Musk urges Trump to call off tariffs
(MENAFN) Elon Musk has personally reached out to President Donald Trump, urging him to reconsider the steep tariffs imposed on US trade partners, according to the Washington Post. The call for a reassessment follows growing concerns among business and tech leaders, many of whom supported Trump’s candidacy, but now criticize the aggressive tariff policy.
Trump’s recent tariffs include a 34% duty on Chinese imports, which prompted Beijing to announce a retaliatory 34% tariff on American exports. In response, Trump threatened to escalate the situation with an additional 50% tariff on Chinese goods.
Musk, the CEO of Tesla and SpaceX, who also serves as Trump’s government efficiency czar, expressed his dissatisfaction with the policy through social media posts. He criticized White House trade adviser Peter Navarro, a key architect of the tariff strategy, saying that having a Harvard PhD in economics was "a bad thing, not a good thing." Musk also reportedly attempted to intervene directly with Trump, but sources revealed that these efforts have not yet led to any changes.
As the leader of Tesla, Musk views the tariffs as detrimental to the company, particularly because both the US and China are vital to Tesla’s manufacturing operations and markets. Other business leaders who supported Trump’s candidacy have echoed similar concerns, suggesting that a lower, 10% tariff combined with negotiations would have been more effective.
Musk’s associates, including investor Joe Lonsdale, have also lobbied members of the administration to reconsider, warning that the tariffs may hurt American companies more than Chinese ones. Additionally, a group of business leaders has begun organizing to push for more moderate trade policies.
Trump, however, has defended his decision, claiming that the tariffs are necessary to address trade imbalances and promising that they will ultimately lead to job creation and economic prosperity in the US.
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