Trump lashes out at Musk: "You'd be back in South Africa without subsidies"
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Trump lashes out at Musk: "You'd be back in South Africa without subsidies"
Elon Musk responds: Cut everything, right now!
Navigating Web3 tides with focused insightsBy Li Xiaoyin, Wall Street Insights
After Elon Musk once again slammed the "America First Bill," Donald Trump stepped in to fire back, reigniting the public feud between the two—marking another dramatic round in the ongoing "Trump vs. Musk" saga!
On July 1 local time, Trump lashed out at Musk on Truth Social, claiming Musk has likely received more subsidies than anyone in history and would have had to “go back to South Africa” and shut down his businesses without them.
Trump said:
"Musk knew long before he started strongly supporting my presidential campaign that I’ve always been firmly opposed to mandatory electric vehicle policies. These policies are absurd—and have been a key issue in my campaign. Electric vehicles themselves aren’t the problem, but forcing everyone to own one is wrong. Musk has probably received more subsidies than anyone in history, and without them, he’d likely be out of business and back in South Africa. Then there’d be no rocket launches, no satellite programs, no EV production—and our country would save a tremendous amount of money. Maybe we should let DOGE take a close, hard look at this? It could save enormous sums!!!"
Musk quickly responded on X: "Cut all subsidies now."
Musk added: "I'm just asking not to bankrupt America. What’s the point if we keep raising the debt ceiling?"
As tensions between Trump and Musk escalate once more, Tesla shares plunged, dropping nearly 7% in after-hours trading.
Reconciliation Lasted Less Than Half a Month—Trump and Musk Clash Again
Earlier in June, Musk criticized Congress's spending bill as "disgusting" on his social media platform X, urging lawmakers to vote against it. Trump fired back, suggesting a review of government subsidies and contracts awarded to Tesla and its affiliated companies, saying: "I'm very disappointed. How long our relationship can last is hard to say now."
The verbal battle ended in reconciliation on June 12, when Musk backtracked and expressed regret. Trump liked Musk’s apology post, commenting, "I think he did a good thing." However, he stopped short of confirming whether he was fully willing to restore their alliance.
According to Wall Street Insights, on the 29th, after intense debate, the U.S. Senate passed an updated version of Trump’s flagship "America First Bill" by a narrow 51-to-49 vote, which includes an early termination of the $7,500 tax credit for consumers purchasing electric vehicles.
This move has reignited Musk’s anger. On that day, Musk sharply criticized the "America First Bill," arguing that cutting subsidies for EVs and clean energy would damage America’s future industries, destroy millions of jobs, amount to political suicide for the Republican Party, and cause "incredible harm" to the United States.
On Monday this week, Musk continued his attack, stating: "Every single member of Congress who ran on promises to reduce government spending, then immediately voted for the largest debt expansion in history, should be ashamed," vowing to ensure they lose their seats in next year’s midterm elections.
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