York, August 19, 2024, The Europe Today: Republican presidential candidate Donald Trump stated on Monday that, if elected, he would consider ending the $7,500 tax credit for electric vehicle (EV) purchases and expressed openness to naming Tesla CEO Elon Musk to a cabinet or advisory role.
In an interview with Reuters following a campaign event in York, Pennsylvania, Trump questioned the efficacy of tax credits, particularly those for EVs. “Tax credits and tax incentives are not generally a very good thing,” he remarked when asked about the federal EV credit.
Trump, who has previously attempted to repeal the EV tax credit during his presidency, suggested he could take steps to reverse Treasury Department rules that have made it easier for automakers to access the credit. He also hinted at the possibility of urging Congress to repeal the credit entirely. “I’m not making any final decisions on it,” Trump noted. “I’m a big fan of electric cars, but I’m a fan of gasoline-propelled cars, and also hybrids and whatever else happens to come along.”
On the subject of Elon Musk, Trump praised the Tesla CEO as a “very smart guy” and said he would consider offering him a role in his administration. “I certainly would, if he would do it. He’s a brilliant guy,” Trump added. Musk recently endorsed Trump in the U.S. presidential race, though Tesla did not immediately respond to requests for comment.
Additionally, Trump indicated that he would rescind Biden administration rules that push automakers to produce more EVs and plug-in hybrids to meet stricter emissions standards. He argued that the market for EVs would remain limited due to cost and battery range concerns.
Trump also reiterated his stance on protecting the U.S. auto industry, expressing his intention to impose tariffs on vehicles produced by the Detroit Three automakers and others in Mexico for U.S. consumers. “If you put tariffs on those cars, they’re going to make it here,” Trump stated, arguing that such measures would incentivize domestic production.
While Trump is opposed to vehicle imports from Mexico, he is open to foreign automakers, including those from China, building vehicles within the United States. “We’re going to give incentives, and if China and other countries want to come here and sell the cars, they’re going to build plants here, and they’re going to hire our workers,” he explained.
Separately, Trump sharply criticized Alphabet’s Google, though he declined to comment on whether the technology company should be broken up following a judge’s recent ruling that Google was operating as an illegal monopoly.
Trump’s remarks highlight his ongoing focus on reshaping U.S. economic and industrial policies, particularly in the automotive sector, as he campaigns for a return to the presidency.
