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US automakers will get some relief from US President Donald Trump's tariffs, according to a new White House fact sheet. Prior to his new executive order, manufacturers had to pay a 25 percent tariff on any parts used in any US-assembled vehicles. Now, they'll be able to deduct up to an amount equal to 3.75 percent of the price of a new US made car until April 30, 2026, and 2.5 percent until April 30, 2027. In addition, automakers will only be required to pay tariffs on steel or auto parts (not both as before), depending on which is higher. The new rules reportedly came at the request of manufacturers, who said they need time to move parts production to the US. "We just wanted to help them during this little transition, short term. We didnt want to penalize them," Trump told reporters. The 3.75 percent figures was reached by multiplying 15 percent of imported parts that make up a vehicle's sale price by the current 25 percent import tax. So if a $40,000 car had $6,000 or 15 percent of imported parts, the manufacturer would effectively pay no tariffs, but any higher percentage of foreign parts would result in some tariff being paid. The White House said the rebates wouldn't cost taxpayers anything since they'd come out of tariffs collected. The White House pointed out that the US trade deficit on auto parts was $93.5 billion in 2024. A large chunk of those ($19.5 billion worth) came from Canada, and large numbers of US vehicles are also built in that country. However, the reason that US automakers manufacture cars and car parts in Canada is because it's cheaper, largely because of the high cost of employee healthcare in the US. So, even if automakers manufacture more parts in the US, car prices are still likely to go up. The average price for a new vehicle in the US was $47,462 last month, according to The Associated Press. One noted analyst predicted that the original 25 percent tariffs could add $4,711 to the cost of a vehicle, while also boosting the cost of ownership and maintenance. This article originally appeared on Engadget at https://www.engadget.com/transportation/trump-temporarily-eases-car-tariffs-following-automaker-complaints-130011086.html?src=rss
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During an earnings call, Samsung's chief financial officer Soon-cheol Park told reporters that "ongoing uncertainty surrounding US tariff policies continues to pose a potential risk of demand slowdown." According to Financial Times, Park said that US tariff policies and stronger export controls against artificial intelligence products are expected to have an impact on product demand in the second half of the year. In addition to a downward trend on sales, the company also expects tariffs to raise prices for the components it uses on its mobile phones, which will have further impact on its revenue. Samsung's call discussed its results for the first quarter of 2025, which ended on March 31. The company posted KRW 79.14 trillion in revenue ($55.6 billion), an all-time quarterly high mostly due to strong Galaxy S25 sales. It also posted KRW 6.7 trillion ($4.7 billion) in profit, which is slightly lower than the previous quarter's KRW 6.5 trillion ($4.6 billion). Despite the record revenue, Samsung's chip business already took a hit due to tougher US export controls to China on chips used in hardware for artificial intelligence. The division posted KRW 1.1 trillion ($774 million) in operating profit, down from KRW 2.9 trillion ($2 billion) last quarter. Financial Times previously reported that Samsung had a boost in profit in the first quarter of the year thanks to Chinese customers stockpiling memory chips ahead of US tariffs, but the impact of US export restrictions overshadowed the increase in orders. The publication has also noted that the tariffs the US will be imposing on semiconductors and consumer electronics will lead to an increase in prices of its smartphones and TVs, which are mostly made in Vietnam and Mexico, respectively. This article originally appeared on Engadget at https://www.engadget.com/big-tech/samsung-says-us-tariffs-will-affect-prices-and-demand-for-smartphones-and-memory-chips-124537214.html?src=rss
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Toyota and Waymo have announced that they've entered a preliminary agreement, along with the former's mobility tech subsidiary, Woven by Toyota, Inc. To be clear, they're not in the midst of developing anything yet they're still exploring a potential collaboration between them. Ultimately, however, the goal is to develop a new autonomous vehicle platform together, presumably for robotaxies. They're also aiming to "leverage Waymo's autonomous technology and Toyota's vehicle expertise" for future personal vehicles. In their announcement, the companies said they're looking to incorporate aspects of Waymo's technology into Toyota vehicles meant for sale to consumers, as well as to accelerate the development and adoption of driver assistance and automated driving technologies. Waymo's work, so far, has been focused on developing robotaxis that riders can hail through an app. The Alphabet-owned company currently operates Waymo One, a fully autonomous ride-hailing service, in San Francisco, Phoenix and Los Angeles. It deploys Waymo One vehicles through Uber in Austin, and it's planning to expand the service to Las Vegas, San Diego, Miami and Atlanta sometime this year. This potential partnership could expand the reach of Waymo's tech. "Waymo's mission is to be the world's most trusted driver. This requires global partners like Toyota that share our commitment to improving road safety and expanding accessible transportation. We look forward to exploring this strategic partnership, incorporating their vehicles into our ride-hailing fleet and bringing the magic of Waymo's autonomous driving technology to Toyota customers," said Tekedra Mawakana, the co-CEO of Waymo. This article originally appeared on Engadget at https://www.engadget.com/transportation/toyota-and-waymo-pledge-to-team-up-on-a-new-autonomous-vehicle-platform-123032289.html?src=rss
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