American elected President Donald Trump and Elon Musk are watching the launch of a sixth rocket flight of the Spacex Starsship in Brownsville, Texas, November 19, 2024.
Brandon Bell | Via Reuters
President Donald Trump The campaign on the promise that he will stun the tariff on the goods of many best trade partners. Elon Musk Electric vehicles can feel a part of pain.
During the call of Tesla’s earnings on Wednesday, Main Financial Director Vaibhav Taneja said that the company’s profitability could hit if the new administration was conducting tariffs.
“Over the years, we have tried to localize our supply chain in every market, but we still rely on parts from all over the world for all our jobs,” Taneja said. He said that “tariff imposition” would have an impact on our business and profitability. “
President Trump, who returned to the White House last week, weighs tariffs at China, Mexico and Canada in an effort to protect US business interests.
Tariffs were a popular remedy in the first Trump administration, and were used on goods, including solar panels, steel and aluminum. This remained the main conversational spot on the trace of the campaign. The president has announced 60% of Tariffs on China and threatened to Colombia with 25% of Tariff on goods that come to the United States over the weekend
Musk was Trump’s biggest support, inserted $ 277 million into his campaign and a contribution to other Republican candidates. Musk is now governing the Government Efficiency Department (Doge), and many analysts speculate that his tight relationship with the President may benefit from his companies.
Tesla’s shares rose 55% of Trump’s victory in early November. Shares rose another 4% on Wednesday in extended trading although Tesla reported Weaker earnings than expected and revenue for a quarter.
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