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Forbes Talks

Why Trump’s Tariffs Are Disastrous For Elon Musk

Forbes Talks

Forbes Media LLC

Business News, Forbes, Business, News, Economics, Entrepreneurship, Politics, Policy, Breaking News

54 Ratings

🗓️ 15 April 2025

⏱️ 25 minutes

🧾️ Download transcript

Summary

From Tesla to SpaceX to xAI, Elon Musk’s sprawling global business empire will be slammed by Trump’s tariffs regime. Here’s how.


Read the full story on Forbes: https://www.forbes.com/sites/johnhyatt/2025/04/08/trumps-tariffs-are-disastrous-for-elon-musk/

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Transcript

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0:00.0

Hi, everybody. I'm Brittany Lewis, a breaking news reporter here at Forbes. Joining me now is my

0:08.0

Forbes colleague, staff writer John Hyatt. John, thanks so much for joining me. Good to be here,

0:12.7

Brittany. Looking at the past three months of Trump round two, there are really two pillars that are

0:18.9

defining President Trump's second term, tariffs and

0:22.1

Elon Musk. And as we saw with tariffs, President Trump has threatened, started, paused,

0:27.3

and escalated trade wars with allies and adversaries alike. And as we see with Elon Musk,

0:32.6

he is a senior Trump advisor. He has endorsed President Trump since July and has really been an ardent

0:39.8

supporter. He's also the face of Doge. So I'm curious at the intersection of these two pillars

0:45.7

here, Elon Musk and tariffs. What has Elon Musk said about tariffs so far? What has been his

0:51.0

reaction? Yeah, so tariffs have been almost a breaking point between Musk and Trump.

0:58.0

Until Liberation Day, just two weeks ago now,

1:03.0

these two men have really been in lockstep.

1:06.0

Musk has been supporting Trump and his administration's slew of executive orders and initiatives at every step,

1:15.1

while Trump has been supporting Elon Musk's controversial Doge efforts.

1:20.2

But with the Liberation Day tariffs and the ensuing market chaos, we have seen a sort of break between Trump and Musk, which has been

1:29.4

sort of playing out on X, Musk's social media platform, as well as between an ongoing spat

1:35.3

between Musk and one of Trump's critical trade advisors, Peter Navarro. And so it's been really

1:41.5

interesting to play out. And there's a lot at stake for Musk.

1:44.5

The tariff back and forth was really the first time we saw Elon Musk not publicly in

1:49.6

lockstep with President Trump.

1:51.4

And this really came to a head after President Trump's top White House trade advisor,

1:56.3

Peter Navarro, made some comments about Elon Musk.

...

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