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Trump Slams Musk's 'America Party,' Tesla Shares Tumble

7/8/2025

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Summary

Story summary

President Trump labeled Elon Musk's proposal for a new political party as "ridiculous" and unnecessary.
Musk introduced the "America Party" to challenge Trump's recent tax-cut and spending bill, citing economic concerns.
Trump's remarks resulted in a drop in Tesla shares, raising investor worries about Musk's political involvement.
Trump criticized the NASA appointment of Musk's ally, citing potential conflicts of interest.

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Story summary

President Trump labeled Elon Musk's proposal for a new political party as "ridiculous" and unnecessary.
Musk introduced the "America Party" to challenge Trump's recent tax-cut and spending bill, citing economic concerns.
Trump's remarks resulted in a drop in Tesla shares, raising investor worries about Musk's political involvement.
Trump criticized the NASA appointment of Musk's ally, citing potential conflicts of interest.