Tesla CEO Elon Musk says if the United States does not slap hefty tariffs on China, the American auto industry will be decimated.
According to CNBC, Musk made the remarks on a Tesla earnings call this week, suggesting that absent U.S. tariffs on China, Chinese automakers like BYD and Nio Inc. “will pretty much demolish” American automakers.
“The Chinese car companies are the most competitive car companies in the world,” Musk said on the call, CNBC reports:
“So, I think they will have significant success outside of China depending on what kind of tariffs or trade barriers are established,” Musk said on Tesla’s earnings call Wednesday. [Emphasis added]
“Frankly, I think, if there are not trade barriers established, they will pretty much demolish most other companies in the world.” [Emphasis added]
