World News@lemmy.worldEnglish · 6 days ago

Elon Musk's zero-tariff proposal with Europe is a sign of weakness and fear, German economy minister says

www.businessinsider.com

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Elon Musk's zero-tariff proposal with Europe is a sign of weakness and fear, German economy minister says

www.businessinsider.com

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World News@lemmy.worldEnglish · 6 days ago

Germany's finance minister said Elon Musk's call for zero tariffs was "ridiculous" and motivated by the crumbling stock market.

Summary

Germany’s Economy Minister Robert Habeck criticized Elon Musk’s proposal for zero tariffs between the US and Europe, calling it a “sign of weakness” driven by fear of economic fallout.

Habeck said Musk should instead pressure Trump to lift the newly imposed tariffs, including those targeting the European Union.

Musk’s call for zero tariffs comes amid market chaos after Trump’s “Liberation Day” tariffs, which included a 20% rate on the EU. The S&P 500 plunged 10% and the Nasdaq 100 entered a bear market.

The EU prepared retaliatory measures, while China and Canada vowed to respond. Analysts warned of rising recession risks amid escalating global trade tensions.

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MuAraeOracle
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6 days ago
I see it as a power move from Germany indirectly saying: that elon should deal with backing trump.
- Victor@lemmy.world
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  5 days ago
  I mean sure, if you’re not interested in making deals, let’s go all out on calling people out. Then I don’t have any issue. 💪

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