Tesla hit hard by ongoing trade war
China is Tesla’s largest market outside the U.S., accounting for about 10 percent of total revenue in the first three quarters of 2018. Since the country raised the tariff on U.S. car imports to 40 percent in July from 15 percent, Tesla’s China revenue has plummeted — 27.5 percent in this year’s third quarter compared with the same period last year, according to company reports.
Tesla said last month it was reducing Model S and X prices 12 percent to 26 percent under tariff pressure.
Investigation clear FCC’s Pai
The Federal Communication Commission’s Office of Inspector General found no evidence that FCC Chairman Ajit Pai covered up or failed to disclose information about his interaction with the White House regarding Sinclair Broadcast Corp.’s failed merger with Tribune Media.
The investigation, which followed up on an earlier probe, found no evidence Pai left out material information during a July 25 congressional hearing. The report found no evidence of any other communications between the White House and FCC staff regarding the deal.
Pai, an appointee of President Donald Trump, had been criticized for loosening TV ownership regulations that were viewed as beneficial to Sinclair.