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President Trump’s announcement of the new tariff is groundbreaking. Until now, U.S. tariffs on imported vehicles hovered around 2.5%. With this new measure set to take effect on April 2nd, the industry is bracing for immediate consequences, particularly for companies that have traditionally relied on foreign manufacturing.
Elon Musk and Tesla executives have shared their reactions to the announcement. Musk acknowledged the potential price increases on vehicle parts sourced from other nations, indicating the tariff's impact is not trivial. He emphasized that while Tesla could benefit significantly due to its U.S.-based manufacturing, the company is still not exempt from the tariff effects.