Tech investors in Paris on Thursday saw Tesla (TSLA.O) creator Elon Musk reject U.S. tariffs on Chinese electric cars (EVs), reversing his January warning that trade barriers were needed or China would “demolish most other car companies in the world
Thursday, Musk expressed his opposition to market-disrupting measures.
This month, U.S. President Joe Biden implemented new tariffs on various Chinese imports, including electric vehicles, to bolster American manufacturing.
While maintaining several tariffs imposed by former President Donald Trump, the Biden administration has increased others, such as the tariff on electric vehicles, which has quadrupled to over 100%. According to the White House, the new measures affect $18 billion worth of imported Chinese products.
“Neither Tesla nor I requested these tariffs; their announcement caught me off guard.” “Things that impede the free flow of information or manipulate the market are undesirable,” Musk stated via video link at the Viva Technology conference in Paris.
Tesla competes in the Chinese market without tariffs and preferential treatment. “I support the elimination of tariffs,” Musk stated.
Musk warned in January that Chinese manufacturers would “demolish” global competitors without trade barriers.
“They will virtually demolish the majority of other automakers in the world if trade barriers are not established,” Musk said on a post-earnings analyst call at the beginning of the year.
Former Google (GOOGL.O) executives and prominent political figures, among others, launched a new tab. This year, former U.S. climate envoy John Kerry and CEO Eric Schmidt addressed the annual VivaTech conference.
On Friday, Linda Yaccarino, the CEO of X, a social media platform owned by Elon Musk, is scheduled to attend a panel discussion regarding the future of content in person.
