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Trump and Musk Hold Fragile Ceasefire in Public Feud

After a week of insults over electric vehicle tax cuts, federal contracts, hostilities have paused as investors, lawmakers assess the fallout

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© Davidoff Studios/Getty Images (Epstein and Trump photo) Photo by Kevin Mazur/VF14/WireImage (Maxwell and Musk photo)
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Overview

  • President Trump refused Elon Musk’s request for a phone call, calling him “lost his mind” and focusing on advancing the Big Beautiful Bill through Congress.
  • Musk threatened to decommission SpaceX’s Dragon spacecraft after Trump said he could cancel his companies’ federal contracts.
  • Tesla shares plunged more than 14% during Thursday’s trading, erasing roughly $100 billion in market value before a modest recovery.
  • The White House said Trump is considering selling or giving away the red Tesla Model S he received in March as a public rebuke.
  • Democrats have used the feud in fundraising appeals and called for investigations into Musk’s unverified claim that Trump appears in the Epstein files.