Trump Administration Increases State Control Over U.S. Economy in 2025, Acquiring Equity Stakes in Key Industries
In 2025, under the second Trump administration, the United States significantly increased its state control over the economy, a development described as a form of socialism. This shift occurred under unified Republican governance, not due to the influence of Democratic Socialists. Historically, the U.S. has ranked among countries with the least state control, consistently placing in the top four out of 179 countries since 2010. However, in 2025, the U.S. dropped to 16th place, with 15 countries now having less state control. This substantial change is typically seen in nations with volatile political economies or war-related crises, not large, advanced economies. The increase in state ownership primarily involves the acquisition of equity stakes rather than full nationalizations. The Trump administration has acquired equity or equity-like stakes in over 30 firms across the semiconductor, critical mineral, and quantum computing sectors. A notable example is a 10 percent stake in Intel, negotiated in 2025, w...
