As Elon Musk reveals he tried to convince President Donald Trump not to implement sweeping tariffs, U.S. manufacturers are linking the levies with industry troubles.
In an interview with investor and entrepreneur Nikhil Kamath released on Sunday, Musk said he warned Trump against tariffs, arguing they “create distortions in markets.” The Tesla CEO has previously expressed concern that import taxes would cause a recession and drive up the prices of goods. In April, the EV maker stopped taking orders for some models in China, which then faced a retaliatory 125% tariff.
