Smothering electric vehicles might have been a regrettable mistake for a Republican to make 10 years ago. Today, it is economic idiocy.
But automakers can’t absorb the cost forever and will soon begin to raise new car prices, analysts say.
A deal designed to force compliance with tougher emissions standards is as risk after the Trump administration intervened.
The company estimated that duties on imported cars and car parts would cost it $2 billion this year.
The agency’s administrator said in a podcast that the move would be “the largest deregulatory action in the history of America.”
Shares in Tesla were down in premarket trading as the carmaker lays out the risks from President Trump’s tariffs and his scrapping of tax credits.
Elon Musk has said that robotaxis are the company’s future, but most revenue still comes from cars.
General Motors was the second auto company this week, after Stellantis, to show the toll that President Trump’s trade policies are taking on the industry.
It is inevitable that America will eventually follow the rest of the world and that in 40 or so years, it will run mainly on sun and wind.
The Commerce Department plans to impose a 93.5 percent levy on Chinese graphite, an essential ingredient in the batteries that power electric vehicles.