Move over, CEOs. Someone else might be angling to weigh in on your company: the president of the United States.

President Donald Trump has brought a transactional mindset to the White House, one in which the US government isn’t just a regulator but a participant. The administration is determining where companies can make their products (likely domestically), what they can produce or who gets a share of the revenue.

Last week, the government paid for an almost 10% stake in struggling chipmaker Intel. “And we do a lot of deals like that,” Trump said from the Oval Office on Friday. “I’ll do more of them.”

The White House has taken on a role akin to activist investors – but with the muscle of the world’s largest economy and massive pressure campaigns from the Oval Office.

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