Tesla has expressed concern that President Donald Trump’s tariffs are significantly affecting its operations. The electric vehicle giant announced its first annual sales decline and a 71 percent drop in profit compared to the previous year. Tesla’s executives sent an anonymous letter to the Office of the United States Trade Representative (USTR) stating their worry about the ‘disproportionate impacts’ on their financial performance. The letter mentions Tesla’s efforts to localize its supply chain in the US but notes that sourcing certain parts domestically is difficult or impossible. It also warns about retaliatory tariffs from targeted countries affecting Tesla’s imports. This situation adds to the challenges Tesla faces, including slumping sales and potential cuts to EV tax incentives. — news from Futurism
