Trump Pushes U.S. Steel Deal, Pentagon Invests $400M in Mining

- Trump administration takes unprecedented steps in U.S. government involvement in private companies. - Strategies include a "golden share" in U.S. Steel, a Pentagon investment in MP Materials, and proposed TikTok ownership. On July 26, 2025, CNBC reported that President Trump’s administration enacted a significant shift in U.S. economic policy by increasing direct governmental involvement in private companies to bolster key industries and counter Chinese state-backed competition. These measures depart from traditional Republican free-market principles, as the U.S. government now takes active ownership stakes and exercises significant control over corporate decision-making. CNBC reported on July 26 that President Trump personally holds a "golden share" in U.S. Steel, which grants him veto power over major company decisions. The administration set this as a condition for approving the merger between U.S. Steel, the nation’s third-largest steel producer, and Japan’s Nippon Steel. This move aims to maintain strategic control over domestic steel production as global supply chains face increasing strain. In addition, the Pentagon has invested $400 million in MP Materials, a U.S.-based rare-earth mining company, making the Department of Defense the company’s largest shareholder. On July 26, Cryptopolitan noted this is the first time the Pentagon has taken a direct equity stake in a mining operation. As rare earth minerals are critical for manufacturing advanced technology, the investment underscores growing concerns about relying on Chinese-dominated supply chains. Additionally, the administration proposed that the U.S. government take a 50% ownership stake in TikTok through a joint venture. This proposal requires TikTok’s Chinese parent company, ByteDance, to divest its ownership or risk a nationwide ban of the popular app. The administration's strategy stems from national security concerns and its push to foster domestic control over critical digital technologies. These policies are designed to enhance the competitiveness of U.S. strategic industries, particularly against heavily subsidized and state-backed Chinese corporations. According to CNBC on July 26, this approach responds to intensified economic competition, recent supply chain challenges, and China’s dominance in industries like technology and rare-earth materials. Analysts note that while these actions share elements with nationalization efforts, they stop short of full government takeovers, instead using mechanisms like strategic investments and ownership rights.