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Elon Musk is pestering Trump to change vehicle trade rules with China

10 March 2018

Trump's remarks came after Musk, who founded Tesla and SpaceX, asked the president on Twitter whether he thought the US and China should have the same guidelines on trade involving cars.

In 2016, Tesla sold $1 billion of electric cars in China, the company reported.

Trump then went on to announce unspecified plans for upcoming "reciprocal taxes or "mirror taxes," again direcly addressing Musk's issue of disparity between US tariffs and those imposed by other countries".

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Trump read from Musk's tweets during his steel announcement.

"Just want a fair outcome, ideally where tariffs/rules are equally moderate", Musk tweeted. That's from Elon, but everybody knows it.

There is also not much to go on about how much advanced the new map system is compared to what is already available, meaning auto enthusiasts and potential Tesla vehicle buyers will just have to take Musk's word for it that it will be light years ahead of the competition.

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'I am against import duties in general, but the current rules make things very hard. It's a mirror tax, ' said Trump, explaining that the tax would try to replicate the taxes other nations put on US products.

Morgan Stanley has said the Tesla Semi could be 70 per cent cheaper to operate than a diesel-powered truck and Musk reinforced this point, by saying it would be "economic suicide" to continue driving diesel trucks. Trump said last week the US will implement a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports, but didn't specify whether the tariffs will be applied to all imports or just imports from specific countries. "Nothing more. Hope this does not seem unreasonable", Musk tweeted. Nobody has seen it before, where they're saving the boosters. On top of a 25% tax on imported vehicles, China doesn't allow foreign auto companies full ownership of their Chinese production plants. "They landed so beautifully", Trump added.

Baillie Gifford & Co. and T. Rowe Price, which together hold a 14% stake in Tesla, told Bloomberg News they plan to vote in favor of a $2.6 billion compensation package for Musk proposed by the company's board.

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The said new technology for Tesla cars are being hailed by Musk himself as cutting-edge and quite possibly more advanced than any existing system.

Elon Musk is pestering Trump to change vehicle trade rules with China