In an interview with Fox News aired Tuesday, U.S. President Donald Trump stated that it would be "unfair" to the United States if Tesla were to establish a factory in India in order to get around that nation's tariffs.
Tesla Entering The Indian Market
India & Tesla have been in discussion on and off for years now, but Tesla never made a move due to India’s high import tariffs. Right after PM Modi's meeting with President Trump and Elon Musk in Washington last week, Tesla has renewed its interest in India.
The baseline customs tariff on luxury cars over $40,000 has been lowered from 110% to 70%, which is in favour of the EV giant.
Elon Musk's Tesla Inc. took a big step towards its eagerly anticipated debut in the Indian market by advertising 13 positions in Delhi and Mumbai at the beginning of this week.
Also Read: Trump and Modi Announces Launch of U.S.-India TRUST; Both Nations To Work Together On AI & Other Sectors
US President Trump’s Reaction
During the interview with Fox News, US President Trump reiterated his steadfast position on global exploitation of the US through tariffs.
"...every country in the world takes advantage of us, and they do it with tariffs. They make — make it — it's impossible for him to sell a car, practically, in, as an example, India. I don't know if that's true or not, but I think —" President Trump said during the interview.
Musk verified this by saying, "The tariffs are like 100% import duty," to which Trump concurred, describing the tariffs as "so high."
Both Musk and US President Donald Trump have previously voiced their worries regarding India's high import taxes on automobiles.
"Now, if he built the factory in India, that's okay, but that's unfair to the US. It's very unfair," Trump said in the interview about Elon Musk-led Tesla potentially setting up a factory in India.
However, in March, the Indian government announced a new EV policy that significantly reduced import duties to 15% if a carmaker invested at least $500 million and set up a factory.
Also Read: Elon Musk Set To Launch Most Advanced Chatbot ‘Grok 3’, The ‘Smartest AI On Earth’ In Few Hours
‘That’s unfair to the US. It’s very unfair.’- President Trump’s Comment on the Possibility of Tesla Building a Factory in India
US President Donald Trump criticised Tesla for potentially building a factory in India, saying it would be unfair to the US because of high tariffs.
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Elon Musk, PM Modi, President Trump
In an interview with Fox News aired Tuesday, U.S. President Donald Trump stated that it would be "unfair" to the United States if Tesla were to establish a factory in India in order to get around that nation's tariffs.
Tesla Entering The Indian Market
India & Tesla have been in discussion on and off for years now, but Tesla never made a move due to India’s high import tariffs. Right after PM Modi's meeting with President Trump and Elon Musk in Washington last week, Tesla has renewed its interest in India.
The baseline customs tariff on luxury cars over $40,000 has been lowered from 110% to 70%, which is in favour of the EV giant.
Elon Musk's Tesla Inc. took a big step towards its eagerly anticipated debut in the Indian market by advertising 13 positions in Delhi and Mumbai at the beginning of this week.
Also Read: Trump and Modi Announces Launch of U.S.-India TRUST; Both Nations To Work Together On AI & Other Sectors
US President Trump’s Reaction
During the interview with Fox News, US President Trump reiterated his steadfast position on global exploitation of the US through tariffs.
Musk verified this by saying, "The tariffs are like 100% import duty," to which Trump concurred, describing the tariffs as "so high."
Both Musk and US President Donald Trump have previously voiced their worries regarding India's high import taxes on automobiles.
However, in March, the Indian government announced a new EV policy that significantly reduced import duties to 15% if a carmaker invested at least $500 million and set up a factory.
Also Read: Elon Musk Set To Launch Most Advanced Chatbot ‘Grok 3’, The ‘Smartest AI On Earth’ In Few Hours