Elon Musk's brother jabs at Trump's tariffs: ‘we're not as good at making all things'
Kimbal Musk joined his brother, Elon, in criticising tariffs, calling US President Donald Trump's recent moves a 'structural, permanent tax on the American consumer'.
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'Even if he is successful in bringing jobs on shore through the tariff tax, prices will remain high and the tax on consumption will remain the form of higher prices because we are simply not as good at making all things,' Kimbal Musk, a Tesla Inc. board member, said in a post on X. He added the policy could lead to a cycle of less consumption and less jobs.
Elon Musk's comments on tariffs featured prominently in a 'Saturday Night Live' skit and in comments by Senator Ted Cruz, who said there are 'angels and demons' vying for influence as the White House plans to impose the steepest US trade duties in more than a century.
'Elon is one of the angels,' Cruz said on his podcast released on Monday. 'This is a good, good voice that is focused on US jobs that I hope the president is listening to.'
Tesla's stock skyrocketed following Trump's election, but has fallen more than 50 per cent since closing at a record high in mid-December.
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Just a month ago, Kimbal Musk had thanked Trump for supporting Tesla after the electric vehicles were featured at a press conference on the White House lawn. Outside his work with Tesla, Musk also owns a restaurant chain.
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