Trump and Elon Musk: Surprise Meeting Fuels Fresh Buzz on 2024 Election and Twitter’s Next Move

Donald Trump escalated his war of words with tech billionaire Elon Musk on Thursday, calling the Tesla and SpaceX chief “infected with Trump derangement syndrome” during an impromptu Oval Office exchange with reporters. “Elon and I had a great relationship. I don’t know if we will anymore,” the president said when pressed about Musk’s decision to publicly campaign against his signature “Big Beautiful Tax-Cut Bill.” Musk has spent the past three days urging followers on X (formerly Twitter) to “KILL the BILL,” arguing that the proposal eliminates federal electric-vehicle tax credits and slows the country’s transition away from fossil fuels. The South African–born entrepreneur warned that the legislation would make U.S. EVs “uncompetitive overnight” and threatened to relocate future battery-plant investments to Canada if the credits are scrapped. The president fired back by hinting he could direct federal agencies to “review” SpaceX’s lucrative NASA and Pentagon launch contracts—an implicit threat that sent Tesla shares down 4 percent in midday trading. Later, a senior administration official told Reuters that no formal review has begun but acknowledged “all options are on the table.” Behind the scenes, advisers to both men say the rift has been brewing since Musk abruptly quit the White House Innovation Council last week, alleging the president ignored his recommendations on A.I. safety and space commercialization. Axios reports that Musk’s frustration peaked after learning the tax bill would hike import duties on lithium mined outside North America—potentially raising costs for Tesla’s next-generation batteries. Political strategists say the feud carries 2026 election implications. Musk’s 135 million X followers represent a prized online constituency, especially among independent and tech-savvy voters. Yet Trump’s base applauds his hard-line stance; a quick-fire fundraising email sent minutes after his Oval Office remarks netted the campaign “its best hour of the month,” according to a senior aide. Investors are bracing for further volatility. Goldman Sachs issued a client note predicting Tesla could lose up to $1.8 billion in U.S. EV credits through 2030 if the bill passes unchanged. Meanwhile, the S&P Aerospace & Defense index slid 1.6 percent on fears of retaliation against SpaceX rivals that rely on Falcon 9 launches. What’s next? Senate Majority Leader Linda Martínez confirmed floor debate on the tax package will begin Monday, with multiple amendments already filed to restore at least partial EV incentives. Musk vowed to keep lobbying: “Clean energy is non-partisan. We’ll fight this every step,” he posted early Thursday. For now, the Trump-Musk clash shows no signs of cooling—and Washington’s most unpredictable relationship just became a defining storyline for both Wall Street and the 2026 campaign trail.