Xorte logo

News Markets Groups

USA | Europe | Asia | World| Stocks | Commodities



Add a new RSS channel

 
 


Keywords

2025-04-03 20:16:01| Fast Company

The Trump administrations 25% tariffs on imported cars and auto parts is expected to disrupt the auto industry and raise car prices by thousands of dollars. Electric vehicles are at particular risk. Trumps tariffs on vehicle imports went into effect on Thursday, and tariffs on imported auto parts will go into effect by May 3. For the car industry broadly, the lowest-priced American vehicles could see additional costs of $2,500 to $5,000 due to the tariffs, the Anderson Economic Group said in a report this week. SUVs, in particular, could be hit even harderthough many are assembled in the U.S., they have parts from Canada, Europe, and Mexico, and so could see price hikes of $10,000 to $12,000. EVs, as well, could see price increases that “exceed $15,000,” according to the report. For some imported models, tariffs could raise prices by up to $20,000. All told, U.S. consumers could see an estimated $30 billion increase in the cost of cars in the first full year of the tariffs.  Though the Inflation Reduction Act (IRA) sought to spur domestic EV manufacturing, there are still a handful of EVs that are importedincluding the Polestar 2 (from China), the Mustang Mach-E (from Mexico), the Volkswagen ID.BUZZ (from Germany), and the Hyundai Ioniq 6 (from South Korea), though Hyundai did just open a U.S. plant to build its Ioniq 5 and 9 EVs in Georgia. EVs manufactured in the U.S. still rely on imported materials, primarily batteries and battery components. The IRA has led to the establishment of domestic production facilities, but the transition is still ongoing, says Stephanie Valdez Streaty, director of industry insights at Cox Automotive. Even Teslas, which are made in the U.S., have about 20% to 25% of their value in components sourced from Mexico. Elon Musk himself said that the cost impact of these tariffs is not trivial.  And these arent the only tariffs at play for EVs. While both electric vehicles and internal combustion engine vehicles are affected by tariffs, EVs are impacted more by aluminum tariffs and battery materials, which can significantly raise production costs, Valdez Streaty says. EVs use more aluminum than gas-powered cars as a way to reduce weight and make them more efficient (both vehicle types use about the same amount of steel, which is also facing tariffs).  Trump could also impose even higher tariffs on graphite, a key component in anodes and batteries overall; the U.S. International Trade Commission says China has been exporting artificially cheap graphite, which has suppressed the U.S.’s own graphite industry. Petitions from U.S. producers of anode materials have requested tariffs on Chinese graphite be raised to as high as 920%. (The U.S. produces no graphite itself, and so relies on imports.) That could raise the cost of synthetic graphite anode material from $4,200 per metric ton to approximately $42,672 per metric ton, Valdez Streaty says, which could raise the entire cost of NMC 811 cells, a type of lithium-ion-battery, by 51%. Tesla, Volkswagen, and Ford have used such battery cells. Tariffs, EV tax credit removal would hurt EV demand The U.S. already lacks affordable EVsespecially compared to China, which has made EV models for as cheap as $10,000. Tariffs, combined with the potential rollback of the EV tax credit, could sink domestic EV demand, even those made by American workers.  The EV tax credit, part of the IRA, was meant to spur domestic EV production; getting rid of it could then eliminate the need for future EV or EV battery factories here, according to a Princeton University study from March. That study found that if that EV tax credit goes away (and also if tailpipe emissions regulations are reversed), then as much as 100% of planned EV factories could be at risk of being canceled or closed. Between 29% and 72% of U.S. battery factories operating by the end of 2025 would also be unnecessary to meet automotive demand and could be at risk of closure, the study noted.  Thats because removing the tax credit could cause EV sales to drop about 30% in 2027 and 40% in 2030, compared to a scenario in which those policies continued. The study found that cumulatively, there could be 8.3 million less EVs and plug-in hybrids on U.S. roads in 2030.


Category: E-Commerce

 

LATEST NEWS

2025-04-03 19:31:58| Fast Company

Extreme weather is dangerous weather, and that’s particularly true for the heavy rainfall events that experts say are becoming more frequent with climate change. The powerful storms can pose threats ranging from falling limbs to downed power lines to drowning. Experts say disaster preparation and good planning can help protect lives and property. What should you do if you face record rainfall? Long before extreme weather happens, it’s important to consider whether your home meets building codes, and to know what your insurance covers, experts say. This is the time to address any shortcomings. Once storms draw near, stay informed by signing up for real-time city, county and federal weather alerts, and listen to the news and whatever your local officials are saying. You can take simple steps to help protect your property, such as ensuring that gutters, storm drains and stormwater systems are clear and ready to do their part in carrying off heavy rain. If using sandbags to protect property, make sure they’re properly made and stacked to keep water out. Should you try to evacuate or stay put? If there are local orders to evacuate, you need to heed them. Gather important documents, get enough gas to drive out and prepare to be away for an extended period of time, said Jeannette Sutton, associate professor at the University at Albany. People need to err on the side of caution, she said. As major storms move in, there often comes a point when leaving is more hazardous than staying put. One major danger involves flooded roadways. Drivers who attempt to push through them can be swept away by water that is deeper than it appeared and stronger than thought. How can you prepare your home and belongings? Moving keepsakes, furniture and valuables to upper levels and making sure sump pump batteries are fully charged are shorter-term ways to prepare, along with ensuring there’s enough food, water and medical supplies. Cars can be protected by getting them into a parking structure with upper levels. Experts also say use common sense in planning: Don’t keep your backup generators in a basement where they can be ruined by flooding, for instance. What can you do once a disaster has started? If you aren’t able to prepare for floods in time, you should move to the highest level of your home, experts say, or seek out a safe shelter. If high winds and tornadoes are a threat, however, it could be dangerous to be too high up. That’s why checking forecasts is critical. Alexa St. John, Associated Press climate reporter


Category: E-Commerce

 

2025-04-03 19:00:00| Fast Company

Another day, another recall: On Tuesday, popular chocolate brand Tony’s Chocolonely recalled two of its bars, Tony’s Dark Almond Sea Salt Bar (6.35oz) and Everything Bar (6.35oz), following 12 reports from consumers who found small stones “not filtered during third-party almond harvesting and the almond processing process.” The bars were distributed nationwide from February 7 to March 24, 2025 and sold in various retail stores, as well as at Tony’s online store. “We are extremely sorry to have to issue this recall, and for the inconvenience that this will cause,” a company spokesperson told Fast Company. “Whilst the probability of a product being affected is low, we always put the safety and satisfaction of our consumers first.” The company added that all complaints occurred outside of the United States and Canada, and no injuries or illnesses have been reported. Tonys issued this voluntary recall in consultation with the Food and Drug Administration (FDA) as a precautionary measure. How can I tell if I purchased one of the recalled chocolate bars? The recall applies to seven lot codes, listed below: 6.35-oz. of of Tony’s Chocolonely Everything Bar with lot code 4327, UPC 850011828564, and use by date Nov. 22, 2025 6.35-oz. of of Tony’s Chocolonely Everything Bar with lot code 4330, UPC 850011828564, and use by date Nov. 25, 2025 6.35-oz. of of Tony’s Chocolonely Everything Bar with lot code 4331, UPC 850032676441, and use by date Nov. 26, 2025 6.35-oz. of of Tony’s Chocolonely Everything Bar with lot code M4331, UPC 850011828564, and use by date Nov. 26, 2025 6.35-oz. of of Tony’s Chocolonely Dark Chocolate Almond Sea Salt with lot code 163094, UPC 858010005641, and use by date April 2, 2026 6.35-oz. of of Tony’s Chocolonely Dark Chocolate Almond Sea Salt with lot code 162634, UPC 858010005641, and use by date Feb. 28, 2026 6.35-oz. of of Tony’s Chocolonely Dark Chocolate Almond Sea Salt with lot code M162634, UPC 850011828908, and use by date Feb. 28, 2026 No other Tony’s products are affected. What should I do if I have a recalled Tony’s chocolate bar? If you purchased one of the affected products with the specified lot codes, it is recommended to return it to the store of purchase for a refund, or throw it away. For more information, or to claim a refund or replacement, visit the company’s website here.


Category: E-Commerce

 

Latest from this category

04.04$2,300 for an iPhone? Trumps tariffs could make that a reality
04.04National Weather Service warns of life-threatening flash flooding in U.S. South and Midwest
04.04Why Goodyear stock soared while the rest of Wall Street crashed
04.04China escalates Trumps trade war with 34% tariffs on U.S. imports
04.04The AI tools we love right nowand whats next
04.04No species has ever created another species: Baratunde Thurston on the future of being human with AI
04.04How I wrote the notes app of my dreams (no coding required)
04.04Trump has an odd obsession with the word groceries. Now his tariffs will raise the price of them
E-Commerce »

All news

04.04A four-pack of Samsung SmartTag 2 trackers is on sale for $58 right now
04.04Nintendo delays Switch 2 US pre-orders following Trump tariffs
04.04'We can't afford to run our independent business'
04.04Resource Management Systems, Inc.
04.04Midjourney launches its new V7 AI image model that can process text prompts better
04.04New Mega Millions game starts Tuesday with more prizes, higher ticket cost
04.04China punches back as world weighs how to deal with higher US tariffs
04.04US electric vehicle industry is collateral damage in President Donald Trumps escalating trade war
More »
Privacy policy . Copyright . Contact form .