Trump Cabinet Meeting Amidst Stock Market Turmoil and Tariff Controversy as The Plummets to 284th in Trading Volume

The stock price of The experienced a significant decline on March 24, 2025, with a trading volume of 3.24 billion, marking a 56.41% decrease from the previous day. This decline placed The at the 284th position in terms of trading volume for the day.

President Donald Trump held his third Cabinet meeting with Elon Musk in attendance. During the meeting, Trump reiterated his stance on tariffs, asserting that they would benefit the U.S. economy and be implemented fairly. Economists, however, have expressed concerns that tariffs could lead to increased inflation and financial strain for many Americans.

Trump also discussed the efforts to reduce the federal workforce, particularly focusing on contracts identified as fraudulent by the DOGE team. Despite the unpopularity of such cuts, Trump emphasized the necessity of these measures to improve the country. Musk, who has been a target of death threats due to his department's work, was defended by Trump for not seeking any favors, including the relaxation of electric vehicle mandates that could impact his business.

Commerce Secretary Howard Lutnick announced the upcoming launch of the "External Revenue Service" to collect revenue from the imposed tariffs. Lutnick highlighted April 2 as "American Liberation Day," marking a significant shift in how the rest of the world treats the U.S. Education Secretary Linda McMahon addressed the declining test scores in education, emphasizing the need for immediate action. Trump's administration has also faced legal battles over deportation flights to El Salvador and the potential elimination of FEMA.

Additionally, the meeting coincided with U.S. officials convening with Russian and Ukrainian officials in Saudi Arabia to negotiate a potential ceasefire. Trump characterized a visit by his allies to Greenland as a friendly gesture, despite criticism from Greenland's government. The meeting also touched on various other topics, including the uncertain future of transgender service members and the global movement aimed at bankrupting Musk.