Trump vs. Musk: A Clash Over Fiscal Policies

President Donald Trump on Thursday voiced his frustration with Elon Musk, criticizing the Tesla CEO's stance against a crucial tax-cut bill central to Trump's administration policies. Trump's remarks hinted at a deteriorating relationship with Musk, who had once praised him.

The conflict stemmed from Musk's disapproval of the bill's potential impact on federal deficits and electric vehicle tax credits. Musk called for the elimination of unnecessary expenditures while accepting cuts in vehicle credits. Despite recent successes, Musk's budget-cutting efforts fell short, achieving less than anticipated.

Musk's significant financial backing of Republican campaigns and his role in Trump's Department of Government Efficiency have been notable, but his opposition has sparked protests and affected Tesla's market performance. Tesla shares dropped nearly 6% after Trump's criticism.

(With inputs from agencies.)