US President Donald Trump has threatened to cut off billions of dollars in subsidies that Elon Musk’s companies receive from the federal government.
Shares in Tesla were down nearly 5.5% on Tuesday after the latest escalation in the war of words between the president and the Tesla boss.
Musk, the world’s richest man, criticised Trump’s ‘big, beautiful’ bill, which would make permanent large tax cuts, and cut spending in a wide range of programmes, including food subsidies and healthcare for lower-income Americans.
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Author: BBC News
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News post in July 2, 2025, 12:05 pm.
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