Elon Musk wants 0% tax between US and Europe

Billionaire Musk hopes to see the US and Europe eliminate tariffs on each other in the future, after Mr. Trump imposed large-scale reciprocal tariffs.

“I hope the US and Europe can agree to go in the direction that I think is ideal, which is zero tariffs. That means creating a free trade area between Europe and North America,” billionaire Elon Musk, a close adviser to US President Donald Trump, said during an online appearance at the April 5 conference of the right-wing League party in Italy.

Interviewed by League party leader Matteo Salvini at the conference, Mr Musk expressed hope to see people move more freely between Europe and North America.

“In my view, if people want to work in Europe or North America, they should be allowed to do that,” billionaire Musk said, adding that this was also his advice to President Trump.

American billionaire Elon Musk at a cabinet meeting at the White House on March 24. Photo: AFP

Under Trump’s April 2 order, all imports into the US from April 5 will be subject to a 10% tariff. From April 9, trading partners will be subject to higher reciprocal tariffs of up to 50%.

President Trump’s tariff announcement sent the US stock market plummeting over the weekend and caused huge losses for many billionaires, including Mr. Musk, who lost more than $30 billion.

Italy, which has a large trade surplus with the United States, will be hit with a 20% tariff along with other members of the European Union (EU). Italian Economy Minister Giancarlo Giorgett, a member of the League party, said on April 5 that the government wanted to “de-escalate tensions” with the United States after President Trump’s move, while warning against retaliatory tariffs against Washington.

Meanwhile, EU Trade Commissioner Maros Sefcovic said the organization would retaliate against Mr. Trump’s tariffs in a “calm, careful, phased and unified manner,” but did not give specifics.

Musk, who has repeatedly expressed support for right-wing parties across Europe, has close ties to Italian Prime Minister Giorgia Meloni and her Brothers of Italy party. The Trump adviser has also expressed support for Salvini’s League party, which has called on the Italian government to choose Starlink as its satellite communications provider.