Trump vs. Musk: A Clash Over Republican Spending Bill

In a growing rift, President Donald Trump voiced his disappointment with Elon Musk, the billionaire CEO of Tesla, due to Musk's outspoken disapproval of a Republican spending bill. Trump suggested that Musk's critiques were largely driven by the bill's plan to eliminate tax credits for electric vehicles, a move that Musk opposes due to its potential negative fiscal impact.

Speaking from the Oval Office, Trump remarked, "I'm very disappointed in Elon," while highlighting his support for Musk's business ventures. Concurrently, Musk took to the platform X, cheerfully backing the official bill title, "Slim Beautiful Bill for the win."

Musk has been a prominent ally for Trump, heavily investing in the Republican cause for the 2024 elections. However, the fallout from Trump's criticism saw Tesla's shares decline, dropping 6% following Trump's remarks, exacerbating a preexisting 3% dip. (Reporting By Nandita Bose and Jarrett Renshaw, writing by Joseph Ax; Editing by Scott Malone)

(With inputs from agencies.)