Billionaire Elon Musk says he hopes the U.S. and Europe can develop their financial relationship towards eliminating the necessity for tariffs.
Musk made the assertion throughout a video interview with Italian Deputy Prime Minister Matteo Salvini on Saturday.The billionaire says he has suggested President Donald Trump to bolster the connection with European international locations.
“On the finish of the day, I hope it is agreed that each Europe and the USA ought to transfer ideally, in my opinion, to a zero-tariff scenario, successfully making a free commerce zone between Europe and North America,” Musk stated.
He went on to say he want to see larger freedom of motion between Europe and the U.S. as effectively.
TARIFF STOCK SHOCK: NASDAQ HITS BEAR MARKET; S&P, DOW SINK
Billionaire Elon Musk says he hopes to see a free commerce zone between the U.S. and Europe. (BRENDAN SMIALOWSKI/AFP by way of Getty Pictures)
“If folks want to work in Europe or want to work in North America, they need to be allowed to take action in my opinion,” Musk stated, including that this “has definitely been my recommendation to the president.”
Musk’s assertion comes lower than per week after Trump unveiled sweeping tariffs in opposition to nearly each main nation on earth.
AFTER TRUMP TARIFFS, JPMORGAN RAISES CHANCE OF RECESSION TO 60%
The preliminary 10% “baseline” tariff took impact at U.S. seaports, airports and customs warehouses on Thursday. Greater taxes on items from 57 bigger buying and selling companions are set to begin later this week.
President Donald Trump imposed sweeping new tariffs throughout the globe. (Fox Information / Particular Report)
European Union imports will face a 20% tariff, whereas Chinese language items will probably be hit with a 34% tariff, bringing Trump’s whole new taxes on China as much as 54%.
World leaders in Europe and elsewhere have vowed to retaliate in opposition to the tariffs. China, hit more durable than some other nation, promised to “take countermeasures to safeguard its personal rights and pursuits” final week.
President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs throughout an occasion within the Rose Backyard entitled “Make America Rich Once more” on the White Home in Washington, D.C., on April 2, 2025. (BRENDAN SMIALOWSKI/AFP by way of Getty Pictures)
European Fee President Ursula von der Leyen says Europeans “really feel let down by our oldest ally.”
CLICK HERE TO GET THE FOX NEWS APP
“Uncertainty will spiral and set off the rise of additional protectionism. The results will probably be dire for hundreds of thousands of individuals across the globe,” she stated.
Fox Information’ Landon Mion and Reuters contributed to this report.
