Trump Ousts Musk, Threatens to Cut Subsidies
US President Donald Trump revealed he asked Elon Musk to leave his administration, accusing Musk of going "crazy" after Trump removed the electric vehicle (EV) mandate. Trump also threatened to end billions of dollars in government subsidies and contracts to Musk’s companies, calling it an easy budget-saving measure, CE Report quotes Anadolu Agency
The feud escalated as Musk claimed Trump would have lost the 2024 election without his support and floated the idea of forming a new political party. Musk criticized Trump’s spending bill, calling it full of "disgusting pork" and highlighting unfair cuts to EV and solar incentives.
Tesla shares dropped 11.6% amid the conflict. Trump said he was "very disappointed" by Musk’s opposition, accusing him of jealousy over losing his White House role. Musk denied seeing the bill before it passed and vowed to continue opposing it, calling the legislation a threat to America’s financial future.
