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

Both Donald Trump and Elon Musk seemed to criticize the Obama Administration for failing to address an import tax disparity between the United States and China.

  • "For example, an American car going to China pays 25% import duty, but a Chinese car coming to the US only pays 2.5%, a tenfold difference,"
  • Both Trump and Musk seemed to criticize the Obama administration for failing to address the import tax disparity.

Tesla CEO Elon Musk responded to a tweet from President Donald Trumpwith a rant about China on Thursday. Hours after Musk's tweets, Trump read one aloud during the signing ceremony for his steel and aluminum tariffs.

Before reading the tweet, Trump praised Musk's space-exploration company SpaceX for doing a "great job" launching its Falcon Heavy rocket in February at Cape Canaveral Air Force Station in Florida.

Musk has faced roadblocks while trying to build a Tesla factory in Shanghai. While Tesla wants complete ownership of its factory, China's central government requires that Chinese companies have at least a 50% ownership stake in car factories built by foreign companies.

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