Latest news with #TrumpMuskPressConference
Reuters
30-05-2025
- Business
- Reuters
Watch Live: Trump and Musk press conference at the White House
What's happening? US President Donald Trump and Elon Musk press conference scheduled for 1:30 p.m. ET (1730 GMT) Musk left the Trump administration on Wednesday 130-day mandate in his role was set to expire around May 30 His 'DOGE' cost-cutting effort didn't deliver savings promised Musk says he'll cut back on political spending Musk criticized the price tag of Trump's budget bill Musk is asked about a New York Times story on drug use 2 minutes ago 14:18 EDT Susan Heavey "Let's move on" Musk said when asked about a New York Times report published Friday that he was using ketamine, Ecstasy and psychedelic mushrooms in the runup to the 2024 election. Trump gives Musk a key 6 minutes ago 14:14 EDT Musk, in all black, is wearing his black DOGE hat. Trump handed him a big key. "This is not the end of DOGE but really the beginning," Musk said, adding he will continue to advise Trump. 8 minutes ago 14:12 EDT Musk stands in the Oval Office to attend a press conference with U.S. President Donald Trump, at the White House in Washington, D.C., U.S., May 30, 2025. REUTERS/Nathan Howard Musk has been standing quietly as Trump speaks. Some social media users have pointed out that Musk appears to have a mark next to his right eye. "Elon is really not leaving. He's going to be back and forth. I think I have a feeling it's his baby, and I think he's going to be doing a lot of things. But Elon's service to America has been without comparison in modern history," Trump said. Trump praises Musk's cost-cutting 13 minutes ago 14:07 EDT Vanessa Balintec Trump has run though some of the cuts that Musk's DOGE made, claiming he saved "hundreds of millions of dollars." In four months, Musk has trimmed $19 billion, a recent Reuters analysis shows. Trump said: "He's one of the greatest business leaders and innovators the world has ever produced. He stepped forward to put his very great talents into the service of our nation, and we appreciate it. And, just want to say that Elon has worked tirelessly helping lead the most sweeping and consequential government reform program in generations." Trump said he's happy with court decision on tariffs 18 minutes ago 14:02 EDT Trump opened with a clip from CNBC that he posted earlier on Truth Social, than said that he was pleased with an appeals court decision that left his tariff decision in effect. Musk's chainsaw to government spending was more like a trim 25 minutes ago 13:55 EDT Elon Musk once famously wielded a chainsaw on stage in a theatrical demonstration of his effort to drastically cut U.S. federal spending. As he leaves government, official data shows he achieved something closer to a trim with scissors. In the four months since Musk's Department of Government Efficiency began slashing federal spending and staffing, a handful of the agencies he has targeted trimmed their combined spending by about $19 billion compared with the same period last year, according to U.S. Treasury Department summaries reviewed by Reuters. That is far below Musk's initial goal of $2 trillion in savings and amounts to about a half of 1% of total spending by the federal government. Musk said on Wednesday he is leaving the administration but that its cost-cutting work will "only strengthen over time." It remains to be seen, however, how enthusiastically Trump's cabinet secretaries will continue to downsize their departments. DOGE says it pulled the plug on more than 26,000 federal grants and contracts that are worth about $73 billion, while more than 260,000 government workers have been bought out, taken early retirement or been fired. But the DOGE tallies have been riddled with errors, according to reviews by numerous budget experts and media outlets, including Reuters. That has made them difficult to verify, and some of the announced cuts are not saving the government any money because judges have reversed or stalled them. Here's the full story by Brad Heath, Jason Lange, Andy Sullivan and Grant Smith. The rupture had been growing for some time... 31 minutes ago 13:50 EDT While Musk remains close to the president, his exit comes after a gradual, but steady slide in standing. After Trump's inauguration, the billionaire quickly emerged as a powerful force in Trump's orbit: hyper-visible, unapologetically brash and unfettered by traditional norms. At the Conservative Political Action Conference in February, he brandished a red metallic chainsaw to wild cheers. "This is the chainsaw for bureaucracy," he declared. On the campaign trail, Musk had said DOGE would be able to cut at least $2 trillion in federal spending. DOGE currently estimates its efforts have saved $175 billion so far, a number Reuters was not able to independently verify. But some cabinet members who initially embraced Musk's outsider energy grew wary of his tactics, sources said. Over time, they grew more confident pushing back against his job cuts, encouraged by Trump's reminder in early March that staffing decisions rested with department secretaries, not with Musk. Musk clashed with three of Trump's most senior cabinet members - Secretary of State Marco Rubio, Transportation Secretary Sean Duffy and Treasury Secretary Scott Bessent. He called Trump's trade adviser Peter Navarro a "moron" and "dumber than a sack of bricks." Navarro dismissed the insults, saying, "I've been called worse." At the same time, Musk began to hint that his time in government would come to a close, while expressing frustration at times that he could not more aggressively cut spending. More here, by Nandita Bose, David Shepardson and Gram Slattery. ... But the departure was quick and unceremonious 37 minutes ago 13:43 EDT FILE PHOTO: U.S. White House Deputy Chief of Staff Stephen Miller was among the Trump officials irked by Musk. REUTERS/Nathan Howard Musk's departure was quick and unceremonious. He did not have a formal conversation with Trump before announcing his exit, according to a source with knowledge of the matter, who added that his departure was decided "at a senior staff level." While the precise circumstances of his exit were not immediately clear, he leaves a day after criticizing Trump's marquee tax bill, calling it too expensive and a measure that would undermine his work with the U.S. DOGE Service. Some senior White House officials, including Deputy Chief of Staff Stephen Miller, were particularly irked by those comments, and the White House was forced to call Republican senators to reiterate Trump's support for the package, a source familiar with the matter said.
Telegraph
30-05-2025
- Business
- Telegraph
Trump says goodbye to Musk in Oval Office send off — watch live
Donald Trump and Elon Musk are set to hold a press conference to mark the Tesla billionaire's departure from the White House. The joint appearance in the Oval Office, scheduled to take place at 6.30pm UK time (1.30pm local time), comes after Mr Trump suggested Mr Musk will continue to have an influential role in his administration. 'This will be his last day, but not really, because he will, always, be with us, helping all the way,' the president posted on social media. Mr Musk, who poured more than $270 million (£200 million) into Mr Trump's re-election campaign, is stepping down from his role at the Department of Government Efficiency (Doge) as the 130-day limit for his 'special government employee' designation expires. The Tesla CEO's departure comes days after he criticised Mr Trump's fiscal policy, saying his 'big, beautiful bill' undermined the work he had been doing to slash federal waste. Announcing his departure this week, Mr Musk thanked Mr Trump for the 'opportunity to reduce wasteful spending' after he spearheaded cuts to reduce government spending by $150 billion (£111 billion). Hours before the meeting on Friday, the New York Times reported Mr Musk was alleged to have used a cocktail of drugs, including ketamine and magic mushrooms, on the Trump campaign trail.
