Elon Musk Proposes Zero Tariff Situation and Free Trade Zone Between Europe and America

Elon Musk Proposes Zero Tariff Situation and Free Trade Zone Between Europe and America

Elon Musk, who has served as a close advisor to U.S. President Donald Trump, took a stance against Trump's decision to impose tariffs on most foreign countries. On Saturday, Musk suggested that a "zero-tariff situation" should be created between Europe and the United States, and a "free trade zone" should be established.

Speaking at "The League Congress" event organized by Italy's right-wing Deputy Prime Minister Matteo Salvini, Musk said, "I hope that both Europe and the United States move to a zero-tariff situation, which would essentially create a free trade zone between Europe and North America."

He further stated, "I hope this happens, and there should be even more freedom for people to travel between Europe and North America. If they want to work in Europe or the U.S., they should definitely be allowed to do so."

Musk's comments come after Trump's tariff plan, which was announced last week, where Trump declared a 20% tariff on the European Union.

After Trump's tariff announcement on Thursday, the markets saw a significant decline, with the S&P 500 index dropping nearly 5%, the Dow Jones falling 4%, and the Nasdaq decreasing by 6%. These were the biggest declines since the COVID-19 pandemic in 2020.

At an event at the White House on Wednesday, when announcing the tariffs, Trump said, "America has been looted, exploited, raped, and plundered," and later declared that the United States was entering a "golden age."

On Saturday, Trump wrote in a post on his Truth Social platform, "China and many other countries have treated us very badly. We were 'foolish and helpless victims.'" He added, "This is an economic revolution, and we will win. It will be tough, but the end result will be historic. We will make America great again!"

Meanwhile, European leaders have threatened to retaliate against Trump's tariffs. European Commission President Ursula von der Leyen wrote in a post, "Europe is ready to respond. We will always protect our interests and values. We are ready for discussions and would like to start negotiations face-to-face."

In response, the European Union and other countries are planning countermeasures against the tariffs.

Musk's opposition to Trump's tariff policy, proposing a free trade system, could open up new possibilities for relations between Europe and the United States.