Elon Musk, the company’s chief executive, is fast losing out to Chinese electric carmakers in Tesla’s second-most-important market.

The president stated that he would buy one of these cars, whose sales have plummeted in Europe so far this year. Shortly after acknowledging the possibility of a recession, which caused one of the worst days in recent years for the US stock market on Monday,

The electric carmaker’s warning about tariffs comes despite its boss's key position in the Trump administration.