Musk and Trump traded scathing missives on social media in early June. Trump has previously threatened to end government contracts with Musk's companies, saying during their June fallout that "the easiest way to save money" would be to "terminate Elon’s Governmental Subsidies and Contracts."

The war of words between billionaire Elon Musk and President Donald Trump over the big bill of tax breaks and spending cuts is heating up again, with Musk claiming he may form a new political party and Trump blasting the Tesla CEO over electric vehicle subsidies.