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Elon Musk says he opposes US tariffs on Chinese EVs

Sunday, 26 May 2024



PARIS, May 25 (Reuters): Tesla founder Elon Musk told tech investors in Paris on Thursday he opposed US tariffs on Chinese electric vehicles (EVs), an about-face from his January warning that trade barriers were needed or China would "demolish most other car companies in the world."
On Thursday, Musk said he did not favour measures that distorted the market. This month, US President Joe Biden rolled out new tariffs on an array of Chinese imports, including EVs, seeking to support American manufacturing.
The Biden administration has maintained a number of tariffs introduced by former President Donald Trump, while ratcheting up others, including quadrupling EV duties to more than 100 per cent.