Larry Kudlow Slams Trump Admin Nationalizing Part of Intel: ‘Very, Very Uncomfortable With That Idea’
Economist Stephen Moore joined Larry Kudlow’s Fox Business show on Friday, and the two both strongly condemned the Trump administration taking over 10% of chipmaker Intel, which was just announced.
After a glowing discussion about Trump’s economy, Kudlow asked Moore, “How about the U.S. Government owning 10% of Intel?”
“I hate corporate welfare. That’s privatization in reverse. We want the government to divest of assets, not buy assets. So terrible, one of the bad ideas that’s come out of this White House,” said Moore, who recently joined Donald Trump in the Oval Office with a presentation to explain to reporters just how great Trump’s economy is.
“I am very, very uncomfortable with that idea. I’m very uncomfortable with that one, but that’s a conversation for another meal on another day. Thank you, Steve Moore,” added Kudlow, who served in the first Trump administration and is a reliable Trump booster in the media.
Trump announced the Intel takeover on Truth Social, writing, “It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.”
Commerce Secretary Howard Lutnick also posted about the move, which was his policy proposal, “The United States of America now owns 10% of Intel, one of our great American technology companies. This historic agreement strengthens U.S. leadership in semiconductors, which will both grow our economy and help secure America’s technological edge.”
Watch the clip above via Fox Business.
