Trump’s Tesla U-turn is not the product of an economically literate president, it is the product of a paranoid one, writes Eliot Wilson

Last week, in a touching, almost paternal act of solidarity with his cost-cutting billionaire ally Elon Musk, President Trump purchased a cherry-red Tesla Model S (list price starts at $74,990). He declared it “beautiful”, though admitted he would not be able to drive it himself: the secret service does not allow current or former presidents to drive on public roads as a matter of security.

Trump takes a U-turn in EV

The President was motivated to make this public demonstration as “a show of confidence and support for Elon Musk, a truly great American”. Recently I wrote about the collapse in Tesla sales in Europe, partly a reaction against Musk’s political activities, but it represents a deeper problem. The company has lost $800bn from its share value since December, and there are widespread campaigns by those who dislike Musk’s Washington........

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