Elon Musk announced on a recent earnings call that he will be reducing his involvement in the Trump administration to concentrate on Tesla, which is facing a drastic 71% drop in net income and significant declines in automotive sales globally. Meanwhile, Treasury Secretary Scott Bessent reassured investors about the sustainability of trade policies, mentioning that the ongoing trade war with China isn't feasible. President Trump's indication of possible tariff reductions against China further calmed financial markets, reflecting growing concerns over economic stability and trade negotiations with Japan and India.
Elon Musk announced he would reduce his time with the Trump administration to concentrate on Tesla, amid significant declines in the company's automotive sales.
Treasury Secretary Scott Bessent reassured markets by stating that a trade war against China is unsustainable, while Trump suggested easing tariffs against China, calming investor fears.
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