President Donald Trump's promise to place tariffs on Canada and Mexico could hurt automakers, including Tesla Inc (NASDAQ:TSLA). What Happened: On Thursday, Trump postponed plans to place tariffs on goods imported from Canada and Mexico until April.

The electric car company led by Elon Musk builds all the cars it sells in the United States in California and Texas, shielding it from tariffs that could devastate competitors.

Tesla gets more than 20% of its parts from Mexico, as well as some from Canada on top of it. So, yes, Tesla will be negatively affected by the tariffs. However, there’s another one-month delay.

President Donald Trump granted a one month exemption on tariffs on imports from Mexico and Canada for U.S. automakers on Wednesday. But the industry will seemingly have to face the tariffs eventually,

Trump tariffs on Mexico, Canada and China will hit automakers to varying degrees, with one of the biggest wildcards being how much it hurts Elon Musk and Tesla.

Elon Musk’s wealth has plunged $121 billion since its December peak after Tesla stock experienced one of its worst days this year, Forbes reported. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

Civic hybrids will be built in Indiana instead of Mexico to avoid new tariffs, and Tesla's planning to put its latest battery factory in Katy, Texas.

If imitation is the sincerest form of flattery, what exactly is going on with Tesla owners trying to hide what they're driving?

US President Donald Trump recently imposed new tariffs on Chinese goods and threatened a trade war with allies like Mexico and Canada. These developments are likely to have varied impacts on global companies. However, one firm that may suffer less than most of its competitors is Tesla, the EV maker led by Elon Musk.

Tesla shares fell Tuesday, extending recent losses amid concerns about tariffs, weak Chinese sales, and souring sentiment, with analysts at Bank of America lowering their price target for the stock.

If left in place, such high import duties would make Detroit's North American-centric business structurally unprofitable, warns Barclays investment bank.