Lisa Zhu
Turbulence in Washington as Deadline Approaches
The political landscape is heating up as Donald Trump (特朗普) races against the clock to pass his signature ‘Great Again’ economic legislation before July 4. Treasury Secretary Steven Mnuchin (贝森特) fueled optimism during his Monday Bloomberg TV appearance, declaring: ‘I’m confident we’ll see progress within hours with this bill reaching the President’s desk by Independence Day.’ John Thune poured cold water on this timeline when pressed about sufficient Senate support: ‘We’ll only know when voting happens.’
Meanwhile, signs of Republican division exploded into public view on June 30 when Elon Musk (马斯克) unleashed a tirade against Trump’s own party. The Tesla CEO’s social media posts condemned the ‘Great Again’ bill’s ‘$5 trillion debt explosion’, branding Republicans ‘the Porky Pig Party’ for excessive spending. The tech mogul advocated establishing ‘a new party that actually cares about the people,’ spotlighting growing intra-party rifts threatening Trump’s economic agenda.
Administration’s Stakeholders Dig In
The White House deployed Cabinet members to accelerate momentum for the legislation, which proposes sweeping tax reforms alongside infrastructure incentives. Mnuchin held daily briefings with Senate Finance Committee members while Chief of Staff Levitt (莱维特) coordinated procedural maneuvers. Behind closed doors, administration officials acknowledged dwindling negotiation time: ‘Every hour without consensus damages passage odds before recess,’ one aide noted.
Wall Street Defies Political Chaos
U.S. markets spectacularly shrugged off Washington turmoil, with the Nasdaq and S&P 500 closing at historic highs on Monday. All three major indexes achieved triumphant June and H1 finishes despite escalating tariffs threats and Trump’s economic agenda uncertainties. Investors cheered Canada’s withdrawal of digital services taxes clearing obstacles.
Record-Setting Market Performance
- Dow Jones: +275.50 points (+0.63%) – closed at 44,094.77
- Nasdaq: +96.27 points (+0.47%) – record high 20,369.73
- S&P 500: +31.88 points (+0.52%) – record peak 6,204.95
Ken Mahoney, CEO of Mahoney Asset Management, captured the bullish sentiment: ‘The market keeps climbing this wall of worry – tariffs, Middle East tensions, weak data – to prove naysayers wrong. We’ve witnessed multiple near-crashes transform into buying opportunities.’ The remarkable rebound erased April’s 18% tariff panic plunge.
Tariff Tug-of-War Intensifies Globally
Global trading relationships underwent seismic shifts when White House Economic Adviser Kevin Hassett (凯文·哈塞特) confirmed immediate U.S.-Canada negotiation resumptions after Ottawa dropped its digital tax. ‘Bilateral talks restart tonight,’ Hassett told Reuters. ‘Trump directly confronted Justin Trudeau (卡尼) about this during the G7 summit.’ Observers suggest NAFTA modernization remains contentious despite this breakthrough.
Japan Trade Tensions Escalate
Relations deteriorated with Tokyo after Trump vented frustration over stalled negotiations. The President blasted Japan’s agricultural protections, claiming ‘they’ve been spoiled dealing with America.’ Chancellor Steven Mnuchin followed with tariffs warning. Administration sources revealed drafted notifications imposing ‘dramatically higher duties’ targeting Japanese electronics and automobiles amounting to $12 billion annually.
Tech Titans Reshape AI Strategies Amid Political Uncertainty
Silicon Valley accelerated transformational AI pivots disregarding Washington turbulence. Apple contemplated abandoning its ‘Apple Foundation Models’ development after internal project delays. Instead, Bloomberg reports Apple might license OpenAI’s or Anthropic’s technology for its Siri overhaul. ‘Testing external models on Apple Cloud infrastructure shows commitment to catching rivals,’ revealed one insider familiar with negotiations.
Meta’s Artificial Superintelligence Gamble
Mark Zuckerberg (扎克伯格) announced a company-wide AI reorganization. The CEO unveiled plans for human-level ‘superintelligence’ through Meta Superintelligence Labs. Scale AI ex-CEO Alexandr Wang now leads this initiative as Chief AI Officer. ‘Alexandr represents extraordinary talent,’ Zuckerberg stated. GitHub’s former CEO Nat Friedman collaborates on applied AI research.
Central Banking Clash Culminates
Trump escalated his long-running Fed feud on Monday, sending Jerome Powell (鲍威尔) handwritten notes demanding rate cuts aligned with Japan (0.5%) and Denmark (1.75%). ‘Act faster! We’re losing billions yearly,’ the President scrawled. Mnuchin initiated succession planning for Powell’s May departure.
The Fed battle coincides with critics questioning the timing of Trump’s economic agenda rollout. Treasury insiders confirmed Powell’s replacement would ‘prioritize institutional continuity over political alignment’, suggesting Trump might struggle installing a dovish successor.
Navigating the Political Tightrope
The convergence of legislative pressures, tech disruptions, global trade chess games, and partisan fractures presents unprecedented challenges. Musk’s intervention highlights corporate frustrations among Trump’s traditional allies while administration officials strategize multi-front policy implementation. The fate of Trump’s economic agenda may hinge on bridging widening GOP divisions while preventing trade conflicts from derailing markets.
As deadlines approach without clear compromises, observers stress bipartisan dialogue as paramount. Track amendment-by-amendment developments through the Congressional Budget Office dashboard [cbo.gov/tracker] and Treasury trade negotiation updates [ustreasury.gov/trade]. With conflicting signals across institutions, citizen engagement multiplies pressure for transparency.
