Elon Musk, CEO of Tesla, an EV company with deep ties to Communist China, spoke out against the recently announced 100% tariffs on Chinese-made electric vehicles at the VivaTech conference this week.
CNBC Reports Elon Musk clarified that neither he nor his company, Tesla, asked for the tariffs imposed by the Chinese Communist Party. “I was actually surprised when the tariffs were announced,” Musk said in response to a question from CNBC’s Karen Tso during a Q&A at the conference.
The tariffs on Chinese-made EV imports were designed to protect the U.S. market from an influx of cheap Chinese-made EVs. The administration believes Beijing’s subsidies are allowing companies to overproduce affordable clean energy products, like solar panels and EVs, beyond domestic demand.
Elon Musk’s Halloween costume (Taylor Hill/Getty)
Electric-vehicle giant Tesla has faced challenges this year due to an aging fleet, weakening consumer demand and increased global competition, especially in China. The company saw its biggest revenue drop since 2012 in the first quarter and its shares have plummeted nearly 30% into 2024.
But Musk is confident Tesla can compete in the Chinese market without the tariffs and preferential treatment. “Tesla can compete quite well in the Chinese market without the tariffs and preferential treatment,” he argued during the conference.
The Tesla CEO also emphasized his opposition to tax incentives for EVs, saying, “I’m in favor of no tariffs or incentives whatsoever on EVs or oil and gas,” a position that aligns with Musk’s belief in a level playing field for all competitors in the market.
Musk’s comments on Thursday came after he previously suggested Chinese EV companies could dominate the global market if trade restrictions weren’t put in place. During Tesla’s earnings call in January, he warned, “Frankly, I think that if trade barriers weren’t put in place, it would pretty much wipe out most other companies in the world.”
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Lucas Nolan is a reporter for Breitbart News covering free speech and online censorship.
