Kimbal Musk Criticizes Trump Tariffs as 'Permanent Tax on Consumers'

The entrepreneur warns that tariffs create a cycle of reduced consumption and job losses, arguing domestic production inefficiencies keep prices high.

Kimbal Musk, entrepreneur and Tesla board member, described Trump's tariffs as a 'structural, permanent tax on the American consumer' in a post on X.
He argued that even if tariffs succeed in reshoring jobs, domestic production inefficiencies will prevent consumer prices from decreasing.
Musk warned that tariffs act as a tax on consumption, potentially triggering a cycle of reduced spending and job losses that could harm economic growth.
He labeled Trump as 'the most high-tax American President in generations,' criticizing the broader fiscal impact of his policies.
Kimbal Musk, leveraging his public platform, has reignited debates on the economic consequences of tariffs and reshoring strategies.

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