Elon Musk’s electric vehicle company Tesla has voiced concerns over retaliatory tariffs resulting from a trade war fueled by President Trump. In a letter to the U.S. trade representative, Tesla warned that Trump’s actions could harm U.S. companies. Trump’s recent tariffs on goods from Canada and Mexico have triggered fears of price hikes and supply chain disruptions. Tesla’s letter emphasized the potential negative impacts of such trade actions on domestic manufacturing and exports of electric vehicles. Despite Musk’s close relationship with Trump, the company expressed its concerns about the potential negative consequences of the tariffs. Tesla’s stock received a boost after Trump purchased a new Model S at the White House, closing at nearly 4% higher at $249.98. Some Tesla owners have protested Musk’s political actions by selling their vehicles or adding anti-Musk bumper stickers. The letter highlighted the significant contribution Tesla makes to the U.S. economy, supporting over 70,000 employees and billions of dollars in economic activity. Tesla also warned about potential supply chain issues resulting from trade policies. Autos Drive America, a trade group representing foreign automakers, echoed similar concerns about tariffs disrupting production and increasing prices for consumers. Tesla’s letter highlights the potential negative impacts of a trade war on American businesses and the need for careful consideration of trade policies to support domestic manufacturing.
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