Musk on Trump Advice: "It's Up to Him" Amid Stock Dive
26 April 2025 · Uncategorized ·
According to The Wall Street Journal, during Tesla’s April 22nd earnings call, Elon Musk visibly expressed his frustration regarding the trade war initiated by the Trump administration when speaking with Wall Street analysts, sighing deeply as he addressed the topic. He reiterated his long-held belief in lower tariffs, stating, “I just want to emphasize that tariff decisions are completely up to the US President,” and adding, “Whether or not he listens to my advice is entirely his decision.”
Musk emphasized that he has repeatedly and publicly advocated for tariff reductions, believing they would benefit economic prosperity. He affirmed his continued stance, saying, "I will continue advocating for lower tariffs instead of raising them; this is all I can do.”
Recently, Musk’s involvement as an advisor to Trump has drawn considerable criticism, coinciding with Tesla’s disappointing first-quarter performance. Investors have reacted with increasing pessimism.
CNN reported that following the announcement of lackluster first-quarter financial results on April 22nd, Musk stated his intention to significantly reduce his involvement with the Trump administration, beginning in May. He stated, "Starting next month (May), I will drastically cut down my time spent on DOGE [Department of Government Efficiency].”
Musk clarified that he would continue to dedicate approximately one or two days a week to matters in Washington until the end of Trump's presidential term.
Following this announcement, Tesla’s stock price rose by more than 4% in after-hours trading.
The company’s first-quarter earnings revealed a net income of $409 million, a 71% decrease year-over-year. Both revenue and profit fell short of expectations; overall revenue declined by 9% compared to the same period last year, with automotive sales dropping by 20%.
CNN noted that for a company previously reporting quarterly sales growth between 20% and 100%, such a decline is substantial. Tesla’s first-quarter delivery figures marked the largest decrease ever recorded, with a reduction of approximately 50,000 units compared to the previous year. This significant downturn reflects Tesla's lowest sales in nearly three years.
This article was originally published exclusively by The Observer and may not be reproduced without permission.
Musk emphasized that he has repeatedly and publicly advocated for tariff reductions, believing they would benefit economic prosperity. He affirmed his continued stance, saying, "I will continue advocating for lower tariffs instead of raising them; this is all I can do.”
Recently, Musk’s involvement as an advisor to Trump has drawn considerable criticism, coinciding with Tesla’s disappointing first-quarter performance. Investors have reacted with increasing pessimism.
CNN reported that following the announcement of lackluster first-quarter financial results on April 22nd, Musk stated his intention to significantly reduce his involvement with the Trump administration, beginning in May. He stated, "Starting next month (May), I will drastically cut down my time spent on DOGE [Department of Government Efficiency].”
Musk clarified that he would continue to dedicate approximately one or two days a week to matters in Washington until the end of Trump's presidential term.
Following this announcement, Tesla’s stock price rose by more than 4% in after-hours trading.
The company’s first-quarter earnings revealed a net income of $409 million, a 71% decrease year-over-year. Both revenue and profit fell short of expectations; overall revenue declined by 9% compared to the same period last year, with automotive sales dropping by 20%.
CNN noted that for a company previously reporting quarterly sales growth between 20% and 100%, such a decline is substantial. Tesla’s first-quarter delivery figures marked the largest decrease ever recorded, with a reduction of approximately 50,000 units compared to the previous year. This significant downturn reflects Tesla's lowest sales in nearly three years.
This article was originally published exclusively by The Observer and may not be reproduced without permission.