It was recently reported that several world-class car companies have filed lawsuits against the Donald Trump administration over tariffs imposed on goods imported from China.
The lawsuits issued by Tesla, Volvo, Ford, and Mercedes-Benz in New York this week focused on the 25% tariff issue introduced by US trade representatives.
I don't know how many times this president received a summons from a leading company, starting with a summons by Harvard University, social media networks such as Facebook and TikTok until being sued by several districts of the country itself.
Tesla filed the suit, describing the US government's actions as 'irregular, discretionary abuse'.
Earlier, U.S. trade representative Robert Lightnizer, who appeared as a defendant, rejected Tesla's application to exempt tariffs on computers and display screens imported from China for the installation of Model 3 electric cars.
Since Trump took over the government in 2017, the US and China have begun to be ‘bound’ by trade disputes.
Although the Phase 1 agreement was signed earlier this year, an additional 25% tariff remains on Chinese goods worth $ 250 billion.
The U.S. Department of Commerce reported the country's trade deficit in July had risen nearly 11% to $ 63.6 billion and China recorded an increase in the deficit to $ 28.3 billion.
Tesla shares saw a decline of 12.56 or 3.30% and closed lower at $ 367.80.
