“President Trump’s willingness to insert the power and the purse of the federal government into corporate America has become one of the defining stories of his second term,” the Wall Street Journal reports.
“Manufacturing. Big Tech. Big Media. Energy Firms. Even Airlines. He has flexed his presidential muscle to get companies to follow his wishes. And he’s done it with swift effectiveness. Finding investors for TikTok, extracting shares of Intel, approving the U.S. Steel acquisition in exchange for the “golden share”— that was all Trump.”
“Corporate America had traditionally dealt with a more hands-off approach from GOP administrations, and Trump’s tact is something different. But Trump is tapping in to a populist sentiment that cuts across political parties. Following the deeply unpopular, taxpayer-funded bailouts that began in 2008, many Americans were outraged that the government didn’t ask for anything in return for U.S. assistance.”
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