Republican presidential candidate Donald Trump acknowledged on Monday that, if elected, he would think about ending the $7,500 tax credit score for electrical car (EV) purchases and expressed openness to appointing Tesla CEO Elon Musk to a cupboard or advisory position.
“Tax credit and tax incentives will not be typically an excellent factor,” Trump mentioned in an interview with Reuters following a marketing campaign occasion in York, Pennsylvania, when requested concerning the EV credit score.
When questioned about the potential of naming Musk to an advisory or cupboard place, Trump responded affirmatively. “He’s a really good man. I definitely would, if he would do it. I definitely would. He’s an excellent man,” Trump remarked.
Final month, Musk publicly endorsed Trump within the ongoing U.S. presidential race. Tesla has not commented on the matter. Musk additionally hosted Trump to a wildly well-liked dialog on X.
If elected, Trump indicated he might search to reverse latest Treasury Division guidelines which have made it simpler for automakers to make the most of the $7,500 credit score, or he might ask Congress to repeal it altogether.
As president, Trump beforehand tried to repeal the EV tax credit score, which was later expanded by President Joe Biden in 2022. “I’m not making any ultimate selections on it,” Trump mentioned, including that whereas he helps electrical automobiles, he additionally favors gasoline-powered autos, hybrids, and different applied sciences.
Trump additionally criticized the Biden administration’s laws that encourage automakers to supply extra EVs and plug-in hybrids to satisfy stricter emissions requirements, arguing that there’s a “a lot smaller market” for EVs attributable to value and battery vary points.
Moreover, Trump introduced plans to discourage exports of autos produced by U.S. automakers in Mexico by imposing new tariffs and stopping Chinese language automakers from constructing vegetation in Mexico to supply autos for the U.S. market.
“Should you put tariffs on these automobiles, they’re going to make it right here,” Trump mentioned. Nonetheless, he expressed help for overseas automakers, together with Chinese language firms, constructing autos inside the US, stating, “We’re going to present incentives, and if China and different international locations wish to come right here and promote the automobiles, they’re going to construct vegetation right here, they usually’re going to rent our employees.”