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Irish Times
2 hours ago
- Irish Times
‘Trump likes this German': Merz Oval Office test gets approval back home
Donald Trump cherishes his German heritage so much that, for years, he claimed his father's roots were in Sweden. That was a big personal reason – ahead of Ukraine or trade uncertainty – why Friedrich Merz was on high alert for his inaugural visit with the US president in the Oval Office. And that is why he ramped up the personal, and dispelled those Sweden rumours for good, by presenting the president with the calligraphic birth certificate of his grandfather. As Trump's admiring eye drifted to the golden frame, Merz kept shtum on why the same grandfather was run out of the Kingdom of Bavaria for good: for not doing his military service. Some things run in the family. READ MORE Before returning to Germany, a relieved Merz said he had felt Trump was 'a person I can speak to well on a very personal level'. Germany and the US had, he added, 'laid a foundation today for good personal but also political talk leading to constructive political goals'. In a private meeting Merz said the two had discussed the growing trade spat and, despite the EU lead here in Europe, promised 'close co-operation and special representatives' to shuttle between Berlin and Washington. Merz said that, in their meeting, he 'thought he succeeded' in impressing on Trump how German-owned car plants based in the US export as many cars to the rest of the world as BMW, Volkswagen and others export to the US. After leaving the White House, Merz was asked on Fox News about calls to ban the far-right Alternative for Germany (AfD), a move Merz views with a sceptical eye. He said his country cherished freedom of expression and allowed everyone to run for parliament. He also brushed off claims from US secretary of state Marco Rubio that Germany was drifting into 'tyranny', saying the issue 'was behind us' and had not come up in talks with Trump. [ Trade tensions simmer under surface of cordial White House meeting between Trump and Merz Opens in new window ] 'Germany is a mature democracy,' he said, 'and that's why we don't need lectures from outside.' When Fox asked about the spike in anti-Semitic attacks in Germany, as presented in a report this week , Merz attributed this to a struggle with 'imported anti-Semitism through all the migrants we've had in the last years'. Given that dealing with Russia was 'extremely complicated', Merz said he had asked the US president to intervene more strongly. And what of Trump's claim that, had he been president in 2022 Russia would never have invaded Ukraine ? Merz replied diplomatically: 'Speculation.' After Trump's chilly dealings with Angela Merkel – referred to by the US president curtly as 'her' – Merz was aiming to trigger a thaw, even if that meant smiling away Trump's second World War jokes. And on Friday morning a relieved Frankfurter Allgemeine joked that, with Trump, 'even criticism can be flattery'. This referred to Trump's joke that Merz can be 'difficult', to which the chancellor just smiled and nodded. 'Trump could use someone to talk to in Europe to solve problems, such as the Ukraine war,' the newspaper noted. 'During the chancellor's visit to the White House, it looked like Merz could be that partner.' The centre-left Süddeutsche Zeitung, no fan of Merz, headlined its editorial: 'Trump likes this German'. It admitted that Merz had apparently managed to build up a personal relationship with Trump. He also listened quietly while the president mentioned casually he would not withdraw troops from Europe, as threatened, after all. 'It speaks for Merz that he spoke up for Ukraine, whenever he was allowed speak,' the Süddeutsche noted. 'But the chancellor's demand that Trump increase pressure on Putin, Trump ignored that deliberately. The visit may have gone well for Merz, for Ukraine the result is devastating.'
The Journal
3 hours ago
- The Journal
That escalated quickly: How the Trump-Musk bromance went up in flames in a matter of days
AFTER SPENDING THE first four months as the darling of the second Trump administration and the MAGA movement, Elon Musk has, as he might phrase it , put that goodwill through the wood chipper in a matter of days. Having been brought on board by Trump to oversee the so-called Department of Government Efficiency (DOGE), Musk and his employees went about gutting the budgets of government departments and agencies, leading hundreds of thousands of people to lose their jobs. This, he consistently said, was all in the name of ridding the US government of 'waste, fraud and abuse', in order to bring down the country's massive debt and budget deficit. While largely avoiding transparency, DOGE has released data it said shows the total amount of spending it has cut, but analysis from multiple US news outlets has found those figures to be shoddily cobbled together and unreliable. Musk poured huge amounts of money into Trump's campaign and also funded a conservative candidate's run for a seat on Pennsylvania's supreme court this year, which was won by the more liberal candidate. Musk has in recent weeks complained about how he was treated by the public and media while working for the Trump administration, showing signs he was growing tired of politics and the public scrutiny that comes with it. Having reached the 130-day limit for special government employees, Musk departed the White House last week on what appeared to be cordial terms, although Axios reported he was denied an extension to his time in government. The White House posted a video on its website summing up Musk's time in the administration with the message: 'DOGE is WINNING! Thank you Elon!' The White House / YouTube 'You know you did wrong' But with Trump's signature 'big beautiful' spending bill passing through the House of Representatives, the Tesla, Starlink and SpaceX owner has come out against the proposed legislation publicly, saying it would wipe out the savings he claims DOGE made under his stewardship. The bill will now be the subject of weeks of debate in the Senate, where it will likely undergo some changes. 'I'm sorry, but I just can't stand it anymore, Musk wrote on X on Tuesday. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. 'Shame on those who voted for it: you know you did wrong,' Musk said. The bill is set to add around $3 trillion to US deficits over a 10-year period, despite deep cuts to healthcare supports and food aid programs. The nonpartisan Congressional Budget Office found that the combined effects of tax cuts and cost savings would constitute a giant transfer of wealth from the poorest 10% of Americans to the richest 10%. Musk said the bill would burden 'citizens with crushingly unsustainable debt.' It wasn't the first time Musk had voiced opposition to the bill, but this week's attacks have raised the stakes. 'I don't mind Elon turning against me,' Trump wrote on social media yesterday, 'but he should have done so months ago. This is one of the Greatest Bills ever presented to Congress.' Is it time to create a new political party in America that actually represents the 80% in the middle? — Elon Musk (@elonmusk) June 5, 2025 The deficit is the difference between the money the government makes and the money it spends. If the government spends more than it collects in revenues, it's running a deficit. The federal debt, which currently stands at $36.9 trillion, is the total of accumulated deficits. The federal debt and deficit has been a perennial concern for the Republican Party for decades. If his criticisms of the bill are to be taken seriously, Musk only now appears to be realising that the GOP has never followed through on addressing those stated concerns, and in fact has historically been the party responsible for increasing it the most . Yes — Elon Musk (@elonmusk) June 5, 2025 'Wearing thin' Whether or not Musk is genuinely concerned about the debt and deficit, and how it will be affected by Trump's bill, there are aspects of the legislation that are set to directly impact the bottom line of his electric car company – Tesla. As written, the 'One Big Beautiful Bill Act' will reverse the financial incentives that encourage people to buy electric vehicles (EVs). The bill would mostly phase out Biden's clean vehicle tax credit, which lets EV buyers claim up to $7,500, and also provides up to $4,000 for people buying second-hand EVs, after 2026. Advertisement However, the credit would actually be done away with by the end of this year if the EVs purchased are manufactured by companies that sold more than 200,000 units between 31 December 2009 and 31 December 2025 - a reversion to the pre-Biden situation for EV credits. Trump showed his support for Musk and Tesla amid protests against the company in March 2025 Alamy Stock Photo Alamy Stock Photo This would make buying a Tesla, which has sold far more than 200,000 EVs since 2009, more expensive for American customers. The bill would also add a new $250 annual fee for EV drivers, which would be collected by the Federal Highway Administration. Yesterday, Trump said in a Truth Social post: 'Elon was 'wearing thin,' I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!' Trump is now threatening to cut all subsidies that support Musk's businesses, which are substantial. 'I was always surprised Biden didn't do it!' he wrote on his social media platform. A Truth Social post by Donald Trump from 5 June 2025 The Journal The Journal Only last year Musk was calling for the credits to be cut , saying that it would hurt his competitors and 'only help Tesla'. 'Also, remove subsidies from all industries,' he added. That tune seems to have changed. It's not just the car manufacturing part of Tesla that would be affected by cutting the EV credits though, the company's energy storage arm Tesla Energy would also be hurt by the bill. On 29 May, Tesla Energy said: 'Abruptly ending the energy tax credits would threaten America's energy independence and the reliability of our grid.' Abruptly ending the energy tax credits would threaten America's energy independence and the reliability of our grid - we urge the senate to enact legislation with a sensible wind down of 25D and 48e. This will ensure continued speedy deployment of over 60 GW capacity per year to… — Tesla Energy (@teslaenergy) May 29, 2025 Tesla's market value had surged in the lead-up to Trump's inauguration and investors saw Musk's proximity to the administration as a good omen for the company. Those gains were largely wiped out this year as Musk became a lightning rod for public outrage over Trump's policies, among other more fundamental factors related to the company's performance. Tesla sales have slumped significantly since last year as more competitors have entered the EV market and deliveries have fallen short of forecasts. Since Musk and Trump's very public – and ongoing – falling out this week, Tesla stock has plummeted; the company's market capitalisation has dropped by more than 14% today alone. 'Very disappointed' While Trump was hosting German Chancellor Friedrich Merz in the Oval Office yesterday, the current spat with Musk inevitably came up. 'I'm very disappointed in Elon. I've helped Elon a lot,' Trump told reporters. 'Elon and I had a great relationship. I don't know if we will anymore.' Musk responded on his social media site X by saying Trump would not have won the 2024 election without him and complaining about Trump's 'ingratitude.' Musk also posted that Trump 'is in the Epstein files'. 'That is the real reason they have not been made public. Have a nice day, DJT!.' White House Press Secretary Karoline Leavitt told AFP that Musk's Epstein tweet 'is an unfortunate episode from Elon, who is unhappy with the 'One Big Beautiful Bill' because it does not include the policies he wanted.' The 'Epstein files' refers to information related to the deceased child sex trafficker Jeffrey Epstein, who once said he was Trump's 'closest friend'. Musk is also now backing calls for the US president to be impeached. With reporting from AFP Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
Irish Daily Mirror
4 hours ago
- Irish Daily Mirror
Tesla shares recover after Trump-Musk spat knocks €131bn off valuation
Tesla shares made a slight recovery on Friday after a bitter war of words between Elon Musk and Donald Trump forced the company to drop around $150b (€131bn) in valuation. Trump threatened to cut Musk's government contracts as their fractured alliance rapidly escalated into a public feud, with the US President suggesting he would use the US government to hurt his fellow billionaire financially. Musk claimed that Trump's administration has not released all the records related to sex abuser Jeffrey Epstein because Trump is mentioned in them. The tech entrepreneur even shared a post on social media calling for Trump's impeachment and skewered the President's signature tariffs, predicting a recession this year. The messy blow-up between the President of the United States and the world's richest man played out on their respective social media platforms after Trump was asked during a White House meeting with Germany's new leader about Musk's criticism of his spending bill. After Trump started criticising Musk, Tesla shares plunged more than 14%, knocking about €131bn off Tesla's market valuation. Musk lost about $20bn (€17.5bn) on his personal holding of Tesla. However, on Friday, shares were up 5% in pre-market trading after Musk signalled on X he was open to easing tensions with Trump, agreeing with comments from hedge fund manager Bill Ackman calling for a detente. Tesla shares doubled in the weeks after Trump was elected, gave back those gains and more during Musk's time at the Department of Government Efficiency (Doge) and then rallied after he vowed in April to focus much more on Tesla and his other companies. Musk later offered up an especially stinging insult to a president sensitive about his standing among voters: 'Without me, Trump would have lost the election.' 'Such ingratitude,' Mr Musk said in a follow-up post. Politicians and their donor patrons rarely see eye to eye. But the magnitude of Musk's support for Trump, spending at least $250m backing his campaign, and the scope of free rein the President gave him to slash and delve into the government with Doge is eclipsed only by the speed of their falling out. Musk announced his support for Trump shortly after the then-candidate was nearly assassinated on stage at a rally in Butler, Pennsylvania, last July. News of Mr Musk's political action committee in support of Mr Trump's election came days later. Musk soon became a close adviser and frequent companion, memorably leaping in the air behind Trump on stage at a rally in October. Once Trump was elected, the tech billionaire stood behind him as he took the oath of office, flew with him on Air Force One for weekend stays at Mr Trump's Mar-a-Lago club in Palm Beach, Florida, slept in the White House's Lincoln Bedroom at the president's invitation and joined his cabinet meetings wearing a MAGA hat.
