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.
Elon Musk, wearing all black, had a visible bruise over his right eye while speaking at the Oval Office.
Asked what happened, Musk said his 5-year-old son punched him in the face.
"I said, 'Go ahead, punch me in the face.' And, he did," Musk said.
Asked if he would consider pardoning Sean "Diddy" Combs, if convicted, as the hip-hop mogul stands trial in Manhattan federal court, President Donald Trump said, "Nobody's asked, but I know people are thinking about it."
"I don't know. I would certainly look at the facts," Trump said. "If I think somebody was mistreated, whether they like me or don't like me, it wouldn't have any impact on me."
Trump said he believes "some people have been very close to asking" about a pardon.
"First of all, I look at what's happening, and I haven't been watching it too closely, although it's certainly getting a lot of coverage," he said.
Trump added that he hasn't spoken to Combs in years.
Combs has been accused of sex trafficking by force, transportation to engage in prostitution, and racketeering conspiracy. He has pleaded not guilty to all of the charges.
Asked if former first lady Jill Biden should testify on allegations that former President Joe Biden suffered from mental decline while in office, President Donald Trump dodged.
"Well, I hate the concept of it," Trump said of Jill Biden testifying. "It's the wife of a man who was going through a lot of problems, and everybody that dealt with him understood that. And I guess it came out during the debate loud and clear."
The comments come after White House press secretary Karoline Leavitt pushed for Jill Biden to testify on the matter during the press briefing Thursday.
The Biden administration has pushed back against reports that the president suffered a decline mental acuity while in office.
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.
