Since being reelected, President Donald Trump has falsely claimed his tariffs will reduce the national debt. Trump is now taking this marketing pitch to sell another one of his economic policies: government ownership in private companies.
On Wednesday, the Energy Department announced that the government will be taking a 5 percent stake in Canadian mining firm Lithium Americas and a 5 percent stake in Thacker Pass, the company's lithium mining project in Nevada. This equity stake builds on a $2.26 billion loan from the Biden administration Energy Department to the company last year to "help finance the construction of facilities for manufacturing lithium carbonate" at Thacker Pass, which has the largest confirmed lithium reserves in North America. The deal, according to Energy Secretary Chris Wright, will ensure "better stewardship of American taxpayer dollars."
