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Home International

US Secures Intel Stake as Furniture Tariff Probe Begins

Doris Israel Ijeoma by Doris Israel Ijeoma
August 23, 2025
in International
0
US Secures Intel Stake as Furniture Tariff Probe Begins

President Donald Trump made a series of major announcements on Friday, revealing new U.S. economic moves while also drawing attention for a surprise museum visit.

Earlier in the day, Trump said the United States government now owns a 10% stake in semiconductor giant Intel.

He described the acquisition as a $10 billion deal reached with company chief executive Lip-Bu Tan, portraying it as a step to strengthen America’s control over critical technology industries.

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Trump claimed the agreement would ensure the U.S. remains competitive in global chip production.

Just hours later, Trump declared that his administration had launched a 50-day investigation into imported furniture, with the intention of imposing new tariffs once the review is complete.

The president said the measure is part of a broader effort to protect domestic manufacturing from what he called unfair foreign competition.

The announcements came as Trump also made an unannounced trip to The People’s House, a Washington museum dedicated to the history of the White House and its residents.

Meanwhile, federal agents searched the Maryland home of former Trump national security adviser John Bolton. Authorities have not disclosed details of the investigation.

On Thursday, the U.S. Supreme Court issued a narrow 5-4 ruling that allowed the Trump administration to cancel over $780 million in research funding from the National Institutes of Health, drawing sharp criticism from medical and scientific communities.

The latest developments underscore Trump’s strategy of combining high-profile cultural appearances with aggressive economic and political moves.

With the 2026 elections approaching, analysts say the president is working to consolidate support through a mix of trade policies, legal battles, and symbolic gestures.

Tags: Donald TrumpIntelsemiconductor industryUS Economy
Doris Israel Ijeoma

Doris Israel Ijeoma

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