Elon Musk advocates for a complete elimination of tariffs between the United States and the European Union, proposing a free trade zone between the two regions. During an event hosted on Saturday by Italy’s Deputy Prime Minister Matteo Salvini, Musk expressed his vision for zero-tariff trade relations as ideal. He also emphasized the importance of freedom of movement between Europe and North America. This stance contrasts sharply with US President Donald Trump’s recent implementation of tariffs across a wide range of imports from various countries, including a 20% tariff on goods originating from the European Union. Notably, Musk criticized Peter Navarro, a White House advisor known for supporting Trump’s economic policies, stating that a Harvard-educated economist is not inherently beneficial. Navarro, in response to Musk’s remarks, suggested he is motivated solely by personal interests. Meanwhile, the EU is preparing to counter these tariffs with targeted measures, potentially impacting around $28 billion worth of imports from the United States. This tension has impacted international stock markets, causing significant losses on indices such as the S&P 500, NASDAQ 100, and DJIA. Bitcoin’s price experienced a sharp decline in the past 24 hours, trading at $78,000 with a drop of 6.4%. These falls have resulted in significant liquidations across the derivatives market, totaling over $900 million.