White House TikTok Deal Keeps MAGA in the Driver’s Seat

President Donald Trump has spent much of his second term so far reimagining the US government as the world’s most high-profile activist investor. In June his administration secured a “golden share” of US Steel Corp., which he said would allow America to control the company even after its acquisition by Japan’s Nippon Steel Corp. Two months later the US took a 10% stake in the floundering chipmaker Intel Corp. Trump’s broader economic strategy hinges on imposing tariffs, in part because doing so gives him leverage as he negotiates deals with companies looking to avoid them. His administration ...