“Tesla is NOT unscathed.” Musk responds to Trump’s 25% tariff hike
Musk confirmed that the tariff increase will significantly affect his electric car company Tesla.
Musk confirmed that the tariff increase will significantly affect his electric car company Tesla.
«It is important to note that Tesla is NOT unscathed. The impact of tariffs on Tesla is still significant,» Musk wrote on X, responding to a social media user who noted that the latest auto tariffs imposed by US President Donald Trump will affect several automakers.
On Wednesday, March 26, Trump imposed a 25% tariff, which he announced on February 18, on all vehicles not manufactured in the United States. The innovation is scheduled to take effect on April 2.
In his post, the user shared information about cars sold in the US that were manufactured in:
- Tesla: 100% USA;
- Ford: 77% US, 21% Canada and Mexico, 2% other;
- Stellantis: 57% US, 39% Canada and Mexico, 4% other;
- Nissan: 52% US, 31% Canada and Mexico, 17% other;
- GM: 52% US, 30% Canada and Mexico, 18% other;
- Toyota: 48% US, 27% Canada and Mexico, 25% other;
- Kia: 33% US, 8% Canada and Mexico, 59% other;
- Volkswagen: 21% US, 43% Canada and Mexico, 36% other.
«About 40% of all new cars sold in the US are imported, so this tariff is a big problem,» user X said in a post.
Furthermore, he added that if the 25% tariff remains in place for a long period, it will be difficult for used car manufacturers to adapt quickly, leading to a significant decline in profits.
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