More Trump transactional ‘weave’. In September, China’s top electric-vehicle maker BYD Co. stated that it won’t announce a major plant investment in Mexico until at least after the US election, which Trump claimed he caused. Trump has claimed that his tariff proposals stopped the plan, and further claimed that he would have BYD build its plant in the US.
The truth is more about BYD waiting to see who becomes POTUS because Trump supports plans that would ultimately slow the US economy and disrupt domestic battery production and net-zero goals.
"If I'm going to be president of this country, I'm going to put a 100, 200, 2,000 percent tariff."
The Claim
At the rally in Greensboro on October 22, 2024, Trump said: "And because of me I just stopped the largest plant anywhere in the world being built in Mexico owned by China.
"They were going to make cars and they were going to, you know this story came a year ago, they announced 'largest plant in the world' they're going to make cars, sell them into the United States and destroy Detroit, Michigan, and all of Michigan.
"They were going to make more cars in that one plant than all of Michigan makes as a whole, and I said, 'You're not going to do it' and I said, 'You know what? I'm going to run for president and I'm going to put tariffs on that damn plant and you're not going to do it' and I just heard last week they've abandoned the plant because of Trump.
"Because they think we're going to get elected and they say, 'If Trump gets elected we're going to lose our ass and we're not going to do it,' so they decided they're not going to build the plant."
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message incompetence
This kind of rapid growth enabled BYD to overtake American EV pioneer Tesla as the world’s No. 1 electric vehicle company (when counting both its all-electric and its plug-in hybrids) in 2022. It’s now selling twice as many cars as Tesla.
Vice President Kamala Harris is likely to continue the Biden administration’s policy of using tax credits to jump-start a U.S.-based supply chain for EVs and emissions policies to nudge automakers away from internal combustion engines, while also using tariffs to keep Chinese imports off U.S. dealer lots.
Former President Donald Trump, who calls himself “Mr. Tariff,” has proposed astronomical duties to keep Chinese EVs out of the United States. While Trump now says he likes EVs — since Tesla CEO Elon Musk became one of his campaign’s megadonors — he sees them as suitable for only a “small slice” of the public. He has pledged to undo the policies that support domestic production of EVs.
While Trump repeatedly asserts that his approach would save U.S.-based automakers, the opposite is more likely to be true.
Weaker emissions standards and a reduction in incentives from the IRA would mean that the EV and battery factories automakers are currently building would have less local demand for their products. Automakers that sell most of their products in this country would be in the awkward position of managing a slow shift to EVs here while other major markets are moving much more quickly.
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“Forget about what side you’re on,” Jimmy Kimmel said. “I want you to take just take a moment to imagine a world in which you wake up in the morning, you check the news, and no one says the words ‘Donald’ or ‘Trump.’ Just a bunch of normal, boring stuff. Wouldn’t that be nice? No lawn signs. No red hats. No arguing with your grandfather. You check the sports, Al Roker does the weather – off to work you go. Wouldn’t that be wonderful ? Let’s remove this cancerous polyp from our collective national colon and move on already. And don’t forget to vote!”
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