Killing USAID by contrast is, as experts have noted, a gift to Russia and China. It's a gift to Russia because the current largest line item the USAID budget goes to Ukraine, which has been as devastated by the Russian invasion as many of those European countries were by the Nazis in 1945.

The SGE designation, which has come under scrutiny under Democrats as well, exempts short-term federal employees from certain disclosure rules.

Musk, who last year said “things that inhibit freedom of exchange or distort the market are not good,” became $12 billion poorer Monday.

Trump's tariffs on Canada and Mexico could drastically affect two of Musk's most prominent companies, SpaceX and Tesla.

Tesla (NASDAQ: TSLA) shares initially shrugged off a weak earnings report before the stock got caught in the trade-war sell-off. The electric vehicle (EV) maker had a tough year in 2024, although Chief Executive Officer Elon Musk continues to be very upbeat about the future.