As the political world prepares after one of the most polarizing elections in history, speculation abounds regarding Donald J. Trump’s goals for his return to the White House in 2025. The former president, a businessman-turned-politician, left a legacy that expanded far beyond the walls of Congress or the Oval Office, with implications that rippled into various sectors of the economy. One pivotal question that’s already sparking conversation among analysts, business leaders, and political theorists revolves around the relationship between government and business during his administration: Will the Trump 2025 presidency usher in a new era for government-linked firms? To answer this question, it’s important to consider Trump’s history in politics, his business-oriented approach to governance, and the potential policy shifts that could emerge from his unique leadership style. Below, we analyze what might change in a second Trump administration for businesses that operate in close proximity to the levers of government power, as well as what it could mean for the future of public-private partnerships. A Quick Look Back: Business in Trump’s First Term During his first presidency (2017-2021), Donald Trump garnered attention for his distinctively pro-business stance, frequently touting deregulation, tax reforms, and economic growth. Business-friendly reforms were often