Tesla boss Elon Musk says he will cut back his role in the Trump administration as the company's profits and revenues plunged during the first three months of the year. Sales slumped and the brand has faced backlash as Musk became a political fixture in the White House.

Tesla reported dismal earnings and warned that politics and Trump's tariff policies would take a toll on the company. Musk said he would advocate for lower tariffs.

Tesla reported earnings down 71% from this time in 2024, and its stock has dropped 37% from the beginning of this year. The negative results that Musk’s company have suffered have been attributed by many to his political involvement, which has resulted in mass protests of the company.