As Tesla The shares fell for a fourth day in a row, CEO Elon Musk, Peter Navarro by President Donald Trump by Peter Navarro.
Musk, the richest person in the world, began to follow Navarro over the weekend and posted on X that “a doctoral thesis in Econ from Harvard is a bad thing, not a good thing”, an indication of Navarro's degree. Whatever the subtlety remained at the beginning of the week has disappeared since then.
On Tuesday, Musk wrote, “Navarro is really an idiot” in response to the remark of the trade advisor that Tesla is more of a “caravia” than a car manufacturer, and added that Navarros comments are “demonstrably wrong”. Musk named Navarro “Dumber as a sack of brick” before later excused sarcastically with bricks. Musk also called Navarro “dangerously stupid”.
Musk's attacks on Navarro have represented the public spitting between members of Trump's inner circle since the president took office in January and show that the steep tariffs, which Trump announced on Wednesday in more than 180 countries and territories, have no universal approval.
When asked about the feud in a briefing on Tuesday, the press spokesman for the White House, Karoline Leavitt, said: “You can see, these are obviously two people who have very different views of trade and tariffs.”
“Boys will be boys and we will have their public sparring continued,” she said.
The younger brother of Musk, Kimbal – a restaurant owner, entrepreneur and board member of Tesla – has joined the campaign. Kimbal Musk criticized the tariffs on Monday and called her a “permanent tax on the American consumer”. He followed on Tuesday by releasing on X that the Ponpli-US stand of the China “no game was to be played by C-minus students like Peter Navarro”.
For the Tesla CEO, the name call to the terms and conditions seems to be bound.
Tesla's share has dropped by 22% in the last four trading sessions and 45% a year. Tesla has lost more than 585 billion US dollars since turning the calendar, which corresponds to $ 10 billion in paper losses for Musk, which is also CEO from SpaceX and owner of Xai and Social Network X.
Even before Trump explained his plan for widespread tariffs, he had already placed a 25% tariff on vehicles that were not gathered in the United States. Many analysts said Tesla could withstand these tariffs better than the competitors, since the vehicles sold in the USA are gathered in Germany.
However, the company's production costs are increased due to the tariffs for materials and parts of foreign suppliers. Canada and Mexico are among the leading sources of US steel imports, and Canada is the largest aluminum supplier in the country, while in China and Mexico the most important suppliers of printed ladder boards in the automotive industry houses.
At an event on Saturday, which was organized by right-wing Italian deputy Prime Minister Matteo Salvini, Musk said: “In my opinion, both Europe and the United States should create a free trading zone between Europe and North America in a situation in a situation in a zero tariff situation.”
Musk, whose view of the trade relationships with Europe is in contrast to the guidelines introduced by Trump, has a legitimate interest in the region. Tesla has a large car factory outside of Berlin, and the European Commission previously contacted SpaceX for starts.
Tesla's business had stalled before the tariffs. On Wednesday, the company reported a 13% decline in deliveries in the first quarter compared to the previous year and estimated the analysts. This report landed the worst quarter of Tesla two days after Tesla's share price since 2022.
Musk, who spent around $ 290 million to bring Trump back to the White House, now leads Trump's so-called Department of Government Efficiency or Doge, which has reduced the costs, eliminates regulations and reduced tens of thousands of federal jobs. In the first quarter, Tesla was hit by protest waves, boycotts and a criminal activity that aimed at vehicles and facilities in response to Musk's political rhetoric and his work in the White House.
Correction: A previous version of this story had a wrong figure for Musk's contributions to the Trump campaign.
REGARD: Brad Gerstner explains his Tesla position
Comments are closed.