by Alfred Ignacio in Politics

Elon Musk has seemingly broken from the Trump administration's tariff policies, expressing his desire for a "zero tariff situation" between the US and Europe. This comes after President Trump announced sweeping tariffs on numerous trading partners, causing an $11 billion drop in Musk's net worth. Musk criticized trade advisor Peter Navarro, even resorting to personal attacks on Twitter. Navarro responded by suggesting Musk was simply protecting his business interests, given Tesla's reliance on international supply chains. Musk further elaborated on his stance during a video conference in Italy, reiterating his hope for a free trade zone between Europe and North America. He also mentioned advising President Trump on this matter. Meanwhile, Italy's economy minister urged de-escalation, while Musk's Tesla faces challenges in Europe due to political backlash and competition from China. Musk's position reflects a shift towards traditional conservative market values, contrasting with the Trump administration's protectionist approach. The new tariffs caused significant stock market losses.