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Trump describes Musk’s Tesla India scheme as ‘unfair’
(MENAFN) US President Donald trump has expressed concerns that Elon Musk’s plan to build a Tesla factory in India could be detrimental to the American economy, citing India’s high import duties on foreign vehicles and components. This follows reports in Indian media that Tesla has started hiring staff in the country, months after its initial market entry plans appeared to stall.
In a joint Fox News interview with Musk, Trump emphasized his intention to introduce reciprocal tariffs against countries that impose high tariffs on US goods. Trump used India as an example, noting that while he doesn’t oppose Musk building a factory there, it would be "unfair" to the US. He pointed out that India’s import duties, which can reach up to 100%, make it nearly impossible for foreign carmakers like Tesla to sell their vehicles in India.
Trump also mentioned that he raised the issue of India’s high tariffs with Prime Minister Narendra Modi during his visit to the US last week, agreeing to work on a trade deal to resolve the issue. The proposed system would involve the US imposing similar tariffs on imports from countries that charge high duties on US products.
Reports suggest that Tesla has started its hiring process in India, listing around 13 job openings on LinkedIn. The company has also reportedly chosen locations in New Delhi and Mumbai for showrooms. While Tesla doesn’t yet manufacture vehicles in India, the company has been trying to tap into the fast-growing market for over a year. In response to lobbying by Tesla, India has introduced a new electric vehicle (EV) policy, offering incentives like reduced import duties for companies investing at least $500 million in local manufacturing. This revision of tariffs comes after Tesla’s lobbying efforts and is seen as an attempt to make India more attractive to foreign EV companies.
In a joint Fox News interview with Musk, Trump emphasized his intention to introduce reciprocal tariffs against countries that impose high tariffs on US goods. Trump used India as an example, noting that while he doesn’t oppose Musk building a factory there, it would be "unfair" to the US. He pointed out that India’s import duties, which can reach up to 100%, make it nearly impossible for foreign carmakers like Tesla to sell their vehicles in India.
Trump also mentioned that he raised the issue of India’s high tariffs with Prime Minister Narendra Modi during his visit to the US last week, agreeing to work on a trade deal to resolve the issue. The proposed system would involve the US imposing similar tariffs on imports from countries that charge high duties on US products.
Reports suggest that Tesla has started its hiring process in India, listing around 13 job openings on LinkedIn. The company has also reportedly chosen locations in New Delhi and Mumbai for showrooms. While Tesla doesn’t yet manufacture vehicles in India, the company has been trying to tap into the fast-growing market for over a year. In response to lobbying by Tesla, India has introduced a new electric vehicle (EV) policy, offering incentives like reduced import duties for companies investing at least $500 million in local manufacturing. This revision of tariffs comes after Tesla’s lobbying efforts and is seen as an attempt to make India more attractive to foreign EV companies.
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