‘Tesla is NOT unscathed here’: Elon Musk highlights impact of Donald Trump’s 25% auto import tariffs

INA-  sources


With the latest tariffs imposed on auto imports, the world's richest man, Elon Musk, has confirmed that his EV maker company, Tesla, will be impacted significantly.
On Wednesday, US President Donald Trump signed an executive order to impose a 25 per cent tariff on automobiles made outside the US, which will go into effect on April 2. These tariffs aim to "strengthen America's manufacturing industry " and are projected to generate $100 billion in revenue.

What did Elon Musk say?

“Important to note that Tesla is NOT unscathed here. The tariff impact on Tesla is still significant,” Musk wrote on X.

Impact of auto tariffs on companies

Tesla owner's statement comes after a user on X highlighted how the latest auto tariffs imposed by US President Donald Trump will affect several automakers.


“About 40% of all new cars sold in the US are imported, so this tariff is a big deal,” the post read.
The user shared a breakdown of carmakers in the US and the share of their goods sold across the globe.

This is a breakdown of where cars sold in the US are made:

• Tesla: 100% U.S.

• Ford: 77% US, 21% Canada & Mexico, 2% Other

• Stellantis: 57% US, 39% Canada & Mexico, 4% Other

• Nissan: 52% US, 31% Canada & Mexico, 17% Other

• GM: 52% US, 30% Canada & Mexico, 18% Other

• Toyota: 48% US, 27% Canada & Mexico, 25% Other

• Kia: 33% US, 8% Canada & Mexico, 59% Other

Impact on legacy automakers
The user further highlighted that the legacy automakers will struggle to adapt immediately in response to the tariffs and, hence, will see a decline in profits.

“The United States is the most profitable country for the auto industry. Trump said this new tariff will be permanent, so it will be interesting to see how this plays out and whether the tariff sticks around or not,” the post read.




source: mint