Elon Musk, CEO of Tesla and adviser to Donald Trump, personally asked the U.S. President to reconsider the new tariffs on Chinese goods, as reported by The Washington Post. Despite his efforts, Trump has not changed his stance yet.
Trump has proposed a 50% tariff on Chinese imports, on top of an earlier 34% duty. This move has raised alarm among business leaders and economists, who fear it could lead to inflation and even trigger a recession.
Investor Bill Ackman supports Trump’s overall goal of using tariffs to push for fair trade, but he suggests a delay before implementing them. He believes a 30, 60, or 90-day pause would give time for negotiations and prevent unnecessary economic damage.
Ackman warns that rushing into high tariffs without giving countries a chance to negotiate could hurt vulnerable companies and people. He agrees Trump can take tough action if talks fail, but urges a more balanced approach.
Elon Musk calls Trump’s trade advisor Peter Navarro a “moron.”
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