By YORK, Pa. — Former President Donald Trump, in a wide-ranging interview with Reuters on Monday, outlined potential economic and technology policies he would pursue if re-elected, including ending electric vehicle tax credits and naming Tesla CEO Elon Musk to an advisory role.
Speaking after a campaign event in York, Pennsylvania, Trump expressed skepticism about the $7,500 tax credit for electric vehicle purchases. “Tax credits and tax incentives are not generally a very good thing,” Trump said when asked about the EV credit.
The former president, who is seeking the Republican nomination for the 2024 presidential race, did not commit to a final decision on the tax credit. “I’m not making any final decisions on it,” Trump stated. “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.”
Trump’s stance on EV tax credits marks a potential reversal of current policies. If elected, he could take steps to overturn Treasury Department rules that have expanded automakers’ ability to utilize the $7,500 credit. Alternatively, he could ask Congress to repeal the credit entirely. During his previous term, Trump had sought to eliminate the EV tax credit, which was later expanded under President Joe Biden’s administration in 2022.
The former president also expressed openness to naming Elon Musk, CEO of Tesla and SpaceX, to a cabinet or advisory position. “He’s a very smart guy. I certainly would, if he would do it, I certainly would. He’s a brilliant guy,” Trump said. Musk publicly endorsed Trump for the presidency last month. Tesla did not immediately respond to a request for comment on Trump’s statement.
Regarding the auto industry, Trump outlined plans to discourage vehicle exports from Mexico to the United States by imposing new tariffs. He aims to prevent Chinese automakers from building new plants in Mexico for U.S. market vehicles, reiterating similar threats made during his presidency.
“If you put tariffs on those cars, they’re going to make it here,” Trump asserted. “It’s very simple. It’s not complicated. If you tell Mexico, ‘look, you’re stealing our car industry,’ which they’re doing now.”
However, Trump expressed openness to foreign automakers, including Chinese companies, 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. “We will make our own cars. I want to make our own cars.”
On technology issues, Trump harshly criticized Alphabet’s Google but did not specify whether he believed the company should be broken up following a recent court ruling that Google maintained an illegal monopoly. “They’re almost like the Wild West,” Trump said, without elaborating on potential penalties. “They’re going to have to pay a great price.”
Regarding TikTok, Trump reiterated his stance against banning the short video app, despite a law approved in April that sets a January 19, 2025 deadline for Chinese owner ByteDance to divest TikTok’s U.S. assets. When asked about continued Chinese ownership of TikTok, Trump did not directly answer but suggested ByteDance might sell.
“It’s very hard to ban something like that, because you’re talking about free speech,” Trump said. “You’re talking about a lot of different things go into that equation, but TikTok has treated me very well.”
Trump’s comments come as he continues to lead in polls for the Republican presidential nomination, despite facing multiple legal challenges. His policy proposals signal potential significant shifts in U.S. economic and technology policies if he were to win a second term in office.
As the 2024 presidential race continues to take shape, Trump’s statements on these issues are likely to be closely scrutinized by voters, industry leaders, and policy experts for their potential impact on the U.S. economy and international trade relations.
