BY Reuters8 minute read

Donald Trump's return to the White House after winning the Nov. 5 U.S. presidential election may reshape American business. Much depends on whom he appoints as deputies and cabinet members, including the role of Tesla CEO Elon Musk, and what tariffs he enacts. Following are some major issues and sectors to watch:

WHAT ROLE WILL ELON MUSK PLAY? After some nudging from the world's wealthiest person, Trump has said he would tap Tesla CEO Elon Musk to lead a new government efficiency commission. Musk has said at least $2 trillion could be cut from the $6.75 trillion federal budget. How that works could be a key to the next Trump administration. Does efficiency mean fewer rules and regulators? Musk has been a vocal critic, for instance, of federal review of his SpaceX rocket business. That could mean less oversight of self-driving cars (a Tesla business) or rocket launches and much more. The two men are not completely in sync: Trump has said he won't let California require all vehicles in the state go electric in a decade, but Musk runs the world's most valuable EV company. "A rising tide raises all boats. So to the extent that Elon is able to hamper the vilification of EVs by a potential Trump administration, all the better," said James Chen, former head of policy for Rivian and Tesla. How Musk would address conflicts of interest between his interests in autos, space, health, construction and artificial intelligence is not clear.

Subscribe to the Compass Newsletter. Fast Company's trending stories delivered to you daily Privacy Policy | Fast Company Newsletters

Trump has pledged to be a "crypto president", a plan that may start with replacing industry opponent Gary Gensler, the Securities and Exchange Commission chair who has sued most of the industry—including Coinbase, Binance and Kraken. Gensler's replacement is expected to review—and potentially tear up – accounting guidance and create industry exemptions from SEC rules. Musk, too is a…

Reuters

Read full article