Elon Musk’s younger brother Kimbal Musk has criticised US President Donald Trump’s tariff policies, labeling them a “structural, permanent tax on the American consumer”. In a post on X (formerly Twitter), Kimbal Musk also cast doubt on consumption and employment generation due to higher taxes.
“Who would have thought that Trump was actually the most high tax American President in generations. Through his tariff strategy, Trump has implemented a structural, permanent tax on the American consumer,” Kimbal Musk wrote, expressing concern over the long-term economic impact of the tariffs.
Kimbal Musk says tariffs mean less consumption, less jobs
Kimbal Musk says higher prices due to tariffs reduce consumers' purchasing power. They will likely buy less of certain goods and services because they are more expensive. When consumers buy less, businesses may see a decrease in demand for their products, leading to reduced production and potentially job losses in various sectors.
“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,” he said.
“A tax on consumption also means less consumption. Which means less jobs. Which in turn leads to less consumption. And then even less jobs,” Musk added.
“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,” he noted.
Kimbal Musk, a restaurateur and Tesla board member, has also invested in various food and tech startups. The criticism coincides with a dramatic selloff in the stock market, including a 42% year-to-date drop for Tesla, a company heavily reliant on global supply chains.
In a separate post, he crticised Trump's claims that the tariffs have hit China hard.
"Mmm.. Celebrating causing China's stock market to go down, by causing our own stock market to go down? Maybe this is why Trump brought back the R word," he said.
“Who would have thought that Trump was actually the most high tax American President in generations. Through his tariff strategy, Trump has implemented a structural, permanent tax on the American consumer,” Kimbal Musk wrote, expressing concern over the long-term economic impact of the tariffs.
Who would have thought that Trump was actually the most high tax American President in generations.
— 𝙺𝚒𝚖𝚋𝚊𝚕 𝙼𝚞𝚜𝚔 🤠 (@kimbal) April 7, 2025
Through his tariff strategy, Trump has implemented a structural, permanent tax on the American consumer.
Even if he is successful in bringing jobs on shore through the tariff…
Kimbal Musk says tariffs mean less consumption, less jobs
Kimbal Musk says higher prices due to tariffs reduce consumers' purchasing power. They will likely buy less of certain goods and services because they are more expensive. When consumers buy less, businesses may see a decrease in demand for their products, leading to reduced production and potentially job losses in various sectors.
“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,” he said.
“A tax on consumption also means less consumption. Which means less jobs. Which in turn leads to less consumption. And then even less jobs,” Musk added.
“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,” he noted.
Other countries care because a tax reduces consumption of their goods. Reduced consumption does not create more jobs in America. The net outcome is less jobs on both sides of the borders, and higher prices in America.
— 𝙺𝚒𝚖𝚋𝚊𝚕 𝙼𝚞𝚜𝚔 🤠 (@kimbal) April 7, 2025
Kimbal Musk, a restaurateur and Tesla board member, has also invested in various food and tech startups. The criticism coincides with a dramatic selloff in the stock market, including a 42% year-to-date drop for Tesla, a company heavily reliant on global supply chains.
In a separate post, he crticised Trump's claims that the tariffs have hit China hard.
"Mmm.. Celebrating causing China's stock market to go down, by causing our own stock market to go down? Maybe this is why Trump brought back the R word," he said.
Mmm.. Celebrating causing China's stock market to go down, by causing our own stock market to go down?
— 𝙺𝚒𝚖𝚋𝚊𝚕 𝙼𝚞𝚜𝚔 🤠 (@kimbal) April 7, 2025
Maybe this is why Trump brought back the R word. https://t.co/uTBXwDry74
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