President Donald Trump President’s trade war to Canada, Mexico, and China not only pays the price of American consumers, but also can pay one of his closest allies: Elon Musk. The two companies owned by Musk relied on the global supply chain, and both SpaceX and Tesla (TSLA) may be retaliated by tariff impact countries. The impact of Trump’s proposal tariffs has scared Tesla’s investors, and the investor’s shares today fell more than 6 % (February 3).
Trump’s proposed measures on February 1 include 25 % tariffs on Mexico and Canada, 10 % tariffs on Canadian energy resources, and 10 % tariffs imported from China. The fee will be effective tomorrow (February 4), and the tariffs of Mexico will be suspended within one month for negotiations.
To cope with Trump’s tariffs, Canadian Prime Minister Justin Trudeau announced tomorrow that a 25 % tariff of $ 30 billion in goods imported from the United States tomorrow. Canada plans to increase tariffs on value imports worth US $ 85 billion. In 2023, Canada imported about $ 332 billion in goods from the United States, and exported to the country with $ 406 billion in goods.
Tesla Auto 100 % Tariff?
Some local officials are taking revenge measures. Ontario Prime Minister Doug Ford announced on X today that he will “tear” the province’s $ 68 million contract with SpaceX’s Starlink contract. SpaceX’s Starlink is a satellite -based Internet service. The transaction was reached in November to provide high -speed Internet access to rural, remote and northern communities.
Ford said in X’s post: “From today to the withdrawal of US tariffs, Ontario prohibits US companies from being exempted from provincial contracts.” He added that the province will not start with those who are interested in “destroying our economy”. business.
“Oh, okay,” Musk responded in the X post.
The close connection between Musk and Trump made him a strategic goal of the trade war. Former Canada Deputy Prime Minister Christia Freland proposes 100 % tariffs on Tesla Vehicles and American alcohol. In an interview with the Canadian media on January 31, Freland said: “We need to carefully study who is supporting Trump and how we make them pay for the Canadian tariff attack.” Trudeau is the Liberal Leader.
Tesla, like other car companies, relies heavily on global imports. In the company’s recent quarterly income telephone, Tesla Chief Financial Officer Vaibhav Taneja acknowledged that tariffs might hurt car manufacturers. Taneja told analysts: “Over the years, we have tried to localize our supply chain in every market, but we still depend on all businesses around the world.” Therefore, the acquisition of tariffs will be “our business and profitability to our business and profitability Ability has an impact. “
According to the documents of the National Highway Traffic Safety Administration, 60 % to 75 % of its components from the 2025 model of Tesla from the United States and Canada, while 20 % to 25 % from Mexico. Tesla also relies on the battery component required by Chinese companies’ electric vehicles.
The President claims that the initial response to Trump’s tariffs was to combat illegal immigrants and drug smuggling, which also led Mexico to aversion tariffs. China threatened to target US legal cases against the United States in the World Trade Organization. Essence
In an article about the truth about his social platform, Trump responded to Canada’s retaliation proposal, claiming that it “no longer exists” a feasible country without US subsidies. Therefore, Canada should be the 51st state we cherish. The tax is low, and the military protection of the Canadian people is better and no longer tariff! “Trump said.
