Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk has praised President Donald Trump for his role in resolving the Gaza ceasefire, a development that could have significant implications for the region.
What Happened: Musk took to X early Wednesday to credit Trump for the Gaza ceasefire, which was facilitated by the mediation efforts of Qatar and Egypt. The truce was announced on July 2, following a 60-day negotiation period as per President Trump’s Truth Social post.
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“Credit where credit is due. @realDonaldTrump has successfully resolved several serious conflicts around the world,” posted Musk
Why It Matters: This surprising diplomatic shift, as highlighted by Musk, comes on the heels of a proposed 60-day ceasefire in Gaza by Trump, with Israel’s agreement. The proposal was to be delivered to Hamas by mediators from Qatar and Egypt.
This development also follows reports of Trump and Israeli Prime Minister Benjamin Netanyahu working on a plan to end the Gaza war and expand the Abraham Accords, with new countries joining the peace agreement. The plan would require Israel to commit to supporting a future Palestinian state. However, Netanyahu’s office had denied the report at that time.
In late June, Trump announced that the United States would engage in nuclear talks with Iran next week, following a series of devastating U.S. airstrikes that, according to intelligence officials, "severely damaged" Tehran's nuclear infrastructure and brought the 12-day Israel-Iran conflict to an end.
Meanwhile, Musk has been vocal about his displeasure with Trump’s “Big, Beautiful Bill,” which he believes does not represent the majority of Americans. He has even threatened to launch an “America Party” if Congress approves the spending package.
Wedbush analyst Dan Ives also predicts a weak performance for Tesla Inc. amid a fallout between CEO Musk and President Trump. The stock on Tuesday ended 5.34% lower after Trump said that without government subsidies, Musk would have to "close up shop and head back home to South Africa."
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
