Donald Trump always shot against the left plan. But now the President himself intervenes radically into the economy: with the billions of Joe Bidens Chip program, he buys Intel shares and makes the United States a major shareholder.
“Marxists”, “Communist”, “Socialists” and “Left -Radical Insane” – these cultural combat vocabulary has been part of Donald Trump’s favorite vocabulary for years to insult his political enemies from the Democrats. He not only uses them to scourge their migration policy, but also when it comes to the economic policy of his opponents. He always painted a rule of the Democrats as a specter of the state.
Trump regularly accused his predecessor Joe Biden that his growth measures were ultimately left -wing devils. In his first speech before the congress in the spring, he described Bidens so -called chips act as “Herrible, Herrible Thing”, that is, as a very terrible thing. The investment program is so horrible because the United States would simply throw hundreds of billions of dollars into the window. Trump asked the MPs: “Complete the chips act.” The money should be better used to reduce debt.
But of all people, Donald Trump now turns out to be an American president who intervenes much more into economic processes than Joe Biden. This not only shows his influence on the central bank’s interest policy, but also his latest step. The United States took over around ten percent from the tech giant Intel. What he would have scourged at biden, he interprets under the label “America First” as a deal in national interest. Criticism of this quickly becomes a treason.
It was last Friday when the White House suddenly announced that the US government acquired around $ 433 million by the struck chip manufacturer Intel for a total of $ 8.9 billion. To a discount compared to the current market price. According to Trump, the state has practically “paid nothing” and now holds shares worth $ 11 billion. On his social platform Truth Social, he cheered: “A great deal for America and also a great deal for Intel.”
With this measure, the United States becomes the largest single shareholder of the former Silicon Valley flagship company. The deal that Trump sells to its supporters as a classic “America First” maneuver actually seems to follow a more complex strategy that deals with industrial policy ambitions and geopolitical considerations, but also plays a role in Trump’s business. The President does not handle the policy of his predecessor, but further develops it.
The business was financed by means of funds that “chips act” that originally agreed under the bid government but had not yet been paid out. He now uses the program, which Trump described as a “terrible thing”. 5.7 billion dollars come from the funding, another 3.2 billion dollars from other programs for developing safe chips.
But how did this deal come about? Trump had publicly put pressure on Intel CEO LIP-BU TAN in early August. He called for his resignation for alleged China connections. The defamed manager quickly hurried to Washington. At a meeting in the White House, Trump then proposed to convert state funding from the “Chips Act” into a 10 percent participation to Intel. Then of course the CEO could stay. And that’s how it happened.
