Former President Donald Trump says he might not support Elon Musk due to their conflicting stances on electric cars. Notably, this is a subject Trump consistently criticizes at his campaign rallies. When asked whether he expects to receive either verbal or monetary backing from Musk, Trump discussed his recent meeting with Musk at Mar-a-Lago.
“I don’t know,” Trump stated in a call interview on CNBC’s “Squawk Box.” “I’ve been friendly with him over the years. I’ve helped him when I was president.” Trump continued, “I helped him. I’ve liked him. We have opposing views on a minor subject called electric cars.”
He added, “I’m all for electric cars, but you have to have all of the alternatives. Also, you can’t just go to electric. I mean, you have a grid system in this country that’s obsolete and a disaster,”
Trump’s Criticism of Electric Cars
Trump’s frequent criticism of electric car technology is beyond mere disagreement on battery range, charging inconveniences, and cold weather challenges. Despite manufacturers actively focusing on electric vehicles, Trump remains vocal about perceived shortcomings.
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People speculated that Musk could be a significant financial supporter of Trump. However, this comes at a crucial time for the former president, who faces substantial personal financial strains. Recently, he reportedly had to rely on a lender to cover a $91.6 million bond following a judgment in the E. Jean Carroll defamation case.
Moreover, a judge’s order in his New York fraud case demands that he come up with $450 million within weeks.
Musk’s Critique of Biden’s Immigration Policy Aligns with Trump’s Campaign
Recently, Musk’s online posts criticizing President Joe Biden’s U.S. immigration policy have caught attention. This is particularly serious as the issue remains central to Trump’s campaign agenda. In a tweet following their meeting, Musk stated, “Just to be super clear, I am not donating money to either candidate for U.S. President.”
Trump Seeks Musk’s Involvement
According to CNBC, Trump and his advisors are pushing for Musk to deliver a speech at the Republican National Convention in Milwaukee. Musk’s companies enjoy substantial government contracts. This is particularly true as SpaceX and Tesla highlight the intertwined relationship between Musk’s business ventures and governmental policies.
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SpaceX, for instance, relies heavily on government contracts for its space exploration endeavors. Additionally, Tesla’s brand is influenced by U.S. clean energy subsidies and policies promoting charging stations and advancing battery technology manufacturing.
Trump’s Shift on Cryptocurrency
In an interview, Trump hinted at his engagement in cryptocurrency trading. The revelation was a notable departure from his previous characterization of cryptocurrencies as “seeming like a scam” in 2021. Despite previously professing his faith in the U.S. dollar, Trump acknowledged the growing cryptocurrency world.
“Well, It’s taken on its own life,” Trump said during the interview. “You know, I do little things sometimes for fun and, you know, make money with it and have fun with it, too.”
A Branded Merch
Trump highlighted the growing trend of purchasers using cryptocurrency to acquire Trump-branded sneakers, expressing astonishment at the substantial volume of transactions conducted in this manner. “I noticed that so many of them were paid for with a new currency… you know, cryptocurrency, and I couldn’t believe the amount,” Trump said.
Furthermore, Trump signaled his reluctance to support any crackdown on cryptocurrency usage. “I have seen there has been a lot of use of that. And I’m not sure that I’d want to take it away at this point,” he stated.
Trump Advocates for Tariffs Amid Inflation Issues
Trump addressed the potential inflationary effects of his proposed 10 percent tariffs. He noted the apprehension but expressed confidence in implementing mitigating policies. Reflecting on his presidency’s imposition of tariffs on China, Trump believes tariffs are a means of rectifying what he sees as unfair trade practices. Notably, Trump’s impositions are still effective.
“I think taxes could be cut, and I think other things could happen to more than adjust that. But I’m a big believer in tariffs,” Trump stated. He also believes tariffs could complement other policy measures to counteract inflationary pressures.
Despite criticisms and concerns, Trump stands his ground on tariffs, emphasizing his commitment to addressing perceived imbalances in trade relations with China.
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