[Anchor]
As the Democratic Party swiftly recaptured both the House and the Senate in the US midterm elections, President Donald Trump warned that Democrats would face "ruination" if they attempted to impeach him. Signaling a head-on collision, he indicated that he has no intention of replacing Defense Secretary Pete Hegseth, against whom the opposition party has even introduced an impeachment motion.
For our top story today (November 5), we turn to Washington correspondent Lee Hanseok.
[Reporter]
Addressing criticisms that the crushing defeat in the midterm elections was caused by the war with Iran, US President Donald Trump acknowledged that the assessment was largely correct, conceding that the war's fallout had driven up oil prices.
However, he declared that he would push forward head-on, stating he has no intention of shifting his policy stance following the midterm defeat.
[Donald Trump / US President: If the Democrats try (to impeach), it's going to be ruination for them. For no reason, just because we ran a successful country.]
Dismissing rumors of a replacement for Defense Secretary Pete Hegseth—whom Democrats are demanding be dropped in a personnel reshuffle—Trump insisted that Hegseth is doing a good job.
Yet, cracks are beginning to show within the White House.
Taking to social media, Vice President JD Vance criticized the Trump administration's trajectory, pointing out that voters who backed them in 2024 have turned back to the Democrats out of anger over the war and soaring prices.
Having secured a landslide victory in both the House and the Senate, the Democrats are gearing up for an all-out offensive wielding the power of legislation and the purse.
House Democratic Leader Hakeem Jeffries, who is widely expected to become the first Black Speaker of the House, pressured the administration to end the war in Iran before the new Congress is seated.
[Hakeem Jeffries / Democratic House Leader: We don't have to wait until January 3rd, when the new Congress begins. The president and the administration can end the reckless, enormously costly, optional war in Iran right now.]
While noting there would be no political retaliation, he issued an open warning to the Trump family, vowing to hold them strictly accountable for pursuing power-based private gains.
With Senate Democratic Leader Chuck Schumer also pledging to use congressional budgetary power to cut off the war's funding, the second Trump administration has plunged into extreme turmoil just two years into its term.
(Photo: Park Eun-ha | Video Editing: Kim Byeong-jik)
[Anchor]
Let's now cross over to Washington to learn more about the atmosphere as vote counting draws to a close.
Correspondent Lee Hanseok, could you briefly break down the seat counts for both parties so far?
[Reporter]
As of now, the Democratic Party has secured 240 seats in the House.
Having comfortably surpassed the majority threshold of 218 seats—and having secured 54 seats to win a majority in the Senate as well—the remaining vote counts in a few districts are unlikely to be a major variable.
[Anchor]
It seems President Trump acknowledges the election results but intends to push straight through as before, is that correct?
[Reporter]
Personnel reshuffles are practically a political ritual after losing an election.
Admitting that the defeat stemmed from inflation and oil prices climbing due to the war in Iran, his refusal to take disciplinary action against Defense Secretary Pete Hegseth—who was singled out as the cause of the defeat and is heavily targeted by Democrats—signals that he has no intention of avoiding an all-out war with the opposition.
It appears to be a desperate gamble based on the calculation that showing weakness would accelerate a tailspin into a lame-duck phase. If things truly go down this path, it is bound to be a tough battle against a mega-opposition party armed with congressional investigative and budgetary powers.
The problem is that signs of a rift are emerging within the Trump administration itself.
Vice President JD Vance, a core confidant, effectively turned against the president by asserting—unlike Trump—that they need to end the war and focus on prices.
For President Trump, who finds himself with no room to breathe either internally or externally, it is truly a cornered situation from all sides.
[Anchor]
The Democrats have already issued a declaration of war, haven't they?
[Reporter]
It is clear they have drawn the sword for an all-out clash.
They warn that if their demand to end the war is ignored, they will slash emergency security budgets for Iran and choke off the administration's funding.
Furthermore, their declaration to block the pursuit of power-based private gains reflects their determination to launch sweeping congressional probes into corruption allegations surrounding the Trump family and his aides.
If this turns into a head-on collision, we could see endless congressional hearings over the next two years, along with the potential recurrence of a budget shutdown.
[Anchor]
Oil prices dropped by about 8% overnight and big tech semiconductor stocks fell, but the stock market as a whole surged, correct?
[Reporter]
As you mentioned, while the Philadelphia Semiconductor Index declined, the three major indexes cheered broadly, with the Dow Jones surging over 1,000 points.
Analysts suggest that a sense of relief—stemming from expectations that Congress will check the administration's unilateral tariff bombs and policy overreaches—helped lift the market.
International oil prices also tumbled by over 8% as fears of inflation eased amid hopes for an end to the war in Iran.
However, there is someone keeping his head down amid all this.
Elon Musk, a cabinet member during the early days of the Trump administration, took the crossfire from the midterm election results.
Shares of SpaceX and Tesla plunged by around 5% and 2%, respectively.
This comes as Democrats gear up to tighten autonomous driving safety regulations for Tesla and launch intensive congressional investigations into the attempted merger between Tesla and SpaceX. CNBC evaluated Elon Musk as the biggest loser of this election.
(On-site reporting: Park Eun-ha)
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