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.

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.

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.

Trump granted a one month exemption on tariffs on imports from Mexico and Canada for U.S. automakers. But threats to Tesla still loom.

For Tesla specifically, information from the Department of Transportation indicates that the company imports roughly 25% of its materials from Mexico.

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.

As President Donald Trump puts new tariffs on goods from China and threatens a trade war with allies such as Mexico and Canada, one global company

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.

The sale comes as Tesla’s stock has lost a third of its value since President Donald Trump took office, amid a backlash against the EV maker’s CEO Elon Musk and a broadening trade war.

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