Trump has proposed tariffs of 10% to 20% on foreign goods that would also impact electric vehicle makers outside the U.S., especially in China.
NEW YORK — Shares of Tesla soared Wednesday following an election that will send Donald Trump back to the White House, an outcome that has been strongly backed by CEO Elon Musk in the closing months of the race.
Tesla stands to make significant gains under a Trump administration due to its size, with the expectation that subsidies for alternative energy and electric vehicles will be threatened.
While that would be a negative overall for the industry, it could give
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