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      Trump meets with Biden and promises ‘smooth as it can get’ transfer of power

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      Donald Trump met with Joe Biden on Wednesday and promised a transfer of power that is “as smooth as it can get”, as the outgoing US president pledged his administration’s every possible resource to pave the way for his successor.The two men, longtime political rivals who must now work together again to pass the reins of power, shook hands as they met in the Oval Office. Introducing Trump as both a former president and now president-elect, Biden congratulated him on his victory.“We’re looking forward to having, like we said, a smooth transition. We’ll do everything we can to make sure you’re accommodated, what you need and we’re going to get a chance to talk about some of that today,” Biden said. “Welcome back.”Despite Trump’s many excoriating comments toward Biden over the years, he thanked the president for the warm reception he received at the White House.“Politics is tough, and it’s, in many cases, not a very nice world, but it is a nice world today, and I appreciate very much a transition that’s so smooth. It’ll be as smooth as it can get. And I very much appreciate that, Joe,” Trump said.Reporters attempted to shout questions at Biden and Trump, but both men ignored the queries. The meeting continued for roughly two hours after journalists were escorted out of the Oval Office.The White House press secretary, Karine Jean-Pierre, offered few specifics about the meeting, but she noted that Biden described Trump as “gracious” and prepared with “a detailed set of questions”.“It was indeed very cordial, very gracious and substantive,” Jean-Pierre said. “National security was discussed. Domestic policy issues were discussed.”Before meeting with Biden, Trump addressed House Republicans on Capitol Hill, celebrating his party’s victories up and down the ballot last week while suggesting he might seek a third term as president.“I suspect I won’t be running again, unless you say, ‘He’s good, we got to figure something else,’” Trump said, sparking laughter from fellow Republicans in the room.Trump has repeatedly floated the idea of extending his tenure, even though the US constitution bars presidents from serving a third term.Introducing Trump on Wednesday, the Republican speaker of the House, Mike Johnson, praised the president-elect as a “singular figure in American history”.“They used to call Bill Clinton the comeback kid. [Trump] is the comeback king,” Johnson said.Elon Musk joined Trump at the meeting with House Republicans, sitting in the first row, according to attenders. On Tuesday, Trump named Musk and the former presidential candidate Vivek Ramaswamy as co-leaders of a new Department of Government Efficiency. The announcement intensified concerns over how Trump and Musk, known for his slash-and-burn approach to cutting company expenses, might overhaul the federal workforce. Also on Tuesday, Trump named Pete Hegseth, a veteran and Fox News host with no political experience, to lead the Department of Defense.Trump continued his series of cabinet announcements on Wednesday with the news that Marco Rubio, a Republican senator of Florida, would be nominated as secretary of state. He also named Tulsi Gabbard, a former Democratic congresswoman, as director of national intelligence and Matt Gaetz, a Republican congressman of Florida, as attorney general. All three nominations are subject to Senate approval, and Gabbard and Gaetz specifically may face numerous hurdles to confirmation.As of Wednesday, Republicans had already won a majority in the Senate, but the House remained up for grabs as ballot-counting continued in 12 uncalled races. However, House Republicans appear poised to capture a narrow majority.Trump has already tapped at least three House Republicans for senior roles in his administration. In addition to Gaetz, Elise Stefanik will be nominated as ambassador to the United Nations and Mike Waltz, a Florida representative, will serve as his national security adviser. Republicans currently hold a razor-thin four-seat majority in the House, and if the outcome of vote counts remains as it stands today, a Republican speaker in 2025 would also have a four-seat majority.Johnson has said he expects Republicans to end up with a larger majority. But each Republican appointment or resignation from the House – as Governor-elect Kelly Armstrong of North Dakota must do – diminishes that majority.“We have an embarrassment of riches,” Johnson said on Tuesday. “We have a really talented Republican conference. We’ve got really competent, capable people here. Many of them could serve in really important positions in the new administration, but President Trump fully understands and appreciates the math here, and it’s just a numbers game.”The meeting between Biden and Trump on Wednesday reflected a return to a traditional transfer of power, after the custom was somewhat abandoned in 2020. Underscoring the acrimony of the 2020 election, Trump eschewed the meeting after being defeated by Biden.Melania Trump was also invited to meet with the first lady, Jill Biden, but she declined the invitation. According to the White House, the first lady offered Trump’s team “a handwritten letter of congratulations for Mrs Trump, which also expressed her team’s readiness to assist with the transition”. More

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      Trump picks far-right congressman Matt Gaetz as attorney general

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      Donald Trump said he will nominate Florida congressman Matt Gaetz to be the US attorney general on Wednesday, tapping a far-right loyalist to one of the most powerful positions in US government.Gaetz’s nomination is one of the most significant to date. As attorney general, he would be the country’s chief law enforcement officer and oversee the legal positions that the government takes on key issues, including abortion, civil rights laws, and first amendment issues. The president-elect has pledged to use the justice department to prosecute his political enemies and there is little doubt that Gaetz will help him fulfill that pledge.First elected to Congress in 2016, Gaetz represents a ruby-red district in the Florida panhandle and has become known as one of Congress’s most showboating members. He reportedly sought a pardon from Trump over his efforts to overturn the election, and has embraced conspiracy theories about the attack on the US Capitol. Last year, he led a successful effort to oust fellow Republican Kevin McCarthy from the speakership, throwing his caucus into chaos.Gaetz’s nomination comes a little over a year after the justice department decided not to charge him as part of a sex trafficking investigation that involved allegations he had sex with a 17-year-old girl. Joel Greenberg, a former friend and ally, pleaded guilty to sex trafficking and was sentenced to 11 years in prison. Gaetz has denied the allegations.He also faces investigation from the House ethics committee over allegations that he “engaged in sexual misconduct and illicit drug use, accepted improper gifts, dispensed special privileges and favors to individuals with whom he had a personal relationship, and sought to obstruct government investigations of his conduct.” He has denied all wrondoing.Meanwhile, Trump heaped praise on Gaetz.“Matt is a deeply gifted and tenacious attorney, trained at the William & Mary College of Law, who has distinguished himself in Congress through his focus on achieving desperately needed reform at the Department of Justice,” Trump said in a statement posted to his Truth Social media account.He added: “Few issues in America are more important than ending the partisan Weaponization of our Justice System. Matt will end Weaponized Government, protect our Borders, dismantle Criminal Organizations and restore Americans’ badly-shattered Faith and Confidence in the Justice Department.”The nomination was immediately met with widespread criticism.“This guy has been on the run from the law for quite some time now, so he’ll think he’s above it. He’ll be corrupt as hell,” said Olivia Troye, a former official in the Department of Homeland Security during the Trump administration who has become an outspoken critic of the former president.Robert Weissman, the co-president of the watchdog group Public Citizen said it was “hard to imagine a worse and more unqualified candidate” than Gaetz.“As a member of Congress, Gaetz has demonstrated contempt for the rule of law, truth and decency. He is singularly unqualified to lead an agency that enforces civil rights laws and environmental protection statutes. Under Gaetz, we’d have every reason to expect an America where corporate criminals walk free but immigrants and people of color are harassed or rounded up with minimal pretext,” he said in a statement.In January, Republicans will take control of the US Senate, which will vote on Gaetz’s confirmation. They appear headed towards holding at least 53 seats, which would give them enough votes to confirm the Florida congressman, even if a few Republican senators vote against him.Gaetz also has a history of making derogatory and offensive remarks towards women. “Why is it that the women with the least likelihood of getting pregnant are the ones most worried about having abortions? Nobody wants to impregnate you if you look like a thumb,” he said in 2022.As a Florida lawmaker before he was in Congress, he opposed a revenge porn law, reportedly telling the bill’s sponsor that ex-lovers could do what they pleased with images their partners had shared with them.“Are you not entertained?” said CNN political analyst and Trump ally Scott Jennings in the wake of the news.Andrew Gumbel contributed reporting More

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      Is Donald Trump a foreign policy dove? If only | Mehdi Hasan

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      “If Kamala wins, only death and destruction await because she is the candidate of endless wars,” declaimed Donald Trump at a rally in Michigan, on the Friday before the election. “I am the candidate of peace.” In a typically ridiculous rhetorical flourish, Trump added: “I am peace.”Nevertheless, despite the ridiculousness, the president-elect in recent weeks succeeded in connecting with plenty of of anti-war voters tired of the United States’ “forever wars”. He went to Dearborn, the “capital” of Arab America, attacked Kamala Harris for campaigning with the pro-war Cheneys, and came away with an endorsement from a local imam who called him the “peace” candidate.In fact, I have lost count of the number of leftists who have told me in recent months: “Trump didn’t start any new wars.” Sorry, what? Trump spent his four years in the White House escalating every single conflict that he inherited from Barack Obama. Many have forgotten that Trump bombed the Assad government in Syria twice; dropped the “mother of all bombs” on Afghanistan; illegally assassinated Iranian general Qasem Soleimani on Iraqi soil; armed Saudi Arabia’s genocide in Yemen; and made John Bolton his national security adviser. Few are even aware that Trump launched more drone strikes in his first two years in office than Obama, dubbed “the drone president”, did across eight years in office.But this time, we were told, it would be different. This time Trump meant it. No more war! No more neocons! Some took heart from Trump’s very public rejection of arch-hawks Mike Pompeo and Nikki Haley. Others signal-boosted efforts by RFK Jr, Don Jr and Tucker Carlson to block neoconservative figures from joining the new Trump-Vance administration. “I’m on it,” bragged Trump’s eldest failson.It was all for naught. “I am peace”? Really? Consider who Trump now plans to nominate as his secretary of state: Marco Rubio. The Florida senator was once an outspoken critic of the president-elect, calling him a “con man”, “the most vulgar person to ever aspire to the presidency”, and questioning the size of his manhood. Fast forward almost a decade and Rubio has happily bent the knee to Trump in order to become fourth in line for the presidency and to take charge of US diplomacy.The slight problem is that Rubio isn’t a fan of diplomacy; he’s a fan of war. An ardent hawk, Rubio defended the invasion of Iraq during his first Senate run in 2010. He has since backed regime change everywhere from Cuba to Venezuela to Iran to Syria. In 2019 he voted to oppose withdrawing US forces from both Syria and Afghanistan. Over the past year, he has been one of the strongest supporters in Congress of Benjamin Netanyahu’s assault on Gaza, dismissing widespread Palestinian civilian casualties as the fault only of Hamas, and saying that Israel cannot coexist “with these savages … They have to be eradicated.”“I am peace”? At Rubio’s side, running the Trump transition team at the state department, is Brian Hook, a long-standing Iran hawk and co-founder of the John Hay Initiative, an anti-isolationist Republican group. He was the architect of the “maximum pressure” campaign against Iran during Trump’s first term. And, as I revealed for the Intercept in 2018, Hook was in charge of the the state department’s policy planning staff when one of its internal memos called for an “Islamic reformation”.“I am peace”? Trump wants Elise Stefanik to be the new US ambassador to the United Nations. The New York congresswoman is perhaps best known for being a Trump sycophant par excellence but she is also a long-standing Republican hawk whose first job out of college was working in the Bush White House. She later went on to be employed by two of the most hawkish thinktanks in Washington DC, the Foundation for the Defense of Democracies (FDD) and the Foreign Policy Initiative (FPI). The FDD is obsessed (obsessed!) with regime change in Iran, while the FPI, which was co-founded by neocons Bill Kristol and Robert Kagan and closed down in 2017, loudly pushed for an expansion of the war in Afghanistan.Stefanik is also a blind supporter of Israel’s war on Gaza, backs an uninterrupted supply of US weapons to the Netanyahu government, and has slammed Joe Biden for being too tough on the Jewish state. In May, she gave an address to the Knesset in which she called for a “total victory” against Hamas.skip past newsletter promotionafter newsletter promotion“I am peace”? Trump is appointing Florida congressman Mike Waltz as his national security adviser. Waltz, a former Green Beret, is perhaps the leading China hawk in Congress. Like Stefanik, Waltz is also an alumnus of the Bush administration and an enthusiast for the “war on terror”. As late as 2017, he was still calling for a “multi-generational war” against terrorism and suggesting the US should be ready for “a lot more fighting” in Afghanistan. That sound dovish to you? In fact, here’s the best (worst?) part: he served as counterterrorism adviser to the most hawkish vice-president in US history, the prince of darkness himself: Richard B Cheney. Got that? Trump spent the last few weeks of his presidential campaign attacking Dick and Liz Cheney, suggesting the latter should be forced to face “nine barrels” on the battlefield, and then just days after winning the election tapped the elder Cheney’s former counterterrorism adviser to be his own national security adviser. File it under: You. Cannot. Make. This. Stuff. Up.“I am peace”? Trump is sending former Arkansas governor Mike Huckabee to Israel as his ambassador. Huckabee is a Christian evangelical so extreme that he believes there is “no such thing as a West Bank” and “no such thing as an occupation”. He compared Barack Obama’s Iran nuclear deal to the Nazi Holocaust and was such a proud supporter of the Iraq war that he even criticized George W Bush for setting a timetable for withdrawal!“I am peace”? Trump’s pick for defense secretary is Fox host Peter Hegseth, a veteran of the wars in Iraq and Afghanistan. Dubbed “Trump’s war whisperer”, Hegseth called for the US to disregard the “rigged” rules of war in order to attack Iranian religious and cultural sites in 2020, and also helped persuade Trump to pardon three soldiers accused or convicted of war crimes in 2019. How do you get more hawkish than a supporter of a literal war criminal?In Washington DC, as the saying goes, personnel is policy. Trump is surrounding himself with hawks so you can be assured that his will be a very hawkish administration. Again.But this is the Trump playbook: run as a dove, govern as a hawk. It’s what he did in 2016 and again this year. Attack neocons; get elected; hire neocons.So “Donald the dove”, as Maureen Dowd of the New York Times once put it? If only. Whether it is on domestic policy or foreign policy, Trump remains a conman. Don’t take my word for it. Take his new secretary of state’s.

      Mehdi Hasan is the CEO and editor-in-chief of the new media company Zeteo More

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      ‘Your body, my choice’: what misogynistic Trump supporters feel about sexual power | Moira Donegan

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      You can’t say it was a fluke. If in 2016, Donald Trump’s novelty, combined with his loss of the popular vote, allowed liberals to retain a bit of plausible deniability about what his presidential win meant about America, this time, there is no such comfort. Donald Trump is no longer a mystery or an amusing diversion: no one can claim that they do not understand full extent of his malignant corruption, or the seriousness of his movement’s hostility to pluralist democracy. And he won the popular vote.Many postmortems of last week’s election have tried to preserve the notion that Trump’s voter’s did not endorse him and his vision – that they know not what they do. This is dishonest, and a bit patronizing toward Trump’s supporters. Trump’s voters, for the most part, know exactly what he is, and what voting for him means. They are not ignorant or mistaken about him. They endorse him and what he is.A large part of what a majority of Americans voted for last week was the Trump campaign’s virulent misogyny. Trump himself, an adjudicated rapist who has bragged about both committing sexual assault and engineering the reversal of Roe v Wade, speaks of women in vulgar, degrading terms. He picked a running mate who has denigrated childless women as “psychotic” “cat ladies”. His adviser and funder Elon Musk, who seems to have designs on becoming something of a shadow president in Trump’s second term, is a techno-fascist pro-natalist who goes around offering women insemination.The Trump campaign positioned itself as a champion of a hierarchical gender order, aiming to restore men to a place of wrongfully deprived supremacy over women. Many of his voters cast their lot in with Trump hoping that he would do just that.Now, in the wake of Trump’s victory, some of his supporters have adopted a slogan which neatly joins the movement’s twin projects of forced sex and forced pregnancy: “Your body, my choice.”“Your body, my choice,” was coined by the far-right, pro-Nazi internet troll and Trump dinner guest Nick Fuentes on the night of the election. “Your body, my choice,” Fuentes tweeted. “Forever.” It’s a taunting inversion of the pro-choice slogan “my body, my choice”, meant to assert women’s autonomy: instead, “your body, my choice” presents women’s full citizenship and freedom as laughable, asserting, in gleeful terms, the male supremacy that will now carry for the force of policy and law under a new Trump administration.In response to Fuentes’s post, pro-Trump men have adopted the slogan en masse to troll women online. An analysis from the Institute for Strategic Dialogue found that the use of the phrase soared on social media in the days following the election, along with similar misogynist phrases like “get back in the kitchen”, and the use of sexist slurs directed at liberal and progressive women like Kamala Harris and Rachel Maddow. Female TikTok users reported a flood of such comments, with “your body, my choice” chief among them on the platform. And young girls in schools, along with their teachers and parents, reported incidents of the phrase being yelled out by boys in taunting jeers of harassment and intimidation in the days following the election.“Your body, my choice” is a rejection of women’s rights to control their own bodies in more ways than one. In addition to the phrase’s sneering inversion of a pro-choice phrase, rejecting the abortion right and claiming the overturn of Roe as a victory for men, the phrase has a second, dual meaning: as a rape threat. The men and boys who use it are not merely taunting women with the threat of an unwanted, forced pregnancy. They are taunting them with the threat of forced sex.It is not always a connection that the misogynist right has made so explicit. In other eras, the anti-choice movement has adopted an overtly religious attitude of sexual repression, aiming to restrict abortion as a means of restricting sexuality across the board. But this preacherly, sexually repressed masculinity is not the masculinity of today’s misogynist rightwing movement. Rather, the Maga right is one that sees sex not as something that must be rendered shameful and pushed out of the public sphere, but as a weapon that can be used to punish, humiliate and dominate women.This new, avowedly and vulgarly sexual rightwing masculinity is what Fuentes was crystalizing in his snide little coinage of “your body, my choice”: it is one that aims to use physical and sexual force to coerce women into a degraded gendered role, one subject to men’s domination and only partial, limited and conditional in its citizenship and access to the public sphere. In this sense, their projects in joyfully celebrating rape and restricting women’s access to abortion are two sides of the same coin: the right seeks to dominate women and to commandeer the inside of their bodies so as to force them into a gendered role against their will, be that role as sex object or as mother.skip past newsletter promotionafter newsletter promotionThis is why it is fitting that Trump, who was found liable for the rape of one woman and accused of sexual assault by two dozen others, was the president to secure the overturning of Roe v Wade; it is why it is fitting that two of the justices who voted to overturn Roe, Clarence Thomas and Brett Kavanaugh, have been credibly accused of sexual misconduct, each by more than one woman. It is because the sex politics of the right is not an anti-sex, puritanical politics. It is a politics of sexual domination.There is no use pretending that this is not what the Trump movement is. And there is no use in pretending that this is not what many of the men who voted for Trump hoped to achieve when they supported him. Much of the pre-election coverage of the gender dynamics of Trump’s campaign has disappeared in the days following the election, and perhaps this unpleasant reality is why: most Americans voted for a man they have every reason to believe is a rapist. For some of them, at least, that was not a liability, but an asset.

      Moira Donegan is a Guardian US columnist More

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      Americans are desperately Googling how to ‘move to Europe’. We should welcome them | Alexander Hurst

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      I am resisting the temptation to write a lamentation of anger and sorrow about Trump’s second victory. What is more useful is to think about what Europe can do to protect its environment, its people and its economy in a world where the Trump administration may act, in many ways, to undermine and even destroy it.The EU’s first bold move to lead by example in the new Trump era should be to seize 200bn euros’ worth of frozen Russian central bank assets and transfer them to Ukraine as a form of pre-emptive reparations. The European Parliamentary Research Service and outside experts have proposed ways in which it could be done in full accordance with international law. But this alone won’t obviate the need for the EU to borrow more to boost its common defence and green infrastructure spending, even though it will increase its debt.Part of the money raised should be earmarked for the European Space Agency to develop a crewed vehicle that can guarantee European astronauts independent access to orbit and beyond without having to turn to Elon Musk and SpaceX (or other US-based companies). Other spending might be used to boost research in ways that help Europe’s economy rebound and stay competitive.But the real step the EU can take towards protecting its economy (and with it, its citizens’ wellbeing, optimism and faith in democracy) involves things that are less sexy than building a spaceship, such as finishing the capital markets union that could enable more European tech start-ups to borrow money. The EU has spent the better part of a decade wringing its hands over the absence of European substantial tech companies compared with the US and China. A big reason for this is that it’s simply easier to raise funds in the US because private and public pension funds allocate a greater part of their investments towards venture capital than European pension funds do.As the former Italian prime minister Enrico Letta said on French radiorecently, each year European savers send about €300bn to US stock markets, primarily because that’s where their banks focus their activities. This money helps boosts the valuation of US companies, which can result in them being able to finance buying out European firms. Europe already exports tech-startup founders to the US rather than keeping them at home – which, according to a US-based French investor – has resulted in French tech in the US being worth far more than French tech in France. For instance, Snowcloud and Datadog, both founded by French entrepreneurs in the US, are many times more valuable than France’s largest unicorns or biggest recent stock market flotation. A situation where the continent is exporting founders, their startups, and the capital that is funding them makes absolutely no sense. This matters because, as Stanford academic and author Mariejte Schaake argues in the FT, we need European tech to embody democratic values. On that front, the EU should feel vindicated that its attempt to regulate disinformation on social media is the correct strategy. Democracy is untenable when voters are subjected to algorithms weaponised to constrict their worldview and flood them with disinformation. In Musk’s hands, X is an extraordinarily dangerous tool for election engineering. Europe was already on the verge of fining X 6% of its global revenue (and potentially including Tesla and SpaceX in its calculation). Musk, who spent at least $130m to help elect Trump, is already seeing the return on his investment, with vice president-elect JD Vance suggesting the US might withdraw from Nato if the EU takes action against him. Whether through enforcement, some new type of regulatory agency or a future ban on X, this is not a fight the EU can back away from because the existence of European democracy itself is at stake. The EU can also do something unexpected. Trump has made no secret of his desire for vengeance and retribution against his enemies: tens of thousands of civil servants ; universities, professors and students. He has fantasised and encouraged violence against journalists, protesters, judges, immigrants and political opponents, and has promised to set the justice department and even the military on them. It bears repeating: a second Trump administration will not have the guardrails of the first, where Mike Milley and Mike Esper ignored orders to “just shoot” antiracism protesters.American dissidents abroad might one day be targeted as well. The EU should announce a principle of non-compliance with any US attempt to extradite or harass US citizens being targeted for political reasons or for civil disobedience – such as engaging in tax resistance against a Trump administration, as some Americans did in small numbers during his first time in office and which has its roots in opposition to the Vietnam war. Finally, Europe has an opportunity to invert the transatlantic brain drain. This time really is different and Americans know it: searches for “move to Europe,” or for individual European countries are on a totally different scale than ever before. There is a unique chance for Europe to roll out a red carpet of special visas and ease the path for highly educated Americans who want to flee Trumpmerica (like climate scientists sure to have their funding slashed). Or perhaps to partner with US universities that might eventually seek to establish satellite campuses for students and staff who can no longer be located in the US.Underlying all Europe’s failures to solve its collective action problems is the same phenomenon – sometimes it thinks and acts like a continent but too often actually behaves like a group of small, fragmented nations. In 2003, the German philosopher Jürgen Habermas proposed that Europe might surpass this tendency by constructing European identity in opposition to theUS. Two decades later, he may inadvertently get his wish.

      Alexander Hurst is a Guardian Europe columnist More

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      Trump selects Elon Musk to lead government efficiency department

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      Elon Musk and former Republican presidential candidate Vivek Ramaswamy will lead the newly created Department of Government Efficiency, Donald Trump said on Tuesday.Despite the name, the department will not be a government agency. Trump said in a statement that Musk and Ramaswamy will work from outside government to offer the White House “advice and guidance” and will partner with the Office of Management and Budget to “drive large scale structural reform, and create an entrepreneurial approach to government never seen before.” He added that the move would shock government systems.Trump said the duo “will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies”.Posting on X, the social media platform he owns, Musk pledged to document all actions of the department online for “maximum transparency”.“Anytime the public thinks we are cutting something important or not cutting something wasteful, just let us know!” he said, while also promise to keep “a leaderboard for most insanely dumb spending of your tax dollars”.Ramaswamy also responded to the announcement of his appointment on X. “We will not go gently, @elonmusk”, he said, adding an American flag emoji.It is not clear how the organization will operate. It could come under the Federal Advisory Committee Act, which dictates how external groups that advise the government must operate and be accountable to the public.Federal employees are generally required to disclose their assets and entanglements to ward off any potential conflicts of interest, and to divest significant holdings relating to their work. Because Musk and Ramaswamy would not be formal federal workers, they would not face those requirements or ethical limitations.Musk had pushed for a government efficiency department and has since relentlessly promoted it, emphasizing the acronym for the agency: Doge, a reference to a meme of an expressive Shiba Inu and the name of the cryptocurrency Dogecoin, which Musk promotes. Trump said the agency will be conducting a “complete financial and performance audit of the entire federal government, and making recommendations for drastic reforms”.The value of dogecoin has more than doubled since election day, tracking a surge in cryptocurrency markets on expectations of a softer regulatory ride under a Trump administration. Shares in Tesla are up about 30% since the election.Trump said their work would conclude by 4 July 2026, adding that a smaller and more efficient government would be a “gift” to the country on the 250th anniversary of the signing of the Declaration of Independence.Ramaswamy is a wealthy biotech entrepreneur whose first time running for office was for the Republican party nomination last year. After dropping out of the race, he threw his support behind Trump. He told ABC earlier this week that he was having “high-impact discussions” about possible roles in Trump’s cabinet.He also has no government experience, but has pushed for cost-cutting in the corporate sector. After building a stake in the struggling online media firm Buzzfeed, he urged the company in May to cut staff and hire conservative commentators like Tucker Carlson.Musk, speaking to reporters last month, stated a goal of reducing government spending by $2tn. Practically speaking, experts say those cost cuts could result in deregulation and policy changes that would directly impact Musk’s universe of companies, particularly Tesla, SpaceX, X and Neuralink.Adding a government portfolio to Musk’s plate could benefit the market value of his companies and favored businesses such as artificial intelligence and cryptocurrency.Equities analyst Daniel Ives of Wedbush Securities said in a research note: “It’s clear that Musk will have a massive role in the Trump White House with his increasing reach clearly across many federal agencies.”But Musk’s appointment was criticized by Public Citizen, a progressive consumer rights NGO that challenged several of Trump’s first-term policies. “Musk not only knows nothing about government efficiency and regulation, his own businesses have regularly run afoul of the very rules he will be in position to attack,” co-president Lisa Gilbert said in a statement.Trump had made clear that Musk would likely not hold any kind of full-time position, given his other commitments.“I don’t think I can get him full-time because he’s a little bit busy sending rockets up and all the things he does,” Trump said at a rally in Michigan in September. “He said the waste in this country is crazy. And we’re going to get Elon Musk to be our cost-cutter.” More