Tech mogul Elon Musk, who has served as a close advisor to President Donald Trump, on Saturday broke with the president’s decision to impose expansive tariffs on most foreign nations, saying that he hopes to see a “zero tariff situation” between the United States and Europe.
“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 between Europe and North America,” Musk told “The League Congress” on Saturday, an event hosted by right wing Italian Deputy Prime Minister Matteo Salvini.
“That’s what I hope occurs, and also more freedom of people to move between Europe and North America if they wish, if they wish to work in Europe or wish to work in America, they should be allowed to do so, in my view. So that has certainly been my advice to the president,” Musk added.
Musk’s remarks come days after Trump unveiled tariffs on some of the nation’s largest trading partners. The U.S. is set to impose a 20% tariff on the European Union under Trump’s plan.
On Thursday, the day following Trump’s announcement, markets plunged, as the S&P 500 index fell nearly 5%, the Dow Jones Industrial Average dropped 4% and the Nasdaq plummeted 6%, with all three posting some of the largest declines since the start of the Covid pandemic in 2020.
During a White House event announcing the tariffs on Wednesday, Trump said the U.S. has been “looted, pillaged, raped and plundered,” by other nation’s trading policies and called the next era in the U.S. the “golden age of America.”
In a post on Truth Social Saturday, after two days of the stock market falling, Trump was steadfast in his rationale for imposing these widespread tariffs, writing that China “and many other nations, have treated us unsustainably badly. We have been the dumb and helpless ‘whipping post.'”
“THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN. HANG TOUGH, it won’t be easy, but the end result will be historic. We will, MAKE AMERICA GREAT AGAIN!!!” the president added.
So far, European leaders have threatened to respond to Trump’s tariffs, with the President of the European Commission, Ursula von der Leyen, writing in a post on X that, “Europe is prepared to respond. We’ll always protect our interests and values. We’re also ready to engage. And to go from confrontation to negotiation.”
The European Union, as well as other nations targeted by tariffs, has threatened to impose countermeasures later this month.
Trump has long railed against free trade, which Musk expressed support for on Saturday. The White House and Musk did not immediately respond to a request for comment for this story.
Matt Rivera and Rob Wile contributed.