The President of the United States, Donald Trump, has doubled his tariff plan, even if the markets crashed around the world.
However, there are signs of departments between Trump’s helpers with important allies Elon Musk, who publicly come into conflict with trade advisor Peter Navarro on Saturday. Others have also presented different stories.
Here is more about what happened:
What happened between Musk and Navarro?
On Wednesday, Trump announced comprehensive tariffs that affect most of the trading partners of America. This was a great break of decades of US trade policy and triggered criticism and concern of economists and countries that aimed at Trump’s tariffs.
As a result, the three most important stock indices in the USA – the Dow Jones Industrial Average, S&P 500 and Nasdaq – fell by more than 5 percent last week. This was the largest decline in stock markets in the United States since 2020 during the Covid 19 pandemic.
The long -time Trump adjutant and the senior advisor for trade and manufacturing, Peter Navarro, defended the tariffs in an interview with CNN on Thursday.
“The market will find a butt. It will be soon, and from there we will have a bullish boom, and the Dow will reach 50,000 during Trump’s term,” said Navarro. From Monday the Dow Jones was at 38,314 before the start of trade.
After an X user posted a clip from Navarro who spoke to CNN and showed the advisor from Harvard University’s doctorate, Musk struck back on the platform that he owns.
“A doctoral thesis in Econ by Harvard is a bad thing, not a good thing,” said Musk.
The first phase of the new tariffs – 10 percent taxes to countries such as Great Britain, Australia, Argentina and Saudi Arabia – came into force on Saturday.
Higher levies, which Trump calls mutual tariffs, will come into force against countries such as China and India on Wednesday.
What did Musk say about tariffs in Europe?
The hit against Navarro has not been the only comment from Musk in the past few days.
On Saturday, Musk, who monitored the government Ministry (Doge), who issued the government, was a conversation between VideoLink with the Italian deputy Prime Minister Matteo Salvini, the leader of the right -wing extremist Ligaparty.
During this conversation, Musk expressed hope for a “situation with zero tariff” between the USA and Europe, even if Trump imposed 20 percent tariffs from the European Union.
“I hope it has been agreed that both Europe and the United States should move in a situation with zero tariff ideally and effectively create a free trade zone between Europe and North America,” said Musk.
Musk – The richest man in the world, the CEO of SpaceX and Tesla and the largest shareholder of both companies – has exposed his companies with setbacks in recent weeks. In Europe alone, Tesla’s sales in January and February fell by 49 percent compared to the same months in 2024.
Tesla’s share price has also stumbled. It is about half of what it was in December.
How did Navarro react?
In a Fox News interview on Sunday, Navarro answered Musk’s comments on the tariffs in Europe.
“It was interesting to hear how Elon Musk spoke to Europe about a zone with zero tariff zone. He doesn’t understand that,” said Navarro.
“What I think is important is important that it sells cars. That is what he does,” added Navarro, suggesting that Musk’s comments were associated with tariffs with his business interests.
What had Muschus used to say about tariffs?
Last month, Tesla warned the US government that tariffs could harm electric vehicles when Trump’s tariff destinations could impose their own taxes for American products.
In a not signed letter to the US trade representative Jamieson Greer, Tesla said: “Us exporters are by nature disproportionate effects if other countries react to US trade actions.”
The company added: “Past trade campaigns of the United States have led to direct reactions from the targeted countries, including increased tariffs for electric vehicles imported into these countries.”
On March 26, Trump imposed 25 percent tariffs to auto imports and certain automotive parts.
In response to this, Musk wrote about X: “Important to note that Tesla is not intact here. The tariff effects on Tesla is still important.”
Are there any other signs of splits within the Trump team?
The Minister of Commerce Howard Lutnick told CBS News on Sunday that the 10 percent basic tariffs “come into force for days and weekly in place and weeks” and that the higher mutual tariffs would also come into force.
On the same day, however, the Finance Minister Scott Bessent announced the press of the NBC that more than 50 countries Washington had negotiated the reduction of the taxes. “Donald Trump underestimates the market,” he said in response to the market accident.
Also on Sunday, CNN -anchor Jake Tapper asked the agricultural secretary Brooke Rollins whether the tariffs are here to be said like Trump and Lutnick. Rollins did not answer this question directly.
