GEOFF BENNETT: Welcome to the "News Hour."

An extraordinary feud erupted into public view# today between President Donald Trump an.. one-time ally Elon Musk, with Mr. Trump saying# he was very disappointed in Musk for criticizing## the GOP's massive domestic policy bill.

That's as# President Trump today also defended his sweeping## new travel ban on citizens from 12 different# countries and restricting entry from seven more.

AMNA NAWAZ: The president claims it# will protect U.S. national security.## The ban mostly affects people from Africa and# the Middle East and will take effect on Monday.

White House correspondent Laura# Barron-Lopez has our report.

LAURA BARRON-LOPEZ: Pointing to# Sunday's violent attack in Boulder,## Colorado, President Trump unveiled# his new travel ban last night.

DONALD TRUMP, President of the United States:# The recent terror attack in Boulder, Colorado,## has underscored the extreme dangers# posed to our country by the entry## of foreign nationals who are not properly vetted.

LAURA BARRON-LOPEZ: Banning# citizens from 12 countries## from entering the United States# and restricting access for seven## other countries.

Trump claimed it's# necessary to prevent terror attacks.

DONALD TRUMP: Very simply, we cannot have# open migration from any country where we## cannot safely and reliably vet and screen# those who seek to enter the United States.

LAURA BARRON-LOPEZ: On the list, Afghanistan,# Myanmar, Chad, the Republic of Congo, Equatorial## Guinea, Eritrea, Haiti, Iran, Libya, Somalia,# Sudan, and Yemen, while citizens from Burundi,## Cuba, Laos, Sierra Leone, Togo, Turkmenistan, and# Venezuela face heightened restrictions for entry.

Notably not on the list, Egypt.

That# despite Trump using the Boulder suspect,## who is an Egyptian national, as justification for# his actions.

During a visit with German Chancellor## Friedrich Merz in the Oval Office today, Trump# defended his decision to leave Egypt off the list.

DONALD TRUMP: Egypt has been a country# that we deal with very closely.

They have## things under control.

The countries that# we have don't have things under control.

LAURA BARRON-LOPEZ: There are# some key exemptions in place,## including for those who are dual citizens,# legal residents, refugees or asylum grantees## already in the U.S. and athletes traveling# for events like the World Cup and Olympics.

At JFK Airport in New York City, some# said the policy seemed shortsighted.

SULEIMAN KENYI, New Jersey Resident: We seem to# be isolating ourselves from the rest of the world.## So, wherever we draw back, I think the Chinese# and other countries kind of fill in the gap,## which is not good for -- from my point# of view, not good in the long term.

LAURA BARRON-LOPEZ: The new travel ban is# significantly larger in scope than the executive## order issued during the early days of the first# Trump administration.

That policy banned citizens## from predominantly Muslim countries, like Iraq,# Syria, Iran, Sudan, Libya, Somalia and Yemen.

After a chaotic implementation and# legal challenges, the Supreme Court## upheld a version of the ban in 2018.

Despite# waiting more than four months to issue it,## Trump said that his travel# ban can't come soon enough.

DONALD TRUMP: We're not# stopping until we get them out.

LAURA BARRON-LOPEZ: But the president# didn't linger on the new policy,## instead focusing more on the precarious# future of his budget bill and the economy.

DONALD TRUMP: We have almost perfect# inflation.

Grocery prices are down,## everything.

Remember eggs?

Eggs have come# down 400 percent.

Everybody has eggs now.

LAURA BARRON-LOPEZ: Egg prices have# decreased since peaks earlier this## winter, but it's closer to a 61# percent drop, not 400 percent.

Wholesale prices for businesses have dropped,## but economists say the impact of Trump's# tariff policies will likely drive them## up again later this summer.

And Trump# lashed out at former adviser Elon Musk.

DONALD TRUMP: I'm very disappointed# in Elon.

I have helped Elon a lot.

LAURA BARRON-LOPEZ: This week, Musk# publicly criticized the president's## tax bill, calling it a disgusting abomination.

DONALD TRUMP: Look, Elon and I had a great# relationship.

I don't know if we will anymore.## Elon knew the inner workings of this bill# better than almost anybody sitting here,## better than you people.

He knew everything about# it.

He had no problem with it.

All of a sudden,## he had a problem, and he only# developed the problem when he## found out that we're going to# have to cut the E.V.

mandate.

LAURA BARRON-LOPEZ: Musk quickly responded# on his social media platform X, saying:## "Whatever.

Republicans can get rid of the# Biden era tax credit for electric vehicles## as long as they ditch the mountain# of disgusting pork in the bill."

Musk's attacks didn't end there, posting:# "Without me, Trump would have lost the election,## Dems would control the House and the# Republicans would be 51-49 in the Senate."

Within hours, the president took# to his own platform, TRUTH Social,## saying "Musk went crazy" and that "The# easiest way to save money in our budget,## billions and billions of dollars, is to terminate# Elon's governmental subsidies and contracts."

The mutually beneficial relationship between two# of the most powerful men in the world appears## to be over.

Musk dropping what he called a# really big bomb about alleged ties between## the president and convicted sex offender# and financier Jeffrey Epstein.

Musk said:## "Donald Trump is in the Epstein files.

That is# the real reason they have not been made public."

Some conspiracy theorists believe the government# is hiding information about the death of Epstein.## The Trump administration released a first# phase of documents earlier this year.

As the president and Elon Musk continue# their public fight on social media,## Tesla's stock price plunged this afternoon,# dropping 14 percent.

And shares in Trump Media## and Technology Group, the TRUTH Social parent# company, also took an 8 percent hit -- Amna.

AMNA NAWAZ: Well, let's pick up where you# left off there and the feud between the## president and Elon Musk that is escalating# by the minute.

What's the latest on that?

LAURA BARRON-LOPEZ: So this fight carried on# for hours, Amna.

And Musk posted again on his## social media platform, X, saying that he will# immediately decommission his Dragon spacecraft.

That's the only U.S. option for delivering the# crew to and from the International Space Station.## Elon Musk continued, amplifying a post calling for# the president's impeachment.

And he also said that## the president's tariffs will -- quote -- "cause# a recession in the second half of the year."

Now, President Trump fired back on TRUTH# Social, saying that he didn't mind that## Elon Musk turned on him, but said that# Musk should have done it months ago.

So, this ongoing fight exploding today,## less than a week after Elon Musk and Donald Trump# were in the Oval Office saying their goodbyes.

AMNA NAWAZ: Laura, is any of this# going to have an impact on the## president's budget bill that he's# trying to push through right now?

LAURA BARRON-LOPEZ: So the president# and the Republican Senate leadership## can only lose three votes in the Senate.# But some sources close to the White House## said that the bill was in a tough spot as of# this morning, but that they think that this## fight between Elon Musk and the# president could actually have a## rallying effect for the president, essentially# Republicans rallying around the president.

As for the relationship between the two men,## a source close to the president said that# they think that the president's threats about## canceling those government contracts that# Musk's businesses have with the government,## that that's a very real threat, and that# ultimately Musk could end up being attacked## and targeted in the way that the president# has attacked his other perceived enemies.

AMNA NAWAZ: Let's turn back to that# travel ban you were reporting on.

We## heard the president talk about the# national security interests here.

What more do we know about the reasoning# behind these countries targeted in the ban?

LAURA BARRON-LOPEZ: We spoke to Simon# Hankinson, a Heritage Foundation## worker who also worked at the State# Department for more than two decades.## And he argued that this ban was really# about cracking down on visa overstays and## the refusal of countries to take back their# nationals, which the DHS said as well, that## essentially they are trying to pressure countries# to take deportation flights of their citizens.

Now, Hankinson argued that# he doesn't think this ban## is going to have that big of effect on# students and talent coming to the U.S.## because of the fact that the countries# affected don't include India and China,## which are some of the countries that immigrants# come from the most to the U.S. for studying.

It's important to note, though, Amna,# that in the president's order and as## well as the president's statements,# he has repeatedly said that this is## about combating terrorism and to# prevent national security threats.

AMNA NAWAZ: And, on that point, you reported on# that.

The president cited the Boulder attack.

The## suspect in that case is from Egypt.

Egypt is# not on this list.

What are the facts that we## know about terrorist attacks that are committed# by people from these countries on the ban list?

LAURA BARRON-LOPEZ: I spoke to# Alex Nowrasteh.

And he's with the## Cato Institute.

He and his team analyzed# the actual number of immigrants and the## threats from immigrants who come from these# banned countries over the last 50 years.

ALEX NOWRASTEH, Cato Institute: Since# 1975, only one person has been murdered## in a terrorist attack on U.S. soil committed# by somebody from one of these banned countries.## These bans are more about the president flexing# his power and trying to reduce immigration to## the United States by first going after# countries that aren't that important,## frankly, that don't send that# many people to the United States.

And then I think we will slowly see him# add countries to the list over time.