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Musk urged Americans to call their representatives in Washington to "kill the bill" as he believed it would "cause a recession in the second half of the year".

However, it stopped short of predicting a global recession, saying the chances of that were less than 10%.

The recent interest in recessions, and by extension most contemporary economic evaluations, is informed by some degree of partisanship, but most Americans are somewhat independent and their concerns over affordability are longstanding.

Musk attacks another of Trump's signature policies - his trade tariffs - by posting on X to say these "will cause a recession in the second half of this year".

Furukawa said that the tariff situation in the U.S. and the possibility of a recession did not reduce the company’s forecast.