Tesla CEO Elon Musk Says China Is 'Awesome' After Biden Escalates EV Tariff Battle: 'Those Who Have Not Visited Have No Idea'
Portfolio Pulse from Anan Ashraf
Tesla CEO Elon Musk praised China's manufacturing and infrastructure capabilities following the U.S. decision to quadruple tariffs on Chinese electric vehicles (EVs). The Biden administration imposed a 100% tariff on Chinese-made EVs and additional tariffs on EV batteries and critical minerals, aiming to protect American automakers.
May 15, 2024 | 11:38 am
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Tesla CEO Elon Musk praised China's manufacturing capabilities amid new U.S. tariffs on Chinese EVs. The 100% tariff on Chinese-made EVs and additional tariffs on EV batteries could impact Tesla's supply chain and costs.
The new tariffs on Chinese EVs and related components could increase Tesla's costs and disrupt its supply chain, potentially impacting its profitability and stock price in the short term.
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