In a recent commentary, Jonathan V. Last drew intriguing parallels between Donald Trump and communist ideologies. He suggests that Trump’s policies reflect a shift towards a more national socialist economic structure.
Trump’s Economic Initiatives
Last highlights various actions taken by the Trump administration that support this assertion. A significant move includes the administration’s partnership with Westinghouse for constructing nuclear power plants. The deal involves an investment of $80 billion from the government.
Key Aspects of the Westinghouse Agreement
- The government mandates Westinghouse to allocate 20% of any cash distributions to it.
- There is potential for a government-initiated IPO of Westinghouse by January 2029.
- If executed, the government could become the largest shareholder with a 20% stake.
Additional National Socialist Policies
Moreover, Last critiques other national socialist policies under Trump’s governance. These include:
- Delaying the enforcement of the 2024 law mandating the sale of TikTok.
- Creating a Golden Share in U.S. Steel, asserting government control.
- Imposing a requirement for chip manufacturers like Nvidia and AMD to pay 15% on revenues from China.
- Securing ownership stakes in multiple tech and resource companies.
Specific Investments
- 10% in Intel Corporation.
- 15% in MP Materials, a rare earth producer.
- 10% in Lithium Americas Corp.
- 10% in Trilogy Metals Inc.
Additionally, Trump’s establishment of a “Strategic Bitcoin Reserve and Digital Asset Stockpile” shows a shift towards government oversight in digital currencies. There are also plans for a sovereign wealth fund designed for government investments.
Implications of Trump’s Policies
Last expresses concern that these developments are steering the American economy towards structures similar to those in China or Saudi Arabia. He argues that Trump’s administration is moving away from traditional American free-market principles.
As Last provocatively concludes, these shifts could easily lend themselves to the label of socialism. This prompts the question: Why is it so difficult to openly acknowledge that Donald Trump is fostering a system reminiscent of Communist ideologies?
