Elon Musk's tweets on tariffs 'very interesting'

Elon Musk's 10 Secrets To Success

Elon Musk's 10 Secrets To Success

Tesla CEO Elon Musk is calling upon President Trump to put in place fair policies regarding automotive practice (mostly import duties) between the USA and China. Tesla has been exporting cars to China and accounts for almost nine per cent of the electric vehicles (EV) market in the country.

"Just want a fair outcome, ideally where tariffs/rules are equally moderate", Musk tweeted.

While Donald Trump is yet to issue a direct response to Musk's statements on Twitter, the US President has been quite open about his support for Elon Musk. "Meaning, same import duties, ownership constraints & other factors", Musk replied, before describing China's import tariff, factory ownership policies, and their effect on Tesla.

Trump was quick to lap up the criticism, saying that USA politicians had known this for years but did nothing.

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Chief Executive Elon Musk could be the recipient of a $2.6 billion award, and he would have two of the company's largest shareholders to thank. Musk tweeted at Mr. Trump earlier Thursday that he is "against import duties in general, but the current rules make things very hard".

Donald Trump signed a proclamation on Thursday imposing new tariffs of 25 per cent on imported steel and 10 per cent on aluminum, a move that will take effect in 15 days. While Tesla wants complete ownership of its factory, China's central government requires that Chinese companies have at least a 50% ownership stake in vehicle factories built by foreign companies. "To me, that was more incredible than watching the rocket go up because I've never seen that before". They came back without wings or without anything, they landed so beautifully'.

Tesla calls this a "production" run, but its target for actually producing these still seems to be 2019, with a likely delivery time frame more like 2020. "They landed so beautifully", Trump added. Sales of battery-electric, plug-in hybrid and fuel cell-powered autos could surpass one million units this year, according to the China Association of Automobile Manufacturers. "They make it impossible for our cars (and more) to sell there".

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