South Korea's Trade Minister: Extending the tariff suspension period for three weeks is not enough to complete the negotiations, and the negotiation process must be accelerated.

Bernstein: Lowered Chevron (CVX.N) price target to $149 from $168. Lowered ExxonMobil (XOM.N) price target to $129 from $140.

Musk's industry has been hit by a chain reaction 1. Tesla is caught in multiple crises ① Stock price plummeted: Since Musk got involved in politics, Tesla's stock price has been "halved" from its historical high. The news of the establishment of the American Party caused Tesla's closing price to fall nearly 7% on Monday, and the cumulative decline this year was 22%. ② Sales decline: Tesla's global deliveries in Q2 2025 fell 13.5% year-on-year, and sales in the European market plummeted 39% in the first four months, market share declined, and "boycott Tesla" slogans appeared in many places. ③ The board of directors is under pressure: Tesla's board of directors is under external pressure, and investors are asking Musk to clarify whether his political ambitions affect the CEO's duties. 2. Related industries are also affected ① Space X contract risk: Trump threatens to review NASA and defense contracts, which may delay launch licenses. ② Robotaxi regulatory risks: The National Highway Traffic Safety Administration launched an investigation into illegal driving after Tesla Robotaxi went online in Texas, and in May it also asked it to submit operating data in low-visibility environments. Expert opinion 1. Noel, a professor of political history and political methodology at Georgetown University, said that the United States lacks an "open system that allows multiple third-party parties to achieve significant success" and that the American people have become attached to existing political parties. 2. Lee Goodman, former chairman of the Federal Election Commission, said that in addition to time and legal issues, the preparation of campaign funds is also a major problem. Musk may need thousands of donors to jointly fund his party. 3. Capel, a senior American election lawyer, said that the laws of various states clearly favor the two major parties, which will greatly hinder the rise of third-party parties. There is no way Musk can establish a new national party before the 2026 midterm elections.