Would you like to receive notifications on latest updates of the following headlines?

Elon Musk Stresses Need for Market Freedom,Opposes US Tariffs on Chinese EVs

POSTED ON May 24, 2024 •   USA      BY Abiodun Saheed Omodara
Tesla boss Elon Musk l Credit:@elonmusk

Tesla boss Elon Musk has opposed US tariffs on Chinese electric vehicles (EVs), just days after President Joe Biden quadrupled levies on EVs imported from China.

“Neither Tesla nor I asked for these tariffs”, the multi-billionaire told a technology conference in Paris via video link.

 Musk’s comments are at odds with a warning he made in January that Chinese car makers would “demolish” competitors from other countries if there were no trade barriers.

Last week, the White House said new measures, including a 100% tariff on EVs from China, were a response to unfair policies and intended to protect US jobs.

“In fact, I was surprised when they were announced. Things that inhibit freedom of exchange or distort the market are not good,” Mr Musk said on Thursday.

“Tesla competes quite well in the market in China with no tariffs and no deferential support. I’m in favour of no tariffs,” he added.

Mr Biden has maintained a number of tariffs on China that were introduced by his predecessor Donald Trump, while increasing trade pressure on Beijing.

 Recently, Mr Biden vowed to not let China “unfairly control the market” for electric vehicles and other key goods, including batteries, computer chips and basic medical supplies.

China said it was opposed to the tariff hikes and would take retaliatory measures.

This week, China launched an anti-dumping probe nto imports of a widely used plastic from the US, EU, Taiwan and Japan.

The announcement from the Ministry of Commerce that it will investigate imports of polyoxymethylene copolymer – which is used in electronics and cars – was seen as a signal that China will hit back in its trade disputes with the US and Europe.

Also this week, China signalled it could hit cars with large engines imported from the EU and US with tariffs of as much as 25%.

The China Chamber of Commerce to the EU said it had been told about the potential move by what it called “insiders”.

The European Commission (EC), which oversees the EU’s trade policies, has given itself a 4 July deadline to decide whether to impose measures against imports of Chinese-made EVs.

READ ALSO
Will Pope Leo XIV Lose His American Citizenship? A Legal and Diplomatic Puzzle Unfolds
BY Abiodun Saheed Omodara May 14, 2025 0

VATICAN CITY – When Cardinal Robert Francis Prevost was elected Pope Leo XIV on May 8, he beca...

READ ALSO
Human Rights Monitors Urge UN Action Against U.S. Mass Deportations of Migrants
BY Abiodun Saheed Omodara May 9, 2025 0

ABUJA, Nigeria - The Human Rights Monitors, a group of Civil Society Organisations (CSOs), is urging...

READ ALSO
A armed man shoot dead outside Hendricks County Courthouse
BY Abiodun Saheed Omodara May 5, 2025 0

An armed man was shot and killed outside the Hendricks County Courthouse on Monday afternoon, prompt...

READ ALSO
Trade Wars Take Center Stage at IM ,World Bank Spring Meetings
BY Abiodun Saheed Omodara April 22, 2025 0

Global finance leaders are convening in Washington this week for the semi-annual meetings of the Int...

READ ALSO
WTO warns of global trade decline amid U.S. tariffs
BY Abiodun Saheed Omodara April 17, 2025 0

The World Trade Organization (WTO) has issued a warning that global trade could decrease this year a...

READ ALSO
U.S. shows highest anxiety over AI Job loss amidst technological advancements
BY Abiodun Saheed Omodara April 3, 2025 0

Despite its advanced status, research indicates that the United States of America (USA) has the high...

READ ALSO
Nigeria at risk of HIV treatment shortage as WHO highlights impact of U.S. foreign Aid cuts
BY Abiodun Saheed Omodara March 18, 2025 0

The World Health Organization (WHO) announced on Monday that Nigeria is one of nine countries on the...

READ ALSO
Free speech at risk as Trump targets International Students in Anti-Israel demonstrations
BY Abiodun Saheed Omodara March 5, 2025 0

USA (Reuter)- President Donald Trump has pledged to deport international students participating in a...

OUR CHANNELS:

House of Representatives Advances Bill to Make Voting Mandatory for Nigerians
BY Abiodun Saheed Omodara May 15, 2025 0

Abuja, Nigeria- The House of Representatives has passed for second reading a bill seeking to am...


NANS Calls for JAMB Registrar Ishaq Oloyede's Resignation Over 2025 UTME Errors
BY Abiodun Saheed Omodara May 15, 2025 0

The National Association of Nigerian Students (NANS) has called for the resignation of Ishaq Oloyede...


Peter Obi Commends JAMB’s Accountability, Warns of Institutional Fragility Over UTME Glitches
BY ROCKETPARROT.com staff May 15, 2025 0

Former Anambra State Governor and Labour Party presidential candidate in the 2023 elections, ...


Lagos Introduces Specialized Units for Crime Prevention
BY Abiodun Saheed Omodara May 15, 2025 0

In an effort to keep Lagos secure for both its residents and visitors, the Neighbourhood Safety Agen...


UK Urges Nigerians to Combat Visa Fraud amid Surge in Applications
BY Abiodun Saheed Omodara May 15, 2025 0

Richard Montgomery, the British High Commissioner in Nigeria, has called on Nigerians to stay alert...


FOX59: Woman Fatally Shot Outside Event Center on Indianapolis East Side
BY ROCKETPARROT.com staff May 15, 2025 0

INDIANAPOLIS — A woman was shot and killed Wednesday night outside an event center on the east...


DSS vs. Pat Utomi: Legal Battle Over Shadow Government Tests Nigeria’s Democratic Boundaries
BY ROCKETPARROT.com staff May 15, 2025 0

The Department of State Services (DSS) has filed a lawsuit against Prof. Pat Utomi, a renowned eco...


Shadow Government or Civic Protest? Experts Debate What Pat Utomi's Move Really Means
BY ROCKETPARROT.com staff May 16, 2025 0

ABUJA – As the Department of State Services (DSS) seeks to shut down Prof. Pat Utomi’s s...


Will Pope Leo XIV Lose His American Citizenship? A Legal and Diplomatic Puzzle Unfolds
BY Abiodun Saheed Omodara May 15, 2025 0

VATICAN CITY – When Cardinal Robert Francis Prevost was elected Pope Leo XIV on May 8, he beca...


30% of Lagos State Employees on Study Leave Abroad Fail to Return - Commissioner
BY Abiodun Saheed Omodara May 15, 2025 0

LAGOS, Nigeria - The Lagos State government has disclosed that 30% of its employees who took study l...


More Articles

Load more...

Menu