China bumped up its tariff on electric cars by 40 percent in retaliation to US tariffs on Chinese imports.
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| © Provided by CBS Interactive Inc. 2017 Tesla Model X |
By Daniel Van Boom, Roadshow
The US-China trade war officially kicked off on Friday, and it didn't take long for the consequences to flow on to the public.
Tesla cars became considerably more pricey in China over the weekend, according to the Wall Street Journal.
The Model X is now priced at $140,100, for instance, over $20,000 more
than the $117,100 it previously sold for. The Model S, at $128,400, is
also roughly $21,000 more expensive than it previously was, the Journal
reports.
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The US implemented a 25 percent tariff
on $34 billion worth of Chinese imports on Friday, causing China to
retaliate. The Chinese tariff on electric cars shot up from 15 percent
to 40 percent, reports Bloomberg. The publication previously reportedElon Musk will be meeting Chinese officials in Shanghai and Beijing this week.
Tesla has been contacted for comment.
Among
Musk's chief concerns in recent months is the production of the Model
3, which had previously failed to hit targets several times. Over 5,000
Model 3 sedans were built in the final week of June, a goal
that was pushed back more than once, due in part to Musk's ambitious
plans to automate as much of the process as possible. In an April interview with CBS This Morning, Musk admitted that the Model 3 production ramp has been a serious learning process.
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