(qlmbusinessnews.com Tues. 28th May, 2024) London, UK —
Musk Opposes US Tariffs on Chinese Electric Vehicles.
Tesla's CEO Elon Musk has voiced his opposition to the recent US tariffs imposed on Chinese electric vehicles (EVs), a stance that comes shortly after President Joe Biden significantly increased these tariffs.
Speaking via video link at a technology conference in Paris, Musk stated, “Neither Tesla nor I asked for these tariffs.” His remarks contrast sharply with his earlier warning in January, where he suggested that Chinese car manufacturers would “demolish” their global competitors if not for trade barriers.
The White House announced the new measures, including a substantial 100% tariff on EVs imported from China, as a response to what it described as unfair policies, aiming to protect American jobs. In his comments on Thursday, Musk said, “In fact, I was surprised when they were announced. Things that inhibit freedom of exchange or distort the market are not good.”
Musk emphasized that Tesla thrives in the Chinese market without the need for tariffs or special support, stating, “Tesla competes quite well in the market in China with no tariffs and no deferential support. I’m in favour of no tariffs.”
President Biden has continued to enforce several tariffs on China initiated by former President Donald Trump, while also intensifying trade pressure on Beijing. Last week, Biden reiterated his commitment to prevent China from “unfairly controlling the market” for crucial goods like electric vehicles, batteries, computer chips, and essential medical supplies.
China has expressed strong opposition to the increased tariffs, indicating it would implement retaliatory measures. This week, China launched an anti-dumping investigation into imports of polyoxymethylene copolymer, a widely used plastic, from the US, EU, Taiwan, and Japan. The Ministry of Commerce’s announcement of this investigation is seen as a clear sign of China's intention to retaliate in ongoing trade disputes with the US and Europe.
In addition, China hinted that it might impose tariffs up to 25% on cars with large engines imported from the EU and the US. The China Chamber of Commerce to the EU revealed that it had received information about this potential move from “insiders.”
The European Commission (EC), which manages the EU's trade policies, has set a 4 July deadline to decide on potential measures against imports of Chinese-made EVs.
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