U.S. President Donald Trump looks on during the signing of executive orders in the Oval Office at the White House in Washington, D.C., on Aug. 25, 2025.
Jonathan Ernst | Reuters
“State-owned enterprise” is a term you wouldn’t normally bandy about when mentioning the United States — especially not with the country’s Republican party, which has been associated with a laissez-faire approach to businesses and the economy.
If White House gets it way, however, it appears that the government’s 10% stake in Intel is just the start. U.S. President Donald Trump in a Truth Social post signaled favoring companies that strike similar “lucrative” deals with the government.
Earlier in the day, Kevin Hassett, Trump’s economic advisor, told CNBC that “at some point there’ll be more transactions, if not in this industry then other industries.”
Even though Intel’s stock popped when news of the deal broke, the chipmaker in a filing on Monday warned that its agreement with the Trump administration could draw “adverse reactions” from investors, customers and foreign governments.
That’s not an unwarranted fear: Recall how China has been urging its local companies to avoid Nvidia chips amid the chipmaker’s revenue-sharing deal with Washington, or how consumers have steered away from Elon Musk’s Tesla because of his stint in the White House.
Perhaps, it isn’t so much “state-owned enterprises,” but “Trump-associated enterprises,” that might be fueling investor worries.
— CNBC’s Jeff Cox contributed to this report
What you need to know today
Trump threatens 200% tariffs on China over rare earths. If Beijing withholds exports of the magnets, Trump will charge the country “200% tariffs or something,” he said Monday stateside. One analyst thinks it’s a signal that Trump wants a deal soon.
Trump fires Fed Governor Lisa Cook. In a letter posted on Truth Social, the U.S. president said he has determined “sufficient cause” to terminate her “immediately.” Cook responded that Trump “has no authority to do so” because “no cause exists under the law.”
Countries with digital services tax will attract ‘substantial’ new tariffs, vows Trump. In addition to tariffs, Trump also said in a Monday post on Truth Social that he would restrict chip exports to those countries.
U.S. stocks lost steam on Monday. All three major indexes fell, giving back some of Friday’s gains. On Thursday, Interactive Brokers will replace Walgreens Boots Alliance in the S&P 500. Asia-Pacific markets declined Tuesday.
[PRO] Consider this Nvidia derivative, CIO says. Nvidia earnings, out Wednesday, are in the limelight this week. But one chief investment officer thinks it’s worth looking at a Nvidia partner also benefiting from artificial intelligence.
And finally…
U.S. President Donald Trump and South Korean President Lee Jae-myung talk to reporters before an Oval Office meeting at the White House on Aug. 25, 2025 in Washington, D.C.
Chip Somodevilla | Getty Images News | Getty Images
Ships, planes, billions in investment pledges: South Korea’s Lee charms Trump with deals
The U.S. and South Korea announced a series of agreements Monday in Washington, including multibillion-dollar investments, record $50 billion aviation purchases by Korean Air, and new energy cooperation, as leaders from both countries met in the Oval Office.
“We really sort of need each other. We love what they do. We love their products. We love their ships. We love a lot of the things that they make, and they love what we have,” U.S. President Donald Trump said during his press conference with South Korean President Lee Jae Myung.
— Lim Hui Jie