U.S. President Donald Trump on Tuesday suggested the government efficiency department should review the subsidies to Tesla CEO Elon Musk’s companies to save money, reigniting a war of words between the world’s most powerful person and its richest.
Trump’s remarks came after Musk, a Republican mega-donor, renewed his criticism of the sweeping tax-cut and spending bill and vowed to unseat lawmakers who supported it despite campaigning on limiting government spending.
Tesla shares fell more than 6% before the market open as the feud could add fresh hurdles for the business empire of Musk, whose main source of wealth, the electric automaker, is betting on the success of robotaxis being tested in Texas.
The U.S. Transportation Department regulates vehicle design and will play a key role in deciding if Tesla can mass-produce robotaxis without pedals and steering wheels, while Musk’s rocket firm SpaceX has about $22 billion in federal contracts.
“Elon may get
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