Elon Musk’s electric car company Tesla has expressed concerns that US trade tariffs could harm US exporters, as countries retaliate against the measures. In an unsigned letter to the US trade representative, Tesla stated that while it supports fair trade, it is worried that US exporters could face “disproportionate impacts” if countries implement retaliatory tariffs.
Despite being a close ally of US President Donald Trump, Tesla is taking steps to reduce its reliance on foreign markets by finding local suppliers for its cars and batteries. However, it warns that certain parts and components may be difficult or impossible to source within the US.
China, Tesla’s second-largest market, has already responded to the additional 20% tariff imposed by the US on imports from China with retaliatory levies on cars. Meanwhile, the EU and Canada have threatened similar measures in retaliation for tariffs on steel and aluminum imports.
Demonstrators have targeted Tesla showrooms in recent weeks in protest against Musk’s role in Trump’s administration. During a White House event, Trump defended Tesla and threatened to label protesters as domestic terrorists. He also announced his plan to buy a Tesla as a show of support for Musk.
Source: https://www.bbc.com/news/articles/c201z4lv5xxo
