Washington, June 6 (IANS) Tesla and SpaceX CEO Elon Musk on Friday said that Donald Trump’s aggressive new trade tariffs could trigger the recession by the second half of this year.
The statements came as the public feud between the world’s richest man and US President escalated further.
“The Trump tariffs will cause a recession in the second half of this year,” Musk posted on his X platform.
“If America goes broke, nothing else matters,” he added.
The face-off between them sent shockwaves through the financial markets, with Tesla’s stock plunging over 14 per cent on Thursday (US time), erasing nearly $150 billion in market value.
Trump also said that the “easiest way” for the government to save money would be to “terminate” contracts and subsidies going to billionaire and former adviser Musk.
Musk replied: “In light of the President’s statement about cancellation of my government contracts, SpaceX will begin decommissioning its Dragon spacecraft immediately”.
Trump’s threat came after Musk accused the US President of “ingratitude” and said he would have lost the election without him, after the billionaire donated more than $250 million to help elect him last year.
“Oh and some food for thought as they ponder this question: Trump has 3.5 years left as President, but I will be around for 40+ years,” posted Musk.
The breakup between the US President and the world’s richest man is unfurling much like their relationship started — rapidly, intensely and very publicly.
Trump said he was “very disappointed” with Musk after the billionaire lambasted the President’s signature bill of tax cuts and spending plans.
“Whatever,” Musk wrote on his social media platform while responding to Trump in real time.
Musk bid farewell to Trump last week in a subdued news conference in the Oval Office, where he sported a black eye that he said came from his young son but that seemed to be a metaphor for his messy time in government service.
–IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
