Tags: Donald Trump | Trump Administration | elon musk | donald trump | china | auto trade | tariffs

Tesla CEO Elon Musk Pushes Trump on China Auto Trade

Image: Tesla CEO Elon Musk Pushes Trump on China Auto Trade
(Peter Parks/Getty Images)

By    |   Thursday, 08 March 2018 05:19 PM

Tesla CEO Elon Musk sided with President Donald Trump's tariffs on aluminum and steel — but tweeted his own trade war drum beat over the disparity in rules governing car trade between China and the United States.

In his tweets, Musk complained an American car reportedly sold in China pays a 25 percent import duty compared with 2.5 percent for Chinese cars entering the United States.

He also groused that U.S. automakers couldn't own a majority share of their factories in China, while five Chinese electric vehicle companies have full ownership of their factories in the United States.

The complaints came in the wake of Trump's announcement of a a 25 percent tariff on imported steel and 10 percent duties on aluminum.

Trump hinted he wouldn't mind a tariff on cars either because of the "big trade imbalance."

The trade imbalance for vehicles between the United States and China is clear, Quartz reported, citing statistics showing that in January, United States was importing $1.71 billion in finished cars and auto parts per month, compared with monthly exports to China of just $817 million. Tesla's cars, like those of other U.S. automakers, cost 50 percent more in China than in the United States due to tariffs, Quartz reported.

Musk, also the CEO of SpaceX, had been a member of Trump's Strategic and Policy Forum but left last June over the president's decision to ditch the Paris Climate Accord.

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Tesla CEO Elon Musk sided with President Donald Trump's tariffs on aluminum and steel — but tweeted his own trade war drum beat over the disparity in rules governing car trade between China and the United States.
elon musk, donald trump, china, auto trade, tariffs
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2018-19-08
Thursday, 08 March 2018 05:19 PM
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