Canadian lawmaker wants to target Elon Musk in retaliation to Trump's tariffs
Published On Feb 10, 2025, 6:00 PM
Canadian politician Jagmeet Singh proposed retaliatory tariffs on Tesla in response to U.S. tariffs imposed by Donald Trump. Singh stated he would impose a 100% tariff on Tesla vehicles, specifically targeting Elon Musk due to his vocal criticism of Canada. Singh emphasized that Canada would respond firmly to U.S. actions, claiming that 'economic bullying' would not be tolerated. He believes this retaliation could also affect the supply of critical minerals necessary for Tesla's battery production.
Stock Forecasts
TSLA
Negative
The proposed tariffs by Canada on Tesla could lead to increased costs for Tesla vehicles sold in Canada, potentially hurting sales and revenue in that market. Furthermore, tensions between the U.S. and Canada could escalate, impacting investor sentiment towards Tesla and related industries. Investors should be cautious as this geopolitical tension could negatively impact Tesla's stock performance in the short term.
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