Sunday, June 16, 2024

Elon Musk voices his opposition to US tariffs on Chinese electric vehicles

Elon Musk Opposes US Tariffs on Chinese Electric Vehicles: Business Reporter Peter Hoskins Reports on the Latest Developments in Trade Disputes

Tesla boss Elon Musk has made headlines once again, this time for his vocal opposition to US tariffs on Chinese electric vehicles (EVs). Just days after President Joe Biden imposed quadrupled levies on EVs imported from China, Musk spoke out against the tariffs, stating “Neither Tesla nor I asked for these tariffs.”

In a virtual appearance at a technology conference in Paris, Musk expressed his surprise at the new tariffs, contradicting his previous warning from January that Chinese car makers would “demolish” competitors if trade barriers were removed. The White House defended the new measures as a response to unfair policies and a way to protect US jobs, including a 100% tariff on EVs from China.

Musk highlighted Tesla’s success in the Chinese market without tariffs or differential support, arguing in favor of free trade. He emphasized, “Tesla competes quite well in the market in China with no tariffs and no deferential support. I’m in favor of no tariffs.”

President Biden has maintained tariffs on China introduced by his predecessor, Donald Trump, while increasing trade pressure on Beijing. He has vowed to prevent China from unfairly controlling the market for electric vehicles, batteries, computer chips, and basic medical supplies.

In response to the US tariffs, China has indicated retaliatory measures, investigating imports of polyoxymethylene copolymer used in electronics and cars. Additionally, China may impose tariffs of up to 25% on cars with large engines imported from the EU and US.

The European Commission has set a deadline of July 4th to decide whether to impose measures against Chinese-made EV imports. The ongoing trade disputes between the US, China, and Europe reflect the complexities of global trade dynamics, with automakers like Tesla caught in the middle of the escalating tensions.

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