US: Musk To Step Back From Prominent Government Advisory Role - Politico
Apr-02 15:40
Politico reports that non-governmental advisor Elon Musk is expected to step back from his public-facing duties in President Donald Trump's White House, despite Trump remaining "pleased" with Musk and his Department of Government Efficiency initiative.
- Politico notes: "The transition, the insiders said, is likely to correspond to the end of Musk’s time as a “special government employee,” a special status that temporarily exempts him from some ethics and conflict-of-interest rules. That 130-day period is expected to expire in late May or early June."
- Should Musk's departure come ahead of the 130-day period it could be seen as the Trump administration managing political exposure to Musk's sliding approval rating. A new Marquette Law School survey found: "Approval of how Elon Musk is handling his work in the Department of Government Efficiency (DOGE) stands at 41%, with disapproval at 58%. Musk’s personal favorability is 38%, with 60% unfavorable."
- The report doesn't offer much new information but appears to counter some reporting suggesting that Trump would look to extend Musk's temporary 130-day cap.
- Trump told reporters at the White House this week that his Cabinet secretaries have “gotten a big education” from their experience with DOGE. Trump added: “There will be a point at which the secretaries will be able to do this work [without Musk],” indicating that work to cut the federal workforce will continue.
- Notably, the report comes after a Republican underperformance in a Wisconsin Supreme Court race that was seen as a referendum on Musk's role in the Trump administration.
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US: Trump To Announce $100B TSMC Investment
Mar-03 15:34
13:30 ET 18:30 GMT: US President Donald Trump is set to announce a USD$100 billion investment, over four years, by TSMC in the United States.
- The Wall Street Journal reports: "The investment would be used to build out cutting-edge chip-making facilities. Such an expansion would advance a long-pursued U.S. goal to regrow the domestic semiconductor industry after manufacturing fled largely to Asian countries in recent decades."
- The Taiwan-based company, the world's largest contract chip maker, agreed to build a semiconductor factory in Arizona in 2020. The deal, struck with the Biden administration, expanded into a pledge for a total investment of USD$65 billion.
- In November 2024, one of the final Biden administration awards from the USD$39 billion 2022 Chips and Science Act issued grants of up to USD$6 billion to TSMC to boost chip manufacturing in the US.
- Former President Joe Biden said, at the time, the agreement “demonstrates how we are ensuring that the progress made to date will continue to unfold in the coming years, benefiting communities all across the country,”
- Separately, the White House issued a statement touting "more big wins" for Trump, including a "$6 billion plan" from Honda to "expand its U.S.-based manufacturing" and "results" from border security initiatives.
