Elon Musk's Tesla is one of the few companies that have benefited from US President Donald Trump's introduction of tariffs on cars, Bloomberg writes.
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What is known
Trump's planned tariffs on auto imports will hurt automakers around the world and drive up prices for U.S. consumers. But among the many losers, one winner stands out: Elon Musk's “brainchild,” journalists believe.
“There are very few winners,” Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions, said in a phone interview. “Consumers will be the losers because they will have limited choices and higher prices,” he added.
Tesla has large factories in California and Texas that make all the cars it sells in the U.S., making it more insulated from Trump's new tariffs on imported cars and key components.
Major rivals, from South Korea's Hyundai Motor Co. to Germany's Volkswagen AG and America's General Motors Co., will soon face sharp price increases.
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