Sci-tech

Tesla CEO Elon Musk weighs in on Trump trade battle with China

Tesla CEO Elon Musk weighs in on Trump trade battle with China

President Trump cites Tesla CEO Elon Musk's tweet to the president over having unfair trade policies with China.

Hours after Elon Musk posted a series of tweets about global trade and President Trump's tariff plan, Mr. Trump specifically called out Musk's support at the tariff signing at the White House Thursday.

Musk lamented that an American vehicle sold in China pays a 25% import duty compared to just 2.5% for Chinese cars entering the U.S. (both of these figures were reported by the New York Times).

Musk pointed out that American companies that ship their cars to China pay a significantly larger import duty than Chinese cars that come to the US.

Musk continued the thread by stating that the current discrepancy between the USA and China's tariffs on cars makes things "very difficult" and is like "competing in an Olympic race wearing lead shoes". It´s like competing in an Olympic race wearing lead shoes, ' Musk complained on Twitter.

Trump is apparently a big fan of Musk's private space exploration company, SpaceX. For me, that's more fantastic than watching the rocket go up, 'cause I've never seen that before.

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Tesla sure knows where it's going, as its "light years ahead" navigation system and map engine are nearly done according to founder and CEO Elon Musk.

The company had raised the issue with the prior United States administration, Musk added, but nothing had happened. They're saving the boosters.

Frustrated by this imbalance, Musk asked Trump for "equal & fair rules for cars". Just want a fair outcome, ideally where tariffs/rules are equally moderate. "They landed so beautifully", Trump added. "Nothing more. Hope this does not seem unreasonable", Musk tweeted. One year later, that figure doubled to over £2 billion.

"We think what Tesla has achieved so far is pretty remarkable, but there's more they can do in not just automotive, but the energy markets", Tom Slater, a Baillie Gifford partner and fund manager told Bloomberg in an interview.

Tesla has been working to establish local production in order to avoid import duties for years now.


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