Tesla is a winner from the tariffs because its US market vehicles are made domestically. Most competitors import at least some of their vehicles to the US. President Donald Trump's new 25% tariffs on imported passenger vehicles, which analysts at JP Morgan have called "draconian," sent shares of Ford, GM, and Stellantis plummeting Thursday morning.

As public sentiment toward Musk has curdled, activists have taken aim at the electric-vehicle company that undergirds much of the billionaire’s wealth — transforming Tesla into the symbol of a new anti-Trump movement.