Elon Musk says he hopes to see a future where the U.S. and Europe eliminate tariffs altogether, just days after President Donald Trump launched a sweeping trade action targeting America’s top trading partners.
“I hope the U.S. and Europe can agree to move toward what I think is ideal—zero tariffs,” Musk said during a virtual appearance at a right-wing political conference hosted by Italy’s League party on April 5. “That would mean a free trade zone between Europe and North America.”
Speaking with League party leader Matteo Salvini, Musk also voiced support for freer movement between the two regions. “In my view, if people want to work in Europe or North America, they should be allowed to do so,” he said, adding that this was also advice he had given to President Trump.
Under Trump’s executive order issued on April 2, all imports to the U.S. are subject to a 10% general tariff starting April 5. A higher retaliatory rate—up to 50%—will apply to major trade partners beginning April 9.
The announcement roiled financial markets, with U.S. stocks plunging by the end of the week. Musk himself lost over $30 billion in market value amid the selloff.
Italy, which maintains a significant trade surplus with the U.S., is among the European Union countries facing a 20% tariff under Trump’s plan. Italian Economy Minister Giancarlo Giorgetti, a League member, said on April 5 that Italy wants to “cool tensions” with Washington and warned against retaliatory tariffs.
Meanwhile, EU Trade Commissioner Maroš Šefčovič said the bloc would respond “calmly, carefully, and in a coordinated manner,” though he did not provide specifics.
Musk, a vocal supporter of right-wing parties across Europe, maintains close ties with Italian Prime Minister Giorgia Meloni and her Brothers of Italy party. He has also thrown his support behind Salvini’s League party, whose leader has advocated for using Musk’s Starlink satellite network for national communications infrastructure.
Elon Musk Clashes with Trump Advisors over Trade Policy
Tech billionaire Elon Musk is publicly feuding with two of President Donald Trump's top trade advisors, exposing a rift inside the administration over the sweeping tariffs recently imposed on nearly all of America’s major trading partners.
In a series of posts on X, formerly Twitter, Musk criticized White House trade advisor Peter Navarro, calling him "all theory, no practice." On April 6, Musk slammed Navarro’s academic credentials, saying his Ph.D. in economics from Harvard was “a bug, not a feature,” and accused him of letting “ego outpace ability.” When one user defended Navarro, Musk replied bluntly: “He’s never built anything.”
Navarro fired back on Fox News, dismissing Musk’s proposal of a U.S.–Europe free trade zone with zero tariffs. “Elon doesn’t understand trade policy,” Navarro said. “He knows how to sell cars, but let’s be clear—Tesla’s factory in Texas is just a final assembly plant. Parts come in from China, Mexico, Taiwan, Japan. President Trump wants to bring Detroit back to Detroit—not leave it in Mexico.”
On April 7, Commerce Secretary Howard Lutnick also drew attention for defending the administration’s tariff decision on CBS, after being asked why the U.S. imposed retaliatory tariffs on the Heard and McDonald Islands—remote territories inhabited only by penguins. Lutnick said the move was necessary to “close loopholes” and prevent tariff evasion.
Musk responded by posting a clip of the interview on X with a laughing emoji, writing simply: “This is hilarious.”
The tensions come days after President Trump privately told aides and cabinet members that Musk may eventually need to step away from his leadership role at the DOGE (Department of Government Efficiency), which Musk currently chairs. Trump acknowledged Musk’s contributions but said he would understand if the billionaire chose to refocus on his businesses.
The DOGE has been at the center of controversy in Trump’s second term, drawing fierce backlash for aggressively downsizing parts of the federal government, shuttering agencies, and disrupting services.
Musk’s break with the administration comes as the new tariffs begin to rattle global markets. According to CNBC, Musk’s net worth has dropped more than $30 billion since Trump’s trade announcement last week.
(According to Reuters, AFP, Independent, NY Post, CNN)
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