SpaceX and Tesla chieftain Elon Musk has gone on a tweetstorm, tweeting to President Donald Trump about his recently announced tariffs on foreign imports of steel and aluminum.
Musk, who was a member of President Trump’s advisory council but left in June 2017, asked the president whether the U.S. and China should have the same rules for cars, delving into international trade policy at a time when it has become a touchy subject for many domestic corporations.
“Do you think the US & China should have equal & fair rules for cars?” Musk wrote. “Meaning, same import duties, ownership constraints & other factors.”
Do you think the US & China should have equal & fair rules for cars? Meaning, same import duties, ownership constraints & other factors.
— Elon Musk (@elonmusk) March 8, 2018
For example, an American car going to China pays 25% import duty, but a Chinese car coming to the US only pays 2.5%, a tenfold difference
— Elon Musk (@elonmusk) March 8, 2018
Also, no US auto company is allowed to own even 50% of their own factory in China, but there are five 100% China-owned EV auto companies in the US
— Elon Musk (@elonmusk) March 8, 2018
I am against import duties in general, but the current rules make things very difficult. It’s like competing in an Olympic race wearing lead shoes.
— Elon Musk (@elonmusk) March 8, 2018
We raised this with the prior administration and nothing happened. Just want a fair outcome, ideally where tariffs/rules are equally moderate. Nothing more. Hope this does not seem unreasonable.
— Elon Musk (@elonmusk) March 8, 2018
Musk added that American companies that ship their cars to China pay a significantly larger import duty than Chinese cars that come to the U.S.
“For example, an American car going to China pays 25% import duty, but a Chinese car coming to the US only pays 2.5%, a tenfold difference,” Musk tweeted. – READ MORE
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