Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Wednesday, April 9, 2025
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

Elon Musk brother Kimbal says Trump tariffs permanent tax on consumers

April 8, 2025
in News
Reading Time: 3 mins read
A A
Elon Musk brother Kimbal says Trump tariffs permanent tax on consumers
0
SHARES
ShareShareShareShareShare

READ ALSO

China supply chain diversification challenged by Trump’s tariffs

RBI delivers second straight rate cut as U.S. tariffs kick in

Kimbal Musk, co-founder of The Kitchen Community, speaks during the annual Milken Institute Global Conference in Beverly Hills, California, May 3, 2016.

Patrick T. Fallon  | Bloomberg | Getty Images

Elon Musk’s younger brother, Kimbal, took to the social network X on Monday to lambaste President Donald Trump’s tariffs, calling them a “structural, permanent tax on the American consumer.” He also said Trump appears to be the “most high tax American President in generations.”

“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 things,” Kimbal Musk wrote on X, one of the companies in his brother’s extensive portfolio.

The younger Musk owns a restaurant chain called The Kitchen, is a board member at Tesla and a former director at SpaceX and Chipotle. He has also co-founded and invested in other food and tech startups, including Square Roots, an indoor farming company, and Nova Sky Stories, a creator of drone light shows that he bought from Intel.

Elon Musk is a top advisor to Trump, overseeing the so-called Department of Government Efficiency, or DOGE, an effort to drastically cut federal spending, largely through layoffs, and consolidate or eliminate agencies and regulations. However, his relationship with some key figures in the Trump administration has been showing signs of strain in recent days as the president’s sweeping tariffs have led to a dramatic selloff in stocks, including for Tesla, which is down 42% this year and just wrapped up its worst quarter since 2022.

Over the weekend, Elon Musk took aim at Trump trade advisor Peter Navarro, disparaging his qualifications in a post on X.

“A PhD in Econ from Harvard is a bad thing, not a good thing,” Musk wrote, after Navarro told CNN on Saturday that “The market will find a bottom” and that the Dow will “hit 50,000 during Trump’s term.” It’s currently at about 38,200.

Musk also said that Navarro hasn’t built “sh—.” Navarro told CNBC on Monday that Musk is “not a car manufacturer” but rather a “car assembler,” dependent on parts from Japan, China and Taiwan.

Tesla was seeking a more moderate approach to trade and tariffs in a recent letter to the U.S. Trade Representative.

According to Federal Election Commission filings, Kimbal Musk this year has contributed funds to the Libertarian National Committee and Libertarian Party of Connecticut. In 2024, while his brother became the biggest financial backer and promoter of Trump, Kimbal donated to Unite America PAC, a group that markets itself as a “philanthropic venture fund that invests in nonpartisan election reform to foster a more representative and functional government.”

A representative for Kimbal Musk didn’t immediately respond to a request for comment.

WATCH: Tesla Q1 deliveries worse than expected

Elon Musk brother Kimbal says Trump tariffs permanent tax on consumers

Credit: Source link

ShareTweetSendSharePin
Previous Post

Jaylen Brown’s explicit message to upset gamblers: ‘F–k you up’

Next Post

Apple’s 3-day loss in market cap swells to almost $640 billion

Related Posts

China supply chain diversification challenged by Trump’s tariffs
News

China supply chain diversification challenged by Trump’s tariffs

April 9, 2025
RBI delivers second straight rate cut as U.S. tariffs kick in
News

RBI delivers second straight rate cut as U.S. tariffs kick in

April 9, 2025
Tech analyst responds to Trump wanting Apple to make iPhones in U.S.
News

Tech analyst responds to Trump wanting Apple to make iPhones in U.S.

April 9, 2025
Cambodia factories ‘absolutely not’ coming back to US
News

Cambodia factories ‘absolutely not’ coming back to US

April 9, 2025
Apple falls 3% as tech struggles to bounce back from rout
News

Apple falls 3% as tech struggles to bounce back from rout

April 8, 2025
Emirates President Tim Clark warns of ‘uncharted territory’ as tariffs hit global aviation
News

Emirates President Tim Clark warns of ‘uncharted territory’ as tariffs hit global aviation

April 8, 2025
Next Post
Apple’s 3-day loss in market cap swells to almost 0 billion

Apple's 3-day loss in market cap swells to almost $640 billion

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

Pete Alonso makes Marlins pay for Juan Soto decision in Mets win

Pete Alonso makes Marlins pay for Juan Soto decision in Mets win

April 9, 2025
Trump ‘drill’ agenda could cut profits, test oil producers

Trump ‘drill’ agenda could cut profits, test oil producers

March 25, 2025
Beyond Concorde: One man’s quest to bring back supersonic travel becomes reality

Beyond Concorde: One man’s quest to bring back supersonic travel becomes reality

March 14, 2025
Europe telcos urge more mega-mergers to catch up to US, China on 5G

Europe telcos urge more mega-mergers to catch up to US, China on 5G

March 14, 2025
Referee Bill Kennedy pretends to forget Dillion Brooks’ name after ejection

Referee Bill Kennedy pretends to forget Dillion Brooks’ name after ejection

March 31, 2025
NYU women win second straight national title, NYU men fall in final

NYU women win second straight national title, NYU men fall in final

March 23, 2025
A vibe shift around layoffs is happening across the workforce

A vibe shift around layoffs is happening across the workforce

March 16, 2025

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • Trump began to overturn the global economic order at a moment when the U.S. was dominating it
  • China supply chain diversification challenged by Trump’s tariffs
  • Mets’ Jeff McNeil, Francisco Alvarez set to take next step in respective rehabs
  • ASML boss says young people are always asking him how to become a CEO. Here’s why he calls it an ‘absurd’ question

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In