Overview

• At the Oval Office press conference, Trump praised Musk for reducing billions in federal expenditures through aggressive cost-cutting measures
• Musk confirmed his exit amid a tenure that eliminated thousands of jobs and cancelled billions of dollars in government contracts
• The Tesla chief appeared with a bruised eye he said was inflicted by his son, X Æ A-12, drawing attention on national television
• The administration is advancing tax reform proposals and new auto tariffs aimed at boosting domestic manufacturing
• Financial markets are watching closely as investors assess the economic impact of continued spending reductions under Trump’s policies