Controversy erupts as a new SPAC advised by Trump sons seemingly seeks government incentives, raising ethical concerns.

Story Overview

• Eric and Donald Trump Jr. serve as advisers to a new SPAC.
• Millions of founder shares awarded to the Trump sons.
• Original filings suggested plans to leverage government incentives.
• References to incentives were deleted after media scrutiny.

Trump Sons’ Involvement in New SPAC

Eric Trump and Donald Trump Jr. have been appointed as advisers to New America Acquisition 1 Corp., a special purpose acquisition company (SPAC). They were awarded millions of founder shares, raising questions about potential conflicts of interest. This SPAC was created with the intention of revitalizing domestic manufacturing, a cause aligning with former President Donald Trump’s policies.

The involvement of the Trump sons highlights ongoing debates about the intersection of business and politics, especially considering their family’s political influence. In its initial filing, New America Acquisition 1 Corp. included references to benefiting from federal and state incentives, which were later removed after media inquiries by the Associated Press.

Don Jr. And Eric Trump Back New SPAC Targeting American Manufacturing—Here’s How These Deals Have Worked In The Pasthttps://t.co/7JgnKw771L pic.twitter.com/6bsiZ5jIuR

— Forbes (@Forbes) August 4, 2025

Revised Filings and Ethical Concerns

The rapid revision of the company’s filing to remove references to government incentives has sparked further scrutiny. The law firm Paul Hastings LLP, responsible for the filing, attributed the original language to a clerical error by “scriveners.” This development has intensified concerns about the ethical boundaries between public service and private interests, given the Trump family’s history of blending business with politics.

While the company continues to seek a suitable acquisition target, the Trump Organization has remained silent regarding the filing changes and future plans. Experts in corporate governance highlight the risks of conflicts of interest when politically connected individuals are involved in ventures seeking government support.

Watch: Don Jr. And Eric Trump Back New SPAC To Boost American Manufacturing

Potential Implications and Industry Impact

The short-term implications include increased scrutiny of the SPAC and its advisers, alongside potential regulatory challenges. Long-term effects could set precedents for disclosure and ethical standards in SPACs involving politically connected figures. This situation underscores broader concerns about political influence in private enterprise, particularly when government incentives are involved. The case may prompt tighter monitoring of SPAC disclosures and the participation of politically exposed individuals in such financial ventures.

Investors, the Trump family, and the broader public concerned with government ethics are significantly affected. The narrative raises questions about the ethical obligations of business leaders with political affiliations and the transparency required in their operations.

Sources:

Company advised by Trump sons said it hoped to benefit from fed incentives
Donald Trump Jr. and Eric Trump back new manufacturing firm