"Gone Crazy" Mud-slinging Showdown... 'Trump-Musk' Bromance Shattered [Lee Sang-eun's Washington Now]

"I am very disappointed in Elon Musk (Tesla CEO). We had a great relationship, but I don’t know if that will continue in the future."

Around noon on the 5th (local time), President Donald Trump of the United States said this in response to a question about Musk during a press conference at the White House with German Chancellor Friedrich Merz. After Musk, who left the White House on the 30th of last month, repeatedly posted criticisms of the Trump administration’s tax cut law on X, the SNS he acquired, he publicly admitted that their relationship had deteriorated. Shortly after the video was posted, Musk fired back at President Trump, calling him “ungrateful.” Musk also claimed that Trump would have lost last year’s election if it weren’t for him.

○Musk, who spent ₩370 billion, calls Trump 'Ungrateful'

The ‘bromance’ between ‘the world’s most powerful’ President Trump and ‘the world’s richest’ CEO Musk collapsed after just one year. It had only been six days since Trump handed Musk a golden key as a symbol that he could come and go from the White House anytime—an amicable farewell.

Both sides exchanged barbs all day both on and offline. President Trump, called “ungrateful,” did not stay silent either. He poured out emotional posts on Truth Social, his own SNS platform. He revealed, “Elon kept testing my patience, and I asked him to leave.” He also wrote, “I abolished the electric vehicle mandate that forced people to buy EVs nobody wants, and then he went crazy!”

He further added that the easiest way to cut the U.S. government budget would be to “end Elon’s government subsidy contracts,” saying, “I’ve always been surprised Biden hasn’t done it.”

Musk’s posts kept coming. Around 3:10 p.m., he wrote, “Time to drop a big bombshell,” tagging Trump’s account and claiming, “He’s on the Epstein file. That’s the real reason the documents aren’t being released. Have a nice day, DJT!” This is a claim that President Trump is named as a client of Jeffrey Epstein, who committed sex trafficking of minors before dying by suicide in prison.

Musk then reposted a call for Trump’s impeachment with the comment “Yes.” He also put up a poll as an announcement asking, “Is it time to create a new party representing the 80% in the center?” Furthermore, he broadened his attacks beyond the tax law, saying “There’ll be a recession in the second half of the year because of tariffs.”

Trump and his camp quickly moved to defend themselves. President Trump stated he “doesn’t care” that Musk turned his back but also said “he should have done so months ago” so as not to block passage of his bill. JD Vance, Vice President of the United States, supported him, saying he was “proud to stand by President Trump’s side.” Mike Johnson, Speaker of the House and friends with both parties, tried to mediate the conflict by speaking with Musk.

Far-right influencer Laura Loomer defended Trump by saying he was “the one who banned Epstein from entering Mar-a-Lago Resort,” dismissing the Epstein list as untrue. Former White House Chief Strategist Steve Bannon, appearing on his podcast ‘War Room,’ referred to Musk’s remark that “President Trump has 3.5 years left in office but I’ll be here for 40 years,” and threatened, “I want him to know what it’s like to work for 40 years in prison.”

○‘Cracks’ less than 5 months into the administration

The quick breakup of the two men, once dubbed ‘first buddies’ for their close relationship, is expected to deal a significant blow to the Trump administration, which has been running for less than five months. Whether the tax cut bill at the heart of the showdown passes Congress is a matter that could define Trump’s entire current term. This is because all of his key economic pledges, like tips and overtime pay exemptions, are included.

Previously calling the bill disgusting, Musk lashed out again: “Is it a big ugly bill or a slim and beautiful one? It can only be one—the slim and beautiful is the answer.” He added that lawmakers who blindly push through the bill despite worsening finances and increased debt should forfeit their seats. He also criticized the process, saying it was “passed in the middle of the night without even time for lawmakers to read it.”

The minimum number needed for the bill to pass the Senate is 50 (excluding the Vice President). If more than 3 Republicans defect, the bill could be sunk. In the last election, Musk spent at least $277 million officially to support Trump. If Musk and the tech giants of Silicon Valley reduce or cut their funding for the Trump administration, the Republican Party will lose a major financial source.

Traditional funding sources like Wall Street are not actively backing President Trump’s flip-flopping policies. Some Republican lawmakers are already positioning themselves as neutral, mindful of Musk’s influence. If Musk continues to attack Trump from the sidelines, a lame duck situation could arise even before the midterm elections next November.

On this day, the U.S. stock markets were more affected by the Trump-Musk spat than by the U.S.-China summit call. Amid the split from the administration and threats to terminate government contracts, Tesla’s stock price plunged as much as 17% during the day and finished down 14.26% at $284. In just a day, about ₩206 trillion in value essentially evaporated. The Dow Jones 30 Industrial Average dropped -0.25%, S&P 500 Index -0.53%, and the NASDAQ Index -0.83%, respectively. With the ‘crypto alliance’ split, Bitcoin and Ethereum prices also tumbled.

Washington = Lee Sang-eun, Correspondent selee@hankyung.com