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NYT: Trump cut billion-dollar Kazakhstan mining deal

newsJun 28, 2026263,416

The New York Times reports that President Trump and Commerce Secretary Howard Lutnick helped negotiate a U.S., Kazakhstan agreement, signed in November 2025, to develop one of the world’s largest untapped tungsten reserves. The project later secured up to $1.6 billion in U.S. government, backed financing and has been described as a roughly billion‑dollar deal. Weeks after the agreement, investors tied to Donald Trump Jr. and Eric Trump acquired a roughly 20 percent stake in the venture, while sons of Howard Lutnick raised about $210 million for a partner connected to the project. The Times says those moves mean the president’s sons and Lutnick’s sons stand to profit from the deal. The reporting also notes the mine may not produce tungsten, if at all, until about 2030. The story ties this transaction to a broader pattern of family-linked financial interests emerging around administration policy decisions.

emptywheel
@emptywheel.bsky.social

This story on the Trump and Lutnick corrupt interest in a Tungsten deal is breathtaking on its face. But as you read it, remember urgency behind the deal was Trump's illegal tariffs. Then note that deal won't actually PRODUCE any tungsten, if it does, until 2030. www.nytimes.com/2026/06/28/w...

130645d ago
Eric Lipton NYT
@ericlipton.nytimes.com

Since the start of President Trump’s second term, The New York Times has been documenting examples of moves by members of Mr. Trump’s family or the families of top aides to profit off of Trump administration policy actions. Today we take another look.

111345d ago
Quoting this
John Rogers302

I want “we will be reviewing and cancelling every government contract issued to a business associated with the family of any member of this Administration, followed by a top down review of all such deals that might involve any members of Congress” in every candidates speech.

Jeff Lazarus272

The scale of corruption coming from the Trump family is without precedent in American history, and is on par with the 20th and 21sr century’s greatest kleptocrats. Trump’s name will live alongside Suharto, Marcos, Assad, and others who siphoned billions of dollars from the countries they ruled.

Norm Ornstein63

Great work on the part of The Times

Kat O’Brien22

We are all being robbed blind in plain sight. Are you ok with that? Do you want to give your retirement savings to Donald Trump Jr.? Do you think you should pay more for gas so Eric Trump can make bank? Candidates who use this plain messaging within their campaigns will do better than if not.

Victor Pickard22

The corruption is so profound and constant, it's crazy-making.

Crip Dyke13

I know that some of you welcome this reporting. And I actually understand why. But every time I see good reporting that questions official premises all it does is confirm that NYT is smart enough to know the anti-trans campaign is bullshit. They print anti-trans articles bc they hate trans ppl.

Stephan12

Die alltägliche Korruptionsmeldung aus dem Umfeld des WH.

Daily Rotation6

Take a look at this thread (all free links) to see how Trump is working the presidency

Alexander Howard6

The abuse of entrusted power for personal gain is public corruption. Any elected official or appointee who profits from public policy actions after not divesting from conflicts of interest is engaging in corruption. When a President profits from abusing power, they engaged in emolumental corruption.

This skeet will self destruct5

Since the start of President Trump’s second term, The New York Times has used the most inane sentence in history (“This emboldened mixing of federal policymaking and personal business”) to avoid using the word “corruption”.

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