The White House Intervened to Get a $620 Million Deal for a Company Tied to Donald Trump Jr.

The Pentagon awarded a $620 million loan to Vulcan Elements, a North Carolina-based rare-earth magnet company, last year. ProPublica’s investigation reveals that the loan request originated from Peter Navarro, a White House adviser and friend of Donald Trump Jr., who holds a stake in the company. Defense officials confirmed that Vulcan was the only deal initiated by a top presidential aide among dozens under consideration. Navarro’s request prompted Pentagon staff to expedite the process, working late nights to finalize the loan in weeks. Sources described pressure from the White House to fast-track the deal, with one official stating, 'The call came from the White House: We have to get this done.' Despite denials from Trump Jr. and Vulcan’s founder, the loan significantly boosted the company’s valuation, which surged tenfold after the announcement. The loan aligns with the Pentagon’s efforts to reduce reliance on China’s critical mineral supply chains. However, it raises concerns about favoritism, as Trump-linked companies have previously benefited from government contracts and benefits. This marks the first instance where a federal contract has been directly tied to White House intervention, according to ProPublica’s reporting. Navarro and Trump Jr. have maintained a close relationship, with Trump Jr. visiting Navarro in prison during his subpoena defiance trial. A week before the loan was announced, Trump Jr. featured Navarro on his streaming show, promoting his book to subscribers. Another company linked to Trump Jr., a drone parts manufacturer, is also under review for a Pentagon loan, according to defense officials. The deal underscores broader allegations of self-dealing in the Trump administration, with Democratic lawmakers and watchdogs questioning the fairness of contracts awarded to Trump-affiliated businesses.