Musk advocates a free trade zone between US and Europe, with zero tariffs.
Elon Musk addressed a congress of Italy's right-wing Lega party in Florence on Saturday, appearing by video link as the star guest of the party's leader and deputy Italian premier Matteo Salvini.
The tech billionaire and senior advisor to US president Donald Trump replied to questions put to him by Salvini who is the seeking re-election as party leader, in a one-horse race, during the two-day congress which ends on Sunday.
Musk said that he hoped that Europe and the US move to a "zero tariff situation", opening up "a free trade zone between Europe and North America".
The Tesla and SpaceX CEO - who has regularly voiced his support for right-wing parties in Europe including Italian prime minister Giorgia Meloni’s Fratelli d'Italia and Germany's Alternative für Deutschland (AfD) - was speaking days after Trump announced a 20 per cent tariff on EU imports.
Asked by Salvini to send a message to Italians "at a time when anti-American sentiment is being fuelled", Musk replied: "I hope that the United States and Europe can create and build a very close partnership. There is already an alliance, but I hope it can be closer, stronger."
Musk also expressed his hope for greater freedom of movement for work reasons between the two continents, adding that this is the advice he has given to Trump.
Meloni is set to hold a government summit to address the tariff situation on Monday, along with the deputy prime ministers, the ministers for the economy, industry, agriculture and European policies.
Last week Meloni said she considered Trump's introduction of tariffs on the EU as "wrong" and a move that "does not benefit either side".
However she cautioned against "alarmism" and said it was "not the catastrophe that some are talking about".