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Excerpt from www.nbcdfw.com
PARIS, France — Tesla CEO Elon Musk said on Thursday that he doesn’t support President Biden’s recent announcement of a tariff on Chinese electric vehicles.
“Neither Tesla nor I asked for these tariffs,” Musk said during a question and answer session at the VivaTech conference Wednesday in Paris. “In fact, I was surprised when they were announced.”
The Biden administration last week said it was placing a 100% tariff on Chinese-made electric vehicle imports to the U.S. in a bid to stop cheap Chinese EVs from flooding the U.S. market. The White House says Beijing’s subsidies are helping companies overproduce cheap clean energy products like solar panels and EVs that outpace domestic demand.
Tesla has been struggling this year due to an aging fleet of EVs, weaker consumer demand for its vehicles and increased global competition, most notably in China. Revenue slumped in the first quarter by the most since 2012, and the stock price is down almost 30% in 2024.
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