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Tesla shares fell amid the conflict between Musk and Trump

July, 01 2025
watermark Economic news

Tesla shares fell 6% on Tuesday after Donald Trump said he would «have to consider» deporting Musk, who was born in South Africa. This reflects the growing tension between them caused by disagreements over government subsidies for electric vehicles.


Trump said that Musk «probably receives more government assistance than anyone in history» and suggested that without it, the entrepreneur would have been forced to close the business and return to South Africa. He also threatened to cancel subsidies for Musk's projects and suggested that the Department of Government Efficiency review funding related to the launch of rockets, satellites and the production of electric vehicles.


The conflict began after Musk criticized the Republican plan to cancel tax breaks providing for a $7,500 loan for the purchase of electric vehicles.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.