Elon Musk’s brother, Kimbal, has faulted the United States' trade tariffs imposed by President Donald Trump, saying Americans would bear the brunt of the effects.
Kimba, co-owner of The Kitchen Restaurant Group, predicted that the policy would trigger reduction in spending and limit opportunities in the country's labour force.
In a post on social network X on Monday, the 52-year-old businessman described Trump as the “most high tax American President in generations.
“Through his tariff strategy, Trump has implemented a structural, permanent tax on the American consumer,” Kimbal declared.
He said even if the president creates jobs through the tariff tax, prices will remain high, in addition to high consumption tax “because we are simply not as good at making all things.”
“A tax on consumption also means less consumption. Which means less jobs. Which in turn leads to less consumption. And then even less jobs,” Kimbal added.
The restaurateur noted that with its incredible powers, America should play to those strengths, and not be forced to play to weaknesses.
Kimbal's reaction came on the same day JPMorgan CEO Jamie Dimon and increase the risk of a recession.
His older brother, Elon, is a senior advisor to President Trump and heads the Department of Government Efficiency, tasked with cutting federal spending.
