Tesla shares are trading a lower after Prime Minister Trudeau announced a 100% EV tariff on China. Vehicle identification codes show that Model 3 compact sedans and Model Y crossovers were being exported from Shanghai to Canada.
Portfolio Pulse from Benzinga Newsdesk
Tesla shares are trading lower following Prime Minister Trudeau's announcement of a 100% EV tariff on China. This impacts Tesla as Model 3 and Model Y vehicles are exported from Shanghai to Canada.
August 26, 2024 | 6:51 pm
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Tesla shares are affected by Canada's 100% EV tariff on China, as the company exports Model 3 and Model Y vehicles from Shanghai to Canada.
The 100% EV tariff imposed by Canada on China directly impacts Tesla, as it exports Model 3 and Model Y vehicles from its Shanghai factory to Canada. This could lead to increased costs and reduced competitiveness for Tesla in the Canadian market, negatively affecting its stock price in the short term.
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