Elon Musk said yesterday he predicts a recession for later this year, a call many executives have made since President Donald Trump implemented his tariff regime. The threat to business activity has also caused concern about a potential recession.

As tensions escalate between President Donald Trump and Elon Musk, the Tesla CEO warned that Trump’s "big, beautiful bill" will trigger an economic recession. It comes as the Congressional Budget Office reports that Trump's tariffs plan would reduce the deficit but shrink the economy.

The tech billionaire has suddenly fallen out with Donald Trump, and the two are jousting on social media.