Tesla Stock Price Hits Low Trump Ally Said Wouldn’t Happen
Tesla’s stock price dropped to a point that Secretary of Commerce Howard Lutnick said would “never” happen last month amid concerns about President Donald Trump‘s latest round of tariffs.
Newsweek reached out to Tesla and the Department of Commerce (DOC) for comment via email.
Why It Matters
Trump last week announced new tariffs on dozens of countries across the globe. He says the tariffs are aimed at closing the U.S. trade deficit and restoring domestic manufacturing, but economists have warned they will likely lead to higher priced consumer goods for Americans.
Markets reacted negatively to the news of Trump’s tariffs. The Dow Jones Industrial Average tumbled about 9 percent since last Wednesday, while JP Morgan has warned there’s a…
