Tesla and SpaceX CEO Elon Musk speaks at a rally for former US President and Republican presidential candidate Donald Trump at Madison Square Garden in New York, October 27, 2024.
Former President Donald Trump's top allies and surrogates, like Tesla CEO Elon Musk appear to accept that the Republican presidential nominee's policy plans could trigger a short-term economic thunderstorm.
But they contend it will be worth the sunnier long-term outlook.
"Correct: If I raise the tariff on just this particular idiosyncratic product, yes, right, it will be more expensive," Lutnick said in a Thursday interview on CNBC's "Squawk Box," responding to a question about whether universal tariffs would effectively become a short-term sales tax.
Trump's running mate, Ohio Sen. JD Vance, has also nodded to the potential consumer pain of Trump's vision for across-the-board tariffs, though he hedged that it would be worth the possible benefits.
Persons:
Tesla, Elon Musk, Donald Trump, Donald Trump's, Musk, Trump, Cantor Fitzgerald, Howard Lutnick, Vance, Lutnick, Trump's, Ohio Sen, JD Vance
Organizations:
SpaceX, Republican, Madison, Tesla, Trump, Press
Locations:
New York, U.S