Musk probably doesn’t have much to fear. Legally, the Trump administration would likely enmire itself in lengthy legal disputes if it appeared to cancel contracts out of spite. Moreover, as the world’s No. 1 launch provider and maker of low-Earth orbit satellites, SpaceX may have made itself indispensable.

SpaceX relies on tens of billions in federal contracts and EV credits have been a boon to the electric vehicle sector

"The easiest way to save money in our Budget … is to terminate Elon's Governmental Subsidies and Contracts," Trump said in a post.