Elon Musk had advocated ending the $7,500 tax credit for buyers of Tesla and other automakers’ EVs. But with the end of that credit included in the the “big, beautiful bill,” he and the now financially struggling Tesla are arguing for its continuation.

President Trump said on Thursday that Elon Musk was upset about the repeal of an electric vehicle tax credit — a claim Mr. Musk swiftly rejected.

Tesla Inc.’s shares sank as Elon Musk and President Donald Trump’s simmering feud devolved into a public war of words between two of the world’s most powerful people.