Elon Musk, billionaire owner of Tesla, stated that he is very likely to dedicate more time to the electric car company starting in May and reduce his time at the Department of Government Efficiency (DODGE).

Musk’s announcement, which has not indicated that he will stop collaborating with the Donald Trump administration, generated a nearly 4% increase in Tesla shares.

According to the magnate, “he will dedicate one or two days a week to government affairs as long as the president wants, to also focus on his electric car company, which has been affected by Trump’s tariffs.

On the tariff issue, he will simply give his opinion, advocating for lower tariffs.”

M.Pino

Source: europapress

(Reference image source: Michael Förtsch on Unsplash)

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La entrada Elon Musk to dedicate more time to Tesla starting in May apareció primero en Bitfinance.

On Sunday, February 9, it was learned that the President of the United States, Donald Trump, ordered the Secretary of the Treasury, Scott Bessent, to stop the production of one-cent coins, considering this high cost a waste for the nation.

Trump said, during his return to Washington from the Super Bowl: “For too long, the United States has minted one-cent coins that literally cost us more than 2 cents. It is a waste! I have instructed my Secretary of the Treasury to stop producing new cents. Let’s get the waste out of our great nation’s budget, even if it is one cent at a time.”

The requests of other years for the elimination of the one-cent coin are joined by the most recent statements by Elon Musk, who heads the Department of Government Efficiency, on the high cost of producing said coin.

In 2023, the US Mint put into circulation about 4.1 billion one-cent coins. Last year, the institution indicated in its annual report that “producing and distributing the US cent costs about 3.7 cents, more than 20 % more than the previous year.”

Trump’s decision is undoubtedly greatly influenced by the increase in the cost of metals such as zinc and copper, which makes the manufacture of the coin more expensive.

M.Pino

Source: cnnespanol

(Reference image source: Kenny Eliason on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada US Treasury to stop producing one-cent coins apareció primero en Bitfinance.