Billionaire Elon Musk wishes the U.S. and Europe will strengthen their economic ties to the point where tariffs would be unnecessary.
Musk said this during a Saturday video chat with Italian Deputy Prime Minister Matteo Salvini.The businessman claims he has counseled President Donald Trump to strengthen ties with European nations.
Musk stated, “At the end of the day, I hope it’s agreed that both Europe and the United States should move ideally, in my view, to a zero-tariff situation, effectively creating a free trade zone between Europe and North America.”
He continued by saying he would also want to witness more mobility between Europe and the United States.
Musk added, “If people want to work in Europe or want to work in North America, they should be allowed to do so in my opinion,” adding that this “has surely been my advice to the president.”
Musk’s remarks came under a week after Trump announced broad tariffs on practically every major nation on earth.
On Thursday, U.S. seaports, airports, and customs warehouses saw the first 10% “baseline” levy. Later this week, higher levies on products from 57 major trading partners will begin.
While Chinese products would be subject to a 34% tax, European Union imports will be subject to a 20% tax, so increasing Trump’s total new tariffs on China to 54%.
Leaders of nations in Europe and other parts of the world have promised to respond to the levies. Last week, China, struck harder than any other country, vowed to “take countermeasures to protect its own rights and interests”.
Ursula von der Leyen, president of the European Commission, claims that Europeans “feel let down by our oldest ally.”
Uncertainty will snowball and set out more protectionism. For millions of people all throughout the world, the results will be terrible, she added.