This week at the White House, several key initiatives are in focus. Here’s a summary of the major developments happening in Washington under President Trump. No opinions—just facts.
Musk Exits Government Role
Elon Musk has wrapped up his official government role, marking the end of his 130-day tenure as head of the Department of Government Efficiency (DOGE) under President Donald Trump’s second administration. As a special government employee, Musk was limited to 130 workdays per year, a milestone reached by the end of May.
Musk thanked Trump for the opportunity to cut wasteful spending and expressed optimism about DOGE’s ongoing influence. A White House official confirmed Musk’s departure, noting his offboarding process would begin Wednesday night.
VP Vance Champions Stablecoins at Bitcoin 2025
Vice President JD Vance used his keynote at Bitcoin 2025 in Las Vegas to promote the Trump administration’s pro-crypto stance, emphasizing the economic potential of stablecoins. Vance stated that stablecoins don’t threaten the U.S. dollar but instead serve as “a force multiplier of our economic might.”
His remarks come as Republicans push the GENIUS Act, legislation aimed at regulating stablecoins. The bill recently passed a key Senate vote with some bipartisan backing, though it may face challenges in the House, which has its own competing bill. The address reinforced the administration’s close ties to the crypto industry following a campaign heavily supported by digital asset donors.
Apple Tariff Debate Continues
National Economic Council Director Kevin Hassett downplayed concerns over a potential 25% tariff on Apple, saying the Trump administration doesn’t aim to harm the tech giant. Speaking on CNBC, Hassett said the tariffs are part of broader negotiations and suggested the situation is being overblown.
His comments followed President Trump’s social media post warning that Apple will face steep tariffs if it continues to manufacture iPhones outside the U.S. Trump reiterated his expectation that future iPhones sold in America be built domestically, signaling a continued push for reshoring U.S. manufacturing.
Tesla Rises as Musk Exits Trump Admin
Tesla shares jumped over 2% on Thursday after news broke that CEO Elon Musk is stepping away from his role in the Trump administration. The move reignited investor optimism that Musk will now refocus on Tesla, especially as the company prepares for its much-anticipated robotaxi launch.
Musk’s political affiliations have sparked protests and reputational concerns for Tesla, reportedly deterring some consumers and unsettling shareholders. His departure from the administration is being seen as a potential reset for the brand.
