Tesla warns of increased U.S. vehicle production costs
ft.com —
Tesla has warned the Trump administration that retaliatory tariffs could increase production costs for its vehicles in the U.S. The company expressed concerns in a letter, stating that U.S. exporters face significant risks from trade actions. The letter highlights Tesla's ongoing efforts to localize its supply chain while acknowledging challenges in sourcing certain materials domestically. It urges the administration to consider the impact of tariffs on U.S. manufacturers. This communication follows recent trade policy announcements that have unsettled businesses and investors. Tesla's stock has dropped 40% this year amid concerns over sales and broader economic issues.