President Donald Trump is accelerating efforts to lock in high-profile corporate deals across 20 to 30 strategic industries, aiming to showcase economic wins before the 2026 midterm elections. The push spans pharmaceuticals, artificial intelligence, energy, mining, semiconductors, and more — a sweeping intervention that marks one of the administration’s most ambitious industrial strategies yet.
Pharma in the Spotlight
Pharmaceutical giants are receiving near-daily calls from the White House. According to sources, Eli Lilly has been asked to produce more insulin, Pfizer to ramp up cancer and cholesterol drugs, and AstraZeneca to consider moving its headquarters to the US. On Tuesday, Trump announced a deal with Pfizer CEO Albert Bourla to cut drug prices in exchange for tariff relief.
The White House insists that such announcements must come directly from the president. Eli Lilly reportedly drew Trump’s ire when it failed to include him in a September plant-opening announcement.
Beyond Big Pharma
The administration is pursuing deals across a wide array of critical industries, offering tariff relief, revenue guarantees, and even federal equity stakes in exchange for commitments to boost US supply chains. Recent deals include a 10% government stake in Intel and a “golden share” in Nippon Steel’s $14.9 billion U.S. Steel acquisition.
Howard Lutnick, Trump’s Commerce Secretary and former Wall Street dealmaker, has emerged as the administration’s “dealmaker-in-chief,” pushing for equity stakes wherever taxpayer funds are involved: “If we’re going to give you the money, we want a piece of the action,” Lutnick told CNBC.
$250 Billion Financing Power
Much of the financing will run through the International Development Finance Corporation (DFC), originally created to fund overseas development. A proposal before Congress would quadruple its budget to $250 billion and allow equity investments in US infrastructure, energy, and minerals — a dramatic expansion of its role.
In parallel, Japan’s $550 billion trade contribution is being earmarked for a new US Investment Accelerator, designed to backstop domestic supply chains and cut reliance on China.
Strategic Minerals and AI Infrastructure
Trump’s team is also targeting rare earth minerals, lithium, and quantum computing projects, treating them as pandemic-style emergencies after China restricted key exports. The Pentagon’s 15% stake in MP Materials, coupled with a long-term Apple supply deal, is being touted as a template for future interventions.
Meanwhile, major AI projects like Project Stargate in Texas — a partnership between OpenAI, SoftBank, and Oracle — are being framed as national security priorities, with Trump seeking more deals to re-shore advanced computing capacity.
Critics Warn of “State Capitalism”
The scale of federal involvement has sparked concern even among free-market advocates. “It’s amazing that a Republican administration is taking us farther away from traditional capitalism than any other Democratic administration,” said Columbia Law professor John Coffee.
Others warn that companies fear being pressured into equity concessions. “The No. 1 concern is this may be short lived,” said attorney Y. David Scharf, noting the risk of reversal under a future administration.
Trump’s aggressive dealmaking represents a sharp break from laissez-faire capitalism and puts Washington at the center of industries from pharma to AI to minerals. With the midterms looming, the White House is betting that a wave of big-ticket announcements — made from the Oval Office — will both boost the economy and deliver political dividends.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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