Hello and welcome to the Friday August 23rd 2019 edition of Tesla Daily on

official Tesla Podcast. My name is Rob Maower. Today we got a whole

list of things to cover so we'll get right into it. Tesla stock with a rough day today

finishing down 4.84% to $211.40 is compared to the NASDAQ which was down 3% even.

From a macro perspective, couple big things today that influenced the markets.

Fed Chairman Jay Powell spoke today, that's always closely watched by the markets. Fed Chairman Jay Powell spoke today, that's always closely watched by the markets.

In his comments he said that the Fed would be quote carefully watching developments, end quote, in the economy,

and would quote, act as appropriate end quote in response to the turbulence

that we're seeing right now. The next Fed meeting is scheduled for September 17th

and 18th and investors are definitely expecting an interest rate cut coming out of that meeting,

though I think the question remains on whether that would be a quarter percentage point or a half a percentage

point. The other and probably bigger news today is continued escalation of the trade war with China.

China's finance ministry today released a statement that they will be placing additional tariffs of 5 to 10 percent on U.S. imports,

beginning on September 1st.

Those tariffs will impact about $75 billion worth of US imports, which would be right around

40%.

Particularly of note to Tesla, China's finance ministry also announced that as of December 15th,

tariffs on automobiles would go up from the current 15% tariff level to 25%.

Couple things to consider there, China will consider exceptions.

I wouldn't necessarily expect Tesla to be granted an exception,

though it would not shock me and I think if anyone were,

it would probably make sense for it to be Tesla.

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