Tesla’s Elon Musk is actually complaining to President Donald Trump about China’s car tariffs.
“Do you think the US & China should have equal & fair rules for cars? Meaning, same import duties, ownership constraints & different factors,” Musk said on Twitter in response to a Trump tweet about trade with China. “I am against import duties in general, yet the current rules make things very difficult. which’s like competing in an Olympic race wearing lead shoes.”
The auto executive said China puts a 25 percent import duty on American cars, while the U.S. only does 2.5 percent for Chinese cars. He added which no American car company is actually “allowed to own even 50% of their own factory” within the Asian country, yet China’s auto firms can own their companies within the U.S.
Trump responded to Musk’s tweets later at his steel in addition to aluminum tariff press conference Thursday.
“We are going to be doing a reciprocal tax program at some point, producing sure which if China is actually going to charge us 25% or if India is actually going to charge us 75% in addition to we charge them nothing … We’re going to be at those same numbers. which’s called reciprocal, a mirror tax,” Trump said after reading Musk’s earlier tweets out loud.
The Trump administration has also asked Beijing for a $100 billion reduction within the U.S. trade deficit with the Asian country, The Wall Street Journal reported Thursday, citing people familiar with the talks.