Last week was a whirlwind of news, with major developments unfolding from the White House to El Salvador. From Elon Musk’s new government role to President Trump’s latest tariff imposition, the weekend was packed with stories that kept us on our toes. Here’s a quick recap of the top stories.
Elon Musk’s New Government Role
Elon Musk has been appointed as a “special government employee” by the White House. Musk’s new role, leading Trump's cost-cutting initiative, the Department of Government Efficiency, has sparked concerns among some agencies and Democratic lawmakers. The billionaire’s appointment allows him to potentially bypass certain disclosure rules applicable to regular government employees.
Trump’s Tariffs on Top Trading Partners
President Donald Trump imposed tariffs on America’s three largest trading partners – Canada, China, and Mexico. While economists warn about potential negative impacts, macro strategist Craig Shapiro argues that these tariffs could serve as a tool for transitioning the U.S. economy to a more sustainable future.
Bukele’s Prison Proposal
El Salvador’s President Nayib Bukele has offered to incarcerate convicted criminals from the U.S. in his country. This proposal, praised as “unprecedented” by U.S. Secretary of State Marco Rubio, could make El Salvador’s prison system sustainable.
DOGE Scandal
Marko Elez, a Department of Government Efficiency staff member, resigned following revelations of his involvement with a racist social media account. This comes amid a legal dispute involving Elez's access to sensitive Treasury Department data.
Chevron’s Venezuela Business
The Trump Administration is in talks with Chevron Corp CVX over the company’s business in Venezuela. The administration could potentially revoke Chevron's license to operate in the country.
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