Elon Musk's Tesla Feels The Heat Of Trump’s Trade Tariffs As Sales Plummet Amid Global Boycotts—Here’s What’s Unfolding

US President Donald Trump’s aggressive trade policies are once again rattling global markets. From the start of his campaign, Trump made it clear that no nation would be exempted from his tariffs, and now, Australia and New Zealand are feeling the heat.

While Trump’s sweeping tariffs on steel and aluminum imports threaten Australia’s industry, New Zealand’s key meat and wine exports could also suffer. The response from governments has been mixed—while Canada, Mexico, and the European Union have hit back with retaliatory tariffs, Australia has chosen not to escalate tensions.

Beyond government action, citizens worldwide are taking matters into their own hands. A wave of consumer boycotts is targeting US brands, with Elon Musk’s Tesla at the centre of the storm due to his close association with the Trump administration, reported The New Indian Express.

Sales of new Tesla vehicles have plummeted—down 72 per cent in Australia and a staggering 76 per cent in Germany. Investors have reacted sharply, with Tesla’s stock losing over 50 per cent of its value since December 2024. 

The backlash has grown so intense that calls for Musk to step down as CEO are gaining momentum.

Some nations are actively encouraging consumer action. Canada’s government has urged its citizens to fight back against the unjustified US tariffs by purchasing local products and vacationing domestically.

This surge in “political consumerism”, where people make purchasing decisions based on their values, is becoming a defining feature of modern political participation in Western democracies.

This isn’t the first time consumers have used boycotts as a political weapon. In 2003, when France opposed the Iraq War, US consumers launched a boycott against French products. 

More recently, Russian goods faced global backlash following the Ukraine invasion, while Israeli products have been targeted due to military actions in Gaza and the West Bank.

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