Vance in Israel to try to shore up Gaza ceasefire and push to next phase
U.S. Vice President JD Vance was holding talks in Israel on Tuesday as Washington tries to stabilise the first, shaky, phase of the Gaza ceasefire and...
President Donald Trump has delayed the implementation of 25% tariffs on automobile imports from Canada and Mexico for one month, following requests from executives at General Motors, Ford, and Stellantis.
The reprieve is expected to provide automakers until April 2 to begin shifting offshore production to facilities within the United States.
The decision comes less than two days after the tariffs were announced—a measure that reimposes duties on goods previously exempted under the North American trade agreement, often referred to as NAFTA 2.0. Under the terms of the agreement, automakers that comply with the United States-Mexico-Canada Agreement (USMCA) had previously enjoyed duty-free access.
The Big Three automakers operate complex supply chains with manufacturing facilities located in Canada and Mexico. For instance, General Motors produces its Chevy Equinox in both countries, while Ford’s Lincoln Nautilus SUVs and Stellantis’ Dodge Chargers are made in Ontario. Numerous automotive suppliers also rely on plants in the region.
Industry analysts warn that the tariffs could lead to a significant increase in vehicle sticker prices—potentially up to $12,000—at a time when car prices are already near historic highs. Jeff Schott, a senior fellow at the Peterson Institute for International Economics, noted that higher prices could dampen consumer demand and leave dealers with costly unsold inventory.
During an address to Congress on Tuesday, President Trump urged manufacturers to move production onshore. White House press secretary Karoline Leavitt stated at a briefing that the administration expects GM, Ford, and Stellantis to shift their operations to the United States before the tariffs are fully implemented at the end of the month. “He told them that they should get on it,” Leavitt added.
However, challenges remain. Ford CEO Jim Farley acknowledged at a recent investor call that the company does not have excess capacity at its existing plants to easily accommodate such a shift. Farley warned that while Ford could absorb the tariffs in the short term, prolonged duties could inflict unprecedented damage on the U.S. automotive industry.
Data from Edmunds.com indicate that, through February, nearly half of all new vehicles sold in the U.S. were manufactured domestically, with 17.4% built in Mexico and 7.4% in Canada.
In a statement, Ford reiterated its commitment to U.S. manufacturing: “Since President Trump’s successful USMCA was signed, Ford has invested billions in the United States and committed to billions more in the future to both invest in American workers and ensure all of our vehicles comply with USMCA. We will continue to have a healthy and candid dialogue with the Administration to help achieve a bright future for our industry and U.S. manufacturing.”
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
New Zealand's annual inflation accelerated in the third quarter, reaching 3.0%, which aligns with analysts' expectations and is at the upper end of the central bank's target range, according to official data released on Monday.
On Sunday, the Netherlands' Economy Minister, Vincent Karremans, stated that he expects to meet with a Chinese government official in the coming days to discuss how to resolve the standoff over Nexperia NV, a computer chip maker whose issues are threatening global automotive supply chains.
In the first nine months of this year, 10.2 billion cubic metres of gas were produced from the Azeri-Chirag-Gunashli (ACG) block in the Azerbaijani sector of the Caspian Sea, according to operational data released by the Ministry of Energy.
Apple’s latest smartphone, the iPhone Air, sold out within minutes of its launch in China on Friday, highlighting the brand’s enduring appeal among Chinese consumers despite growing competition from local Android makers.
Wall Street closed lower on Thursday as renewed concerns about regional banks and intensifying U.S.-China trade tensions weighed on investor sentiment, pulling major indexes off recent record highs.
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