Trump Tariffs Spark Global Talks

FINANCE
Trump Tariffs Spark Global Talks

Stocks bounced back on news of potential trade talks, but actual negotiations may be more complex and time-consuming than markets expect. Since President Trump announced sweeping new tariffs on April 2—dubbed “Liberation Day”—around 70 countries have contacted the White House to discuss trade, according to Treasury Secretary Scott Bessent. He emphasized these calls were driven by interest in negotiation, not market pressure.

Bessent dismissed reports claiming he flew to Mar-a-Lago to advise Trump to ease tariffs due to market turmoil. “It’s all President Trump’s decision,” he said, confirming the president will be directly involved in negotiations. Bessent noted that while progress is expected, dealing with so many nations will take time.

Jai Kedia from the Cato Institute warned that negotiating with over 70 countries is a massive challenge, especially given the administration’s flawed tariff calculations. He criticized the rollout as chaotic and economically damaging. Harvard economist Jason Furman echoed doubts about the practicality of handling so many simultaneous negotiations.

Despite these concerns, optimism around talks lifted stocks. Trump cited positive calls with leaders from South Korea and Japan, and officials say the White House is fielding a surge in requests for trade discussions, signaling a turbulent but active road ahead.

FINANCE
Musk Slams Navarro Over Tariffs

As Tesla shares fell for a fourth straight day, CEO Elon Musk escalated his attacks on Trump’s top trade advisor, Peter Navarro, blaming him for policy decisions hurting Tesla. Musk mocked Navarro’s Harvard economics PhD on X over the weekend and, by Tuesday, openly called him “a moron,” “dangerously dumb,” and “dumber than a sack of bricks.” The feud stems from Navarro’s claim that Tesla is merely a car assembler, not a true manufacturer—something Musk called “demonstrably false.”

This clash highlights growing division within Trump’s circle over the president’s sweeping tariffs on over 180 countries. White House Press Secretary Karoline Leavitt downplayed the feud, saying, “Boys will be boys.” Musk’s brother, Kimbal, also joined the criticism, calling the tariffs a “permanent tax on the American consumer.”

Tesla’s stock has plunged 22% in four days and 45% this year, shedding over $585 billion in market value. Though Tesla assembles vehicles in the U.S., tariffs on imported materials are expected to raise production costs. Musk advocates for a zero-tariff trade zone between the U.S. and Europe, where Tesla operates a major factory in Germany. Despite Musk’s political support for Trump, the growing trade war is hitting Tesla hard—and Musk is making his frustrations clear.

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