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Elon Musk, the world’s richest man and a key advisor to the White House, reportedly urged President Donald Trump to ease his aggressive trade tariffs, according to the Washington Post. Citing sources familiar with the matter, Musk directly appealed to Trump, but his efforts failed to sway the president’s stance.
The Tesla (NASDAQ:TSLA) CEO’s concerns stem from the impact of tariffs on his company’s supply chain. Although Tesla manufactures its vehicles in the U.S., it imports various components from China and other countries now affected by the new tariff policies. The rising costs pose a risk to Tesla's production and profitability.
Musk also took to social media over the weekend, publicly criticizing White House trade advisor Peter Navarro. He called for the establishment of a U.S.-Europe free trade zone, emphasizing the need for open markets and fewer trade barriers.
Last week, Trump announced sweeping and unexpectedly high tariffs targeting several major economies. China, in particular, faces tariffs on about 54% of its exports to the U.S. Trump has further threatened to impose an additional 50% tariff if China doesn’t comply with his trade demands. In response, China’s Commerce Ministry warned it would “fight to the end” against U.S. pressure.
These escalating trade tensions are expected to disrupt supply chains and impact American tech giants. Apple Inc. (NASDAQ:AAPL) is among the companies likely to be severely affected by the new tariffs.
The tariffs are set to go into effect on Wednesday, marking a critical turning point in U.S.-China trade relations. As global markets watch closely, Musk’s warnings highlight growing concern among business leaders over the economic fallout of protectionist policies.
