Donald Trump threatened on Thursday to cut off government contracts to Elon Musk\u2019s companies and the world\u2019s richest man suggested the US president should be impeached, marking a stark end to an unlikely alliance and leaving onlookers wondering what was next. The hostilities between the former allies intensified when the president criticized Tesla CEO Musk in the Oval Office and the pair then lobbed verbal barbs at each other on their social media platforms: Trump\u2019s Truth Social and Musk\u2019s X. \u201cThe easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon\u2019s Governmental Subsidies and Contracts,\u201d Trump posted. Tesla shares closed down over 14 per cent on Thursday, losing about $150 billion in market value in the largest single-day decline in value in its history. Minutes after the closing bell, Musk replied, \u201cYes,\u201d to a post on X saying Trump should be impeached, an unthinkable move in Congress where Trump\u2019s Republicans hold majorities in both chambers. The trouble between the two started brewing days ago, when Musk denounced Trump\u2019s sweeping tax-cut and spending bill. The president initially held his tongue while Musk campaigned to torpedo the bill, saying it would add too much to the nation\u2019s $36.2 trillion in debt. Trump broke his silence on Thursday, telling reporters he was \u201cvery disappointed\u201d in Musk. \u201cLook, Elon and I had a great relationship. I don\u2019t know if we will anymore,\u201d Trump said. As Trump spoke, Musk responded in real time on X. \u201cWithout me, Trump would have lost the election,\u201d wrote Musk, who spent nearly $300 million backing Trump and other Republicans in last year\u2019s election. In another post, Musk asserted that Trump\u2019s signature tariffs would push the US into a recession later this year. Musk\u2019s businesses also include rocket company and government contractor SpaceX and its satellite unit Starlink. Musk, whose space business plays a critical role in the US government\u2019s space program, said that as a result of Trump\u2019s threats he would begin decommissioning SpaceX\u2019s Dragon spacecraft. Dragon is the only US spacecraft capable of sending astronauts to the International Space Station. Late on Thursday, Musk backed off the threat. And in a sign of a possible detente to come, Musk subsequently wrote: \u201cYou\u2019re not wrong,\u201d in response to billionaire investor Bill Ackman saying Trump and Musk should make peace. Punching back Trump and Musk are both political fighters with a penchant for using social media to attack their perceived enemies, and many observers had predicted a falling out. Musk had become one of Trump\u2019s most visible advisers as head of the Department of Government Efficiency, which mounted a sweeping and controversial effort to downsize the federal workforce and slash spending. After leaving that role, Musk this week targeted what Trump has named his \u201cbig, beautiful bill\u201d, calling it a \u201cdisgusting abomination\u201d that would deepen the federal deficit. His attacks amplified a rift within the Republican Party that could threaten the bill\u2019s prospects in the Senate. Nonpartisan analysts say Trump\u2019s bill could add $2.4tr to $5tr to the nation\u2019s $36.2tr in debt. A prolonged feud between the pair could make it harder for Republicans to keep control of Congress in next year\u2019s midterm elections if it leads to a loss of Musk\u2019s campaign spending or erodes support for Trump in Silicon Valley. \u201cElon really was a significant portion of the ground game this last cycle,\u201d said a Republican strategist with ties to Musk and the Trump administration who spoke to Reuters on condition of anonymity. \u201cIf he sits out the midterms, that worries me.\u201d On Tuesday, Musk posted that \u201cin November next year, we fire all politicians who betrayed the American people.\u201d Musk had already said he planned to curtail his political spending in the future. Musk\u2019s increasing focus on politics provoked widespread protests at Tesla sites, driving down sales while investors fretted that Musk\u2019s attention was too divided.<\/p>\n","protected":false},"excerpt":{"rendered":"
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