News Summary

Author: Al Jazeera Staff
Published on: 07/04/2025 | 00:00:00

AI Summary:
Donald Trump has doubled down on his tariffs plan, even as markets crash around the world. However, signs of divisions among Trump’s aides are emerging with key ally Elon Musk publicly clashing with trade adviser Peter Navarro on Saturday. In the aftermath, the three major stock indices in the US dropped by more than 5 percent over the past week. As of Monday, the Dow Jones stood at 38,314 before the start of trading. "A PhD in Econ from Harvard is a bad thing, not a good thing," Musk posted. Higher levies that Trump calls reciprocal tariffs are scheduled to come into effect on Wednesday. In a Fox News interview on Sunday, Navarro responded to Musk’s comments about tariffs in Europe. “It was interesting to hear Elon Musk talk about a zero-tariff zone with Europe. He doesn’t understand that,” Musk said. Tesla warned the US government that tariffs could harm electric vehicles companies when Trump’s tariff targets impose own levies on American products. Agriculture Secretary Brooke Rollins asked if tariffs are here to stay like Trump and Lutnick have said. Agriculture Secretary didn't directly answer this question.

Original: 833 words
Summary: 187 words
Percent reduction: 77.55%

I'm a bot and I'm open source