President Trump abruptly announced on Wednesday that he would pause big hikes on tariffs for most countries for 90 days, except for China.
President Trump abruptly announced on Wednesday that he would pause big hikes on tariffs for most countries for 90 days, except for China.
And somehow Tesla stock is up 20% and I’m pretty sure that they are dependent on imports from China for … something, batteries? Only the most expensive component of the car?
Investors could be counting on that recent survey of the Salton rare earth deposit.
Or the market could just be as irrational as it always is. Personally I’m going with that one.
No replacement mines will be running before at least 2026
Tesla makes a lot of its own batteries, and some from CATL in China. When Biden changed the EV tax credit to only cover cars with US batteries, Tesla was one of the few that could meet it immediately.
Raw materials mostly do not come from the US, though.