Billionaire Elon Musk says he hopes the US and Europe can build their economic ties to eliminate the need for tariffs.
Musk issued a statement on Saturday in a video interview with Italian Deputy Prime Minister Matteo Salvini. The billionaire says he advised President Donald Trump to strengthen ties with European countries.
“At the end of the day, I hope that both Europe and the US are, ideally, agreeing to move ideally to effectively create a free trade zone between Europe and North America,” Musk said.
He went on to say he wanted to see greater freedom of movement between Europe and the United States.
Customs Stock Price Shock: Nasdaq hit the bear market. S&P, Dowsink
Billionaire Elon Musk says he wants to see a free trade zone between the US and Europe. (Brendan Smialowski/AFP via Getty Images)
“If people want to work in Europe or work in North America, in my opinion they should be allowed to do so,” Musk said.
Musk’s statement comes less than a week after Trump announced tariffs that have been wiped out on almost every major country on the planet.
After Trump’s tariffs, JP Morgan raises the chances of a recession to 60%
The first 10% “baseline” tariffs came into effect at US ports, airports and customs warehouses on Thursday. Higher taxes on goods from 57 large trading partners are expected to begin later this week.
President Donald Trump has wiped out new tariffs around the world. (Fox News/Special Report)
European Union imports face 20% tariffs, but Chinese goods will be hit by 34% tariffs, bringing Trump’s total tax on China to a maximum of 54%.
World leaders in Europe and elsewhere have vowed to retaliate against tariffs. China hit harder than any other country, pledging last week to “take measures to protect its own rights and interests.”
President Donald Trump keeps charts when making mutual tariff remarks at an event entitled “Make America Walthy” in the White House in Washington, DC on April 2, 2025 (Brendan Smialowski/AFP via Brendan Smialowski/AFP)
The European Commission’s Ursula von der Leyen says that Europeans “feeling disappointed in our oldest allies.”
Click here to get the Fox News app
“Uncertainty swirls and causes further rise of protectionism, and the consequences will be disastrous for millions of people around the world,” she said.
Landon Mion and Reuters of Fox News contributed to this report.
Anders Hagstrom is a reporter for Fox News Digital, covering national politics and major broken news events. Submit your tip to anders.hagstrom@fox.com or via Twitter: @hagstrom_anders.
Source link
