Tesla CEO Elon Musk said the U.S. auto industry would be decimated if the U.S. didn't impose heavy tariffs on China.
According to CNBC, Musk made the remarks during Tesla's earnings call this week, saying that without U.S. tariffs on China, Chinese automakers like BYD and Nio would “nearly wipe out” U.S. automakers. suggested.
“Chinese car companies are the most competitive car companies in the world,” Musk said in a phone conversation. report:
“So, I think it could be very successful outside of China, depending on what kind of tariffs and trade barriers are put in place. ” Musk said this during Tesla's earnings conference on Wednesday. [Emphasis added]
“Frankly, I think, If trade barriers are not established, most other companies will be destroyed In the world. ” [Emphasis added]
At the same time, United Auto Workers (UAW) President Sean Fein this week slammed former President Donald Trump's plan to significantly increase tariffs on China and impose a 10% tariff on all foreign imports. -Supported President Biden.
This Congress, the House Select Committee on the Chinese Communist Party (CCP) recommended that Biden end free trade between the United States and China, including the White House's revocation of China's Permanent Normal Trade Relations Status (PNTR).
China has already overtaken Japan as the world's largest exporter of automobiles. Similarly, Chinese automaker BYD became the world's biggest seller of electric vehicles (EVs), beating out Tesla for top honors.
Chinese automakers have made it clear that they want to flood the U.S. market with cheap Chinese-made cars, including EVs. In some cases, automakers have hinted that they are considering using tariff reduction programs to avoid existing U.S. tariffs.
General Motors (GM) has long used the program to reduce U.S. tariffs on Chinese-made Buick Envision crossovers.
John Binder is a reporter for Breitbart News. Please email jbinder@breitbart.com. Follow him on Twitter here.
