Tesla’s stock rose about 7% today, pushing the company’s market value back over $1 trillion, after the U.S. and China agreed to temporarily lower tariffs for the next 90 days while they work on a bigger trade deal.
The U.S. will reduce tariffs on Chinese imports from 145% to 30%, while China will drop tariffs on U.S. goods from 125% to 10%.
The tariff cut is good news for Tesla, since high tariffs can increase car prices and scare off buyers. Tesla’s core business is cars, so fewer sales would also hurt its other products like self-driving software, insurance (in some U.S. states), and charging services.
Looking ahead, Tesla is planning to test robotaxis in Austin, Texas this June.
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