Musk picks a fight with the White House and Tesla loses
After the world's least surprising blowup, we the people are reportedly to be treated to its least convincing truce.
Investors in Tesla, nominally run by Elon Musk, the chief-buddy-turned-chief-critic of President Donald Trump, are apparently relieved. The stock bounced in trading on Friday (Saturday AEST) after Thursday's epic slide took Tesla's value back below $US1 trillion ($1.5 trillion).
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The Advertiser
an hour ago
- The Advertiser
US and China set for new trade talks in London
Three of US President Donald Trump's top aides are set to meet with their Chinese counterparts in London for talks aimed at resolving a trade dispute between the governments of the world's two largest economies that has kept global markets on edge. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent the United States in the talks on Monday, Trump announced in a post on his Truth Social platform. China's foreign ministry said on Saturday that Vice Premier He Lifeng will be in the United Kingdom between Sunday and Friday, adding that the first meeting of the China-US economic and trade consultation mechanism would be held during this visit. "The meeting should go very well," Trump wrote. The first meeting of the China-US economic and trade consultation mechanism will be held with the United States during He's visit, Chinese authorities said. He led the Chinese side in the first round of trade talks that took place in Switzerland in May. Trump spoke to Chinese President Xi Jinping on Thursday in a rare leader-to-leader call amid weeks of brewing trade tensions and a dispute over critical minerals. Trump and Xi agreed to visit one another and asked their staffs to hold talks in the meantime. Both countries are under pressure to relieve tensions, with the global economy under pressure over Chinese control over the rare earth mineral exports of which it is the dominant producer and investors more broadly anxious about Trump's wider effort to impose tariffs on goods from most US trading partners. China, meanwhile, has seen its own supply of key US imports like chip-design software and nuclear plant parts curtailed. The countries struck a 90-day deal on May 12 in Switzerland to roll back some of the triple-digit, tit-for-tat tariffs they had placed on each other since Trump returned to the presidency in January. That preliminary deal sparked a global relief rally in stock markets, and US indexes that had been in or near bear market levels have recouped the lion's share of their losses. The S&P 500 stock index, which at its lowest point in early April was down nearly 18 per cent after Trump unveiled his sweeping "Liberation Day" tariffs on goods from across the globe, is now only about 2 per cent below its record high from mid-February. The final third of that rally followed the US-China truce struck in Geneva. Still, that temporary deal did not address broader concerns that strain the bilateral relationship, from the illicit fentanyl trade to the status of democratically governed Taiwan and US complaints about China's state-dominated export-driven economic model. Three of US President Donald Trump's top aides are set to meet with their Chinese counterparts in London for talks aimed at resolving a trade dispute between the governments of the world's two largest economies that has kept global markets on edge. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent the United States in the talks on Monday, Trump announced in a post on his Truth Social platform. China's foreign ministry said on Saturday that Vice Premier He Lifeng will be in the United Kingdom between Sunday and Friday, adding that the first meeting of the China-US economic and trade consultation mechanism would be held during this visit. "The meeting should go very well," Trump wrote. The first meeting of the China-US economic and trade consultation mechanism will be held with the United States during He's visit, Chinese authorities said. He led the Chinese side in the first round of trade talks that took place in Switzerland in May. Trump spoke to Chinese President Xi Jinping on Thursday in a rare leader-to-leader call amid weeks of brewing trade tensions and a dispute over critical minerals. Trump and Xi agreed to visit one another and asked their staffs to hold talks in the meantime. Both countries are under pressure to relieve tensions, with the global economy under pressure over Chinese control over the rare earth mineral exports of which it is the dominant producer and investors more broadly anxious about Trump's wider effort to impose tariffs on goods from most US trading partners. China, meanwhile, has seen its own supply of key US imports like chip-design software and nuclear plant parts curtailed. The countries struck a 90-day deal on May 12 in Switzerland to roll back some of the triple-digit, tit-for-tat tariffs they had placed on each other since Trump returned to the presidency in January. That preliminary deal sparked a global relief rally in stock markets, and US indexes that had been in or near bear market levels have recouped the lion's share of their losses. The S&P 500 stock index, which at its lowest point in early April was down nearly 18 per cent after Trump unveiled his sweeping "Liberation Day" tariffs on goods from across the globe, is now only about 2 per cent below its record high from mid-February. The final third of that rally followed the US-China truce struck in Geneva. Still, that temporary deal did not address broader concerns that strain the bilateral relationship, from the illicit fentanyl trade to the status of democratically governed Taiwan and US complaints about China's state-dominated export-driven economic model. Three of US President Donald Trump's top aides are set to meet with their Chinese counterparts in London for talks aimed at resolving a trade dispute between the governments of the world's two largest economies that has kept global markets on edge. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent the United States in the talks on Monday, Trump announced in a post on his Truth Social platform. China's foreign ministry said on Saturday that Vice Premier He Lifeng will be in the United Kingdom between Sunday and Friday, adding that the first meeting of the China-US economic and trade consultation mechanism would be held during this visit. "The meeting should go very well," Trump wrote. The first meeting of the China-US economic and trade consultation mechanism will be held with the United States during He's visit, Chinese authorities said. He led the Chinese side in the first round of trade talks that took place in Switzerland in May. Trump spoke to Chinese President Xi Jinping on Thursday in a rare leader-to-leader call amid weeks of brewing trade tensions and a dispute over critical minerals. Trump and Xi agreed to visit one another and asked their staffs to hold talks in the meantime. Both countries are under pressure to relieve tensions, with the global economy under pressure over Chinese control over the rare earth mineral exports of which it is the dominant producer and investors more broadly anxious about Trump's wider effort to impose tariffs on goods from most US trading partners. China, meanwhile, has seen its own supply of key US imports like chip-design software and nuclear plant parts curtailed. The countries struck a 90-day deal on May 12 in Switzerland to roll back some of the triple-digit, tit-for-tat tariffs they had placed on each other since Trump returned to the presidency in January. That preliminary deal sparked a global relief rally in stock markets, and US indexes that had been in or near bear market levels have recouped the lion's share of their losses. The S&P 500 stock index, which at its lowest point in early April was down nearly 18 per cent after Trump unveiled his sweeping "Liberation Day" tariffs on goods from across the globe, is now only about 2 per cent below its record high from mid-February. The final third of that rally followed the US-China truce struck in Geneva. Still, that temporary deal did not address broader concerns that strain the bilateral relationship, from the illicit fentanyl trade to the status of democratically governed Taiwan and US complaints about China's state-dominated export-driven economic model. Three of US President Donald Trump's top aides are set to meet with their Chinese counterparts in London for talks aimed at resolving a trade dispute between the governments of the world's two largest economies that has kept global markets on edge. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent the United States in the talks on Monday, Trump announced in a post on his Truth Social platform. China's foreign ministry said on Saturday that Vice Premier He Lifeng will be in the United Kingdom between Sunday and Friday, adding that the first meeting of the China-US economic and trade consultation mechanism would be held during this visit. "The meeting should go very well," Trump wrote. The first meeting of the China-US economic and trade consultation mechanism will be held with the United States during He's visit, Chinese authorities said. He led the Chinese side in the first round of trade talks that took place in Switzerland in May. Trump spoke to Chinese President Xi Jinping on Thursday in a rare leader-to-leader call amid weeks of brewing trade tensions and a dispute over critical minerals. Trump and Xi agreed to visit one another and asked their staffs to hold talks in the meantime. Both countries are under pressure to relieve tensions, with the global economy under pressure over Chinese control over the rare earth mineral exports of which it is the dominant producer and investors more broadly anxious about Trump's wider effort to impose tariffs on goods from most US trading partners. China, meanwhile, has seen its own supply of key US imports like chip-design software and nuclear plant parts curtailed. The countries struck a 90-day deal on May 12 in Switzerland to roll back some of the triple-digit, tit-for-tat tariffs they had placed on each other since Trump returned to the presidency in January. That preliminary deal sparked a global relief rally in stock markets, and US indexes that had been in or near bear market levels have recouped the lion's share of their losses. The S&P 500 stock index, which at its lowest point in early April was down nearly 18 per cent after Trump unveiled his sweeping "Liberation Day" tariffs on goods from across the globe, is now only about 2 per cent below its record high from mid-February. The final third of that rally followed the US-China truce struck in Geneva. Still, that temporary deal did not address broader concerns that strain the bilateral relationship, from the illicit fentanyl trade to the status of democratically governed Taiwan and US complaints about China's state-dominated export-driven economic model.
The Advertiser
an hour ago
- The Advertiser
Vance downplays row between Trump, 'emotional guy' Musk
US Vice President JD Vance says Elon Musk was making a "huge mistake" going after President Donald Trump in a storm of bitter and inflammatory social media posts after a falling out between the two men. But the vice president, in a podcast interview released after the very public blow up between the world's richest man and arguably the world's most powerful, also tried to downplay Musk's blistering attacks as an "emotional guy" who got frustrated. "I hope that eventually Elon comes back into the fold. Maybe that's not possible now because he's gone so nuclear," Vance said. Vance's comments come as other Republicans in recent days have urged the two men, who months ago were close allies spending significant time together, to mend fences. Musk's torrent of social media posts attacking Trump came as the president portrayed him as disgruntled and "crazy" and threatened to cut the government contracts held by his businesses. Musk, who runs electric vehicle maker Tesla, internet company Starlink and rocket company SpaceX, lambasted Trump's centrepiece tax cuts and spending bill but also suggested Trump should be impeached and claimed without evidence that the government was concealing information about the president's association with paedophile Jeffrey Epstein. "Look, it happens to everybody," Vance said in the interview with comedian Theo Von. "I've flown off the handle way worse than Elon Musk did in the last 24 hours." Vance told Von that as Musk for days was calling on social media for the US Congress to kill Trump's "Big Beautiful Bill," the president was "getting a little frustrated, feeling like some of the criticisms were unfair coming from Elon, but I think has been very restrained because the president doesn't think that he needs to be in a blood feud with Elon Musk". "I actually think if Elon chilled out a little bit, everything would be fine," he added. Musk had by Saturday morning deleted his X posts about Trump and Epstein. The interview was recording on Thursday as Musk's posts were unfurling on X, the social media network the billionaire owns. During the interview, Von showed the vice president Musk's claim that Trump's administration hasn't released all the records related to sex abuser Jeffrey Epstein because Trump is mentioned in them. Vance responded to that, saying "Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein". "This stuff is just not helpful," Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. "It's totally insane. The president is doing a good job." Vance called Musk an "incredible entrepreneur" and said that Musk's Department of Government Efficiency, which sought to cut government spending and laid off or pushed out thousands of workers, was "really good". The vice president also defended the bill that has drawn Musk's ire, and said its central goal was not to cut spending but to extend the 2017 tax cuts approved in Trump's first term. Musk has warned that the bill will increase the federal deficit and called it a "disgusting abomination". "It's a good bill," Vance said. "It's not a perfect bill." Trump indicated in a phone interview with NBC on Saturday that he has no plans to make up with Musk. Asked specifically if he thought his relationship with Musk is over, Trump responded "I would assume so, yeah". "No," Trump told NBC when asked if he had any desire to repair his relationship with Musk. "I have no intention of speaking to him," Trump said. However, Trump said he had not thought about terminating US government contracts with Musk's StarLink satellite internet or SpaceX rocket launch companies. with AP US Vice President JD Vance says Elon Musk was making a "huge mistake" going after President Donald Trump in a storm of bitter and inflammatory social media posts after a falling out between the two men. But the vice president, in a podcast interview released after the very public blow up between the world's richest man and arguably the world's most powerful, also tried to downplay Musk's blistering attacks as an "emotional guy" who got frustrated. "I hope that eventually Elon comes back into the fold. Maybe that's not possible now because he's gone so nuclear," Vance said. Vance's comments come as other Republicans in recent days have urged the two men, who months ago were close allies spending significant time together, to mend fences. Musk's torrent of social media posts attacking Trump came as the president portrayed him as disgruntled and "crazy" and threatened to cut the government contracts held by his businesses. Musk, who runs electric vehicle maker Tesla, internet company Starlink and rocket company SpaceX, lambasted Trump's centrepiece tax cuts and spending bill but also suggested Trump should be impeached and claimed without evidence that the government was concealing information about the president's association with paedophile Jeffrey Epstein. "Look, it happens to everybody," Vance said in the interview with comedian Theo Von. "I've flown off the handle way worse than Elon Musk did in the last 24 hours." Vance told Von that as Musk for days was calling on social media for the US Congress to kill Trump's "Big Beautiful Bill," the president was "getting a little frustrated, feeling like some of the criticisms were unfair coming from Elon, but I think has been very restrained because the president doesn't think that he needs to be in a blood feud with Elon Musk". "I actually think if Elon chilled out a little bit, everything would be fine," he added. Musk had by Saturday morning deleted his X posts about Trump and Epstein. The interview was recording on Thursday as Musk's posts were unfurling on X, the social media network the billionaire owns. During the interview, Von showed the vice president Musk's claim that Trump's administration hasn't released all the records related to sex abuser Jeffrey Epstein because Trump is mentioned in them. Vance responded to that, saying "Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein". "This stuff is just not helpful," Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. "It's totally insane. The president is doing a good job." Vance called Musk an "incredible entrepreneur" and said that Musk's Department of Government Efficiency, which sought to cut government spending and laid off or pushed out thousands of workers, was "really good". The vice president also defended the bill that has drawn Musk's ire, and said its central goal was not to cut spending but to extend the 2017 tax cuts approved in Trump's first term. Musk has warned that the bill will increase the federal deficit and called it a "disgusting abomination". "It's a good bill," Vance said. "It's not a perfect bill." Trump indicated in a phone interview with NBC on Saturday that he has no plans to make up with Musk. Asked specifically if he thought his relationship with Musk is over, Trump responded "I would assume so, yeah". "No," Trump told NBC when asked if he had any desire to repair his relationship with Musk. "I have no intention of speaking to him," Trump said. However, Trump said he had not thought about terminating US government contracts with Musk's StarLink satellite internet or SpaceX rocket launch companies. with AP US Vice President JD Vance says Elon Musk was making a "huge mistake" going after President Donald Trump in a storm of bitter and inflammatory social media posts after a falling out between the two men. But the vice president, in a podcast interview released after the very public blow up between the world's richest man and arguably the world's most powerful, also tried to downplay Musk's blistering attacks as an "emotional guy" who got frustrated. "I hope that eventually Elon comes back into the fold. Maybe that's not possible now because he's gone so nuclear," Vance said. Vance's comments come as other Republicans in recent days have urged the two men, who months ago were close allies spending significant time together, to mend fences. Musk's torrent of social media posts attacking Trump came as the president portrayed him as disgruntled and "crazy" and threatened to cut the government contracts held by his businesses. Musk, who runs electric vehicle maker Tesla, internet company Starlink and rocket company SpaceX, lambasted Trump's centrepiece tax cuts and spending bill but also suggested Trump should be impeached and claimed without evidence that the government was concealing information about the president's association with paedophile Jeffrey Epstein. "Look, it happens to everybody," Vance said in the interview with comedian Theo Von. "I've flown off the handle way worse than Elon Musk did in the last 24 hours." Vance told Von that as Musk for days was calling on social media for the US Congress to kill Trump's "Big Beautiful Bill," the president was "getting a little frustrated, feeling like some of the criticisms were unfair coming from Elon, but I think has been very restrained because the president doesn't think that he needs to be in a blood feud with Elon Musk". "I actually think if Elon chilled out a little bit, everything would be fine," he added. Musk had by Saturday morning deleted his X posts about Trump and Epstein. The interview was recording on Thursday as Musk's posts were unfurling on X, the social media network the billionaire owns. During the interview, Von showed the vice president Musk's claim that Trump's administration hasn't released all the records related to sex abuser Jeffrey Epstein because Trump is mentioned in them. Vance responded to that, saying "Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein". "This stuff is just not helpful," Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. "It's totally insane. The president is doing a good job." Vance called Musk an "incredible entrepreneur" and said that Musk's Department of Government Efficiency, which sought to cut government spending and laid off or pushed out thousands of workers, was "really good". The vice president also defended the bill that has drawn Musk's ire, and said its central goal was not to cut spending but to extend the 2017 tax cuts approved in Trump's first term. Musk has warned that the bill will increase the federal deficit and called it a "disgusting abomination". "It's a good bill," Vance said. "It's not a perfect bill." Trump indicated in a phone interview with NBC on Saturday that he has no plans to make up with Musk. Asked specifically if he thought his relationship with Musk is over, Trump responded "I would assume so, yeah". "No," Trump told NBC when asked if he had any desire to repair his relationship with Musk. "I have no intention of speaking to him," Trump said. However, Trump said he had not thought about terminating US government contracts with Musk's StarLink satellite internet or SpaceX rocket launch companies. with AP US Vice President JD Vance says Elon Musk was making a "huge mistake" going after President Donald Trump in a storm of bitter and inflammatory social media posts after a falling out between the two men. But the vice president, in a podcast interview released after the very public blow up between the world's richest man and arguably the world's most powerful, also tried to downplay Musk's blistering attacks as an "emotional guy" who got frustrated. "I hope that eventually Elon comes back into the fold. Maybe that's not possible now because he's gone so nuclear," Vance said. Vance's comments come as other Republicans in recent days have urged the two men, who months ago were close allies spending significant time together, to mend fences. Musk's torrent of social media posts attacking Trump came as the president portrayed him as disgruntled and "crazy" and threatened to cut the government contracts held by his businesses. Musk, who runs electric vehicle maker Tesla, internet company Starlink and rocket company SpaceX, lambasted Trump's centrepiece tax cuts and spending bill but also suggested Trump should be impeached and claimed without evidence that the government was concealing information about the president's association with paedophile Jeffrey Epstein. "Look, it happens to everybody," Vance said in the interview with comedian Theo Von. "I've flown off the handle way worse than Elon Musk did in the last 24 hours." Vance told Von that as Musk for days was calling on social media for the US Congress to kill Trump's "Big Beautiful Bill," the president was "getting a little frustrated, feeling like some of the criticisms were unfair coming from Elon, but I think has been very restrained because the president doesn't think that he needs to be in a blood feud with Elon Musk". "I actually think if Elon chilled out a little bit, everything would be fine," he added. Musk had by Saturday morning deleted his X posts about Trump and Epstein. The interview was recording on Thursday as Musk's posts were unfurling on X, the social media network the billionaire owns. During the interview, Von showed the vice president Musk's claim that Trump's administration hasn't released all the records related to sex abuser Jeffrey Epstein because Trump is mentioned in them. Vance responded to that, saying "Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein". "This stuff is just not helpful," Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. "It's totally insane. The president is doing a good job." Vance called Musk an "incredible entrepreneur" and said that Musk's Department of Government Efficiency, which sought to cut government spending and laid off or pushed out thousands of workers, was "really good". The vice president also defended the bill that has drawn Musk's ire, and said its central goal was not to cut spending but to extend the 2017 tax cuts approved in Trump's first term. Musk has warned that the bill will increase the federal deficit and called it a "disgusting abomination". "It's a good bill," Vance said. "It's not a perfect bill." Trump indicated in a phone interview with NBC on Saturday that he has no plans to make up with Musk. Asked specifically if he thought his relationship with Musk is over, Trump responded "I would assume so, yeah". "No," Trump told NBC when asked if he had any desire to repair his relationship with Musk. "I have no intention of speaking to him," Trump said. However, Trump said he had not thought about terminating US government contracts with Musk's StarLink satellite internet or SpaceX rocket launch companies. with AP
9 News
an hour ago
- 9 News
Trump threatens 'consequences' if Musk backs Democrats
Your web browser is no longer supported. To improve your experience update it here US President Donald Trump is not backing off his battle with Elon Musk , saying overnight that he has no desire to repair their relationship and warning that his former ally and campaign benefactor could face "serious consequences" if he tries to help Democrats in upcoming elections. Trump told NBC's Kristen Welker in a phone interview that he has no plans to make up with Musk. Asked specifically if he thought his relationship with the mega-billionaire CEO of Tesla and SpaceX is over, Trump responded, "I would assume so, yeah." "I'm too busy doing other things," Trump continued. Happier times - Elon Musk, Donald Trump, and JD Vance. (AP) "You know, I won an election in a landslide. I gave him a lot of breaks, long before this happened, I gave him breaks in my first administration, and saved his life in my first administration, I have no intention of speaking to him." The president also issued a warning amid chatter that Musk could back Democratic lawmakers and candidates in the 2026 midterm elections. "If he does, he'll have to pay the consequences for that," Trump told NBC , though he declined to share what those consequences would be. Musk's businesses have many lucrative federal contracts. Vance said Musk had made a mistake in attacking Trump. (AP) The president's latest comments suggest Musk is moving from close ally to a potential new target for Trump, who has aggressively wielded the powers of his office to crack down on critics and punish perceived enemies. As a major government contractor, Musk's businesses could be particularly vulnerable to retribution. Trump has already threatened to cut Musk's contracts, calling it an easy way to save money. The dramatic rupture between the president and the world's richest man began this week with Musk's public criticism of Trump's "big beautiful bill" pending on Capitol Hill. Musk has warned that the bill will increase the federal deficit and called it a "disgusting abomination." Musk claimed, without evidence, Donald Trump was in the "Epstein file". (AP) Trump criticised Musk in the Oval Office, and before long, he and Musk began trading bitterly personal attacks on social media, sending the White House and GOP congressional leaders scrambling to assess the fallout. As the back-and-forth intensified, Musk suggested Trump should be impeached and claimed without evidence that the government was concealing information about the president's association with infamous paedophile Jeffrey Epstein. Musk appeared by Saturday morning to have deleted his posts about Epstein. Vice President JD Vance in an interview tried to downplay the feud. He said Musk was making a "huge mistake" going after Trump, but called him an "emotional guy" getting frustrated. "I hope that eventually Elon comes back into the fold. Maybe that's not possible now because he's gone so nuclear," Vance said. Vance called Musk an "incredible entrepreneur," and said that Musk's Department of Government Efficiency, which sought to cut government spending and laid off or pushed out thousands of workers, was "really good." Vance made the comments in an interview with "manosphere" comedian Theo Von, who last month joked about snorting drugs off a mixed-race baby and the sexuality of men in the US Navy when he opened for Trump at a military base in Qatar. The Vance interview was taped on Thursday as Musk's posts were unfurling on X, the social media network the billionaire owns. During the interview, Von showed the vice president Musk's claim that Trump's administration hasn't released all the records related to Epstein because Trump is mentioned in them. Vance responded to that, saying, "Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein." "This stuff is just not helpful," Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. "It's totally insane. The president is doing a good job." Vance also defended the bill that has drawn Musk's ire, and said its central goal was not to cut spending but to extend the 2017 tax cuts approved in Trump's first term. The bill would slash spending and taxes but also leave some 10.9 million more people without health insurance and spike deficits by US$2.4 trillion ($3.7 trillion) over the decade, according to the nonpartisan Congressional Budget Office. "It's a good bill," Vance said. "It's not a perfect bill." The interview was taped in Nashville at a restaurant owned by musician Kid Rock, a Trump ally. Donald Trump elon musk US POLITICS USA World CONTACT US Property News: The last inner Sydney suburbs where houses cost under $2m.
