The article reports that President Trump has expanded executive power by invoking national security claims to impose tariffs and seize equity shares in private companies. Key figures mentioned include California Governor Gavin Newsom, Senate Minority Leader Chuck Schumer, and Todd Tucker of the Roosevelt Institute. The angle of this article is not a straightforward critique of Trump's actions, but rather an examination of how Democrats may be considering using these expanded powers for their own purposes, potentially perpetuating or even expanding executive authority over private businesses.
Written by the local model on 2026-09-04,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
President Donald Trump has greatly—and, in many cases, quite recklessly—expanded the executive branch's power over private businesses
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Trump → expand → businesses
The Trump administration has invoked claims of "national security" to levy higher tariffs on everything from steel to musical instruments.
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administration → invoke → instruments
It has used the same argument to seize equity shares in more than two dozen private companies, including a so-called "golden share" in U.S. Steel that grants the president the authority to veto future attempts to relocate headquarters or make changes to its production facilities.
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that → use → facilities
And if you think a future Democratic administration will try to stuff those executive powers back into their proper, constitutional boxes, well…don't hold your breath.
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administration → think → breath
Last week, a Canadian journalist asked Newsom to give assurances that a future Democratic administration would roll back the massive tariffs Trump has imposed on goods from Canada.
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Trump → ask → Canada
"I cannot guarantee that," Newsom said.
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Newsom → guarantee → that
"But I can guarantee you nothing like this, the level of disrespect, talking past people, talking down to people, talking past and down to you.
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I → guarantee → you
But it would not be a win for free trade, and it would not help Americans who are struggling to afford the cost of higher tariffs.
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who → help → tariffs
To be fair, not all Democrats are taking that approach.
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Democrats → take → approach
Senate Minority Leader Chuck Schumer (D–N.Y.) introduced a bill to curtail presidential tariff powers, and a group of Democrats in the House have led efforts to stop Trump's abuses of various tariff powers, with little success.
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group → introduce → success
Meanwhile, other Democrats are licking their chops over the vast economic powers that Trump has claimed for the presidency.
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Trump → lick → presidency
Many Democrats "see an opening, now that Trump has managed to cross what was long viewed as a political red line: putting the government in business with specific companies, influencing their governance and literally letting taxpayers share in the upside—or the downside," reports Politico.
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Politico → see → upside
Trump's demand for a golden share in U.S. Steel has "normalized this idea, you know, which I think again, sort of before 2024, I associated a lot with Bernie Sanders," Todd Tucker, director of industrial and trade policy for the Roosevelt Institute, tells Politico.
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Tucker → normalize → Politico
The Roosevelt Institute, which is run by Elizabeth Wilkens, a Biden administration veteran and Lina Khan's former chief of staff, is already planning how a future Democratic administration might use those tools.
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administration → run → tools
In a report published in July, the think tank detailed how the government could take equity stakes in companies to gain access to corporate boards and influence decisions.
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government → publish → decisions
Having direct access to corporate boardrooms will "give the government eyes, ears, and voice on setting corporate priorities in a way that one-off grants do not (and with lower transaction costs than the latter)," the report states.
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report → have → latter
Future policymakers could use these levers to mandate faster decarbonization, recognizing labor unions, 'buying American,' or banning stock buybacks.
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policymakers → use → buybacks
Because why worry about how power can be used in "the wrong hands," right?
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power → worry → hands
Its guiding principle for executive power was best articulated by Vice President J.D. Vance in October 2025: "We cannot be afraid to do something because the left might do it in the future."
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left → guide → future
At the time, Vance was responding to a college student who expressed concern about an unfriendly administration potentially targeting conservatives who might protest against it.
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who → respond → it
"How can we prevent someone from abusing that power?" the student asked.
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student → prevent → power
The Trump administration might shrug off those worries, but it is becoming obvious that some on the left are already eyeing the inverse of Vance's phrasing: "We can do this, because the right already did it in the past."
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right → shrug → past
That may turn out to be the Trump administration's most lasting policy legacy.
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That → turn → ?
