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Elon Musk now says he opposes US tariffs on Chinese EVs
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Elon Musk now says he opposes US tariffs on Chinese EVs
May 23, 2024 12:35 PM

PARIS, May 23 (Reuters) -

Tesla founder Elon Musk told tech investors in

Paris on Thursday he opposed U.S. tariffs on Chinese electric

vehicles (EVs), an about-face from his January warning that

trade barriers were needed or China would "demolish most other

car companies in the world."

On Thursday, Musk said he did not favour measures that

distorted the market.

This month, U.S. President Joe Biden rolled out new tariffs

on an array of Chinese imports, including EVs, seeking to

support American manufacturing.

The Biden administration has maintained a number of tariffs

introduced by former President Donald Trump, while ratcheting up

others, including quadrupling EV duties to more than 100%. The

White House said the new measures affect $18 billion in imported

Chinese goods.

"Neither Tesla nor I asked for these tariffs, in fact I was

surprised when they were announced. Things that inhibit freedom

of exchange or distort the market are not good," Musk said at

the Viva Technology conference in Paris via video link.

"Tesla competes quite well in the market in China with no

tariffs and no deferential support. I'm in favour of no

tariffs," Musk said.

In January, Musk warned Chinese automakers would "demolish"

global competitors without trade barriers.

"If there are no trade barriers established, they will

pretty much demolish most other car companies in the world,"

Musk said in a post-earnings analyst call at the start of the

year.

Leading tech executives and political figures such as

ex-Google CEO Eric Schmidt and former U.S. climate

envoy John Kerry took to the stage this year at the annual

VivaTech conference.

Linda Yaccarino, the CEO of Musk-owned social media platform

X, is expected to participate in-person on Friday for a panel

discussion on the future of content.

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