Tesla Stock Drops 5% After Trump's Tariff Threats

Tesla's stock price fell 5% on Monday, the largest decline among the so-called "Magnificent Seven" US companies, following President Trump's threats to impose tariffs on imports from Canada, Mexico, and China. The company, like other automakers, would be significantly impacted by the proposed 25% tariff on vehicles from Canada and Mexico due to the interconnected supply chains. Tesla's CFO, Vaibhav Taneja, noted that the company has attempted to localize its supply chain in markets like the US, Mexico, and China to limit its exposure to potential disruptions. However, the company still relies heavily on parts from around the world for all of its businesses.