Aaj English TV

Sunday, April 27, 2025  
28 Shawwal 1446  

Tesla suspends taking new orders for Model S and Model X on Chinese website

US pauses 26% tariff on India till July
A Tesla Model S electric car is displayed on media day at the 2024 Paris Auto Show in Paris, France, October 14, 2024. REUTERS
A Tesla Model S electric car is displayed on media day at the 2024 Paris Auto Show in Paris, France, October 14, 2024. REUTERS

Tesla (TSLA.O) has suspended taking new orders for Model S and Model X vehicles on its Chinese website, according to checks made by Reuters on Friday.

New orders for the two imported models are also no longer available on the U.S. automaker’s WeChat mini programme account.

Meanwhile Wall Street stocks fell sharply on Thursday amid growing concerns over Trump’s ongoing trade battles. All three main US stock indexes suffered deep losses, losing most of the gains they made a day before.

While on one hand S&P was down 3.5% on Thursday, Dow Jones Industrial Average also took a dive by 2.5%. Nasdaq too was down 4.3%.

Although US has paused 26% tariff on India till July, the major tariffs on goods from China, Mexico, and Canada are still in effect. These countries supply a large share of what the US imports.

Due to this, people, investors, and the US Federal Reserve are dealing with another three months of uncertainty as the trade situation remains unsettled.

Read more

Trump declares 90-day tariff pause for many countries, but hikes China rate to 125%

Tech stocks rebound in Asia as DeepSeek concerns ease

Selling pressure hits PSX as KSE-100 index plummets nearly 1,200 points

This ongoing uncertainty is of course hurting the confidence in the market. Fed officials are already worried that people and businesses are cutting back on spending and investment, as per CNN.

This week, many policymakers have expressed that they still believe the tariffs are harming economic growth and may lead to higher inflation. That also puts the Federal Reserve in a tough spot when it comes to setting interest rates and other monetary policies.

For the latest news, follow us on Twitter @Aaj_Urdu. We are also on Facebook, Instagram and YouTube.

Elon Musk

Tesla

US President

President Donald Trump

Model S

Model X

Chinese Website