Tesla boss and Donald Trump’s close confidant Elon Musk has spoken about the new auto tariffs announced by the US President. In a comment on X, a social media platform that he owns, Musk said that Tesla will also be impacted by the new levies on cars manufactured outside the US. “Important to note that Tesla is NOT unscathed here,” Tesla CEO said. He also said that “the tariff impact on Tesla is still significant.”
The statement come after Trump announced a 25% levy on imported cars and light trucks. The new auto tariffs will come into effect from next. Canadian PM Mark Carney has also called ‘direct attack’. He said that Canada will defend its workers in the wake of the auto tariffs.
In a statement released by the White House, Trump said that 25 percent tariff will be levied on all cars that are not manufactured in the US. The US President views the tariffs as a critical policy tool to increase revenue. Trump has been calling April 2 as 'liberation day,' the date form which the reciprocal tariffs will come into force.
The latest round of tariffs hitting the auto markets are based on a national security probe that was conducted in 2019. The investigation on auto imports was carried out during first stint in the White House. The national security investigation was done under Section 232 of the Trade Expansion Act of 1962. This Cold War-era trade law was earlier used to slap 25 percent tariffs on aluminum and steel imports in 2018.
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