Tesla Inc. (NASDAQ:TSLA) and SpaceX have both raised concerns about the tariffs, warning that retaliatory measures could harm their respective industries.
The companies, both led by Elon Musk, submitted letters to U.S. Trade Representative Jamison Greer urging consideration of the broader economic impacts when shaping trade strategies, CNBC reports.
What Happened: In its letter, Tesla warned that previous U.S. trade actions had increased costs for vehicles both in the domestic market and abroad, weakening the company’s competitiveness, ABC News reports. Meanwhile, SpaceX highlighted concerns that tariffs on key spacecraft components could …Full story available on Benzinga.com
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