He President of the United States, Donald Trump, criticized on Tuesday the “Bicot” International against Elon Musk and Teslathat he is sinking in the stock market and promised to buy one of his electric vehicles to show his support for the tycoon, which “is risking everything” by being part of his government. “To the Republicans, conservatives and all Americans. Elon Musk is risking everything to help our nation and is doing a fantastic job. But the lunatics of the radical left, as they usually do, are illegally trying and coordinating Boicotear Tesla, one of the great vehicle manufacturers and Elon’s” baby “,” Trump said in Truth Social. “I’m going to buy a new Tesla tomorrow to show confidence and support for Elon Musk, a great American. Why are you hurting her tremendous talent to help make America big again?” Trump said.
The US president, who has repeatedly acknowledged that he does not like electric cars compared attacks on Musk, the founder of the Government Efficiency Department (Doge) cuts, with the attacks he has suffered during the 2024 campaign.
But the truth is that the Donald Trump’s policy is having collateral effects With the growing reluctance of Democratic consumers and the rest of the world to buy American products and especially from Musk companies. Tesla’s action has lost more than 50% since its December peak and Musk’s fortune has fallen into about 70,000 million in a month, although it is still considered the richest man in the world according to Bloomberg Billionaires Index.
Tesla clients have shown their opposition to Musk on social networks and some have come to sell or exchange their vehicle for another brand to show their rejection of Musk.
Downward markets
The confusion about Trump’s tariff strategy and the impact on the economy has pushed the downward markets in the last week, while increasing the fears that the US enters into recession. As a consequence, Wall Street suffered a hard punishment for fear of a recession in the United States on Monday. After an attempt to bounce at the start of the session, sales imposed again. On Monday Nasdaq left 4%; S&P 500, 2.70% and Dow Jones, 2.08%.
While Trump has announced that he will double the tariffs on steel and aluminum from Canada, which will be taxed with 50% and will enter into force tomorrow, Wednesday, markets and large US companies begin to openly show their doubts about the impact on the economy.
Tesla, overvalued
Analysts blame sales falls and in the paper bag that Musk is playing to reduce the size of the Trump government and their support for the extreme right worldwide. Tesla suffers serious image problems due to the growing political prominence of Musk both in the Trump administration and among several extreme right -wing parties around the world. Faced with Tesla establishments in several points in North America and Europe, protest acts have been staged. And in countries such as Canada, boycott campaigns have been generated to the company for Musk’s statements in favor of the country’s US annexation. While, a parliamentary request to withdraw Canadian citizenship already accumulates more than 360,000 signatures. The result of all these factors is that, analysts such as those of Banco UBS have cut the price of Tesla’s shares when considering that they are overvalued.
