Following the U.S. decision to impose an additional 10% tariff on Chinese goods, China responded with a 15% tariff on American coal and other products.
Although both nations are wary of escalating the trade war, the Nasdaq index surged over 1%, pushing Tesla to a rare gain of more than 2%.
On Tuesday, Tesla’s stock rose 2.22%, closing at $392.21 on the New York Stock Exchange.
Tesla’s share price recently faced pressure due to ongoing trade war concerns. However, no specific developments related to the company drove the stock higher that day.
Instead, Tesla appeared to benefit from a broader market rally as U.S. stocks rebounded, easing trade war anxieties.