00:00Of course, it's not the first time the U.S. has gotten involved with corporate America,
00:03and the Trump administration in particular has taken a more aggressive approach.
00:07Let's bring in Scarlett Fu, who has more. Hey, Scarlett.
00:10Hi, Dani. Yeah, that's right. Under the Trump administration, the government has begun to
00:13take minority stakes in a handful of strategic industries, from semiconductors to critical
00:18minerals. The splashiest investment to date is Intel. Last year, the government converted some
00:24$9 billion of subsidies awarded during the Biden administration into equity,
00:28leaving Uncle Sam as the chipmaker's third largest shareholder. Also last year, the Pentagon backed
00:34a group of minerals companies, including Lithium Americas, MP Materials, and Trilogy Metals,
00:40and it now owns equity stakes in them, ranging from 5% to up to 15%. Now, as you mentioned,
00:45we've seen the U.S. take ownership stakes before in General Motors, in Citigroup, and AIG during the
00:51great financial crisis. But those were temporary defensive bailouts. This time around, the investments
00:57reflect a broader shift in industrial policy aimed at reducing reliance on China while strengthening
01:02domestic supply chains, which makes this potential government rescue package for Spirit, which
01:07reportedly involves the U.S. government having the option to own as much as 90% of the carrier,
01:13a bit of a return to the old days.
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