Controversial billionaire Elon Musk was the victim of Donald Trump’s latest speaking stumble. The former president and current GOP nominee accidentally referred to the Twitter-turned-X CEO — who only last week Trump said he’d invite to be a part of his second administration if he wins the 2024 election — as “Leon” during a campaign speech in Wisconsin this weekend.

Their fast-evolving political friendship has become a potential minefield, as Mr. Musk’s sprawling businesses may present conflicts of interest if Mr. Trump is elected in November.

No one can predict the ultimate outcome of higher U.S. tariffs, a messy endeavor that can hurt as well as help the nation’s tech firms.