Elon Musk, President-elect Donald Trump’s pick to lead the proposed Department of Government Efficiency could be a rare source of pushback on economic policy in his second administration.
Trump’s self-anointed “first buddy” is already making his opinions known on what he thinks is best for the economy, even if they diverge from the president-elect’s. The tech billionaire has often been by Trump’s side since his victory over Vice President Kamala Harris.
They appeared to become fast friends after the SpaceX and Tesla CEO endorsed Trump. Musk used his influence, fortune, and network to fundraise for the former president’s reelection campaign. Then, when Trump won, he said he planned to make Musk the head of a government efficiency department with an acronym beneficial to Musk’s crypto holdings.
Musk’s companies have soared in value with the market predicting he will wield significant influence in Washington after Trump’s January inauguration. Here is how both billionaires’ economic views compare:
Raise or slash tariffs?
High costs were likely a major reason Trump won reelection after voters looked into their wallets and reported inflation was one of their top concerns in poll after poll.
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On the campaign trail, he promised to enforce a new trade agenda and high tariffs on imported goods to bring manufacturing jobs back to the U.S. despite some economists warning his policies would actually raise prices for American…
