‘There's a chance Putin's overplaying his hand' : Amb. Richard Haass on the high-stakes phone calls to end the war in Ukraine
Richard Haass, President Emeritus of the Council on Foreign Relations, speaks with CNN's Wolf Blitzer about what he's expecting from President Trump's phone calls with Russia's Vladimir Putin and Ukrainian President Zelensky.
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USA Today
33 minutes ago
- USA Today
Republicans, be so for real. This embarrassing government is what you wanted?
Republicans, be so for real. This embarrassing government is what you wanted? | Opinion Is this really what Republicans still want? Are they so scared of trans people having rights or undocumented immigrants receiving due process they chose a government that won't stand up to tyranny? Show Caption Hide Caption Six takeaways from the President Donald Trump, Elon Musk feud From disappointment to threats, here are six takeaways from the public spat between President Donald Trump and Elon Musk. Anyone could have predicted that President Donald Trump's second term was going to be an absolute disaster. I doubt even Republicans realized it would be this bad. Amid Trump's feud with Elon Musk, our tanking economy and our dysfunctional Congress, it seems that the next three and a half years are going to be rough on the country. I have to imagine that some Republican voters have buyer's remorse but would never admit it. I also realize that, for many Republican voters, a chaotic government is better than one that's run by a Democrat. They would rather watch our country become an international laughingstock than vote for someone who would run a stable, albeit more liberal, government. They would rather have millions lose health care than have a Democrats in power. I'll be the first to admit that Kamala Harris wasn't a perfect presidential candidate, but she was competent. She was energetic. She could ensure the country stayed on its course and continued to be a place where people felt secure. We could have had that. And Republicans in Congress would have done their job. Instead, we have this. So, this far into Trump's chaotic reign, I have to ask. Is this really what Republicans wanted? President Donald Trump vs. Elon Musk. Really? In case you missed it, Trump and Musk have gone from inseparable to enemies in a matter of hours. Musk, who was previously charged with leading the Department of Government Efficiency, has gone on X (previously Twitter) to allege that Trump was included in the Jeffrey Epstein files and whine that the Republicans would have lost the election without him. Trump, in response, has threatened to cancel all of Musk's contracts with the federal government. It's almost entertaining, in the way high school drama is entertaining. If only the entire country weren't on the verge of suffering because of it. Opinion: Musk erupts, claims Trump is in the Epstein files. Who could've seen this coming? If Harris had been elected, I doubt she would have made a narcissistic man-child one of her closest advisers in the first place – not just because Musk endorsed Trump, but because he was and continues to be a liability. She wouldn't have created DOGE and then allowed it to be a threat to Americans. Republicans, however, were unwilling to acknowledge the baggage that came with having Musk on their side. Now we have the president of the United States embroiled in a childish social media battle with the world's richest man. Think about how stupid that makes the country look. Is this what Republicans wanted? Is that what they still want? Surely they knew that the Trump-Musk partnership, like many of Trump's alliances, was going to implode. They are so scared of progressivism that they would rather have pettiness and vindictiveness in the White House. The American economy is not doing well. You wanted this? Trump, ever the businessman, has decided that making everything more expensive is what will make our country great again. His tariffs are expected to cost the average family $4,000 this year, according to the U.S. Chamber of Commerce. I thought Republicans were the party of the working class. I thought they were supposed to care about grocery prices and the cost of living. But with the insanity of Trump's tariffs, a cooling job market and tax cuts that protect the wealthy, it seems like nothing is actually getting better for the average American. Our economy actually shrank. Opinion: Who would want to have babies under a Trump administration? Not me. Again, Republicans, you really wanted this? You were so scared of a government that was slightly more liberal that you would let everything get more expensive for working families? What were you afraid of – taxing billionaires? Helping first-time homebuyers? Harris' 'opportunity economy'? It seems like none of you thought this through. Or, worse, you did. The Republican Congress is a joke Another element of Trumpism is the fact that Republicans in Congress seem to be fine with the way he is completely dismantling the United States government. They don't care that his One Big Beautiful Bill Act is going to add to the deficit, so long as it's a Republican putting us further into debt. Some of them, like Rep. Marjorie Taylor Greene of Georgia, failed to even read the bill before voting for it. Their lack of interest is so substantial that she just admitted it openly. Opinion: Why can't Democrats take advantage of all this obvious Republican failure? If Harris had been elected, there would be no need for Congress to monitor her every move (even if they're failing to do that with Trump). Instead, we may have seen a legislature that, while divided, was able to function. We would have had checks and balances and likely significantly fewer executive orders, none of which would have tried to rewrite the U.S. Constitution. Once again – is this really what Republicans still want? Are they so scared of the possibility of trans people having rights or undocumented immigrants receiving due process that they would choose a government that won't stand up to tyranny? Would they really elect a tyrant in the first place? They did, so I suppose they must be OK with all of it. I can't get over the fact that Republicans willingly chose chaos over stability. They would rather say they won than have a functioning government or a stable economy. They would rather see our country suffer than admit that Trump is a raging lunatic. That isn't patriotism – it's partisanship. They would rather give Musk billions in federal contracts than help Americans in any way. This is what nearly half the country chose for the rest of us. And it doesn't seem like anyone is embarrassed about it. Follow USA TODAY columnist Sara Pequeño on X, formerly Twitter: @sara__pequeno
Yahoo
40 minutes ago
- Yahoo
Elon Musk's feud with Donald Trump is hugely damaging to Tesla but don't expect any action from the board
How should a corporate board respond to a CEO publicly insulting and shaming a sitting president? It's not a question that most need to consider, since few chief executives dare to directly criticize the White House. When CEOs do speak out against a federal directive, their messages are usually delivered behind closed doors, or in a collective open letter. But this week, Elon Musk changed all that and forced the issue in a prolonged public spat with Donald Trump. The pair had a much-anticipated falling out over Trump's budget, also referred to as the 'big beautiful bill,' on Thursday, which quickly got personal. Musk asked his social media followers if it was time to create a new political party, said that Trump's tariffs would cause a recession, and even claimed that Trump's name was in government documents about Jeffrey Epstein, the convicted sexual offender. 'That is the real reason they have not been made public,' Musk wrote. The feud has already been costly for Musk and his many businesses, including Tesla. The automaker's shares took a tumble as the back-and-forth took over the news cycle, dropping 14% in on Thursday, and costing shareholders $150 billion. Now analysts warn that feuding with Trump could cost Tesla billions, considering that Trump could repeal electric vehicle tax credits and other measures that have boosted Tesla's earnings. The company could also face increasing regulatory obstacles around its autonomous driving vehicles, the technology that is meant to drive Tesla's future and has been cited by stock watchers as a reason for the stock's sustained eye-popping performance. Tesla bull and Wedbush analyst Dan Ives seemed to speak for investors early on Friday when he wrote in a research note: 'This needs to calm down.' At a regular company, there's a solid chance that the events of the last few days would spur a board to dismiss a CEO. But will the Tesla board fire Musk to protect public shareholders from potential damages? 'They should,' Charles Elson, founding director of the Weinberg Center for Corporate Governance at the University of Delaware, told Fortune. 'But they won't.' The Trump-Musk spat is just the latest in a series of events that have forced the question of what role Tesla's board actually plays in the company. 'Over the years, Musk's behavior has become more outrageous,' says Elson. 'The board's lack of response makes you wonder, 'Who are these people? Why are they there?'' It has long faced criticisms for being too close to Musk, and therefore willing to overlook numerous management issues. For instance, it famously approved Musk's much-disputed 2018 pay package for $56 billion, and has silently witnessed a year of high-profile divisive behavior from the chief executive that has led to public protests and customers distancing themselves from the company. And recent allegations about Musk's drug use echo reports that have surfaced in the past without putting Musk's role at risk. There are a few contributing factors as to why that is. Musk is a controlling shareholder in Tesla, where he holds 22% of the voting power, making it extra challenging for board members to have the votes needed to force him out. The board is also in a tough position in that firing Musk could tank the stock, considering that his name is so closely associated with the company. Many directors also have particularly close ties to Musk. That includes his brother Kimbal Musk, an entrepreneur and restaurant owner, and Joe Gebbia, a cofounder of Airbnb and a friend of Musk's. There are no car industry or green energy CEOs in the group, as one might expect at a typical EV company. The directors are also paid very well. This year, a Delaware court ordered the board to give back more than $900 billion in pay after finding it had paid itself too handsomely. Robyn Denholm, Tesla board chair since 2018, earned $600 million, far more than people with the same position at other companies. The court found 'the compensation was so significant, it made it really almost impossible for them to be independent directors,' says Elson. 'It is difficult to get a man to understand something when his salary depends on his not understanding it,' says Nell Minow, a corporate governance expert, quoting Upton Sinclair. 'That's this board.' To be sure, this year, there were signs earlier this year that Tesla's directors were taking more control over the company's governance. Last month, the Wall Street Journal reported last month that the board had begun looking for a successor and selected a search firm to assist them. It also reported that the board had met with Trump weeks before he announced he would be spending less time at the White House. It seemed that between the backlash against Tesla provoked by Musk's focus on Washington, and Tesla's shrinking share price, finally pushed the board to act. But the board denied the report outright, with Denholm calling it 'absolutely false.' Even considering his own predilection for conflict, Elon Musk's latest squabble is in a category of its own. But board experts agree that to expect action from the Tesla board is misguided. 'There have been so many 'Now the board has to do something moments,' and they have failed every time,' says Minow. 'I no longer feel that there is such a thing as 'Now they have to do something.'' There are technically ways that shareholders could move the needle if they wanted Musk out. They could vote directors off the board via shareholder proxy votes, and hope that new directors would fire Musk. Or they could try to sue the board for not kicking Musk to the curb when he put the brand at risk and split his focus between Washington and Tesla. But a shareholder who wanted to do that would need to own up to a 3% stake in the company, points out Ann Lipton, associate dean for faculty research at Tulane University's Law School, and governance laws make it all but impossible to do. 'No shareholder is going to be able to show that this board is acting in bad faith by failing to replace Musk as CEO, which is really the level that they'd have to show,' she said. It's still theoretically possible that a Tesla board director could try to bring about change by suggesting Musk go. But they would have to make peace with potentially losing their roles, says Elson. 'They would say, 'Look, I will vote to move him along. And if I lose, I leave. I can't do this anymore,'' says Elson. Whether they'll do that depends on whether they're people of principle, he added, or 'people of convenience.''We'll have to see,' he said. 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Yahoo
an hour ago
- Yahoo
In Musk v Trump, the markets will win
City AM columnist Rainer Zitelmann has been predicting a rift between Musk and Trump ever since the two started working together. Now that this has happened, the French daily newspaper L'Express has spoken to him again. The interview was conducted by Thomas Mahler. 'I never believed that the alliance between Elon Musk and Donald Trump would last,' you told L'Express in April. Why were you so certain that the alliance between the two men would fall apart so quickly? I have read every single biography about these two men and have been following their exploits closely for many years. Trump only tolerates people who completely subordinate themselves to him, whereas Musk won't bow to anyone. And especially not to someone he is so superior to both in terms of intelligence and as an entrepreneur. This is something I have stated on numerous occasions, including in an interview with L'Express in April. On top of that, Trump is not an advocate of economic freedom, his only two convictions are these: he is the greatest and should be all-powerful, and that tariffs are amazing. Trump thinks that tariff is the most beautiful word in the dictionary (which, by the way, is just as absurd as saying that taxes are the most wonderful word in the dictionary). Musk, in contrast, is in many ways a libertarian – he hates high taxes, tariffs, and excessive federal spending that ramp up U.S. debt. Tesla shares fell again after Musk's criticism of Trump's tax bill, and Trump threatened to cut public funding for SpaceX. As an entrepreneur, did Musk lose a lot with his political adventure? That may be the case – but no one can say for sure just yet. I admire Musk, he is driven by deep personal convictions and has consistently taken huge risks throughout his career. So far, those risks have always paid off. Whether Musk will prevail against Trump is debatable, because while Musk is a far superior entrepreneur, Trump outguns Musk in the field of political communication. If Musk were as politically desperate as Trump, he would go to China, which would quickly become the most successful nation in space exploration. If the European Union was not so stupid, it would offer Musk the opportunity to bring SpaceX to Europe on excellent terms. What would be the consequences for the US if they lose SpaceX? Without SpaceX, the US does not currently have much to offer. Prior to SpaceX, they couldn't even transport their own astronauts to the International Space Station and had to rely on outdated Russian rockets – and paid exorbitant prices to do so. In 2024, there were 134 SpaceX launches out of 261 space missions worldwide. If SpaceX were a country, it would easily surpass the second-largest, China, which had 68 launches. Notably, SpaceX is responsible for 86% of all U.S. launches and has delivered more than 80% of the world's total payload weight into orbit and beyond. Incidentally, there were just three launches in Europe. According to you, was Musk right to call Trump's funding bill a 'disgusting abomination'? Absolutely. Not because of the tax cuts – they're the right thing to do! But because Trump has thrown his weight behind a budget that dramatically exacerbates the national debt. Trump's funding bill is a continuation of the insane debt-fueled policies of Obama, Biden, and Trump's first term in office. Consequently, the US is spending more and more on interest payments. Musk must be deeply frustrated: he's neglected his companies for months to help the US government do something it is completely incapable of – namely, reducing the national debt, even just slightly, through the DOGE initiative. And then Trump turns around and backs legislation that does the exact opposite, massively expanding an already astronomical debt mountain. Does this mean that Trump will go even further in his obsessions for protectionism or immigration? Did the MAGA movement and Steve Bannon win the fight inside the Republican camp? It's too early to tell. But if Bannon did come out on top, it would be a disaster for the United States. Musk believes in political and economic freedom. Bannon, at heart, is a right-wing anti-capitalist. Are you worried about the US economy? Absolutely. Trump has promised the American people that his protectionist policies will bring about a new 'Golden Age.' That's complete nonsense. No country has ever become wealthy through protectionism – but many have become poor because of it. A hundred years ago, Argentina was as rich as the U.S., and then, over decades, Peronists drove it into poverty with their protectionist policies. My only hope lies in the capital markets – the stock and bond markets. If anyone can force Trump to change course, it will be the financial markets. I hope the markets prove to be stronger than Trump. Dr Rainer Zitelmann is a German historian, sociologist and author. His latest book is 'The Origins of Poverty and Wealth' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
