The EV maker joins other industry players in complaining that the escalating trade war risks rising costs, production delays, red tape and higher consumer prices.
Tesla, run by Donald Trump cheerleader Elon Musk, has warned US officials it risks being exposed to „disproportionate“ retaliatory tariffs under the president’s escalating trade war.
The electric carmaker raised the issue in a letter to the US Trade Representative’s (USTR’s) Office on the same day Mr Trump bought a Tesla car in a show of support for his close ally after a bloodbath for the company’s shares.
Investor concerns, mostly linked to the trade war, have pushed Tesla’s market value 50% down from its December peak – a hit of roughly £800bn.
The backlash against the trade war intensified this week when Tesla suffered its worst daily loss in five years as part of broader stock market falls on fears that US consumers and businesses are now facing the prospect of a recession.
The declines at Tesla were also linked by market analysts to domestic anger over Mr Musk’s work in government to shrink its size through leadership of the so-called Department of Government Efficiency.
