In a bid to mend their strained relationship, President Donald Trump and Tesla CEO Elon Musk have scheduled a phone call for Friday. This development follows a public feud that led to a significant drop in Tesla’s stock value. The dispute began after Musk criticized Trump’s “Big Beautiful Bill,” prompting Trump to threaten the cancellation of federal contracts with Musk’s companies. In response, Musk called for Trump’s impeachment. The conflict resulted in Tesla shares plummeting by 14%, erasing approximately $150 billion in market capitalization.
Despite the tensions, both parties appear willing to de-escalate the situation. Trump downplayed the fallout, stating, “It’s going very well, never done better.” Musk also seemed to soften his stance, indicating a readiness to move forward.
The market responded positively to news of the scheduled call, with Tesla shares rising over 5% in Frankfurt trading.
