Now, a mere year later, all that economic advantage has been destroyed, the factories are in a precarious position because the entire tax situation was changed underneath them, and the US decided to give up its leadership position on the international stage and hand over all its prior soft power to China, which is now ascendant due to US weakness.
Trump is the cause for all the major weakness of the US as a whole, though Musk can stake a small claim with parts of it such as DOGE. Tesla is on the rocks because of years and years of mismanagement forcing product development into useless, undesirable, and profitless products. The only new product in ages is the cybertruck which was an obvious flop for anyone not addled by Special K, and Full Self Driving and robotics and Tesla taxis are full on vaporware.
The USA will be on the rise again when in returns to its distinctive roots: investing heavily in science and tech, enabling entrepreneurs rather than oligarchs, and eliminating corruption on the government level that chooses favorites rather than letting the best company and products win.