Trump’s Trade And Peace Talks, Musk’s DOGE Under Scrutiny, And Market Turmoil Predictions: This Week In Politics

The past week was filled with significant developments, from President Trump’s stance on China tariffs and Russia-Ukraine peace talks, to House Democrats raising concerns about Elon Musk’s DOGE. Additionally, the IRS saw a leadership change influenced by Musk, and Sen. Elizabeth Warren (D-Mass.) warned about potential market turmoil.

Let’s dive into the details.

Trump Hesitates on Escalating China Tariffs

President Donald Trump indicated his reluctance to increase tariffs on China, hinting at potential trade stagnation. He also suggested that Beijing has been making attempts to negotiate a deal. Trump refrained from giving direct answers about his personal communications with Chinese leader Xi Jinping, but emphasized his good relationship with Xi.

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Trump Administration Sets Ultimatum for Russia-Ukraine Peace Talks

President Trump and Secretary of State Marco Rubio have given a deadline for the ongoing Russia-Ukraine peace talks. They expressed their frustration over the lack of progress in the peace process and stated that the U.S. would abandon its efforts if significant progress is not made soon.

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Musk’s DOGE Under Fire

House Democrats have raised concerns about the Department of Government Efficiency (DOGE), alleging it is building a cross-agency master database that could compromise privacy and national security. Rep. Gerald Connolly (D-VA) has requested an investigation into DOGE.

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Trump Reverses Musk-Influenced IRS Interim Head Appointment

The Internal Revenue Service (IRS) is undergoing a leadership change after Treasury Secretary Scott Bessent raised concerns to President Trump about the appointment of the agency’s interim head. The appointment was influenced by Elon Musk and bypassed Bessent, who oversees the tax agency.

Read the full article here.

Warren Warns of Market Turmoil

Sen. Warren has warned about a potential stock market collapse if President Donald Trump decides to fire Federal Reserve Chair Jerome Powell. Her remarks were in response to Trump’s social media post expressing his impatience for Powell’s “termination.”

Read the full article here.

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This story was generated using Benzinga Neuro and edited by Rounak Jain