Musk invites Trump to pressure China over auto trade practices

Trump and Musk both expressed their frustrations with Chinese import taxes on American cars

Trump and Musk both expressed their frustrations with Chinese import taxes on American cars

Musk pointed out that American companies that ship their cars to China pay a significantly larger import duty than Chinese cars that come to the US.

Tesla CEO Elon Musk has waded into President Donald Trump's battle over America's trade deficit with China, launching a tweetstorm seeking to push the debate into a direction of extreme interest to the Palo Alto electric vehicle maker.

"For example, an American auto going to China pays 25% import duty, but a Chinese vehicle coming to the United States only pays 2.5%, a tenfold difference", Musk tweeted.

Drastic differences between the US and China in the size of tariffs on auto imports mean American vehicle manufacturers are "competing in an Olympic race wearing lead shoes", Musk suggested.

"We raised this with the prior administration and nothing happened".

"Just want a fair outcome, ideally where tariffs/rules are equally moderate", Musk tweeted. "Nothing more. Hope this does not seem unreasonable", he added.

Trump quoted one of Musk's tweets in his announcement on new tariffs and said American automakers have not been treated fairly by trade rules around the world.

Cigna to buy Express Scripts for $54 billion
The terms represent a roughly 31 percent premium to Express Scripts' closing price on Wednesday, according to the statement. The move, following on the heels of Aetna's merger with CVS Health , could lower costs for consumers, at least in theory.

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.

Tesla's success in recent years has underscored the company's dependence on Mr Musk and has spurred some concern that his other ventures, including Space Exploration Technologies Corp and Boring Company, will rob the company of his full attention.

No word on whether Trump responded to Musk via Twitter's direct message feature.

Trump then went on to announce unspecified plans for upcoming "reciprocal taxes or "mirror taxes," again direcly addressing Musk's issue of disparity between USA tariffs and those imposed by other countries. They've known it for years, they never did anything about it". Musk previously served on Trump's advisory council.

'To me, that was more incredible than watching the rocket go up because I've never seen that before. They're saving the boosters. Musk said that the high tariffs on cars imported to China, as well as manufacturing rules in the Asian country, have made things "very difficult" for the company. "Meaning, same import duties, ownership constraints & other factors", Musk tweeted on Thursday morning. They came back, without wings, without anything.

To get around the 25 percent import tariff, though, the company has explored setting up a factory. It will come with Tesla's Autopilot system, which is the auto maker's driver assistance system that uses sensors, radar and cameras to steer, speed up and slow down a vehicle based on traffic and road conditions.

Recommended News

  • Jennifer Garner Adds Voiceover to Her Oscars Meme

    Jennifer Garner Adds Voiceover to Her Oscars Meme

    She eventually joined in on the fun in three Instagram stories , posting the video along with a lighthearted voiceover each time. What was Jennifer Garner thinking of at this exact moment? The internet's greatest mystery of the last day has been solved.
    Trump asked witnesses in Russia probe about investigator discussions

    Trump asked witnesses in Russia probe about investigator discussions

    It's unclear when Trump's conversation with Priebus took place, although the Times reported it happened "in recent months". Trump also reportedly asked McGahn last April to help convince Comey to publicly clear him in the Russian Federation probe.
    BJP Leader Deletes FB Post Warning Periyar Statue to Be Demolished Too

    BJP Leader Deletes FB Post Warning Periyar Statue to Be Demolished Too

    Lenin's figure was brought down after the BJP swept the elections , ending 25 years of Marxist rule in the northeast state. Lenin's statue was destroyed in Tripura.
  • Officer charged with assaulting jaywalking suspect

    Officer charged with assaulting jaywalking suspect

    Prior to the Thursday announcement, the City of Asheville had filed a petition to have the body camera footage released. The mayor and City Council said they did not know of the incident before the video emerged.
    European Central Bank: US President Trump tariff move

    European Central Bank: US President Trump tariff move "dangerous"

    Shortly after the announcement of the bank's decision, the Euro appreciated by 0.06% to 1.2419 United States dollars . The currency has been rising since it hit a seven-week low of US$1.2154 when Trump unveiled his tariff plan last week.
    United Kingdom  companies urge less water use after post-storm thaw

    United Kingdom companies urge less water use after post-storm thaw

    Many Londoners are still without water as Thames Water struggles to restore full service after last week's extreme weather. Several schools in London and Kent were closed on Monday because they could not guarantee running water.
  • Splatoon 2 story DLC out this summer

    Splatoon 2 story DLC out this summer

    Purchasing the DLC early will enable you to receive Octo headgear and clothes that you'll be able to use in Splatoon 2 today. The Splatoon 2 Octo Expansion is available on the Nintendo Switch eShop now and can be pre-purchased ahead of release.
    Donald Trump agrees to have a meeting with Kim Jung-un Video

    Donald Trump agrees to have a meeting with Kim Jung-un Video

    Defense Secretary Jim Mattis was guarded when asked on Wednesday about the prospect of North Korean engagement. Pyongyang is said to have offered to suspend nuclear and missile tests while talks were under way.
    Liverpool end long wait for last eight

    Liverpool end long wait for last eight

    This will be the 170th meeting in league competition between these sides - Manchester United have won 67 to Liverpool's 55. I prefer to not play an English team, but I don't care who.
  • Champions League: Tottenham deserved to beat Juventus - Son

    Champions League: Tottenham deserved to beat Juventus - Son

    I think we played very well - better than them. "We waited for the right time, showed patience and won the game". Tottenham's Champions League dream was ended by a second-half sucker-punch from Italian champions Juventus .
    Washington Becomes First State To Sign Net Neutrality Bill Into Law

    Washington Becomes First State To Sign Net Neutrality Bill Into Law

    Yet the FCC decision was not fully supported by all FCC commissioners, as it was only passed after a 3-2 vote in December. If other states follow Washington's lead, ISPs in those states would also operate under different rules.
    You Can Now Send Your Signature to the Sun

    You Can Now Send Your Signature to the Sun

    In the 1950s, Parker proposed a number of concepts about how stars - including our Sun - give off energy. The rocket speed is so quick, at its nearest approach it will go at roughly 430,000 miles per hour .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.