The Tesla CEO additionally advocated for the free motion of individuals between the 2 areas.
Tech entrepreneur and particular adviser to the president, Elon Musk, mentioned Saturday that he desires zero tariffs between the US and Europe, days after the Trump administration applied broad duties on international locations world wide.
Chatting with Italian Deputy Prime Minister Matteo Salvini throughout an on-camera occasion, Musk additionally mentioned he desires extra freedom of motion between North America and Europe.
“On the finish of the day, I hope it’s agreed that each Europe and the US ought to transfer ideally, in my opinion, to a zero-tariff scenario, successfully making a free commerce zone between Europe and North America,” Musk mentioned.
Relating to motion between the 2 areas, Musk added that “if individuals want to work in Europe or want to work in North America, they need to be allowed to take action, in my opinion,” including that it “has definitely been my recommendation to the president.”
As a part of what the administration referred to as “Liberation Day,” on April 2, President Donald Trump introduced a common baseline tariff of 10 % and better charges for main U.S. buying and selling companions which are at the moment in commerce surpluses with the US. Nations within the European Union, which the Trump administration calculated have been charging the US 39 % in tariffs and different commerce prices on its items, have been hit with a 20 % generic tariff below the plan.
Over the weekend, Musk criticized White Home commerce adviser Peter Navarro associated to the tariffs. Navarro instructed Fox Information’ “Sunday Morning Futures” that the Tesla CEO is “merely defending his personal pursuits, as any businessperson would do.”
“He’s in Texas assembling automobiles which have massive components of that automobile from Mexico, China—the batteries come from Japan or China, the electronics come from Taiwan,” Navarro added.
Italy’s Economic system Minister Giancarlo Giorgetti mentioned earlier on Saturday the federal government wished “de-escalation” with the US following Trump’s tariff announcement, and warned in opposition to Italy—a member of the European Union—imposing retaliatory tariffs.
Over the previous week or so, Tesla inventory declined greater than 4 %, whereas the three main American inventory indexes noticed bigger plunges of 5 to 9 % after the tariff bulletins.
Beforehand, Musk has been cautious about tariffs. Throughout an interview with podcaster Joe Rogan final yr, Musk mentioned that duties might create provide chain issues for plenty of corporations.
“I believe it’s essential to watch out with tariffs,” Musk mentioned on the time. “I deal loads with provide chain points, like the worldwide automotive provide chain for Tesla is extremely complicated. So when there are sudden adjustments in tariffs … it messes every little thing up.”
Reuters contributed to this report.