ISTANBUL

US billionaire Elon Musk on Saturday expressed hope for a “zero-tariff” system between the United States and Europe that would "effectively create a free trade zone."

Joining Italy's right-wing populist League party event via video link, Musk told Italian Deputy Prime Minister Matteo Salvini, "At the end of the day, I hope it's agreed that both Europe and the US should move ideally, in my view, to a zero-tariff situation, effectively creating a free trade zone between Europe and North America."

His remarks followed US President Donald Trump’s signing of an executive order on Wednesday to impose reciprocal tariffs on countries worldwide — a move that has contributed to months of market volatility.

The head of the European Parliament’s International Trade Committee sharply criticized Trump's announcement of a new 20% tariff on goods from the EU.

He said the bloc would respond with "legal, legitimate, proportionate, and decisive measures," vowing to protect the EU's democratic decision-making and economic sovereignty.