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Tesla Hammered Hardest by Fear China Will End Car-Tariff Respite

  • Auto manufacturers index slumps on escalation of trade war
  • General Motors, Ford and Germany’s BMW and Daimler all drop
Bloomberg business news
Tech Will 'Definitely' Get Hit by Trade War, Says HSBC's Laidler
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The re-escalation of the U.S.-China trade war is hitting Tesla Inc. shares hardest among major automakers, with investors betting it won’t be long before cars crossing the two countries’ borders are again subject to bigger tariffs.

Tesla plunged as much as 6.3% to $224.50, the lowest intraday since January 2017, after China defied U.S. President Donald Trump by announcing plans to raise duties on $60 billion worth of American imports starting June 1.