A once-curious friendship between tech titan Elon Musk and President Donald Trump appears to be unraveling in public, following a weekend filled with behind-the-scenes pleading, televised sniping, and policy fallout. According to The Washington Post, Musk attempted — and failed — to convince Trump to reconsider his sweeping new tariff regime, a move that has already rattled markets and wiped more than $100 billion from Tesla’s market capitalization.

In what is now being seen as the most visible break between Musk and the Trump administration since the latter took office for a second term, tensions spilled over as both Musk and Trump’s top trade adviser, Peter Navarro, took to airwaves and social media to snipe at each other. Behind the scenes, sources say Musk privately urged Trump to abandon the aggressive tariff expansion.

But Trump held firm.

“No more friends,” said a senior administration official familiar with the exchange. “Elon made his pitch, and the President said no.”

The moment marks a political and financial inflection point for both Trump and Musk. For Trump, it underscores his growing confidence in trade hawks like Navarro as he reshapes the U.S. economy in his nationalist vision. For Musk, it signals the waning of his once-outsized influence inside the administration — and possibly his departure from Trumpworld altogether.

Tesla’s stock has taken a beating over the past several days, shedding over $100 billion in market value amid fears that Trump’s tariffs will spike input costs, disrupt global supply chains, and make American-made electric vehicles less competitive on the global stage. For a company like Tesla — heavily reliant on imported raw materials and global manufacturing — the economic damage is immediate.

Musk made his opposition known in characteristically blunt fashion, sharing a viral clip of free-market economist Milton Friedman warning against tariffs and economic nationalism. He added no caption, letting the message speak for itself. But he didn’t stop there.

Musk engaged directly with media clips of Peter Navarro — Trump’s long-time trade adviser and Harvard-trained economist — calling him out for pushing what Musk sees as destructive, self-serving policy. The feud escalated when Navarro appeared on Fox News, brushing off Musk’s criticism.

“Elon, when he’s in his DOGE lane, is great,” Navarro said, referring to Musk’s involvement with Dogecoin. “But we understand what’s going on here. Elon sells cars. He’s simply protecting his own interests.”

Navarro repeated the sentiment the next day on CNBC, stating that “everything’s good with Elon, I promise,” though few in Washington believed the calm rhetoric matched the behind-the-scenes reality.

According to The Washington Post, Musk spent the weekend trying to directly appeal to President Trump, urging him to reconsider the scope and structure of the tariffs. Sources say Musk pointed to the potential long-term economic damage, the market chaos already unfolding, and the negative impact on innovation and American competitiveness.

Trump, however, was unmoved.

“He listened,” said one source close to the talks, “but he didn’t waver. Navarro has his ear on this one.”

The rejection stings not only because of the economic impact but also due to the personal relationship Musk and Trump once shared. Musk was a fixture in Trump’s first-term business councils and even helped shape certain aspects of the administration’s early economic messaging. But as Trump’s policies veered deeper into populist nationalism, the distance between the two grew — culminating in this weekend’s impasse.

“This is the clearest signal yet that Musk is on the way out,” said Grant Holbrook, a political strategist with ties to several Fortune 500 CEOs. “He no longer has the President’s ear.”

Adding another layer to the fallout, Musk’s younger brother, Kimbal Musk, weighed in on X, attacking Trump’s tariff strategy from a macroeconomic standpoint. “Who would have thought that Trump was actually the most high-tax American President in generations,” he wrote.

He went on to call the tariffs a “structural, permanent tax on the American consumer,” warning that even if the policy successfully encourages domestic job creation, Americans would continue to face high prices.

“We are simply not as good at making all things,” Kimbal added, pointing to comparative disadvantages in manufacturing that tariffs alone cannot fix.

The comments struck a chord among economists who argue that tariffs function as consumption taxes, disproportionately hurting low- and middle-income Americans.

Despite the swirling controversy, the Trump administration appears unbothered — at least publicly.

When The Washington Post reached out for comment, the administration responded by doubling down on its confidence in the team, including Navarro. “The President has put together a remarkable team of highly talented and experienced individuals who bring different ideas to the table, knowing that President Trump is the ultimate decision maker,” a spokesperson said.

White House Press Secretary Karoline Leavitt also sought to downplay any perception of internal rifts: “When he makes a decision, everyone rows in the same direction to execute,” she said. “That’s why this Administration has done more in two months than the previous Admin did in four years.”

The implication was clear: Musk is no longer part of the inner circle.

While Elon Musk’s star within the administration dims, Peter Navarro’s influence is clearly on the rise. The architect of Trump’s trade agenda appears to have weathered the billionaire backlash with little consequence — and perhaps even more support than before.

“Navarro has something Musk doesn’t: ideological loyalty,” says Dr. Helen Redding, a political economist at Georgetown University. “Trump admires results, but he values loyalty more. Navarro has stuck with the President’s worldview on trade and global power. That’s not something Musk can offer.”

And while Navarro declined to respond to further media inquiries this week, his TV appearances and continued internal backing suggest he’s not going anywhere.

Trump himself hinted that Musk may step away from his informal advisory role in the coming months, citing Musk’s business obligations. “He’s got a lot going on,” Trump said at a recent press briefing. “SpaceX, Tesla — all big stuff. We’ll see what happens.”

Musk’s silence in recent days has been noticeable. After his social media volley with Navarro, and his brother’s high-profile post, Elon has refrained from further public escalation — a rare pause from someone known for his public confrontations.

Analysts say the next few weeks will be telling. “If Musk stays quiet, he’s strategizing,” said Reagan Henson, an analyst at Capital Group. “If he speaks out again — especially against Trump — we’ll know the break is permanent.”

For now, one thing is certain: the price of this policy dispute is steep. Between Tesla’s losses, investor jitters, and growing uncertainty about U.S. trade policy, the Musk–Trump relationship is unraveling at high cost — both financially and politically.

What began as a mutually beneficial alignment between a business icon and a populist president has ended, not with a bang, but with a tweet and a cold “no.”

Elon Musk tried to hold onto influence. Donald Trump chose tariffs — and Peter Navarro — instead.