Donald Trump on EVsInteresting how the US press reports Trump statements.
In a speech about the auto industry he said he would raise the tariifs on imported EVs and said that if Biden gets in, it would be a bloodbath (for the auto industry - since that was what he was talking about)
The press?
Out of context said Trump was calling for a bollodbath and linking it to Jan 6th!! They have no morals!!
So what is Trump talking about?
The Chinese auto makers are cutting a deal with Mexico to use cheap Mexican labour to make EVs in Mexico and those cars under the trade agreement can be imported into the US tarrif free. Cheap (in both/all senses of the word) Chinese cars from Mexico could result in a lot of EVs being bought in the US and killing the US auto industry.
Implications for the oil industry?
Well we will see. Thinking shareholders of SU will be hoping for a Trump vistory in November.
Implications for investments in general?
Same as above...