Eric, Donald Trump Jr. Back $300M US Manufacturing SPAC

President Donald Trump's sons, Eric Trump and Donald Trump Jr., are backing New America Acquisition I Corp., a special-purpose acquisition company (SPAC) aiming to boost U.S. manufacturing by targeting companies that revitalize domestic manufacturing and strengthen critical supply chains. The SPAC plans to raise $300 million in an initial public offering on the New York Stock Exchange and seeks to acquire businesses with a combined enterprise value of at least $700 million. Eric Trump received three million founder shares and Donald Trump Jr. two million shares, holdings that could be worth millions after a merger. This venture aligns with President Trump's platform of encouraging domestic manufacturing growth through tariffs and economic policies. The SPAC will be led by CEO Kevin McGurn and is part of a broader portfolio of business ventures involving the Trump family, including past SPAC deals and cryptocurrency interests. Despite the Trump family's enthusiasm for SPACs, their track record has been mixed, as seen in the fluctuating value of Trump Media and Technology Group's stock following its public debut via SPAC.