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

Elon Musk tweets Trump on US–China trade rules: It's like racing with “lead shoes”

Trump attacks PRC auto duties

In a series of tweets before a scheduled announcement from the White House on Thursday about new tariffs on steel and aluminum, Tesla CEO Elon Musk suggested to President Trump that the USA should seek more "equal & fair" trade rules for cars with China.

"I am against import duties in general, but the current rules make things very hard", Musk said in another post.

Tesla Inc.'s Elon Musk just engaged in a little lobbying-by-tweet after months of battling Chinese government officials over terms to build a factory in the country.

The award "locks in unprecedented high pay opportunities for the next decade, and seemingly limits the board's ability to meaningfully adjust future pay levels in the event of unforeseen events or changes in either performance or strategic focus", ISS said on Thursday.

The Shanghai Municipal Commission of Commerce did not immediately respond to calls and faxed requests for comment.

China has said it will look to lower import taxes for cars and carry out a pilot scheme to loosen foreign ownership rules for new energy vehicles, a term China uses to refer to fully-electric and plug-in hybrid cars. Hours after Musk's tweets, Trump read one aloud during the signing ceremony for his steel and aluminum tariffs.

Late Thursday, Musk struck a more hopeful tone.

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She added, "I want to thank my fans because even when I'm wrong they be like she's still right", before she called out to her haters.

The tweets came one day after Trump wrote that his administration had asked Beijing to cut the annual US trade deficit by $100 billion (though his tweet mistakenly listed the amount at $1 billion).

Tesla shares were down half a per cent at $327.25 after markets closed on Thursday.

He added that "when China or another country charges us 50 percent tariffs - more than that in some cases - and we charge them nothing, that's not fair".

"I don't know if you saw last-with Elon-with the rocket boosters where they're coming back down", Trump told reporters.

Trump and Musk have a rocky history.

"For example, an American auto going to China pays 25% import duty, but a Chinese vehicle coming to the U.S. only pays 2.5%, a tenfold difference", the tweet read.

But when Trump read Musk's tweets during a press event, he said that "at some point", the President was likely to enforce what he called a "reciprocal or mirror tax", where he would match the tariffs China has put on U.S. imports. The Tesla chief executive officer served on two White House advisory councils before stepping down in June after the president announced he would pull the USA out of the Paris climate accord.

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