Tesla shares rise 5% after Trump hints at tariff cut
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Tesla shares climbed 5% on Friday following U.S. President Donald Trump's proposal to lower tariffs on Chinese goods from 145% to 80%, ahead of upcoming trade talks in Switzerland.
The potential easing of trade tensions has increased investor confidence in companies that have significant exposure to China, such as Tesla, News.Az reports citing foreign media.
Additionally, yesterday, Trump revealed the general framework of a trade agreement with the United Kingdom. This marks the first major deal that his administration has successfully negotiated.
At 9:47 am ET, Tesla shares rose 4.99% to sell at $299.02.
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