Tesla CEO and U.S. government official Elon Musk on Saturday backed eventually ending all tariffs and creating a free-trade zone between the U.S. and the European Union, just days after U.S. President Donald Trump slapped hefty tariffs on the EU and most of the rest of the world.
Musk’s comments, made during a video-streamed interview at a congress organized by Italian Deputy Prime Minister Matteo Salvini and his far-right Lega party, followed Trump’s imposition of a 20 percent tariff on all imports from the EU.
“At the end of the day, I hope it is 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,” Musk said.
It’s a sign of dissent from Musk with the current U.S. administration policy. Musk has been leading cost-cutting efforts in the U.S. government through his Department of Government Efficiency (DOGE) and is a close Trump adviser. POLITICO on Wednesday reported that Trump has told his inner circle that Musk would step away from his government role in the coming weeks.
Musk’s Tesla has been underperforming in recent months, and the carmaker’s share price has almost halved since December. The company last week posted a far steeper-than-expected decline in car deliveries in the first quarter, with sales collapsing in several European markets — a sign that Musk’s political activities could impact his companies.
In Saturday’s interview, Musk also said he wanted “more freedom of people to move between Europe and North America.”
Musk also attacked Europe’s regulatory burden and said it was kept in place to protect some very large companies.
“There are too many rules and regulations that make it very difficult to create a company and do too much to protect large companies at the expense of small to medium-sized companies,” he said.
Brussels is “amplifying” that, and “radical deregulation is necessary,” Musk said.
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