Top Line
Trump’s trade adviser Peter Navarro on Sunday denied a rebuttal with billionaire Elon Musk on President Donald Trump’s sweeping tariffs.
Elon Musk will be watching at the cabinet meeting at the White House on March 24th.
AFP via Getty Images
Important facts
Musk responded to a video on Navarro’s X earlier on Saturday defending how the Trump administration calculated tariffs on goods from various countries, suggesting that traded visors “Harvard econ doctorate is not a bad thing, not a good thing,” suggesting that Trump officials will respond to another user defending Navarro by saying it was “not built.”
The billionaire also responded “Yes” to a post citing economist Thomas Sowell. Thomas Sowell said, “In every disaster throughout American history, it seems like there’s always someone in the middle of Harvard University.”
Navarro was asked on Fox News Sunday about Musk’s comments and whether there is a “rift” between him and the billionaire.
“Eron is great when he’s in his Dogeranine,” Navarro said, but the billionaire claims to “sell cars” and “simply protecting his own interests” by opposing his and Trump tariffs “as businessmen do.”
Musk’s comments about Navarro came as billionaires remained largely from conversations about Trump’s tariffs, but he said on Saturday he hopes the US and Europe move towards the tariff system after Trump imposes a 20% tariff rate on goods from the European Union.
Important Quotes
“We can say anything he wants,” Navarro told Fox News about Musk criticizing him. “We know what it is, and it’s fine. It’s fine.”
How did Trump’s tariffs affect Elon Musk?
Musk cut his net worth in the wake of Trump’s tariff announcement, but Forbes still values the billionaire as the wealthiest person in the world, with an estimated net worth of $362.5 billion as of Sunday. Tesla shares fell 14% between Trump’s tariff announcements on Wednesday evening and Friday afternoon, with the billionaire previously acknowledging that “the impact of tariffs on Tesla remains significant” despite more US manufacturers in March. The company also sources products made in Taiwan, Vietnam and Thailand, so mask-driven SpaceX shares also fell 12% last week.
Will Elon Musk leave the Trump administration?
Musk’s comments against Trump’s tariffs have also come in as the president reportedly proposed that Musk could leave his White House Post after Musk had a widespread influence on the administration as a special government employee. Under that designation, Musk will only be able to work at the White House for 130 days within 365 days, but CBS News notes that it is still unclear whether it will include weekends. Trump told reporters Thursday that “Mask wants to go back to his business,” leaving the White House “in a few months,” at which point the president’s cabinet will “take over completely.” Vice President JD Vance has said that Musk will remain as “friends and advisors” after he leaves his formal role, and that the government’s efficiency mask lead will continue even after the billionaire sets out.
Important background
Trump on Wednesday rolled out tariffs that were wiped out in almost every country, implementing long-standing campaign promises despite widespread warnings from economists, saying that doing so would raise prices for U.S. consumers and harm the economy. Stocks plummeted after Trump’s announcement, and economic experts warn that tariffs could cause a recession. The automotive industry has been hit hardest, with 25% tariffs coming into effect last week on imported cars and trucks. He avoids the tariff spotlight, but Musk and Doji have worked on widespread cuts to the federal workforce that sparked federal spending and serious controversy. Polls show that Americans mostly retain Musk’s negative views, with Tesla stocks falling even before Trump’s tariffs amid the public’s protests against the company and vandalism against Tesla vehicles. Otherwise, Musk’s government work was considered a boon to his business. He received millions of dollars from government contracts and faced numerous government investigations before Trump took office.
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