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Television of Tuesday, 8 April 2025

    

Source: www.ghanawebbers.com

Musk labels Trump trade adviser 'moron' over Tesla comments

Elon Musk has called Peter Navarro, President Trump's trade adviser, a "moron." This was in response to Navarro's comments about Tesla. Musk described Navarro as "dumber than a sack of bricks" on his social media platform X.

Navarro criticized Musk during an interview. He said, "[He's] not a car manufacturer. He's a car assembler." Navarro discussed Trump's tariff policy and expressed a desire for more US-made parts.

Musk disagreed with Navarro's claims about Tesla, calling them "demonstrably false." This exchange highlighted the disagreement between Trump's trade team and Musk. Musk leads the Department of Government Efficiency (Doge), which aims to reduce federal spending.

Later, White House spokeswoman Karoline Leavitt addressed the conflict. She noted that both men have different views on trade and tariffs. "Boys will be boys," she said, allowing their public sparring to continue.

Trump has justified his tariffs by saying they aim to revive US manufacturing. Navarro echoed this sentiment during his CNBC appearance. He stated that the US auto industry currently relies heavily on foreign parts.

Navarro believes that if America makes more products, wages and profits will rise. In response to Navarro's comments, Musk shared an article from Kelley Blue Book. The article claimed Tesla vehicles had the highest percentage of US-made parts.

Musk asserted that Tesla is the most vertically integrated auto manufacturer in America. Technology analyst Dan Ives noted that Tesla is less exposed to tariffs than GM or Ford. However, he mentioned that Tesla sources many parts from outside the US, especially China.

Ives warned that current tariffs could disrupt Tesla's supply chain and global advantage against competitors like BYD. Jeffrey Sonnenfeld from Yale School of Management hosted business executives who shared concerns about Trump's trade policies.

He reported that 79% of CEOs felt embarrassed in front of international partners due to these policies. Additionally, 89% believed it could lead to a recession and was misguided economic policy.

Before his spat with Navarro, Musk hinted at dissatisfaction with tariff policies. He posted a video featuring economist Milton Friedman discussing free market values on Monday.

Trump's tariffs have caused stock market declines globally as investors anticipate lower profits for firms. On March 27, Musk acknowledged that even Tesla would face tariff disruptions.

Another Trump supporter, billionaire Bill Ackman, called for a pause on tariffs to avoid major economic disruption. He stated in an X post that current plans would cause "unnecessary harm."

Navarro is known as an ultra-Trump loyalist and faced jail time for ignoring a subpoena related to the 2020 election investigation. He is considered one of the main architects behind Trump's tariff policy.