The Trump administration is reshaping Republican economic policy with direct investments in U.S. companies, according to Benzinga. The level of state intervention rarely seen outside wartime. Trump now holds a “golden share” in the controversial Nippon Steel–U.S. Steel merger, giving him veto power over key decisions. The Department of Defense will take a $400 million equity stake in rare-earth miner MP Materials, becoming its largest shareholder. The Republican Party is shifting from free-market principles toward state intervention in industries deemed crucial for national security. The Defense Department’s equity stake in MP Materials marks an unprecedented level of public-private cooperation in U.S. mining, resembling nationalization without its typical benefits. Experts say this could set a new precedent for public-private partnerships, though some warn it may trigger further market distortions.