The Senate was expected to vote on Jared Isaacman next week.
President Donald Trump on Friday claimed China violated its trade agreement with the U.S. and Treasury Secretary Scott Bessent said talks between the world's two largest economies stalled.
This week, Trump's global tariff policy hit a major roadblock as two federal courts ruled he does not have the power to unilaterally impose some levies. The tariffs can stay in place, for now, as the court considers the administration's appeal.
Meanwhile, Elon Musk is leaving his role as a "special government employee" but is expected to remain an unofficial adviser to Trump.
President Donald Trump said the United States is "close" to a nuclear deal with Iran.
"I think we have a chance of making a deal with Iran. Also. they don't want to be blown up. They would rather make a deal," the president said. "And I think that could happen in the not-too-distant future."
He said a deal would be a good thing and that Iran's safety is a priority.
When a reporter began to ask about a New York Times report that detailed Elon Musk's alleged drug use and family drama, Musk interrupted and referenced the publication's "Russiagate" coverage before saying, "Let's move on."
During brief remarks from the Oval Office, Elon Musk said he believes the Department of Government Efficiency will "only grow stronger over time" and will see a "trillion dollars" of savings from waste and fraud reduction.
"The DOGE influence will only grow stronger," Musk said. "It's like a way of life."
Musk’s team claims DOGE has so far cut $175 billion through asset sales, canceled contracts and leases and workforce reductions. That figure falls considerably short of the $1 trillion goal.
Musk also said he looks forward to being back in the Oval Office.
"I look forward to continuing to be a friend and advisor to the president," Musk said.
President Donald Trump, as an expression of gratitude, gave Elon Musk a gift of what appeared to be a gold key. The president said he appreciated all Musk had done.
"Elon gave an incredible service to nobody like him. And, he had to go through, the slings and the arrows, which is a shame because, he's an incredible patriot," Trump said before handing the gift to Musk.
Musk accepted the gift, thanking Trump. He then complimented the president on the renovations done to the Oval Office.
