Posts Tagged ‘Trump tariff’

Tesla’s Musk Wants Trump to Expand Trade War

"It's like competing in an Olympic race wearing lead shoes."

by on Mar.09, 2018

Elon Musk, was on Trump's economic advisory council until it disbanded over immigration policies.

In a rare show of pique aimed at President Donald Trump, automakers, suppliers and industry trade groups have all but unanimously voiced their disappointment over new steel and aluminum import tariffs.

The one notable exception has been Tesla CEO and founder Elon Musk who, despite claiming to be generally opposed to import tariffs, appears to be backing the White House. If anything, the tweet-happy executive is spurring Trump to take even broader action, specifically targeting China over the way it handles foreign-made cars, as well as foreign automakers who want to set up manufacturing operations in that country.

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“I am against import duties in general, but the current rules make things very difficult,” Musk said in a tweet. “It’s like competing in an Olympic race wearing lead shoes.”


MEMA Against Trump Border Tax Plan

Proposed tax likely to raise prices, cost jobs, group says.

by on Mar.02, 2017

President Trump's proposed tax on goods coming into the U.S., particularly cars and trucks, is losing support.

The Motor and Equipment Manufacturers Association, the chief lobbying organization that represents automotive suppliers, has come out in opposition to the Trump administration’s plans for a border tax.

While MEMA supports tax reform, a border adjustment tax, which is a component of the current U.S. House Republican tax reform proposal, could disrupt the integrated supply chain for many companies and cause a ripple effect throughout the U.S. economy.

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MEMA said the tax would increase costs for vehicle manufacturers, decrease available capital for new product development, increase consumer prices, reduce sales and potentially eliminate manufacturing jobs in America.  (more…)