The costs of customs duties “will not be minimal” on Tesla Company

Elon Musk, CEO of Tesla, warned that the additional customs duties that his close ally, Donald Trump, decided to impose on his country’s imports of cars, will have a significant impact on the cost of producing Tesla cars.

“For clarification, this will affect the prices of Tesla auto parts that come from other countries. The cost effect is not small.”

The Musk position came in response to Trump’s decision to impose customs duties by 25% on all his country’s imports and spare parts.

“What we will do is to impose customs duties by 25 percent on all non -manufactured cars in the United States. That manufactured in the United States will not impose any fees,” Trump said in a statement to reporters at the White House. Noting that the recognitions will enter into force on April 2.