Elon Musk-led electric automaker Tesla (TSLA) has issued a dire warning to the Trump administration about the ongoing trade war. The company said that it could be a target for retaliatory tariffs aimed at the country and increase the cost of making its EVs in the United States.

Toronto is no longer providing financial incentives for Tesla vehicles purchased as taxis or ride shares due to trade tensions with the United States, the city's mayor, Olivia Chow, said on Monday.