Tesla warned of the hit to its bottom line from tariffs, while SpaceX complained that foreign trade barriers affect its Starlink internet satellite service.

Mr. Musk is fundamentally a creature of Silicon Valley, a scene that initiated an entire revolution in power dressing. The young masters of that universe dressed down to show that they were members of a new elite — one that refused to dress like the grown-ups they were about to topple. It was the defeat of the suit by the T-shirt.

President Donald Trump selected a shiny red Tesla on the White House driveway as he showed support for Elon Musk's electric automaker.