“There is waste, fraud, and abuse in the government,” IBM vice chair and former director of the National Economic Council Gary Cohn told Yahoo Finance Executive Editor Brian Sozzi during a conversation on the Opening Bid podcast (see video above or listen below). He added that getting rid of that “has to be done.”

The electric vehicle maker has large factories in California and Texas that churn out all the cars it sells in the US, insulating it to a greater degree from Trump’s new levies on auto imports and

If implemented, the tariffs on automotive imports announced by the U.S. will hit the industry hard, but Elon Musk's Tesla is primed to come out best.