NEW YORK (AP) — President Donald Trump took to social media Thursday morning to support Elon Musk's car company, a startling development given their bitter public feud.
”I want Elon, and all businesses within our Country, to THRIVE,” Trump wrote on Truth Social.
The post wasn't enough to help Tesla's stock, which fell sharply after the company reported another quarter of lackluster financial results and Musk warned of some potentially “rough quarters” into next year. The stock fell 8.2% and is now down more than 24% so far this year.
Late Wednesday, Tesla said revenue fell 12% and profit dropped 16% in the April-June quarter. Many prospective buyers have been turned off by Musk’s foray into right-wing politics, and the competition has ramped up in key markets such as Europe and China.
Investors have been unnerved by Musk's social media spat with the president because Trump has threatened to retaliate by ending government contracts and breaks for Musk's various businesses, including Tesla.
But Trump struck a starkly different tone Thursday morning.
“Everyone is stating that I will destroy Elon’s companies by taking away some, if not all, of the large scale subsidies he receives from the U.S. Government. This is not so!" Trump wrote. “The better they do, the better the USA does, and that’s good for all of us.”
After Trump's massive budget bill passed earlier this month, Tesla faces the loss of the $7,500 EV tax credit and stands to make much less money from selling regulatory credits to other automakers. Trump’s tariffs on countries including China and Mexico will also cost Tesla hundreds of millions of dollars, the company said on its earnings call.
Musk has blasted the budget bill on his own social media platform X for adding to U.S. debt at a time when it is already too large. The Tesla CEO has called the budget pushed by the president a “disgusting abomination” and has threatened to form a new political party.
On Wednesday's call, Musk said the electric vehicle maker will face “a few rough quarters” as it moves into a future focused less on selling cars and more on offering people rides in self-driving cars. He also talked up the company's business making humanoid robotics. But he acknowledged those businesses are a ways off from contributing to Tesla’s bottom line.
Tesla began a rollout in June of its paid robotaxi service in Austin, Texas, and hopes to introduce the driverless cabs in several other cities soon. Musk told analysts that the service will be available to probably “half of the population of the U.S. by the end of the year — that’s at least our goal, subject to regulatory approvals.”
“We’re in this weird transition period where we’ll lose a lot of incentives in the U.S.,” Musk said, adding that Tesla “probably could have a few rough quarters” ahead. He added, though, “Once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla’s economics are not very compelling.”
People visit a booth of Tesla during the 3rd China International Supply Chain Expo at the China International Exhibition Center, in Beijing, China, Friday, July 18, 2025. (AP Photo/Mahesh Kumar A.)
MINNEAPOLIS (AP) — President Donald Trump on Thursday threatened to invoke an 1807 law and deploy troops to quell persistent protests against the federal officers sent to Minneapolis to enforce his administration's massive immigration crackdown.
The threat comes a day after a man was shot and wounded by an immigration officer who had been attacked with a shovel and broom handle. That shooting further heightened the fear and anger that has radiated across the city since an Immigration and Customs Enforcement agent fatally shot Renee Good in the head.
Trump has repeatedly threatened to invoke the Insurrection Act, a rarely used federal law, to deploy the U.S. military or federalize the National Guard for domestic law enforcement, over the objections of state governors.
“If the corrupt politicians of Minnesota don’t obey the law and stop the professional agitators and insurrectionists from attacking the Patriots of I.C.E., who are only trying to do their job, I will institute the INSURRECTION ACT, which many Presidents have done before me, and quickly put an end to the travesty that is taking place in that once great State,” Trump said in social media post.
Presidents have invoked the law more than two dozen times, most recently in 1992 by President George H.W. Bush to end unrest in Los Angeles. In that instance, local authorities had asked for the assistance.
“I’m making a direct appeal to the President: Let’s turn the temperature down. Stop this campaign of retribution. This is not who we are,” Gov. Tim Walz, a Democrat, said on X.
Minnesota Attorney General Keith Ellison said he would challenge any such action in court. He's already suing to try to stop the surge by the Department of Homeland Security, which says officers have arrested more than 2,500 people since Nov. 29 as part of an immigration operation in the Twin Cities called Metro Surge.
The operation grew when ICE sent 2,000 officers and agents to the area early in January. ICE is a DHS agency.
In Minneapolis, smoke filled the streets Wednesday night near the site of the latest shooting as federal officers wearing gas masks and helmets fired tear gas into a small crowd. Protesters responded by throwing rocks and shooting fireworks.
Demonstrations have become common in Minneapolis since Good was fatally shot on Jan. 7. Agents who have yanked people from their cars and homes have been confronted by angry bystanders demanding they leave.
“This is an impossible situation that our city is presently being put in and at the same time we are trying to find a way forward to keep people safe, to protect our neighbors, to maintain order,” Minneapolis Mayor Jacob Frey said.
The American Civil Liberties Union of Minnesota filed a class-action lawsuit on behalf of three people who said they were questioned or detained in recent days. The lawsuit says two are Somali and one is Hispanic; all three are U.S. citizens. The lawsuit seeks an end to what the ACLU describes as a practice of racial profiling and warrantless arrests. The government did not immediately comment.
Homeland Security said in a statement that federal law enforcement officers on Wednesday stopped a driver from Venezuela who is in the U.S. illegally. The person drove off then crashed into a parked car before fleeing on foot, DHS said.
Officers caught up, then two other people arrived and the three started attacking the officer, according to DHS.
“Fearing for his life and safety as he was being ambushed by three individuals, the officer fired a defensive shot to defend his life,” DHS said. The confrontation took place about 4.5 miles (7.2 kilometers) from where Good was killed.
Police chief Brian O’Hara said the man who was shot did not have a life-threatening injury. O’Hara's account of what happened largely echoed that of Homeland Security, which later said the other two men were also in the U.S. illegally from Venezuela.
The FBI said several government vehicles were damaged and property inside was stolen when agents responded to the shooting. Photos show broken windows and insults made with paint. A reward of up to $100,000 is being offered for information. The FBI’s Minneapolis office did not immediately reply to messages seeking more details.
St. Paul Public Schools, with more than 30,000 students, said it would begin offering an online learning option for students who do not feel comfortable coming to school. Schools will be closed next week until Thursday to prepare for those accommodations.
Minneapolis Public Schools, which has a similar enrollment, is also offering temporary remote learning. The University of Minnesota will start a new term next week with different options depending on the class.
Madhani reported from Washington, D.C. Associated Press reporters Sophia Tareen in Chicago; Bill Barrow in Atlanta; Rebecca Santana in Washington; and Ed White in Detroit contributed.
Federal immigration officers confront protesters outside Bishop Henry Whipple Federal Building, Thursday, Jan. 15, 2026, in Minneapolis. (AP Photo/John Locher)
Law enforcement officers at the scene of a reported shooting Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/Adam Gray)
A woman covers her face from tear gas as federal immigration officers confront protesters outside Bishop Henry Whipple Federal Building, Thursday, Jan. 15, 2026, in Minneapolis. (AP Photo/Adam Gray)
A protester throws back a tear gas canister during a protest after a shooting on Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/John Locher)
Federal immigration officers confront protesters outside Bishop Henry Whipple Federal Building, Thursday, Jan. 15, 2026, in Minneapolis. (AP Photo/Adam Gray)
Minneapolis City Council Member Jason Chavez, second from left, blows a whistle with other activists to warn people of federal immigration officers Thursday, Jan. 15, 2026, in Minneapolis. (AP Photo/John Locher)
Tear gas surrounds federal law enforcement officers as they leave a scene after a shooting on Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/John Locher)
A child and family are escorted away after federal law enforcement deployed tear gas in a neighborhood during protests on Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/Adam Gray)
A protester holds an umbrella as sparks fly from a flash bang deployed by law enforcement on Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/Adam Gray)
Monica Travis shares an embrace while visiting a makeshift memorial for Renee Good, who was fatally shot by an ICE officer last week, Monday, Jan. 12, 2026, in Minneapolis. (AP Photo/John Locher)
A protester yells in front of law enforcement after a shooting on Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/John Locher)
Tear gas surrounds federal law enforcement officers as they leave a scene after a shooting on Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/John Locher)
Protesters shout at law enforcement officers after a shooting on Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/Abbie Parr)
Law enforcement officers stand amid tear gas at the scene of a reported shooting Wednesday, Jan. 14, 2026, in Minneapolis. (AP Photo/Adam Gray)
