Washington, D.C. – President Donald Trump announced today that he is canceling all government contracts with billionaire Elon Musk’s companies. The decision affects businesses like SpaceX and Tesla. Trump says this move will save America billions of dollars.
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In a speech at the White House, Trump claimed the contracts were too expensive and not good for the country. “We’re cutting wasteful spending,” he said. “Musk’s deals cost taxpayers too much. We’ll find better options.”
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The canceled contracts include SpaceX’s work with NASA and the Department of Defense. SpaceX has been launching satellites and sending astronauts to space. The decision could delay some government projects.
Musk has not yet responded to the announcement. Critics say the move might hurt America’s space program and other industries. Supporters of Trump argue it will reduce government spending.
The White House has not provided details on how much money will be saved or what will replace Musk’s companies. More information is expected in the coming weeks.
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