Beijing3 minutes ago
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Billionaire American businessman and his colleague in Trump Administration, Elon Musk, has stopped selling two models of Tesla car in China. The decision has been taken amidst imposing 125% tariffs on China’s American goods.
Both these models are of premium cars, named Model S and Model X. Both these models are built in the US California plant. Tesla’s website in China on Friday removed the order option for both models.
However, the company has not officially given the reason for this. China is believed to be the reason for Tariff on American goods. According to reports, there was already SAIL Limited of these models in China, as both of them are expensive models.
China’s 125% tariff in response to America’s 145% tariff
Donald Trump has imposed 145% extra tariffs on China till April 10 since becoming President. In response to this, China has also taken action and imposed 125% tariffs on American goods. Trump announced a reciperook tariff on 60 countries including China and India on 2 April. Trump then imposed 34% tariff in response to China’s 67% tariff.
China also retaliated and imposed extra 34% tariff on the US. Since then, both countries have increased tariffs 2 times.
On the other hand, Trump has banned the reciperook tariff of 90 days on 10 April. However, Trump has not banned the tariff on China. This has led to a trade war between the two countries.
Tesla’s first factory in China outside America
Tesla launched its first factory outside the US in China. The factory, which started in 2020, is named Shanghai Gigafactory. Tesla produces its models X and Y here. From here they are sold in China and other countries.
This Tesla factory in Shanghai is very special. Tesla was approved to open a factory without any local partner in China. This was the first time in China. Ilon Musk is reaching the top leaders of China. According to NYT report, former Shanghai mayor and current Prime Minister of China have had close relationship with Lee Chiang.
Musk is silent on Trump’s tariff war
Ilon Musk has not yet responded to Trump’s tariff war with China. However, according to the report of NYT, Musk has informally spoke on the issue with Trump.
Musk has also publicly disputed with White House Advisor Peter Navarro. Peter is one of the major strategists of Navaro Trump’s trade policy.
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Read this news related to Trump’s tariff ….
Now China imposed 125% tariff on America: Jinping said- we do not bow down to pressure; America imposed 145% tariff
Tariff war between the US and China is increasing. In response to the US 145% tariff, China has now imposed 125% tariff. This will be applicable from tomorrow. China has said that now it will not respond to any additional tariffs imposed by the US. Read full news here …