Tuesday, April 8, 2025
Year : 2, Issue: 32
Agencies: Tech billionaire Elon Musk made personal appeals to US President Donald Trump to reverse tariffs over the past weekend, according to a report by The Washington Post.
Trump has announced a baseline tariff of 10% on all imports to the US and even higher “reciprocal” tariffs on other trading partners, including China and the European Union.
Musk’s efforts, confirmed by two sources, have not been successful so far. Trump on Monday threatened to impose additional 50% tariffs on China on top of the imposed 34% “reciprocal” tariffs announced last week.
Musk posted a video on X featuring economist Milton Friedman, who emphasized the benefits of international trade by explaining how materials for a simple pencil come from around the world.
Musk’s split with Trump over tariffs is currently the “highest-profile disagreement“ between them. On Saturday, Musk criticized White House trade adviser Peter Navarro, who played a key role in developing the tariff plans. “A PhD in Econ from Harvard is a bad thing, not a good thing,” he wrote on X.
The owner of X, in an interview with Italian Deputy Prime Minister Matteo Salvini on Saturday, expressed hope for a “zero-tariff” system between the US and Europe that would “effectively create a free trade zone.”
Musk, also the CEO of the electric vehicle company Tesla, has viewed tariffs as harmful to the company’s goals, given its reliance on both the US and China for manufacturing and sales. His opposition dates back to Trump’s first term when Tesla sued to challenge tariffs on Chinese imports.
The world’s richest person, meanwhile, is expected to depart his post in the Trump administration. He has been leading the so-called Department of Government Efficiency’s cost-cutting efforts since January.
