Advertisement
Musk urged Trump to reverse new tariffs, as Tesla shares drop, Washington Post reports
Elon Musk’s tariff plea to Trump failed, reports say. As Tesla shares plummet, economists warn of recession risks from the new US import duties
Reading Time:1 minute
Why you can trust SCMP
1
Tech-billionaire and Tesla CEO Elon Musk made direct yet unsuccessful appeals to US President Donald Trump to reverse tariffs over the past weekend, the Washington Post reported on Monday, citing two people familiar with the matter.
This exchange marks the highest profile disagreement between the President and Musk, the report said. It follows Trump’s unveiling of a 10 per cent baseline tariff on all imports to the US, along with higher duties on dozens of other countries.
The White House and Musk did not immediately respond to requests for comment.
Musk, a Trump adviser who has been working to eliminate wasteful US public spending, called for zero tariffs between the US and Europe during a virtual interaction at a Congress in Florence of Italy’s right-wing, co-ruling League Party over the weekend.
Tesla has seen its quarterly sales drop sharply amid a backlash against Musk’s work with a new “Department of Government Efficiency.” The company’s shares are trading at US$233.29 as of its last close on Monday, down over 42 per cent since the beginning of the year.
04:47
US tariff storm disrupts global business expansions, but some see opportunities
US tariff storm disrupts global business expansions, but some see opportunities
Musk has previously said that the impact of US President Donald Trump’s auto tariffs on Tesla is “significant.”
Advertisement