Trump has threatened to place a 25 percent tariff on imports from Canada and Mexico, as well as a 10 percent additional tariff on all imports from China. Energy resources from Canada will have a lower 10 percent tariff.

Elon Musk's net worth has dropped by $18 billion so far this year. However, he is still by far the richest man in the world.

Musk, who last year said “things that inhibit freedom of exchange or distort the market are not good,” became $12 billion poorer Monday.