It's worth noting that Rivian is an American automaker, making its vehicles 100% in the United States. CEO RJ Scaringe also said recently in a Fox Business interview that his company has a "very U.S.-centric supply chain." And yet, the tariff impact is significant for the company.

Rivian Automotive Inc. late Tuesday lowered its sales guidance for the year, saying it isn’t shielded from the Trump administration’s tariffs roiling the U.S. auto industry, and cast doubt on demand and consumer sentiment.