UNITED STATES – The Trump administration’s trade war with China backfired for the president’s senior advisor Elon Musk when Tesla was forced to pull two cars from its biggest growth market.
His electric vehicle manufacturer is no longer accepting orders for its premium Model S sedan and sibling Model X crossover. Both built exclusively in California for worldwide export, the duo are subject to the new 125 per cent import duty Beijing slapped on US goods in retaliation for Trump’s own similarly punitive tariff imposed this week.
Sales of the two models are now only possible from the dwindling inventory of vehicles Tesla already shipped from its Fremont plant near San Francisco to Chinese showrooms across the country.
The decision comes as Trump, whom Musk backed in the election with over a quarter billion dollars, ignited a trade war with the entire world that caused markets to tank.
Tesla relies almost exclusively on its Shanghai factory for the Chinese market
Current estimates suggest no more than 2 000 Model S and X units are at risk, a little more than a tenth of one percent of Tesla’s global annual volume. (Fortune)
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