Musk and Ramaswamy Lead Trump's New Efficiency Department

The Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy under President-elect Donald Trump, is viewed by some, including former White House chief of staff Mick Mulvaney, as a public relations effort lacking statutory authority. Despite these concerns, the initiative aims to reduce federal spending and bureaucracy, which could affect U.S.-China relations, as warned by Chinese policy advisor Zheng Yongnian. Trump's economic strategies, such as high tariffs and deportations, may cause inflation impacting the crypto industry and labor markets. Additionally, while Musk aligns with Trump on reducing federal expenditures, he is open to challenging some of Trump's trade policies, suggesting possible internal policy disagreements.