logo
Don-Elon Break-Up: Version 2 - Trump–Musk feud flares over ‘Big Beautiful Bill'

Don-Elon Break-Up: Version 2 - Trump–Musk feud flares over ‘Big Beautiful Bill'

Hans India3 days ago
Washington: The feud between President Donald Trump and his former ally, Elon Musk, has reignited once again on Tuesday after the world's richest person said he'll back primary challenges against GOP lawmakers voting for the President's signature spending bill, prompting Trump to retaliate by threatening to scrap government subsidies for Elon Musk's firms.
Trump suggested DOGE should take a look at cutting the subsidies that Tesla CEO Elon Musk's companies have received to save the Federal government money. The berating from the US President came after Tesla chief Elon Musk threatened to launch the 'America Party' if Trump backed 'Big Beautiful Bill' was passed by the US Senate.
Trump launched a fiery tirade against tech billionaire Elon Musk, accusing him of benefiting from massive US government subsidies while attacking the electric vehicle (EV) mandate.
In a characteristically unfiltered social media post, Trump claimed that Musk 'may get more subsidy than any human being in history, by far,' and suggested that without such government support, Musk would be forced to 'close up shop and head back home to South Africa.'
The remarks come despite Musk having previously endorsed Donald Trump's Presidential bid, a point the US President addressed directly: 'Elon Musk knew, long before he so strongly endorsed me for President, that I was strongly against the EV mandate. It is ridiculous and was always a major part of my campaign.' Trump reiterated his long-held stance that while electric vehicles 'are fine,' consumers should not be compelled to adopt them, calling the mandate 'ridiculous.'
In a tone laced with sarcasm, Trump hit at Musk's SpaceX and Tesla, saying, 'No more rocket launches, satellites, or electric car production, and our country would save a FORTUNE.'
Taking aim at the financial scale of government support for Musk's ventures — from Tesla and SpaceX to Starlink — Donald Trump even suggested the DOGE (Department of Government Expenditure) should be brought in to scrutinise the tech mogul's empire: 'Perhaps we should have DOGE take a good, hard look at this? BIG MONEY TO BE SAVED!!!' 'Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame! And they will lose their primary next year if it is the last thing I do on this Earth,' Elon Musk posted early on Monday.
A few hours later, the Tesla and SpaceX chief executive doubled down: 'If the insane spending bill passes, the America Party will be formed the next day.' He added: 'Our country needs an alternative to the Democrat‑Republican uniparty so that the people actually have a VOICE.'
The row escalated when Elon Musk blasted the Senate package for boosting borrowing by a record US$5 trillion: 'It is obvious with the insane spending of this bill, which increases the debt ceiling by a record FIVE TRILLION DOLLARS that we live in a one‑party country – the PORKY PIG PARTY!! Time for a new political party that actually cares about the people.'
Musk insists that lost subsidies for electric vehicles and solar power are not his chief concern; instead, he brands the bill 'debt slavery' that props up 'industries of the past while severely damaging industries of the future'.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

7 ways Trump's Big Beautiful Bill will impact non-Americans
7 ways Trump's Big Beautiful Bill will impact non-Americans

First Post

time40 minutes ago

  • First Post

7 ways Trump's Big Beautiful Bill will impact non-Americans

Framed as a bill to restore American strength, reduce inflation, and fund US priorities, Trump's new legislative proposal also carries significant consequences for the rest of the world, particularly non-Americans read more Speaker of the House Mike Johnson, R-La, surrounded by Republican members of Congress, signs US President Donald Trump's signature bill of tax breaks and spending cuts, July 3, 2025, at the Capitol in Washington, DC, US. File Image/AP US President Donald Trump's newly passed legislative package, also known as the One Big Beautiful Bill Act, marks one of the most sweeping overhauls of America's tax, trade, and immigration systems in recent times. While the bill is pitched as a way to 'restore American strength' and redirect national spending to domestic priorities, its global consequences are wide-ranging, particularly for non-Americans across the world. Here are 7 key ways the bill is expected to shape lives and economies outside the United States: STORY CONTINUES BELOW THIS AD 1. Remittance tax to hit foreign households The bill imposes a 1% tax on cash remittances sent from the US to other countries. This will affect millions of families in major remittance-dependent economies like India, Mexico, and the Philippines, potentially reducing their annual income by billions of dollars. The tax does not apply to wire or bank-based transfers. 2. Withholding uncertainty for foreign investors While the bill does not impose new withholding taxes on foreign investors, it includes broad corporate tax changes that could affect foreign-owned US assets. Global banks, pension funds, and sovereign wealth entities are bracing for potential regulatory changes that could erode returns on US-linked investments. 3. Trade tensions may escalate The repeal of the 'de minimis' exemption means that small shipments from foreign retailers into the US, previously untaxed if valued under $800, will now be subject to tariffs. This could disproportionately hit exporters in China, the EU, and Latin America, possibly sparking retaliatory trade measures. 4. Climate commitments rolled back The bill rolls back key clean energy tax credits established under the Inflation Reduction Act, including subsidies for electric vehicles, solar panels, and wind energy projects. This may stall momentum in global green supply chains, particularly among US-EU climate partnerships and Asia-based component suppliers. 5. Tighter US immigration access STORY CONTINUES BELOW THIS AD The legislation ramps up funding for ICE and Border Patrol and introduces a minimum $100 fee on asylum applications. Although lower than earlier proposals, the new cost barriers could impact international students, temporary workers, and refugees, making the path to the US more expensive and bureaucratic. 6. Ripple effects in global markets From taxes on remittances to regulatory changes in energy and trade, the bill could cause a shift in global investment strategy, increased dollar volatility, and a realignment of financial exposure away from the US by emerging economies. 7. Concerns over US global commitments While the bill does not explicitly cut foreign aid, critics warn that its massive domestic spending increases — including over $170 billion for immigration enforcement — could lead to future reductions in US contributions to global health, development, and humanitarian programs. President Trump's 'big beautiful' promise is already reshaping the US economy, and its effects will be felt far beyond American borders. From higher remittance costs and tighter visa controls to new barriers for global trade and climate cooperation, the bill signals a sharp turn inward, with real consequences for the rest of the world. STORY CONTINUES BELOW THIS AD

On Independence Day, Elon Musk throws a question to all Americans: If you want ...
On Independence Day, Elon Musk throws a question to all Americans: If you want ...

Time of India

time43 minutes ago

  • Time of India

On Independence Day, Elon Musk throws a question to all Americans: If you want ...

Elon Musk has a question for all Americans on Independence day . The tech billionaire has shared a poll on microblogging platform X (formerly Twitter) asking whether he should end the two-party system in the US and create his proposed 'America party'. 'Independence Day is the perfect time to ask if you want independence from the two-party (some would say uniparty) system! Should we create the America Party ?,' he wrote in the post, followed by a simple yes and no poll. In a consecutive post, Musk wrote: 'One way to execute on this would be to laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts. Given the razor-thin legislative margins, that would be enough to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Sensação de queimação nos pés? Insira essa planta ao acordar G!Saú Undo When Elon Musk proposed to form America Party Musk first floated the idea of forming a third party earlier this month when he publicly criticised the 'One Big Beautiful Bill'. As the House Republicans has narrowly passed the spending bill in a 218–214 vote on July 3, Musk has reignited the debate with his latest Twitter post. 'Utterly insane and destructive. It will destroy millions of jobs in America and cause immense strategic harm to our country!,' Musk has said in criticism of the post. In a previous Twitter post, Musk criticised the Trump administration's 'One Big Beautiful Bill'. He that if the 'One Big, Beautiful Bill' passes in the Senate, he will immediately move forward with launching a new political party called the 'America Party.' Musk argued that the United States currently functions as a one-party system dominated by financial self-interest. His post then read, 'If this insane spending bill passes, the America Party will be formed the next day. Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.' Google Pixel 9 Pro After 1 Year: Still a Flagship Worth Buying in 2025? | Long-Term Review

Indian team back from US; trade talks to continue
Indian team back from US; trade talks to continue

Economic Times

timean hour ago

  • Economic Times

Indian team back from US; trade talks to continue

Representative image The Indian team, led by chief negotiator Rajesh Agrawal, has returned from Washington after concluding another round of talks on an interim trade pact, but discussions will continue as certain issues in the agri and auto sectors still need to be resolved, an official said. The official said that the talks are in the last phase and its conclusion is expected to be announced before July 9. "Indian team is back from Washington. Negotiations will continue. There are certain issues which need to be resolved in agriculture and auto sectors," the official said. The Indian team was in Washington for negotiations on an interim trade agreement with the US from June 26 - July 2. These talks are important as the suspension of Trump's reciprocal tariffs is ending on July 9. The two sides are looking at finalising the talks before that. India has hardened its position on giving duty concessions to American farm and dairy products as these are politically sensitive sectors. On April 2, the US imposed an additional 26 per cent reciprocal tariff on Indian goods but suspended it for 90 days. However, the 10 per cent baseline tariff imposed by America remains in place. India is seeking full exemption from the additional 26 per cent tariff. India has not opened up the dairy sector for any of its trading partners in free trade pacts the country has signed so far. The US also wants duty concessions on certain industrial goods, automobiles, especially electric vehicles, wines, petrochemical products, and agricultural items like apples, tree nuts, and genetically modified crops. India is seeking duty concessions for labour-intensive sectors like textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas in the proposed trade pact. The two countries are also looking to conclude talks for the first tranche of the proposed bilateral trade agreement (BTA) by fall (September-October) this year. The pact is aimed at more than doubling bilateral trade to USD 500 billion by 2030 from the current USD 191 billion. Before the first tranche, they are trying for an interim trade pact. The US team was here last for the talks. India's merchandise exports to the US rose by 21.78 per cent to USD 17.25 billion in April-May this fiscal, while imports rose by 25.8 per cent to USD 8.87 billion.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store