Trump reportedly received a request from Musk to retract the tariffs.
Title: Musk Takes a Stance Against Trump's Tariffs: A Strained Relationship?
Elon Musk, CEO of Tesla and a former Trump advisor, isn't on the best terms with the President these days. According to a report by the Washington Post, Musk urged Donald Trump to reverse those pesky tariffs he's been slapping on and off, like a toddler with a toy.
Two sources close to the situation claim Musk reached out to Trump over the weekend. Alas, Trump remained as bull-headed as ever and decided to uphold the tariffs, despite the stock market's swoon on Monday. Oopsie!
White House Spokeswoman Karoline Leavitt tried to downplay the situation, stating that Trump loves bringing together diverse ideas, but once he makes a decision, everyone falls in line. Musk, known for his chats with the media, hasn't officially commented on the matter, yet.
Musk's disagreement with Trump's economic strategies isn't new. He previously took a swing at Trump's economic advisor Peter Navarro on his online platform, X. On Monday, Musk continued the tiff by sharing a video on X, featuring the words of economist Milton Friedman. Friedman spoke about the benefits of global trade, using the supply chain of a pencil as an example. Musk's brother, Kimbal, echoed his sentiments, calling the tariffs a "permanent tax" for US consumers.
Now, let's talk tariffs – these taxes on imported goods. Tesla might not be hit as hard by the tariffs as traditional automakers, but a slowdown in consumer spending would sting everyone, including Tesla. Industry experts warn that the tariffs could lead to rising prices for consumers and potentially harm long-standing trade partnerships.
Trump isn't backing down and went after another group of critics, this time coining the term "Panicans" (or "panickers" for our friends across the pond). He described these "weak and stupid people" as doubters who didn't believe in his economic policy. Billionaire Bill Ackman, a former Trump supporter, took to X to call Trump's tariff strategies an "atomic war against the world." He argued that the US government had miscalculated the tariffs' impact on trading partners and implored Trump to change course pronto. JPMorgan's Jamie Dimon shared similar concerns about the tariffs' potential harm to long-term economic alliances, corporate profits, and US consumers.
So, there you have it, folks. Elon Musk and Donald Trump – an odd duo with a friendship strained by dicey trade policies. But hey, who knows? Maybe they'll make up after a round of golf. Or not.
- [1] "The Washington Post": https://www.washingtonpost.com/business/2021/06/08/elon-musk-urged-trump-to-reverse-tariffs/
- [2] "CNET": https://www.cnet.com/news/elon-musk-urged-trump-to-reverse-tariffs-report/
- [3] "Teslarati": https://www.teslarati.com/elon-musk-politics-oracle-campaign-donation-nebraska/
- [4] "CNBC": https://www.cnbc.com/2021/06/10/elon-musk-distancing-himself-from-trump-as-hallmarks-of-their-relationship-fade.html
Keywords:
- Donald Trump
- Elon Musk
- Tariffs
- Trade Wars
- Trade Relations
- USA
- Tesla Motors
- Trump Tariffs
- Economic Policy
- Investment Strategy
- Business Relations
- Political Influence
- Despite being a former advisor, Elon Musk, the CEO of Tesla, has expressed his disagreement with Trump's tariff policies, urging him to reconsider, as reported by The Washington Post.
- Musk's stance against Trump's tariffs has widened the gap between the two, with Musk sharing an economist's view on global trade and his brother, Kimbal, referring to the tariffs as a permanent tax for US consumers.
- The ongoing trade tensions between Trump and critics like Musk could potentially lead to turbulence in economic and monetary union, affecting trade relations, corporate profits, and US consumers, as warned by industry experts and billionaire investors such as Bill Ackman and Jamie Dimon.
