Tesla CEO and tech billionaire Elon Musk made direct but unsuccessful appeals to U.S. President Donald Trump over the weekend to reverse newly announced import tariffs, the Washington Post reported on Monday, citing two sources familiar with the matter.
The dispute marks the most high-profile disagreement yet between Musk and Trump. Last week, Trump announced a 10% baseline tariff on all imports to the United States, along with higher duties targeting dozens of other countries. Economists warn the new tariffs could reignite inflation, raise the risk of a recession, and increase costs for American households—an economic threat for Trump ahead of the upcoming election.
Musk, who serves as a Trump adviser and works to reduce U.S. public spending through a new “Department of Government Efficiency,” also called for zero tariffs between the U.S. and Europe during a virtual address at a League Party congress in Florence, Italy.
Tesla is already feeling the strain: the automaker reported a sharp drop in quarterly sales, and its shares closed at $233.29 on Monday, down more than 42% year-to-date. Musk has previously acknowledged that Trump’s tariffs have had a “significant” impact on Tesla’s business.
