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Donald Trump, former President of the United States and Republican presidential candidate. EPA=Yonhap News
Former U.S. President and Republican presidential candidate Donald Trump hinted on the 19th (local time) that he could eliminate the tax deduction benefit of $7,500 (approximately 101.8 million won) provided when purchasing electric vehicles in the United States upon his return to power, as reported by Reuters.
According to Reuters, Trump mentioned the possibility of abolishing the tax deduction for electric vehicles under the Inflation Reduction Act during an interview after campaigning in Pennsylvania that day, calling it a “laughable thing.” He also said, “Tax deductions and tax incentives are generally not very good things.”
If the tax deduction benefit for electric vehicles is eliminated in the United States, it is expected to have a direct impact on electric vehicle sales and also negatively affect the domestic secondary battery industry.
In addition, Trump suggested the possibility of appointing Elon Musk, CEO of Tesla, a U.S. electric vehicle manufacturer, as a cabinet member or advisor if he successfully returns to power, saying, “If he wants to…” Despite being critical of the Biden administration’s electric vehicle favoritism policy, Trump has maintained a relationship with Musk, who publicly supported him, and even recently conducted an online dialogue.
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