Biden 'Never Nationalized Companies': Wall Street Journal Drags Trump for Turning DC Into 'Chinatown' [View all]

Source: MEDIAite

Aug 25th, 2025, 8:46 am


The Wall Street Journal dragged President Donald Trump over his economic agenda in a new editorial accusing him of turning Washington, D.C., into “Chinatown.”

“Not long ago it would have been hard to imagine a Republican President demanding government ownership in a private company, but here we are. And now the Trump Administration is toying with a tax on patents too—meaning, a tax on innovation,” began the Journal.

After summarizing the events that led to the federal government taking a 10% stake in Intel, the influential, center-right newspaper predicted that state involvement in the company would hamper Intel’s ability to compete.

“The Administration says the deal won’t include a seat on Intel’s board or ‘governance or information rights,’ and it will mostly vote its shares with Intel’s board. But government support will ease the imperative for Intel to become more competitive. That’s one reason China’s partially state-owned Semiconductor Manufacturing International Corporation has struggled. In the name of competing with China, the U.S. is imitating its model of state-run business. Washington is becoming Chinatown,” it argued. “Mr. Trump accused Kamala Harris of being a socialist, but the Biden Administration never nationalized companies.”

Read more: https://www.mediaite.com/media/news/biden-never-nationalized-companies-wall-street-journal-drags-trump-for-turning-dc-into-chinatown/