Tech billionaire Elon Musk made direct appeals to US President Donald Trump over the weekend, urging him to reverse tariffs on imports. This is the highest-profile disagreement between the two leaders. Trump’s 10% tariff on all US imports and higher duties on dozens of countries are expected to have significant economic implications.
Musk’s calls come as Tesla’s quarterly sales have dropped sharply due to his efforts to cut wasteful public spending. The company’s shares have fallen by over 42% since the beginning of the year. Musk had previously stated that the auto tariffs imposed by Trump on Tesla are having a significant impact.
Economists warn that the tariffs could lead to higher inflation, increase the risk of recession, and boost costs for US families by thousands of dollars. These concerns coincide with Trump’s promise to lower living costs, making his decision crucial in achieving this goal.
Source: https://www.reuters.com/world/us/musk-made-direct-appeals-trump-reverse-new-tariffs-washington-post-reports-2025-04-08