Reported 6 months ago
Tesla CEO Elon Musk criticized the Biden Administration's decision to increase tariffs on Chinese electric vehicles from 25% to 100%, stating that restrictions on freedom of exchange or market distortion are detrimental. This shift in tone from Musk's previous support for Chinese tariffs reflects concerns about cheap Chinese EVs flooding global markets and undermining competitors. Other industry leaders, like Carlos Tavares, have also expressed skepticism about tariffs as a solution, emphasizing the need for Western carmakers to restructure to compete with lower-cost Chinese manufacturers.
Source: YAHOO