MeidasTouch host Ben Meiselas reports on Trump’s tarrifs and policies screwing over Elon Musk as Trump’s cabinet start to turn against Musk as well. Thanks to Udacity: For 40% OFF your order, head to Udacity.com/meidas and use promo code: MEIDAS Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: What is the impact of Trump's tariffs on Elon Musk and Tesla?
Elon Musk, meet karma. Karma, meet Elon Musk. Elon Musk is now getting the karma he deserves. It always comes for you when after destroying our federal government in a hostile takeover he did with Donald Trump. Gleefully, as Rolling Stones aptly put it in a recent headline, laughing as he calls Social Security a Ponzi scheme.
Now, Elon Musk's biggest foreign market, China, is saying bye bye, Elon. China has placed 125 percent retaliatory tariffs against the United States. in response to Trump placing 145% tariffs on China. China called Trump's levies against China laughable. China continues to mock the United States for Trump's reckless tariff regime.
And now Elon Musk finds himself unable to sell Teslas to essentially his biggest market outside of the U.S., also Europe. boycotting Tesla's, the amount of Tesla's being sold in Europe, fractions of what it once was. Similarly, here in the United States, we're seeing a massive drop in Tesla sales. And of course, you all know about the Tesla protests, which seem to get bigger every single weekend.
Chapter 2: How are China and Europe responding to US tariffs on electric vehicles?
Let's take a look at what's going on over here. As Fortune puts it, Trump tariffs backfire on Elon Musk as Tesla pulls U.S.-built models from China. Tesla has stopped taking orders for the Model S and Model X in China, which now face retaliatory tariffs in the amount of 125% on import duties levied by Beijing. So the local customers are only able to choose from new cars still in inventory.
know which company is doing really good right now the chinese electric vehicle company byd byd shares are soaring and roaring right now and also china and europe are making deals together to bring chinese electric vehicles into the european market so as Elon Musk's Tesla share decreases.
We're now going to see BYD and China's electric vehicles as China's actually investing in clean energy, green energy, which the MAGA Republicans here in the United States call the green new scam. And Donald Trump mocked during his campaign.
now the chickens have come home to roost donald and elon musk with what's going on here now elon musk apparently was begging begging the trump regime not to do these tariffs on china and elsewhere which the trump regime did not listen to also we're seeing other members of the trump cabinet seem to turn against Elon Musk.
They're also leaking out how annoying they think Elon is, how they despise him and how they just want him out and that he's just a very annoying person. Let me share this clip with you where Elon Musk says that he hopes the US and Europe move to a zero tariff situation. Really, Elon? You've enabled this and now you're getting your karma. You're just desserts. Here, play this clip.
And I'm hopeful, for example, with the tariffs that at the end of the day, I hope it is agreed that both Europe and the United States should move ideally, in my view, to a zero tariff situation, effectively creating a free trade zone between Europe and North America. And that would be my, that's what I hope occurs.
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Chapter 3: What is Elon Musk's position on tariffs between the US and Europe?
And also more freedom of people to move between Europe and North America, if they wish. If they wish to work in Europe or wish to work in America, they should be allowed to do so, in my view. So that has certainly been my advice to the president.
Now, there's a feud that has been brewing between Elon Musk and Peter Navarro. Peter Navarro is one of Donald Trump's top economic advisors, and Navarro's been going on Fox and making his rounds on other right-wing propaganda media, saying that Elon Musk really isn't a car manufacturer. He's just a salesman, Navarro says. He's just someone who sells cars.
Play this clip. It was interesting to hear Elon Musk at the beginning talk about a zero tariff zone with Europe. He doesn't understand that. And the thing that's, I think, important about Elon to understand, he sells cars. That's what he does.
Chapter 4: What is the feud between Elon Musk and Peter Navarro about?
And if you look, for example, at the Tesla factories in Texas, they're assembly plants and they get a lot of their content from China, Mexico, Japan and Taiwan and elsewhere.
So then Elon Musk responded by calling Navarro a moron. Navarro is truly a moron. What he says here is demonstrably false. Tesla has the most American-made cars. Navarro is dumber than a sack of bricks by any definition whatsoever.
tesla is the most vertically integrated auto manufacturer in america with the highest percentage of us content navarro should ask the fake expert he invented ron vera and then elon musk started calling peter navarro peter our word repeatedly over and over again.
This is from that Rolling Stones article that I referenced before, which was basically titled Inside Elon Musk's Gleeful Destruction of the Government. Here's what it says. It says the following, quote, I have been in the same room with Elon and he always tries to be funny and he's not funny like at all, says a senior Trump administration official, quote.
He makes these jokes and a little asides and smiles and then looks almost hurt if you don't lap up his humor. I keep using the word annoying a lot of people who have to deal with him do, but the word doesn't do the situation justice. Elon just thinks he's smarter than everyone else in the room and acts like it, even when it's clear he doesn't know what he's talking about.
Musk has gnawed at the patience of an array of high-ranking administration officials. to the point that, according to this official and two others, Trump lieutenants have walked out of meetings and earnestly asked one another if they thought Musk was high.
Administration officials joked to one another about subjecting Musk to mandatory drug testing, which Musk himself said would be a great idea for federal employees. A lawyer for Musk has said that he's regularly and randomly drug tested at SpaceX and has never failed the test. Quote,
Talking to the guy is sometimes like listening to a really rusty nail on a chalkboard, says the senior Trump administration official, who adds that Musk is not much of a team player either. He's just the most irritating person I've ever had to deal with. And that is saying something, especially someone who works for Donald Trump. That is saying something. I want to show this as well.
Here's the audio of Elon Musk saying during his telephone town hall a while back that electing Trump would bring temporary hardship and pain, although I'm not sure Elon Musk expected to bring himself pain. But as I said at the beginning, karma comes for everyone, and Elon Musk played this clip.
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Chapter 5: How is the Trump administration reacting to Elon Musk personally?
We have to reduce spending to live within our means. And that necessarily involves some temporary hardship, but it will ensure long-term prosperity.
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Should also be noted that Tesla, not only are Tesla sales plunging, but we're seeing gains in GM and other automakers. Overall sales of electric vehicles are actually rising about 11% in the first three months of the year as traditional car makers offer new models. And that's the leakage of people who had Teslas before saying, I can't be caught driving one of these things.
You know, at this point, it is a sign of shame based on what Elon Musk has done to the brand. Car buyers are moving away from Teslas and towards models like General Motors, Chevrolet Equinox electric vehicle, which started at around $35,000. and other automobiles like that. Tesla sales plunged 76% in Germany last month.
China, Europe, as I mentioned before, working together, which looks like it's going to help BYD. The BYD stock is soaring. And let me show you this. This is Trump's transportation secretary, Sean Duffy, who got famous on the Real World Road Rules Challenge. And here he seems to be almost blaming Elon Musk and Doge for cuts. No, he doesn't seem he is. After multiple fatal aircraft crashes.
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