Musk appeals to Trump to reverse tariffs, Washington Post reports

Reuters
Reuters

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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