Translation : Gan Yung Chyan, KUCINTA SETIA
Reporter : Xia Yu / Editor : Ye Ziwei / https://www.epochtimes.com/b5/24/11/6/n14365887.htm / Image : On 5 October 2024, Tesla CEO Elon Musk and former US President and Republican presidential candidate Donald Trump attended a campaign rally at the site of the first assassination attempt in Butler, Pennsylvania and gave a speech. (Jim Watson/AFP)
After winning the US election on 5 November 2024, former President Trump will return to the White House in January next year. Trump's return to the White House could reshape American business, and much will depend on who he appoints as his deputies and cabinet members, including the closely watched role of Tesla CEO Elon Musk.
Trump formed a close partnership with Musk in the final stages of this campaign, and that partnership appears to be getting stronger as he officially returns to the White House.
Musk invested at least US$118 million of his own funds to form and fund America PAC. Musk said in a live broadcast on the X platform that "(PAC) will continue to operate after this election and prepare for the mid-term elections and any mid-term elections."
He said that in the House of Representatives, Senate and even some local elections, American political action committees "will strive to play an important role."
As Trump begins to shape his agenda and fill out his cabinet after winning the election, his relationship with Musk is sure to draw more attention. Musk's future role in the Trump administration and Tesla's prospects have also received much media attention.
Heading the Council on Government Effectiveness?
In September, Trump revealed in a public speech that he planned to establish a Government Efficiency Commission led by Musk. While he did not elaborate on how the committee would operate, in addition to saying that the committee would develop a plan to eliminate "fraud and improper payments" within six months of its formation, he also said that Musk has agreed to serve as the committee's chairman and person-in-charge.
Musk also said that at least $2 trillion can be cut from the $6.75 trillion federal budget. How to implement it may be an issue for the next Trump administration.
He said he had spoken with Trump about the matter and expressed his interest in serving on the committee.
Reuters reports that greater efficiency may mean fewer rules and regulatory agencies.
Trump and Musk do not see eye to eye on everything
However, Trump and Musk do not see eye to eye on all issues. Trump has said he will not let California require all vehicles in the state to be electric within a decade but Musk runs the world's most valuable electric car company.
Rivian and Tesla's former policy chief James Chen hope Musk can change some of Trump's views on electric vehicles.
How Musk will handle his conflicts of interest in automotive, aerospace, medical, construction and artificial intelligence is unclear.
Reuters reported that Musk is also a strong supporter of carbon-free energy, and Tesla is a major supplier of solar systems and batteries. Trump has pledged to shut down the offshore wind industry and revoke all unspent funds under the Inflation Reduction Act, Biden’s signature climate law.
During Trump's first term as president, a trade war broke out with Beijing and he imposed tariffs on hundreds of billions of dollars of goods from China. More than 40% of Tesla's deliveries come from the Chinese market. During Trump's second term, the prospects of Tesla's Shanghai factory are of concern.
In addition, regardless of whether Musk plays a formal or informal government role during Trump's second term, the last thing Tesla investors want to see is that Musk's time running Tesla is affected.
CNN reported that no matter who is elected, the relationship between SpaceX, another major company run by Musk, and the federal government will not be much different. SpaceX's main rival, Boeing, is experiencing technical problems with the spacecraft that transports astronauts to and from the International Space Station.
Musk’s election campaign
In the two decades since PayPal's initial public offering made Musk a major figure in the tech world, he has spent much of his time staying out of politics, instead talking about technological ventures such as colonizing Mars. Musk voted for Hillary Clinton in 2016 and Joe Biden in 2020. After the assassination attempt on Trump in Pennsylvania, Musk publicly pledged his support for Trump.
Since then, Musk has gone all out and become one of the most eye-catching people campaigning for Trump. The two began appearing together at a series of public events, and they conducted a two-hour live interview on the X platform.
Musk, wearing a dark version of Trump's iconic "Make America Great Again" hat, appeared with Trump at a campaign event in Butler, Pennsylvania, on 5 October 2024, and again in New York City on 27 October 2024 during a campaign event at Madison Square Garden.
In the final weeks of the campaign, Musk also hosted town hall meetings in battleground states and launched a $1 million bonus lottery for voters in swing states.
On election night, Musk went to Mar-a-Lago to spend time with Trump. As election results continued to come in, Musk took to Twitter to express his excitement about working with Trump to cut government spending. He posted a photo of himself in deep conversation with Trump and Ultimate Fighting Championship CEO Dana White, adding a fire emoji and four American flags. In another Photoshopped image, Musk is holding a sink in the Oval Office of the White House and wrote: "Let's immerse ourselves in it."
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