Musk as minister? Trump says he's open to the idea
Republican presidential candidate Donald Trump has expressed his willingness to consider Tesla CEO Elon Musk for a cabinet position or advisory role, if he wins the 2024 election. In an interview with Reuters following a campaign event in York, Pennsylvania, Trump described Musk as "a very smart guy." This statement comes after Musk, currently the world's richest person, publicly endorsed Trump in the US presidential race last month.
How Musk responded to the news
Trump's stance on EV tax credit and potential changes
Trump also discussed the possibility of terminating a $7,500 tax credit for electric vehicle (EV) purchases. He stated, "Tax credits and tax incentives are not generally a very good thing," but clarified that he has not made any final decisions on this matter yet. If elected, Trump could potentially reverse Treasury Department rules that currently allow automakers to benefit from this credit or request Congress to repeal it.
Trump's plans for US auto industry and Chinese automakers
Trump revealed his intention to discourage exports of vehicles produced by the Detroit Three automakers (General Motors, Ford, and Stellantis) and others from Mexico for US consumers, by imposing new tariffs. He also plans to prevent Chinese automakers from establishing new plants in Mexico for the American market. "If you put tariffs on those cars, they're going to make it here," Trump stated during his interview with Reuters.
Trump's views on EV market and emissions standards
Trump plans to revoke the Biden administration rules that encourage automakers to manufacture more EVs and plug-in hybrids, to meet stricter emissions standards. He anticipates a "much smaller market" for EVs due to cost and battery range issues. This stance contrasts with his previous attempts to repeal the EV tax credit during his presidency, which was later expanded by President Joe Biden in 2022.
Trump's criticism of Google and stance on TikTok
Trump also criticized Google but did not specify if he believes the tech company should be split up, following a judge's ruling this month that declared Google an illegal monopoly in the online search market. Regarding TikTok, Trump has previously stated his intention to prevent the short video app from being banned despite a law approved in April that sets a deadline of January 19, 2025, for Chinese owner ByteDance to divest TikTok's US assets.
