Tech billionaire Elon Musk, CEO of Tesla, made direct appeals to U.S. President Donald Trump over the weekend to reverse newly imposed tariffs, according to a report from the Washington Post.
The calls came after Trump introduced a 10% baseline tariff on all U.S. imports, alongside higher duties on several other countries, sparking concerns about potential economic fallout. Musk, a close adviser to Trump, has been an advocate for reducing government inefficiencies and previously called for zero tariffs between the U.S. and Europe during a virtual address to Italy's right-wing League Party in Florence.
Despite Musk’s efforts, Tesla has struggled financially, with its quarterly sales taking a significant hit amid mounting criticism of Musk’s involvement in creating a new "Department of Government Efficiency." Tesla's stock has dropped more than 42% since the beginning of the year, closing at $233.29 on Monday.
Musk has openly expressed concerns about the impact of Trump’s auto tariffs on Tesla, calling them “significant.” Economists have warned that the tariffs could fuel inflation, increase the likelihood of a U.S. recession, and raise costs for American families, posing a challenge to Trump, who campaigned on promises to reduce living expenses.
Neither the White House nor Musk responded immediately to requests for comment from Reuters.
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Elon Musk announced he will sharply reduce his involvement in the Trump administration’s Department of Government Efficiency starting next month, shifting focus back to Tesla amid mounting investor pressure and falling sales.
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US Vice President JD Vance denied reports of Elon Musk leaving his government role, confirming he’ll remain an advisor. Vance also touched on efforts to cut government spending and the upcoming decision on TikTok’s future in the US.
EU foreign ministers will visit Lviv, Ukraine, on May 9 to discuss defense support and endorse plans for a tribunal on war crimes and aggression.
The election of U.S. Cardinal Robert Prevost as Pope Leo XIV has drawn an emotional response from clergy and laity across the globe, celebrating his historic rise as the first American to lead the Catholic Church.
U.S. President Donald Trump called for a 30-day unconditional ceasefire between Russia and Ukraine, with Ukrainian President Zelenskyy saying Kyiv is ready to comply immediately.
President Trump and UK Prime Minister Keir Starmer unveiled a limited trade deal Thursday that keeps 10% tariffs on British exports but lowers U.S. duties on UK cars and cuts average UK tariffs on U.S. goods to 1.8%, calling it a “historic” step forward.
German Chancellor Friedrich Merz and U.S. President Donald Trump agreed to resolve trade disputes and cooperate on Ukraine during a phone call Thursday evening.
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A humanitarian ship carrying 20,000 tons of Ukrainian wheat docked in Samsun, Türkiye, on Thursday, marking a major World Food Program initiative to supply crisis-hit regions, including Syria.
North Korea’s leader Kim Jong Un supervised a missile test on Thursday, emphasizing the nation's nuclear combat readiness, according to state media KCNA.
EU foreign ministers will visit Lviv, Ukraine, on May 9 to discuss defense support and endorse plans for a tribunal on war crimes and aggression.
The election of U.S. Cardinal Robert Prevost as Pope Leo XIV has drawn an emotional response from clergy and laity across the globe, celebrating his historic rise as the first American to lead the Catholic Church.
EU foreign ministers will visit Lviv, Ukraine, on May 9 to discuss defense support and endorse plans for a tribunal on war crimes and aggression.
The election of U.S. Cardinal Robert Prevost as Pope Leo XIV has drawn an emotional response from clergy and laity across the globe, celebrating his historic rise as the first American to lead the Catholic Church.
U.S. President Donald Trump called for a 30-day unconditional ceasefire between Russia and Ukraine, with Ukrainian President Zelenskyy saying Kyiv is ready to comply immediately.
President Trump and UK Prime Minister Keir Starmer unveiled a limited trade deal Thursday that keeps 10% tariffs on British exports but lowers U.S. duties on UK cars and cuts average UK tariffs on U.S. goods to 1.8%, calling it a “historic” step forward.
German Chancellor Friedrich Merz and U.S. President Donald Trump agreed to resolve trade disputes and cooperate on Ukraine during a phone call Thursday evening.
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