Elon Musk Slams Trump’s Tariff Strategy as Markets Plunge

Elon Musk, CEO of Tesla and head of the Department of Government Efficiency (DOGE), has publicly criticized Peter Navarro, a key architect of Donald Trump’s controversial tariff policy. Navarro, who served as the president’s adviser on trade and manufacturing, helped implement a reciprocal tariff strategy that has led to significant market turmoil, resulting in a staggering $2.5 trillion loss in U.S. stock values—an impact that has personally cost Musk over $30 billion.

While Musk has often been a vocal supporter of Trump, he has remained notably silent since the announcement of the tariffs, dubbed “Liberation Day” by the president. However, he took to X (formerly Twitter), a platform he owns, to voice his discontent with Navarro’s defense of the tariffs. Responding to a CNN clip where Navarro touted his Harvard education, Musk remarked, “A PhD in Econ from Harvard is a bad thing, not a good thing. Results in the ego/brains>>1 problem.”

Despite a counterargument from another user who defended Navarro’s stance, Musk dismissed the economist’s credibility, stating bluntly, “He ain’t built s***.”

Navarro’s controversial tenure has been marred by legal issues; in 2022, he was indicted on two counts of contempt of Congress for refusing to comply with a subpoena from the White House Select Committee investigating the January 6 Capitol riot. He received a four-month jail sentence and a $9,500 fine, becoming the first former White House official to be imprisoned on such charges.

Further fueling the discourse, Musk engaged with a quote attributed to conservative economist Thomas Sowell, which criticized Harvard alumni in times of disaster: “In every disaster throughout American history, there always seems to be a man from Harvard in the middle of it.” Musk responded simply with “yup,” echoing Sowell’s skepticism of experts from elite institutions.

Despite the backlash against Trump’s tariffs, which have drawn criticism even from some conservatives, Musk continues to face mounting scrutiny over his role at DOGE. Under his leadership, the agency has called for the dismissal of tens of thousands of federal workers, effectively undermining entire agencies and diminishing their operational efficiency. This has sparked protests against both Trump and Musk, with demonstrators expressing their frustrations over the dismantling of federal structures.

Public outcry has manifested in various forms, including protests outside Tesla facilities and calls for boycotts of the company’s vehicles. Some individuals have resorted to vandalizing Tesla cars and showrooms, illustrating the depth of dissatisfaction with Musk’s influence in government matters.

Tesla recently reported a 13% decline in first-quarter sales compared to the previous year, marking its worst performance since 2022. This downturn, coupled with the backlash against Musk and the implications of Trump’s tariffs, has led to a 10% drop in Tesla’s stock price.

Musk’s recent comments come amid speculation that Trump has informed his close associates of Musk’s impending withdrawal from his duties at the White House, though no timeline has been disclosed.