Trump-Musk Feud Erupts Over Spending Bill

The close political relationship between President Trump and Elon Musk came to a dramatic end this week as the two clashed publicly over Trump's “Big Beautiful Bill.”

• After the CBS interview we mentioned last week, where Musk said he didn’t know if a bill could be “both” big and beautiful at the same time, he posted on X, calling the bill a "disgusting abomination."
• White House Press Secretary Karoline Leavitt attempted damage control. “Look, the President already knows where Elon Musk stood on this bill. It doesn’t change the President’s opinion. This is one big, beautiful bill, and he’s sticking to it,” she said during a press briefing on Wednesday.
• House Speaker Mike Johnson publicly rebutted Musk, saying "With all due respect, my friend Elon is terribly wrong about the one big, beautiful bill."
• Musk continued posting against the spending bill on X, and thirteen minutes into an Oval Office meeting with German Chancellor Friedrich Merz on Thursday, President Trump was asked about the billionaire’s remarks. "I'm very disappointed in Elon,” he responded.
• Musk posted more than 40 times on social media on Thursday, criticizing both the legislation and Trump personally, claiming, "Without me, Trump would have lost the election," agreeing with calls for Trump's impeachment, and alleging that Trump appears in the yet-unreleased Epstein files.
• Trump hit back, saying that Musk was going “CRAZY” over the removal of the EV credit from the bill, floating the possibility of cancelling Musk's federal contracts, and suggesting the Tesla CEO was suffering from "Trump Derangement Syndrome." Musk has since deleted his accusations about Trump’s connection to the Epstein files.

Editorial Note: As with many things, the fight is rarely about the stated reasons given by either side. Time will likely yield further perspective on this conflict.

🇺🇦 Ukraine's “Pearl Harbor” Strike on Russia

Ukraine executed its most ambitious military operation of the war last Sunday, launching 117 drones deep into Russian territory in what some are calling “Russia's Pearl Harbor." The surprise attack, personally supervised by President Zelensky and 18 months in the planning, targeted strategic bomber bases across five Russian regions, some located thousands of miles from Ukraine.

While the Ukrainians initially claimed that the operation had damaged or destroyed up to 40 Russian military aircraft, two U.S. officials told Reuters that the strikes hit as many as 20 warplanes, destroying roughly 10. The attack came just before Ukraine/Russia peace talks in Istanbul, where the two sides agreed only on prisoner exchanges, and no ceasefire.

Putin warned Trump that Russia “will have to respond” to the massive drone attack, with Trump comparing the warring nations to “children fighting in the park” and suggesting it might be best to let them fight longer before intervention.

The problem with the children fighting in the park analogy is that a lot of people are killed in the process. According to a new estimate, the war in Ukraine has killed or wounded nearly 1.4 million people: a million Russians and 400,000 Ukrainians.

💰 Steel and Aluminum Tariffs Double

The Trump administration officially raised tariffs on steel and aluminum to 50% this week, doubling the previous 25% rate. The move affects critical imports—America imported 26.2 million metric tons of steel and 5.4 million metric tons of aluminum last year, with Canada serving as the largest foreign supplier.

While steel manufacturers celebrated with significant stock gains, economists warn the tariffs will increase costs across numerous industries, from construction and automotive to household goods, as businesses typically pass tariff costs to consumers through higher prices.

🚨 Terror Attack in Colorado

Eight people were injured in Boulder, Colorado, when an Egyptian illegal immigrant attacked pro-Israel demonstrators with a makeshift flamethrower and incendiary devices. The FBI classified the incident as a "targeted terror attack" after 45-year-old Mohamed Sabry Soliman yelled, “Free Palestine" during the assault.

Soliman, who overstayed his visa and remained in the U.S. illegally since February, 2023 during the Biden administration, has been arrested and is believed to have acted alone.

✈️ New Travel Restrictions Implemented

Trump renewed a signature travel ban policy from his first term, blocking citizens from 12 countries—primarily in the Middle East and Africa—from visiting the U.S. The banned countries are Afghanistan, Chad, the Republic of Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Myanmar, Somalia, Sudan, and Yemen. Several additional countries face more limited travel restrictions.

🎓 Chinese Officials Face University Access Restrictions

New U.S. visa criteria threaten to end the Chinese Communist Party's practice of sending party officials to study at American universities. Harvard University has been particularly popular among Chinese bureaucrats, earning the nickname of the top “party school” outside China for hosting numerous Communist Party officials. Clever turn of phrase there.