Former President Donald Trump outlined his potential policies if elected in 2024 in a recent interview with Reuters. The Republican candidate’s comments suggest a shift in approach to technology and automotive sectors, with implications for both domestic and international markets.
In a surprising twist, the former President also mentioned he would consider naming Tesla CEO Elon Musk to a cabinet or advisory role, calling him “a very smart guy” and “brilliant.” This comes on the heels of Musk’s recent public endorsement of Trump’s presidential bid.
The Trump Musk Alignment
Trump expressed skepticism about the current $7,500 tax credit for electric vehicle purchases. He stated that “tax credits and tax incentives are not generally a very good thing.” While not committing to a final decision, he hinted at potentially ending or scaling back the credit.
However, the former U.S. President expressed openness to foreign automakers, including Chinese companies, building plants and creating jobs within the United States.
On the tech front, Trump criticized Google harshly but stopped short of calling for the company’s breakup. He also touched on the TikTok controversy, suggesting that a ban might be challenging due to free speech concerns.
There weren’t any comments on the crypto angle, but we all know how involved Musk is with the crypto community and his love for DOGE. As Trump has positioned himself as the ally of cryptocurrencies, we can also see Musk fill the role of a Cabinet Member in charge of Crypto.
With the election still months away, these policy positions are likely to change in the coming days.
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