Tesla shares slumped 14% on Thursday as President Donald Trump proposed ending Elon Musk's government contracts and subsidies after his onetime adviser attacked the Republican's tax-policy bill. Musk also said he would end the use of SpaceX's Dragon spacecraft and called for Trump's impeachment. The Tesla move weighed on US benchmarks Thursday that had earlier risen as Trump and China's President Xi Jinping agreed to further trade talks. Trump said talks would begin shortly at a location to be determined as the countries aimed to resolve disputes over tariffs and rare earth minerals. We take a look at how markets are digesting the headlines with Robert Schein, Chief Investment Officer at Blanke Schein Wealth Management.
Plus - during President Trump's first term, he famously toured a Texas factory and claimed credit for bringing Apple Inc's production back to America. Except the plant had been running long before he took office. And it was an "unmitigated fiasco." Workers in China had to be flown in to help fix the mounting manufacturing issues encountered in the US heartland. We're joined by Bloomberg Opinion's Catherine Thorbecke, for a look whether a China exit is plausible for the iPhone maker amid tariff threats from Washington.
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