His announcement came as Tesla warned: "Uncertainty in the automotive and energy markets continues to increase as rapidly evolving trade policy adversely impacts the global supply chain and cost structure of Tesla and our peers." Tesla also admitted that "changing political sentiment" was also damaging sales. Deliveries of its vehicles fell 13pc in the first three months of the year, Tesla reported earlier in April. The company said the twin impact of tariffs and boycotts "could have a meaningful impact on demand for our products in the near-term." The fall has prompted questions over whether the billionaire's association with Mr Trump's Maga movement has done permanent damage to the company. The results came hours after Scott Bessent, the US Treasury Secretary, said that America's trade war with China was not sustainable, telling a JP Morgan investor summit there was "a big deal to be done."