Elon Musk issues urgent plea as he hits back over Trump's 'Liberation Day' tariffs

Elon Musk has revealed his 'hopes' for the US and Europe after Donald Trump's tariffs saw Tesla's share price fall.

The tech billionaire has been at the forefront of Trump's administration, but after the president's recent tariffs saw one of his own company's take a huge hit, the CEO has made a statement about his hopes for the future.

The share price of Musk's electric vehicle company suffered a 10 percent fall in just one day earlier this week, which has clearly raised alarm bells.

According to reports, Tesla stocks have been steadily falling since the beginning of 2025, while Musk has been busy slashing hundreds of thousands of jobs within the US government.

Former Vice-Presidential candidate Tim Walz previously joked that he looks at the share price of Tesla 'to it to give me a little boost during the day'.

Shares in Tesla fell by 10 percent in just one day (Justin Sullivan/Getty Images)

But it seems as though Musk is leaning more into his role of CEO as of late, as he shared his views on the harsh tariffs and what he has 'advised' the president to do next.

Speaking via a video link at the League Congress on Saturday (5 April), Musk said: "I hope that the US and Europe can establish a very close relationship, and I'm hopeful for example with the tariffs, that it's agreed that both Europe and the US should move ideally to, in my view, a zero tariff situation.

"Effectively creating a free trade zone between Europe and North America. That's what I hope occurs."

But the tech mogul didn't stop there with his plea to the president.

He also shared that he would like to see more freedom of movement between the continents.

Musk added: "And also more freedom of people to move between Europe and North America if they wish.

Elon Musk has advised the president to encourage 'free trade' between the US and Europe (ROBIN LEGRAND/AFP via Getty Images)

"So that has certainly been my advice to the president."

In his 'Liberation Day' speech, Trump imposed tariffs on every country in the world - including islands that are only inhabited by penguins.

The 78-year-old said: "This is Liberation Day. We've been waiting for a long time, April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to 'Make America Wealthy Again'."

He then presented the audience with a chart of 'Reciprocal Tariffs'.

The United Kingdom will face tariffs of 10 percent as he said levies will not be fully reciprocal rate, but will instead be half the tariff rate.

The EU faces also faces 20 percent tariffs, while Brazil and Singapore were hit with 10 percent tariffs - the same level as Britain while rates ranged from 10 percent to 49 percent on the chart he held up.