Donald Trump and Elon Musk's DOGE, bracing for tariffs, and no Jamie Dimon: Politics news roundup

William Gavin

15 November 2024 at 5:00 am·3-min read

Graphic: Images: Kevin Dietsch, Chip Somodevilla, Samuel Corum, RYAN COLLERD

President-elect Donald Trump is set to take office in a matter of months after handily defeating his rival at the ballot box. Here’s the latest on what that means for consumers, federal agencies, corporate America, and — of course — Elon Musk.

Donald Trump is coming. Here’s what that means for Lina Khan and the FTC

Under Chair Lina Khan, the Federal Trade Commission aggressively pursued litigation against major mergers. That could slow down with President-elect Donald Trump back in the White House. - Photo: Kevin Dietsch (Getty Images)

With President-elect Donald Trump returning to the White House, a changing of the guard at the Federal Trade Commission (FTC), a usually uncontroversial agency, is set to take place within a handful of months.

Donald Trump has unambiguously positioned himself as a pro-business slasher of red tape. As he prepares to return to the White House for a second term, the financial sector is ready for a new era of more lax regulations and oversight — and the windfall that could come with it. — Rocio Fabbro

Elon Musk - Photo: Samuel Corum (Getty Images)

Tesla (TSLA) and SpaceX CEO Elon Musk will be joined by Vivek Ramaswamy as “outside of government” consultants on federal spending for President-elect Donald Trump’s coming administration. Exactly what that means is still unclear.

Donald Trump’s re-election could spell trouble for retailers and consumers, especially if his proposal to implement major tariffs on imports comes to fruition. Everyday items, from shoes to toasters, could be impacted. Here’s how. — Francisco Velasquez

Tesla and SpaceX CEO Elon Musk - Photo: Samuel Corum (Getty Images)

While some House races remain uncalled as the counting of votes continues, the 2024 election season is effectively over, with President-elect Donald Trump headed to the White House. But one of his biggest supporters isn’t ready to stop.

Tesla and SpaceX CEO Elon Musk and President-elect Donald Trump at a campaign rally in Pennsylvania in October 2024. - Photo: Anna Moneymaker (Getty Images)

Tesla (TSLA) and SpaceX CEO Elon Musk is riding high right now. After months of work campaigning on President-elect Donald Trump’s behalf, his chosen candidate is heading back to the White House, proving that his latest gamble was a success — and earning him more sway with the upcoming administration.

As President-elect Donald Trump finalizes some high-level roles in his incoming administration, JPMorgan Chase (JPM) chief Jamie Dimon is not in the running. — Rocio Fabbro

Donald Trump is already narrowing his picks for Treasury Secretary, a high-level cabinet position that he’s looking to a slate of current and former finance industry executives to fill. — Rocio Fabbro

Donald Trump’s impending return to the White House has boosted some industrial sectors he has historically championed and others he advocated for during his campaign. — Vinamrata Chaturvedi

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Associated Press
China's Xi is likely to decline Trump's inauguration invitation, seeing it as too risky to attend
Chinese leader Xi Jinping would likely see President-elect Donald Trump’s invitation to attend his inauguration as too risky to accept, and the gesture from Trump may have little bearing on the increasingly competitive ties between the two nations as the White House changes hands, experts say. Trump’s incoming press secretary, Karoline Leavitt, confirmed on Thursday that Trump extended an invitation to the Jan. 20 ceremony.
The Hill
Gingrich: Xi attending Trump inauguration would be ‘signal to the planet’
Former House Speaker Newt Gingrich (R-Ga.) responded to President-elect Trump’s invitation to Chinese President Xi Jinping to attend Inauguration Day in January, saying his acceptance would send a global “signal.” “Look, I think Trump believes in constant offense, constant momentum, keeping things going forward,” Gingrich told Fox New’s Jesse Watters in an interview Wednesday. “I…
The Daily Beast
Trump Has Invited China’s Xi Jinping to Inauguration: Report
President-elect Donald Trump invited Chinese President Xi Jinping to attend his inauguration in January, multiple sources told CBS News on Wednesday. The president-elect reportedly sent the invite to the leader of China, a nation he has threatened with tariffs for months, shortly after his electoral victory in November, the sources told the network. It is unclear if the Chinese government has accepted the invite, and the Chinese Embassy has not commented on the invitation. A Chinese head of stat
The Hill
Bill Clinton says he’s open to talking to Biden about preemptive pardon for Hillary Clinton
Former President Clinton said he is open to having a conversation with President Biden about a potential preemptive pardon for his wife, former Secretary of State Hillary Clinton. Bill Clinton joined “The View” on Wednesday, where he was discussing President-elect Trump taking office early next year and the threat of him going after political enemies…
BBC
Bloody siege ends Myanmar army control of western border
Insurgents seized Myanmar's border with Bangladesh in one of the bloodiest battles of the civil war.
The Telegraph
Israeli troops can remain in Gaza after war, Hamas concedes in major U-turn
Hamas has reportedly agreed to allow Israeli troops to remain in Gaza in a major about-turn that could unblock a hostage deal.
The Telegraph
Russian missile scientist ‘assassinated by Ukrainian special forces’
A Russian scientist known for developing cruise missiles has been found shot dead in a snowy wooded area near Moscow.
The Independent
Biden commutes 1,500 sentences and issues 39 pardons in biggest single-day act of clemency in history
‘America was built on the promise of possibility and second chances,’ Biden said in a statement
France 24
Russia threatens to retaliate after Ukrainian ATACMS strike in Rostov
Moscow on Wednesday accused Kyiv of firing US-supplied ATACAMS missiles on a military airfield in its southern Rostov region and threatened to retaliate. Russian President Vladimir Putin said that Ukraine's "destructive" approach made peace impossible. Russia on Wednesday vowed retribution against Ukraine, accusing Kyiv of firing Western-supplied missiles on a military airfield in its southern Rostov region.President Vladimir Putin has previously threatened to launch a hypersonic ballistic missi
CBC
Ford threatens to cut off Ontario's energy supply to U.S. if Trump follows through on tariffs
Premier Doug Ford says Ontario could cut off energy to the U.S. if president-elect Donald Trump makes good on a threat to impose steep tariffs on Canadian goods.Ford told reporters at Queen's Park that federal Finance Minister Chrystia Freeland will put together a list of items upon which Canada could impose retaliatory tariffs and so will the Ontario government."We will go to the full extent depending how far this goes. We will go to the extent of cutting off their energy, going down to Michiga
BBC
Net closing in on South Korea's president as MPs get death threats over impeachment vote
Yoon Suk Yeol - whose attempt to impose martial law backfired - faces another vote in parliament this weekend.
South China Morning Post
China's Wolf Warrior Lu Shaye heads home from France in shadow of controversy
China's ambassador to France, Lu Shaye, whose remarks about Ukraine and other former Soviet states caused uproar across Europe last year, is wrapping up his tenure in Paris. Lu, 60, one of the country's most prominent Wolf Warrior diplomats who is famed for his abrasive style, is expected to return to Beijing next month, according to French media. At a farewell reception at Beijing's embassy in Paris on Monday, Lu said he would continue to support the Chinese community in France "no matter where
Reuters
Syrian rebel leader says he will dissolve toppled regime forces, close prisons
Syrian rebel leader Ahmad al-Sharaa - better known as Abu Mohammed al-Golani - told Reuters in a written statement on Wednesday that he would dissolve the security forces of the toppled regime of Bashar al-Assad. His forces swept across Syria in a lightning offensive that overthrew 50 years of Assad family rule, replacing it with a three-month transitional government of ministers that had been ruling a rebel enclave in Syria's northwest. The military command affiliated with his group, which is known as Hayat Tahrir al-Sham, already said they would grant an amnesty to military conscripts.
The Daily Beast
Nancy Pelosi ‘Actively Working to Tank’ AOC’s Bid for Top Committee Role
Nancy Pelosi is reportedly campaigning against Rep. Alexandria Ocasio-Cortez’s (D-NY) bid to be the top Democrat on the House Oversight Committee. The former speaker of the House of Representatives is instead pushing Rep. Gerry Connolly (D-VA) to win the high-ranking role, and is “actively working to tank” AOC’s bid while “making calls” on behalf of Connolly, Punchbowl News reported Thursday. The report adds that Pelosi’s behind-the-scenes maneuvering displays the sheer “amount of political capi
Robb Report
These Are the 25 Richest Families in the World for 2024
Leading the pack is the Walton family, who founded Walmart and have a combined net worth of $432.4 billion.
Robb Report
New Zealand Is Changing Its Golden Visa Program to Lure Wealthy Visitors
The country has seen a drastic decrease in the number of applicants since 2022.
INSIDER
Russian troops are likely still at their key bases in Syria, and it will be 'obvious' if they try to leave: senior analyst
While satellite images show that Russian warships have left the Tartus naval base, aircraft and gear at Khmeimim Air Base remained on-site on Tuesday.
Reuters
Trump trade adviser warns against currency manipulation as China mulls weaker yuan
A top trade adviser to President-elect Donald Trump told Reuters on Thursday that the new administration would not look "fondly" on any attempt by China to manipulate its currency, responding to a Reuters report that authorities there were considering allowing the yuan to weaken next year. Peter Navarro, Trump's incoming senior counselor for trade and manufacturing, said the White House would not interfere with the Treasury Department's biannual review looking in to whether foreign trade partners are manipulating their currencies.
The Independent
Myanmar soldiers ‘forced to take meth’ to stay sharp
Soldiers captured by rebel forces claim they were given methamphetamines before being told to torch houses
The Hill
Opinion - Democrats should stop saving the Republicans from themselves
If Republicans want to drive the government into a shutdown or default — or refuse to fund disaster aid — let them.

Donald Trump and Elon Musk's DOGE, bracing for tariffs, and no Jamie Dimon: Politics news roundup

Donald Trump is coming. Here’s what that means for Lina Khan and the FTC

Trump’s win is about to boost banks in a big way

Trump’s DOGE gift to Elon Musk is basically just a consulting gig

Jeans, coats, and couches: 10 items that could feel the pinch of Trump’s tariffs

Musk isn’t finished

Musk is already flexing his influence with Trump. Here’s how

Trump to Jamie Dimon: You’re not hired

Trump could pick his Treasury Secretary this week. Here are 7 leading candidates

11 stocks soaring after Trump’s win — and why they’re up

Latest stories

China's Xi is likely to decline Trump's inauguration invitation, seeing it as too risky to attend

Gingrich: Xi attending Trump inauguration would be ‘signal to the planet’

Trump Has Invited China’s Xi Jinping to Inauguration: Report

Bill Clinton says he’s open to talking to Biden about preemptive pardon for Hillary Clinton

Bloody siege ends Myanmar army control of western border

Israeli troops can remain in Gaza after war, Hamas concedes in major U-turn

Russian missile scientist ‘assassinated by Ukrainian special forces’

Biden commutes 1,500 sentences and issues 39 pardons in biggest single-day act of clemency in history

Russia threatens to retaliate after Ukrainian ATACMS strike in Rostov

Ford threatens to cut off Ontario's energy supply to U.S. if Trump follows through on tariffs

Net closing in on South Korea's president as MPs get death threats over impeachment vote

China's Wolf Warrior Lu Shaye heads home from France in shadow of controversy

Syrian rebel leader says he will dissolve toppled regime forces, close prisons

Nancy Pelosi ‘Actively Working to Tank’ AOC’s Bid for Top Committee Role

These Are the 25 Richest Families in the World for 2024

New Zealand Is Changing Its Golden Visa Program to Lure Wealthy Visitors

Russian troops are likely still at their key bases in Syria, and it will be 'obvious' if they try to leave: senior analyst

Trump trade adviser warns against currency manipulation as China mulls weaker yuan

Myanmar soldiers ‘forced to take meth’ to stay sharp

Opinion - Democrats should stop saving the Republicans from themselves