Gabe Whisnant
Kimbal Musk, the younger brother of Elon Musk, criticized President Donald Trump's tariffs in a post on X, formerly Twitter Monday, describing them as a "structural, permanent tax on the American consumer."
He also said that Trump is shaping up to be "the most high-tax American President in generations."
Kimbal Musk posted, "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 all things. A tax on consumption also means less consumption. Which means less jobs. Which in turn leads to less consumption. And then even less jobs."
His post continued, "America has incredible strengths. We should play to those strengths, and not be forced to play to our weaknesses. Same with the rest of the world."
Trump signaled Monday that he has no intention of backing down from his sweeping tariff plans, despite speculation that rising market volatility might prompt a pause. Speaking from the Oval Office, Trump dismissed the idea outright, even as he claimed multiple countries were eager to negotiate new trade agreements with the U.S.
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