Donald Trump and Elon Musk are slamming Obama's trade deficit (TSLA)

Posted March 10, 2018

Musk used a tweet President Donald Trump wrote on Wednesday about the United States' trade deficit with China as an opportunity to air his frustrations with China's policies toward foreign automakers and ask if the Trump Administration will address them. Musk clarified that he meant "equal & fair rules" like "same import duties, ownership constraints and other factors". It´s like competing in an Olympic race wearing lead shoes'. There is no exact arrival date for the said vehicle technology though Musk previously announced that it will be released sometime in early 2018, meaning it may be just around the corner.

"Just want a fair outcome, ideally where tariffs/rules are equally moderate", Musk tweeted. On Twitter, Musk complained this was unfair since there are "five 100 (per cent) China-owned EV auto companies in the US". "Nothing more. Hope this does not seem unreasonable".

Baillie Gifford & Co. and T. Rowe Price, which together hold a 14% stake in Tesla, told Bloomberg News they plan to vote in favor of a $2.6 billion compensation package for Musk proposed by the company's board.

Rather than sparring with officials or paying steep tariffs to sell cars in the world's largest automotive market, most established automakers have complied with China's regulations and formed one or more 50:50 joint ventures with local automakers.

The said new technology for Tesla cars are being hailed by Musk himself as cutting-edge and quite possibly more advanced than any existing system.

China levies a 25 percent duty on sales of imported vehicles.

China said a year ago it would gradually reduce its auto import tariffs. Musk said that the high tariffs on cars imported to China, as well as manufacturing rules in the Asian country, have made things "very difficult" for the company.

The first cargo delivery performed by a Tesla Semi Truck has reportedly now taken place, going by posts on Tesla CEO Elon Musk's social media pages, with battery transport between the Gigafactory in Sparks, Nevada, and the Fremont, California, production plant now being partly handled by the firm's own semi trucks. Musk previously served on Trump's advisory council.