Musk vs Trump! Calls for a 'Zero Tariff' Free Trade Zone Between Europe and America, while Bitcoin becomes collateral damage
Elon Musk recently expressed his views at an event hosted by Italian Deputy Prime Minister Matteo Salvini, advocating for the establishment of international trade with zero tariffs between the United States and the European Union, aiming to create a free trade zone between Europe and North America. Musk also expressed hopes for the liberalization of the movement of people between the two regions.
However, this view sharply contrasts with the actions of U.S. President Trump, who imposed a new round of tariffs on almost all countries on April 3, including a 20% tariff policy on certain goods imported from the EU.
Musk also criticized Peter Navarro, a White House advisor and a major supporter of Trump's tariff plan, stating that "the higher the education, the more stubborn the mind," suggesting that Navarro's Harvard PhD in economics might have led to an issue of self-inflation. Navarro quickly responded, stating that Musk was merely protecting his own interests.
The EU is seeking to form a united front against the aforementioned tariffs in the coming days and plans to approve the first set of "targeted countermeasures" against approximately $28 billion worth of U.S. imports.
Meanwhile, international stock markets are also facing more severe tensions, with major indices experiencing significant declines in last week's trading days, marking the worst downturn since the COVID-19 pandemic crash.
The price of Bitcoin also experienced a downturn, trading around $77,200 at the time of writing, with the Bitcoin futures market experiencing large-scale liquidations, exceeding $980 million in liquidations over the past 24 hours.
The differences between Musk's proposal and Trump's tariff policy not only reflect the economic policy divergences between the two public figures but may also signal changes in the global trade landscape. With increasing uncertainty in the global economy, these dynamics will undoubtedly have profound impacts on investors and markets.
In this tariff war, whose side are you on? Musk's 'global village' ideal or Trump's 'America First'? Leave your thoughts and opinions in the comments section!
