Tesla stocks climbed after U.S. President Donald Trump announced tariffs on imported cars and auto parts.
Tesla slightly dodged the tariff blow thanks to its gigafactories in China and Germany that don't supply Tesla vehicles to the United States market.
Analyst Itay Michaeli sees Tesla as a relative beneficiary due to its 100% U.S. production footprint and substantial U.S. sourcing.
Tesla warned that the 25% tariff on non-U.S.-made vehicles will still affect the company, as certain parts are difficult to source within the United States.