logo
Trump says Musk to face ‘very serious consequences' if he funds Democrats

Trump says Musk to face ‘very serious consequences' if he funds Democrats

Straits Times8 hours ago

US President Donald Trump (left) told NBC News he had no desire to repair his relationship with billionaire Elon Musk. PHOTO: AFP
Trump says Musk to face 'very serious consequences' if he funds Democrats
BEDMINSTER, New Jersey - Donald Trump said on June 7 there would be 'serious consequences' if Elon Musk funds US Democrats running against Republicans who vote for the president's sweeping tax-cut and spending Bill and said his relationship with his billionaire donor is over.
In a telephone interview with NBC News, Mr Trump declined to say what those consequences would be, and went on to add that he had not had discussions about whether to investigate Mr Musk.
Asked if he thought his relationship with the Tesla and SpaceX chief executive officer was over, Mr Trump said, 'I would assume so, yeah.'
'No,' Mr Trump told NBC when asked if he had any desire to repair his relationship with Mr Musk.
Mr Musk and Mr Trump began exchanging insults this week, as Mr Musk denounced Mr Trump's Bill as a 'disgusting abomination.'
Mr Musk's opposition to the measure is complicating efforts to pass the Bill in Congress, where Republicans hold a slim majority in the House of Representatives and Senate.
The Bill narrowly passed the House in May and is now before the Senate, where Mr Trump's fellow Republicans are considering making changes. Nonpartisan analysts estimate the measure would add US$2.4 trillion (S$3 trillion) to the US debt over 10 years.
Mr Trump said on June 7 he was confident the Bill would get passed by the US July 4 Independence Day holiday.
'In fact, yeah, people that were, were going to vote for it are now enthusiastically going to vote for it, and we expect it to pass,' Mr Trump told NBC.
Mr Musk had deleted some social media posts critical of Mr Trump, including one that signalled support for impeaching the president, appearing to seek a de-escalation of their public feud, which exploded on June 5.
Mr Trump late on June 6 suggested a review of federal government contracts held by Mr Musk.
People who have spoken to Mr Musk said his anger has begun to recede and they think he will want to repair his relationship with Mr Trump. REUTERS
Join ST's Telegram channel and get the latest breaking news delivered to you.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump says Musk relationship over, warns of 'serious consequences' if he funds Democrats
Trump says Musk relationship over, warns of 'serious consequences' if he funds Democrats

CNA

timean hour ago

  • CNA

Trump says Musk relationship over, warns of 'serious consequences' if he funds Democrats

NEW JERSEY: Donald Trump said on Saturday (Jun 7) his relationship with his billionaire donor Elon Musk is over and warned there would be "serious consequences" if Musk funds US Democrats running against Republicans who vote for the president's sweeping tax and spending Bill. In a telephone interview with NBC News, Trump declined to say what those consequences would be, and went on to add that he had not had discussions about whether to investigate Musk. Asked if he thought his relationship with the Tesla and SpaceX CEO was over, Trump said, "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. Musk and Trump began exchanging insults this week, as Musk denounced Trump's Bill as a " disgusting abomination". Musk's opposition to the measure complicated efforts to pass the legislation in Congress, where Republicans hold only slim majorities in the House of Representatives and Senate. The Bill narrowly passed the House last month and is now before the Senate, where Trump's fellow Republicans are considering making changes. Nonpartisan analysts estimate the measure would add US$2.4 trillion to the US$36.2 trillion US debt over 10 years, which worries many lawmakers, including some Republicans who are fiscal hawks. Musk also declared it was time for a new political party in the United States "to represent the 80% in the middle!" Trump said on Saturday he is confident the Bill would get passed by the US Jul 4 Independence Day holiday. "In fact, yeah, people that were, were going to vote for it are now enthusiastically going to vote for it, and we expect it to pass," Trump told NBC. Republicans have strongly backed Trump's initiatives since he began his second term as president on Jan 20. While some Republican lawmakers have made comments to the news media expressing concern about some of Trump's choices, they have yet to vote down any of his policies or nominations. DELETED MUSK POSTS Musk has deleted some social media posts critical of Trump, including one that signalled support for impeaching the president, appearing to seek a de-escalation of their public feud, which exploded on Thursday. During his first term as president, the House, then controlled by Democrats, twice voted to impeach Trump but the Senate both times acquitted him. The White House and Musk did not immediately respond to requests for comment on Saturday on the deleted posts. People who have spoken to Musk said his anger has begun to recede and they thought he would want to repair his relationship with Trump. One of the X posts that Musk appeared to have deleted was a response to another user posting: "President vs Elon. Who wins? My money's on Elon. Trump should be impeached and (Vice President) JD Vance should replace him." Musk had written "yes". On Theo Von's "This Past Weekend" podcast - recorded on Thursday as the feud between Trump and Musk unfolded and released on Saturday - Vance called Musk's criticism of Trump a "huge mistake". "I'm always going to be loyal to the president, and I hope that eventually Elon kind of comes back into the fold. Maybe that's not possible now because he's gone so nuclear. But I hope it is," said Vance, describing Musk as an "incredible entrepreneur". Trump is due to attend an Ultimate Fighting Championship fight card on Saturday in New Jersey. Since his second election win, he has attended two previous UFC mixed martial arts fight cards with Musk. Musk is not expected to attend on Saturday. Musk, the world's richest man, bankrolled a large part of Trump's 2024 presidential campaign, spending nearly US$300 million in last year's US elections and taking credit for Republicans retaining a majority of seats in the House and retaking a majority in the Senate. Trump named Musk to head an effort to downsize the federal workforce and slash spending, lauding him at the White House only about a week ago for his work as head of the Department of Government Efficiency.

Colombian Senator Miguel Uribe shot in Bogota; condition unclear
Colombian Senator Miguel Uribe shot in Bogota; condition unclear

Straits Times

timean hour ago

  • Straits Times

Colombian Senator Miguel Uribe shot in Bogota; condition unclear

BOGOTA - Colombian Senator Miguel Uribe Turbay was shot in Bogota on Saturday, according to the government and his party, with no immediate confirmation from the authorities on the status of his condition. The 39-year-old senator is a member of the opposition conservative Democratic Center party, founded by former Colombian President Alvaro Uribe. The two men are not related. According to a party statement condemning the attack, the senator was hosting a campaign event in a public park in the Fontibon neighborhood in the capital on Saturday when "armed subjects shot him in the back." The party described the attack as serious, but did not disclose further details on his health. Colombia's presidency issued a statement saying the government "categorically and forcefully" rejected the violent attack, and called for a thorough investigation into the events that took place. Uribe's mother, the journalist Diana Turbay, was killed in 1991 during a rescue operation after she was kidnapped by Pablo Escobar's Medellin cartel. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.

Trump pressures Fed's Powell to cut rates by ‘a full point'
Trump pressures Fed's Powell to cut rates by ‘a full point'

Straits Times

timean hour ago

  • Straits Times

Trump pressures Fed's Powell to cut rates by ‘a full point'

Jerome Powell, chairman of the US Federal Reserve, speaks during the Federal Reserve IF 75TH Anniversary Conference in Washington, DC on June 2. PHOTO: BLOOMBERG – President Donald Trump urged the Federal Reserve to cut interest rates by a full percentage point, intensifying his pressure campaign against Chair Jerome Powell. ''Too Late' at the Fed is a disaster!' Mr Trump posted June 6 on social media, using a derisive nickname for Mr Powell. 'Despite him, our country is doing great. Go for a full point, rocket fuel!' While the size of Mr Trump's rate-cut demand – a full percentage point – was unusual, his call for the central bank to lower rates is not new. The president, who first nominated Mr Powell to the job in 2017, has regularly complained that the Fed chief has been too reluctant to cut borrowing costs. Mr Trump pushed Mr Powell to lower rates in a White House meeting last month. Mr Trump said later June 6 that he has considered successors for Mr Powell, whose term as chair ends in May 2026. 'It's coming out very soon,' he told reporters on Air Force One, without naming any potential candidates. 'I have a pretty good idea who,' Mr Trump added. After Mr Trump was specifically asked about Kevin Warsh, a former Fed governor considered among the potential successors to Mr Powell, he responded: 'He's very highly thought of.' Fed officials are scheduled to meet June 17-18 in Washington and are widely expected to leave their benchmark rate unchanged, as they have done all year. Many policymakers have said they want to wait for more clarity over how Mr Trump's policies on trade, immigration and taxation will affect the economy before they alter rates. It would be highly unusual for the Fed to lower its benchmark rate by a full percentage point at one meeting outside of a severe economic downturn or financial crisis. Officials last cut rates by a full point in March 2020, when the US economy was cratering as the Covid-19 pandemic prompted widespread shutdowns and layoffs, triggering a deep recession. The Fed targets 2 per cent inflation over time, and adjusts interest rates with the goal of maintaining both stable prices and maximum employment – the two responsibilities assigned to it by Congress. Lowering rates too quickly could stoke inflationary pressures, while holding them at high levels for too long could restrain the economy more than desired. Mr Trump posted his call on social media after new data showed US job growth moderated in May, but was still better than expected, and the unemployment rate held at a low 4.2 per cent. In a separate statement, the White House touted the 'booming economy,' including job gains, increasing wages and tame inflation. Fed policymakers in recent weeks have described the labour market as on stable footing, which they've said provides further cause for them to keep borrowing costs steady for now – especially with inflation still above their target. Mr Trump, in a subsequent message, accused Mr Powell of 'costing our country a fortune' by keeping rates at their current level, saying they have increased borrowing costs for the federal government that should be 'much lower'. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store