PARIS, France — On Thursday, Tesla CEO Elon Musk expressed his opposition to President Biden’s recent decision to impose a tariff on Chinese electric vehicles.
“Neither Tesla nor I requested these tariffs,” Musk stated during a Q&A session at the VivaTech conference in Paris on Wednesday. “In fact, their announcement came as a surprise to me.”
Last week, the Biden administration announced a 100% tariff on Chinese-made electric vehicle imports to the U.S., aiming to prevent an influx of cheap Chinese EVs. The White House argues that Beijing’s subsidies enable companies to overproduce affordable clean energy products, such as solar panels and EVs, which exceed domestic demand.
Tesla has faced challenges this year due to an aging EV lineup, decreased consumer demand, and heightened global competition, particularly in China. The company’s first-quarter revenue saw its steepest decline since 2012, and its stock price has fallen nearly 30% in 2024.
“Tesla performs well in the Chinese market without tariffs or preferential support,” Musk remarked on Thursday. “I advocate for no tariffs.”
This stance marks a shift for Musk, who earlier this year warned that Chinese EV companies would dominate globally without trade barriers.
“Honestly, I believe that without trade restrictions, they would overshadow most other companies worldwide,” Musk said during Tesla’s earnings call in January.
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