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The company faces ever-stiffer secular headwinds, including competition from legacy automakers moving into the electric vehicle market, along with EV startups such as Rivian.

The Trump administration says it’s imposing tariffs to strengthen national security and spur the growth of American jobs because automakers would face more pressure to build plants in the United States.

Heavily taxing imported cars, the thinking goes, would put pressure on automakers to build manufacturing plants in the U.S.

But experts and automakers have warned in dire terms that tariffs could raise prices for US consumers, amplifying the stress of an already sluggish economy.

"The consumer is going to feel it across the board and I really don't think that any automaker is going to be spared from this, Tesla included."