The past week has been a whirlwind of activity, with significant developments in the corn industry, cryptocurrency, artificial intelligence, and electric vehicles. Here’s a quick recap of the top stories that made headlines.
RFK Jr. Pledge Could Shatter Corn Industry
Health and Human Services Secretary-designate Robert F. Kennedy Jr. has pledged to ban high fructose corn syrup (HFCS) and seed oils, causing alarm among corn farmers, especially in key regions like western Ohio. HFCS, a sweetener found in many processed foods, is a significant product of the corn industry. Kennedy’s stance against HFCS, which he links to health issues like obesity and diabetes, could potentially disrupt the industry.
Trump Signs Executive Order On Crypto
President Donald Trump has signed executive orders to strengthen U.S. leadership in the crypto industry and halt progress on central bank digital currencies. The order establishes a Presidential Working Group on Digital Asset Markets, which will include key figures such as the Secretary of the Treasury and the Chairman of the Securities and Exchange Commission. The group’s task is to develop a federal regulatory framework for digital assets and stablecoins.
Trump Reverses Biden’s AI Policies
On his first day in office, President Trump revoked former President Joe Biden's comprehensive executive order on artificial intelligence. The move was part of a broader action that reversed 78 Biden-era executive actions and aligns with Trump’s campaign promise to de-regulate industry.
Elizabeth Warren Lists Changes For Elon Musk’s DOGE Department
Senator Elizabeth Warren has presented strategies to tech mogul Elon Musk on how the newly formed Department of Government Efficiency could potentially cut government spending. Among her recommendations were renegotiating better deals for Department of Defense contracts and preventing the military from doing civilian jobs.
Tesla’s Chinese Rivals Surge Over Lack Of Tariff Announcement
Shares of EV startup Rivian Automotive Inc. RIVN fell in premarket trading after President Trump revoked a 2021 executive order by former President Biden that aimed to ensure half of new vehicles sold in the U.S. by 2030 are electric. Trump, however, did not impose any tariffs on Beijing causing shares of U.S.-listed Chinese EV startups to rise.
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This story was generated using Benzinga Neuro and edited by Anan Ashraf.
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