Trump's Trade Policies and Tesla Ties Shake Markets and Allies
The U.S. president faces backlash over tariffs, economic uncertainty, and his public alignment with Elon Musk as Tesla's fortunes decline.
- Donald Trump has imposed 25% tariffs on imported steel and aluminum, leading to retaliatory measures from the EU and escalating tensions with Canada over trade policies.
- The EU announced proportional tariffs on U.S. goods starting April 1, targeting items like motorcycles and bourbon in response to U.S. tariffs on metals.
- Tesla's stock has plummeted by over 50% since December, with sales declining globally and calls for boycotts growing due to Musk's alignment with Trump.
- Wall Street has seen significant losses, with the Nasdaq losing over $1 trillion in value this week, as fears of a U.S. recession and erratic trade policies unsettle investors.
- Trump's public support for Elon Musk, including a pledge to buy a Tesla, highlights their close political and economic ties, further polarizing public opinion.
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