Tesla warns tariffs harm its business and future

Tesla has warned the Trump administration that tariffs are harming the company. In a recent unsigned letter, Tesla expressed concern about potential retaliatory tariffs from other countries due to its CEO's close ties to the president. The letter stated that U.S. exporters face significant risks when other nations respond to U.S. trade actions. Tesla noted that previous tariffs have led to increased tariffs on electric vehicles in other countries. Tesla's stock has seen a significant decline recently, with analysts noting the rapid loss of value is unprecedented in the automotive industry.