Tesla shares soared nearly 23% after President Trump announced a 90-day pause on tariffs for over 75 nation, excluding China, boosting investor confidence and lifting the EV giant’s market value to $852.9 billion amid a volatile trading year.
Tesla shares soared by 22.69% on Wednesday, closing at $272.20, after U.S. President Donald Trump announced a 90-day pause on newly imposed reciprocal tariffs for over 75 countries—excluding China. The electric vehicle giant’s market value climbed to $852.9 billion, marking a significant rebound following months of volatility.
The sharp rally came after Trump posted on his Truth Social platform that the temporary pause and a reduced 10% tariff rate would take immediate effect, sparking a broader surge in U.S. stock markets.
Tesla, which has suffered a 44% share price decline since December due to intensifying Chinese competition and CEO Elon Musk’s political ties, appeared to benefit most from the policy shift. Musk, whose personal net worth once peaked at $486 billion, has seen losses of over $130 billion this year alone—driven largely by Tesla’s market dip and investor concerns over his close association with Trump.
Trump's decision to maintain a harsh 125% tariff on Chinese imports while easing pressure on others has triggered mixed reactions but offered much-needed relief to U.S. based manufacturers like Tesla.
As markets digest the temporary reprieve, all eyes remain on how Tesla and global trade dynamics will evolve over the next 90 days.
President of Azerbaijan Ilham Aliyev received a delegation led by Mazen Torki Saud Al-Qadi, Speaker of the House of Representatives of Jordan, on 21 J...
Fuel stations in Russian-controlled Crimea stopped selling fuel to individuals and businesses from 9:00 a.m. local time on Sunday, the Russian-install...
British Prime Minister Keir Starmer has said the violent attacks in Edinburgh, Scotland, on Friday, which left five men injured, were motivated by "an...
Britain's Observer newspaper reported that Prime Minister Keir Starmer is expected to resign on Monday and outline a timetable for his departure. ...
The United States has launched an investigation into Germany's pharmaceutical pricing policies to determine whether they unfairly disadvantage America...
Thousands of people took to the streets of Geneva on Sunday, 14 June ahead of this week's G7 summit in neighbouring France, but a largely peaceful demonstration later descended into clashes with police.
After many years, reams of regulatory paperwork and a well-timed presidential visit, Tesla has finally launched its Full Self-Driving (FSD) system in China, the world’s largest electric vehicle market and one in which competitors have been rapidly advancing their autonomous driving capabilities.
Elon Musk took the stand on Tuesday (28 April) at a high-stakes trial over the future of OpenAI, casting his lawsuit against the ChatGPT maker as a defence of charitable giving.
Major automakers showcased new electric vehicles at the New York Auto Show this week, under the slogan “electrification is the future." However, weakening demand in the United States and intense competition with China are raising questions for markets across the globe, including the South Caucasus.
A train driver has been killed and nine people remain in a critical condition in hospital, after two trains collided near Beford in the east of England on Friday. The passenger trains heading to London collided at around 17:15 local time (1615 GMT).
Morocco captain and PSG defender Achraf Hakimi will face trial in France after an appeals court ruled there was enough evidence for the case to proceed.
A magnitude 5.8 earthquake struck southwest of Greece’s island of Crete on Saturday, with no immediate reports of damage.
Paraguay kept their World Cup hopes alive with a hard-fought 1-0 victory over Türkiye, but the celebrations were tempered by a costly red card for veteran forward Miguel Almirón.
Israel and Hezbollah have agreed to a ceasefire, a senior U.S. official has said. Hezbollah has released a statement saying Israel must leave southern Lebanon. Israel has said it agrees to the ceasefire, but has said its armed forces won't leave Lebanon and will resume hostilities if attacked.
Media leaders from across Europe gathered in Vienna this week for the annual European Publishing Congress.
Amazon founder Jeff Bezos has said artificial intelligence will ultimately lead to labour shortages rather than widespread unemployment, pushing back against growing fears that AI will replace human workers.
French department store BHV and online fast-fashion retailer Shein have ended their partnership, seven months after the launch of a permanent Shein shop in Paris triggered controversy and widespread criticism.
China’s retail sales fell for the first time in more than three years in May, while urban investment contracted more than expected, signaling further weakness in the world’s second-largest economy.
Macao opened the 17th International Infrastructure Investment and Construction Forum on Thursday, with officials and industry leaders highlighting the role of green and digital technologies in strengthening global infrastructure connectivity.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment