Canada Proposes Retaliatory Tariffs That Would Deal a Devastating Blow to Tesla

Due to Donald Trump’s questionable policies, the United States is currently engaging in a trade war with numerous countries. Among those countries is Canda, on which Trump imposed a 25% tariff increase, citing drug- and immigration-related issues. Of course, Canada has already responded, but there are some hints that the war could escalate.
After Trump hinted at further tariff increases, it seems that Canada is also ready to continue this “fight,” and by the looks of it, the auto industry – or, more specifically, Elon Musk – might suffer the biggest hit there.
Namely, based on the reports from the media, Canada’s Liberal Party Prime Minister candidate Chrystia Freeland has just proposed a 100% tariff on all Tesla cars coming from the United States, which would deal a massive blow to Musk’s company.
We know that Tesla sales outside the U.S. are significantly decreasing, and we also know that Canada has decided to cancel a CA$100m (US$69.6m) contract with internet satellite company Starlink, which means that such a massive tariff increase would be an even bigger hit for the company, which is already experiencing losses all around the world.
But, while it is debatable how much damage Musk will take from this, Tesla owners and potential owners from Canada would likely suffer the most if these tariffs ever become a reality. Yes, Canadians are boycotting American products, as some media are reporting, but fans of Tesla would still experience significant issues.
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