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Posted On: 11/06/2024 8:00:27 AM
Post# of 13011
https://www.reuters.com/world/us/how-trumps-s...024-11-06/
Musk is also a big proponent of carbon-free energy, with Tesla being a major supplier of solar systems and batteries. Trump has promised to kill the offshore wind industry and rescind all unspent funds under the Inflation Reduction Act – Biden’s signature climate law. But Trump faces dissent in his ranks: Republican lawmakers, oil companies and others see massive red state gains from the law. Musk has played into that, building his second U.S. electric vehicle factory in Texas, for instance.
TARIFFS
Trump has proposed a 10% tariff on all U.S. imports and 60% on Chinese-made products, which if enacted would affect the whole economy by pushing consumer prices higher. The Tax Foundation, a non-partisan think tank, calculated Trump tariffs would hike taxes by $524 billion annually, shrink GDP by at least 0.8%, and cut employment by 684,000 full-time equivalent jobs potentially impacting retail workers, the largest private sector employer. He also suggested he might impose a 25% tariff on all imports from Mexico
Elon Musk bet big on Trump. Here’s what he stands to gain — and lose — from his win
https://www.cnn.com/2024/11/06/business/elon-...index.html
Musk is also a big proponent of carbon-free energy, with Tesla being a major supplier of solar systems and batteries. Trump has promised to kill the offshore wind industry and rescind all unspent funds under the Inflation Reduction Act – Biden’s signature climate law. But Trump faces dissent in his ranks: Republican lawmakers, oil companies and others see massive red state gains from the law. Musk has played into that, building his second U.S. electric vehicle factory in Texas, for instance.
TARIFFS
Trump has proposed a 10% tariff on all U.S. imports and 60% on Chinese-made products, which if enacted would affect the whole economy by pushing consumer prices higher. The Tax Foundation, a non-partisan think tank, calculated Trump tariffs would hike taxes by $524 billion annually, shrink GDP by at least 0.8%, and cut employment by 684,000 full-time equivalent jobs potentially impacting retail workers, the largest private sector employer. He also suggested he might impose a 25% tariff on all imports from Mexico
Elon Musk bet big on Trump. Here’s what he stands to gain — and lose — from his win
https://www.cnn.com/2024/11/06/business/elon-...index.html
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