The Financial News

Latest / Hot Issue

Politics

World

Lifestyle

The Financial News

Latest / Hot Issue

Politics

World

Lifestyle

Sunday, June 15, 2025

Trump Backs Johnson: A Bold Move to Secure House Leadership

President-elect Donald Trump has officially endorsed House Speaker Mike Johnson for re-election on December 30. / EPA·Yonhap
President-elect Donald Trump has officially endorsed House Speaker Mike Johnson for re-election on December 30. / EPA·Yonhap

President-elect Donald Trump declared his support for House Speaker Mike Johnson (Republican, Louisiana) on December 30.

This move effectively halted Republican hardliners’ efforts to nominate another Republican House member as Speaker.

In a post on his social media platform Truth Social, Trump stated, “Speaker Mike Johnson is a good, hardworking, religious man. He will do the right thing, and we will continue to win.”

Trump emphatically added, “Mike has my complete and total endorsement.”

The Wall Street Journal (WSJ) interpreted Trump’s endorsement of Johnson as a strategic move to prevent his ambitious immigration reform and tax cut agenda from losing momentum amidst the potential chaos surrounding the election of the House Speaker.

Trump emphasized that “the Republican Party is the party of common sense” and urged hardline Republicans to focus on their duties rather than trying to destabilize the House.

With Trump’s endorsement, Johnson has essentially secured his re-election as Speaker when the House reconvenes on January 3.

Johnson previously navigated a temporary budget deal with Democrats to avert a federal government shutdown. As the budget faced opposition from Tesla CEO Elon Musk, Trump’s top ally, and Trump, Johnson’s position had been at risk. However, he managed to pass the budget through last-minute negotiations, narrowly avoiding a shutdown.

This success boosted his chances for re-election as House Speaker and Trump’s endorsement essentially sealed his re-election.

The Republican Party will retain 219 seats in the new House next year. While they will preserve the majority, the gap between the two parties is not significant.

The Democrats are expected to oppose Johnson unanimously, indicating that he needs the support of every Republican member to secure his re-election as Speaker.

Trump anticipates stabilizing Congress with Johnson’s re-election as Speaker. After his inauguration on January 20, he will immediately focus on his key campaign promises of deporting illegal immigrants and implementing new tariff policies.

Hot this week

Why Southeast Asia is Ditching the Dollar: A New Economic Strategy

Countries are moving away from the U.S. dollar, with ASEAN leading efforts to use regional currencies for trade and investments.

Oil Prices Take a Dip as U.S.-China Trade Talks Keep Investors on Edge

International oil prices fell as US-China trade talks in London continued, with profit-taking contributing to the decline.

Microsoft Defies the Dip: Golden Cross Signals More Gains Ahead

U.S. stock market declines despite a trade deal announcement; Microsoft and Oracle show gains, while other tech stocks retreat.

U.S. Embassy Evacuation Rumors Spark 4% Oil Price Jump

Oil prices surged over 4% amid trade agreement optimism and rising tensions in the Middle East, prompting supply concerns.

Bitcoin Breaks Records and Stays Above 100K for 30 Days Straight

Bitcoin maintains a price above $100,000 for 30 days, signaling a bull market and potential for further gains according to analysts.

Topics

Why Southeast Asia is Ditching the Dollar: A New Economic Strategy

Countries are moving away from the U.S. dollar, with ASEAN leading efforts to use regional currencies for trade and investments.

Oil Prices Take a Dip as U.S.-China Trade Talks Keep Investors on Edge

International oil prices fell as US-China trade talks in London continued, with profit-taking contributing to the decline.

Microsoft Defies the Dip: Golden Cross Signals More Gains Ahead

U.S. stock market declines despite a trade deal announcement; Microsoft and Oracle show gains, while other tech stocks retreat.

U.S. Embassy Evacuation Rumors Spark 4% Oil Price Jump

Oil prices surged over 4% amid trade agreement optimism and rising tensions in the Middle East, prompting supply concerns.

Bitcoin Breaks Records and Stays Above 100K for 30 Days Straight

Bitcoin maintains a price above $100,000 for 30 days, signaling a bull market and potential for further gains according to analysts.

Tesla Rebounds, Dow Climbs: Optimism Grows on Trade Front

U.S. stock markets rallied as trade talks progressed, with Tesla's stock rebounding and Microsoft ending its winning streak.

CDC Vaccine Committee Faces Complete Overhaul Under Kennedy’s Direction

Kennedy announces the resignation of CDC vaccine advisory committee members, claiming a "clean sweep" is needed to restore public trust.

Meta Platforms Falls 0.52% Amid Broader Tech Pullback

U.S. stock market mixed as Tesla rebounds amid easing tensions, while Apple faces declines due to delayed Siri updates.

Related Articles