free market." Just days after the U.S. government took a 10% stake in Intel, Donald Trump's economic advisor Kevin Hassett revealed that more companies can expect the same. "Yes, that's absolutely right," Hassett said this morning when asked by CNBC if we should expect the Trump administration to continue taking partial ownership of U.S. — Read the rest The post U.S. will grab stakes in more companies, admits Trump advisor…
ABC FOX Montana
Trump advisor says US may take stakes in other firms after Intel
The US government could take stakes in other companies after doing so with chipmaker Intel, President Donald Trump's top economic advisor Kevin Hassett said Monday.
Coverage Details
Bias Distribution
- 44% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
