Reported 30 days ago
Elon Musk acknowledges the competitiveness of Chinese car manufacturers, which could be affected by Donald Trump's proposed tariffs on imports. If elected, Trump aims to raise tariffs on Chinese automobiles to 60%, significantly higher than current rates, potentially benefiting Musk's Tesla by limiting competition. However, analysts highlight the complexity of tariff impacts on supply chains and costs, pointing out that while increased tariffs could protect domestic industries, they may also raise production costs and provoke retaliation from affected countries, creating uncertainty for companies like Tesla.
Source: YAHOO