Trump: Willing to offer Musk a cabinet position, or cancel electric vehicle incentives, angrily criticizes Google, has the right to comment on interest rates

Republican presidential candidate Donald Trump said on Monday that if he defeats current Vice President Harris in the November U.S. presidential election, he will offer Tesla CEO Elon Musk a cabinet position or government advisory role. Trump stated in a media interview that if Musk is willing, he will arrange such a position for him.

However, Trump mentioned that he may cancel the $7,500 tax credit for certain new electric vehicles. He bluntly stated that tax credits and incentives are not always a good thing. "I have not made a final decision. I really like electric cars, but I also like gasoline-powered cars, hybrid cars, and other possibilities."

If elected, Trump may take measures to overturn the U.S. Treasury Department's efforts to make it easier for automakers to take advantage of the $7,500 tax credit rule, or he may require the U.S. Congress to completely abolish the tax credit. During his previous term as president, Trump sought to eliminate the tax credit for electric vehicles, but the credit was later expanded by current President Biden in 2022.

Trump also stated that he would rescind the Biden administration's requirements for automakers to produce more electric vehicles and plug-in hybrid vehicles to meet stricter emission standards.

Trump's electric vehicle-related policies may impact Tesla's core electric vehicle business.

In July of this year, Musk announced his support for Trump in the November presidential election.

Last week, Trump had a live conversation with Musk that lasted over two hours. Analysts believe that during the conversation, the two repeatedly affirmed each other while also sticking to their own views, forming a kind of contradictory "intimate" relationship.

During the conversation with Musk, Trump mentioned that even with the promotion of electric vehicles, fossil fuels will remain the primary source of energy for power plants. Tesla's products are great, but that doesn't mean everyone should have an electric car. Trump also mentioned that he is looking forward to Musk installing solar panels on the roofs and trunks of his cars.

On the same day, Trump also harshly criticized Google but refused to disclose whether he believes the company should be broken up. Earlier this month, a U.S. court ruled that Google monopolized the online search market.

When talking about Google, Trump said, "They are almost like the Wild West. They will have to pay a huge price." However, Trump did not elaborate on what kind of punishment Google should face.

In response to criticism from the public about weakening the autonomy of the Federal Reserve, Trump casually stated that he should be able to freely share his views on interest rate policies. He believes he has the right to comment on interest rate policies, but the Federal Reserve is not obligated to follow his advice.

Trump said, "I think the U.S. president can speak. Of course, the president can talk about interest rates. That doesn't mean they (the Federal Reserve) have to listen." Trump mentioned that during his term, he tirelessly persuaded Federal Reserve Chairman Powell on interest rate issues, which may or may not have had an effect.

Trump reiterated his previous argument, "I think I have very good instincts." He said this does not mean he should make decisions, but it does mean he should have the right to discuss it, just like anyone else. Currently, high interest rates have intensified scrutiny of Federal Reserve decisions, while mortgage costs have trapped potential homebuyers