5 Key News Updates: Elon Musk, Tesla Robo Taxi, US-China Trade, Trump Tariffs, Fed Chair Speculation

Elon Musk's Statements

• ✍️ Elon Musk has walked back some of his previous criticisms of President Trump, stating in a post that his remarks "went too far."
• 🚕 Musk also announced that Tesla's robo taxi service is tentatively scheduled to launch in Austin, Texas, on June 22nd, with a strong emphasis on safety precautions.

US-China Trade Agreement

• 🤝 Negotiators from the United States and China have reportedly reached an agreement to reinstate the Geneva consensus.
• ⚖️ This deal aims to suspend certain tariffs and ease export restrictions, following previous accusations of non-compliance by both nations.

Trump Tariffs and Legal Challenges

• 🏛️ A federal appeals court has ruled to allow President Trump's tariffs to remain in effect while the court reviews a lower court's decision that had blocked them.
• 📈 The lower court had previously determined that the tariffs exceeded the authority granted by the Emergency Economic Powers Act.

Fed Chair Speculation

• 🏦 Treasury Secretary Scott Bessant is reportedly being considered as a potential candidate for the next Fed chair, according to a Bloomberg report.
• ❌ However, the White House has denied the report, labeling it as "fake news."