Tesla shares dropped 5% Monday, following President Donald Trump's announcement of new import tariffs from Canada, Mexico, and China. The stock also faced pressure from falling registrations in key European markets. Trump's 10% tariff on Chinese imports impacted Tesla, which produces about half its vehicles in China. CFO Vaab-hav Ton-age-ah warned last week that tariffs could hurt Tesla’s profitability, despite efforts to localize supply chains. Over the weekend, Tesla cut lease prices on the Model 3 and Cybertruck.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla shares dropped 5% Monday following President Donald Trump's announcement of new tariffs on
00:07imports from Canada, Mexico and China. The stock also faced pressure from falling registrations
00:13in key European markets. Trump's 10% tariff on Chinese imports impacted Tesla, which produces
00:18about half of its vehicles in China. CFO Vabhav Tanaja warned last week that tariffs could hurt
00:24Tesla's profitability despite efforts to localize supply chains. Over the weekend, Tesla cut lease
00:29prices on Model 3 and Cybertruck. For all things money, visit Benzinga.com slash GSTV.