šØ *BREAKING: Trump Labels Elon Musk a "Grifter" Over EV Tax Credits* šŗšøā”ļø
The once-amicable relationship between President Donald Trump and Tesla CEO Elon Musk has taken a contentious turn. Amid escalating tensions over the proposed rollback of electric vehicle (EV) tax credits, Trump has reportedly referred to Musk as a "grifter," suggesting that Musk's opposition is driven by personal financial interests.
š„ The Feud Unfolds
- *Trump's Accusation*: President Trump criticized Musk for his public denouncement of the "One Big Beautiful Bill," a significant tax and spending proposal that includes the elimination of the 7,500 EV tax credit. Trump accused Musk of being upset over the removal of these subsidies, implying that Musk's stance is self-serving.
- *Musk's Response*: Musk countered by asserting that he was not informed about the bill's contents prior to its passage and criticized it for excessive spending and lack of transparency. He also highlighted his previous support for Trump, suggesting that his contributions were pivotal to Trump's electoral success.
š Market Impact
Tesla's stock has experienced a significant decline, dropping over 8304, falling below key technical support levels. This downturn is attributed to a combination of factors, including the public dispute between Musk and Trump, concerns over global demand, and upcoming product launches.
š Broader Implications
The public fallout between Trump and Musk underscores the complexities of aligning business interests with political agendas. The proposed elimination of EV tax credits has sparked debate over the future of the electric vehicle industry in the U.S., with potential ramifications for manufacturers, consumers, and environmental policy.
*Stay tuned for further developments as this high-profile dispute continues to evolve.*
