(MENAFN- Trend News Agency ) Tesla's Elon Musk is complaining to President Donald Trump about China's car tariffs, CNBC reports.
"Do you think the US & China should have equal & fair rules for cars? Meaning, same import duties, ownership constraints & other factors," Musk said on Twitter in response to a Trump tweet about trade with China. "I am against import duties in general, but the current rules make things very difficult. It's like competing in an Olympic race wearing lead shoes."
The auto executive said China puts a 25 percent import duty on American cars, while the U.S. only does 2.5 percent for Chinese cars. He added that no American car company is "allowed to own even 50% of their own factory" in the Asian country, but China's auto firms can own their companies in the U.S.
The Trump administration has asked Beijing for a $100 billion reduction in the U.S. trade deficit with the Asian country, The Wall Street Journal reported Thursday, citing people familiar with the talks.
The request to Beijing comes amid a heated debate over trade policy after Trump announced a proposal for a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports last week.
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