President Donald Trump announced that his administration will be conducting a "major tariff investigation on furniture," completed within 50 days. After that, Trump vows an undetermined tariff rate will be implemented on furniture coming into America.

President Donald Trump on Friday announced the U.S. government has secured a 10% stake in struggling Silicon Valley pioneer Intel in a deal completed just a couple weeks after he depicted the

Liberal U.S. Senator Bernie Sanders on Wednesday threw his support behind President Donald Trump's plan to convert U.S. grants to chipmakers, including $10.9 billion for Intel, into government stakes in the companies.

While Intel says the government is making an “$8.9 billion investment in Intel common stock,” the administration does not appear to be committing new funds.

Intel shares were up about 6% on the day, adding to earlier gains after reports that President Trump is set to announce the U.S. government is taking a nearly 10% stake in troubled chipmaker. The investment would cap a two-week frenzy in Washington over the future of the company.

Conservative radio host Erick Erickson called the equity stake plan “terrible” and said it was “actual socialism happening by a Republican administration.”