Elon Musk
hopes for ‘zero-tariff situation’ between US and EU
By Robert
Ilich, CNN
Published
3:41 PM EDT, Sat April 5, 2025
https://edition.cnn.com/2025/04/05/business/musk-tariffs-us-europe/index.html
CNN
—
Elon Musk,
the world’s richest man and the face of the Trump administration’s Department
of Government Efficiency, said Saturday that he hopes for a “zero-tariff
situation” between Europe and the United States.
“At the end
of the day, I hope it’s agreed that both Europe and the United States should
move ideally, in my view, to a zero-tariff situation, effectively creating a
free-trade zone between Europe and North America,” Musk said in a video-link
interview with Matteo Salvini, Italy’s deputy prime minister and the leader of
the far-right League party, during a League congress in Florence.
Musk’s
comments come after President Donald Trump on Wednesday announced 20% tariffs
on goods from the European Union.
In an
exchange Saturday on his social media platform, X, Musk slammed Peter Navarro,
the Trump administration’s senior counselor for trade and manufacturing, who
has championed the tariffs.
“A PhD in
Econ from Harvard is a bad thing, not a good thing,” Musk posted about
Navarro’s academic background. The Tesla CEO also added of Navarro: “He ain’t
built sh*t.”
Musk,
meanwhile, has seen Tesla sales plunge in recent months amid his controversial
cost-cutting role with DOGE. Sales fell 49% in Europe alone in the first two
months of the quarter, according to the European Automobile Manufacturers’
Association.
In Italy,
Tesla’s first-quarter sales slid 7% compared with the same time last year,
according to the country’s transport ministry.
Italian
Economy Minister Giancarlo Giorgetti said Saturday that Italy, which posted a
trade surplus with the United States of about 39 billion euros ($42.74 billion)
in 2024, aims for a “de-escalation” with the United States over tariffs.
In 2024,
Italy’s economy grew by just 0.5% compared with 2023.
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