Trump: US to impose 25% tariff on foreign-built cars
The United States will impose a tariff of 25% on cars built outside the country, President Donald Trump said today, with major tariffs on a wide range of nations and goods set to begin in early April. Trump said the vehicle tariffs are intended to be permanent, with the goal of urging automakers overseas to add factories in the U.S. “What we’re going to be doing is a 25% tariff for all cars that are not made in the United States,” Trump said. “We start off with a 2.5% base, which is what we’re at, and go to 25%.” “If you build your car in the United States, there will be no tariff,” he said. These tariffs will apply to all completed cars and trucks shipped to the U.S., including American brands with factories overseas. Tariff revenue on vehicles will be collected from 3 April, Trump said. General Motors, Ford, and Stellantis’ share prices all declined by around 5% in extended trading. The European Commission criticised the vehicle tariff plans, with President Ursula von den Leyen saying, “As I have said before, tariffs are taxes — bad for businesses, worse for consumers equally in the U.S. and the European Union.” Automakers are also facing 25% tariffs on steel and aluminium imported into the U.S., which Trump
Trump team's Signal group texts released by The Atlantic
The Atlantic has released a follow up article publishing all the texts from a Signal group chat involving senior Trump administration staff discussing national security plans. The original article, released on Tuesday, was a bombshell expose from The Atlantic's editor in chief, Jeffrey Goldberg, where he revealed he was accidentally added to the group chat, named ‘Houthis PC small group’, on the messaging platform Signal. He was added to the text chain back in mid-March and wrote that none of the other participants noticed a journalist was in their midst as classified security and war plans were discussed, specifically plans for an airstrike in Yemen, the details of which Goldberg was then privy to before it took place. This original article, which ran with the straightforward headline, ‘The Trump Administration Accidentally Texted Me Its War Plans’, did not disclose to full content of the messages, citing concern for the identity of an unnamed CIA agent, information about weapons and the timings of specific attacks. Following the publication of this piece, President Donald Trump, director of the Central Intelligence Agency, John Ratcliffe, National Security Adviser Michael Waltz (who added Goldberg to the text chain),
Welfare cuts: UK to slash spending, Reeves confirms
Britain's finance minister, Rachel Reeves, confirmed that the Labour government would cut welfare spending by 4.8 billion pounds over the next five years. “The responsible choice is to reduce our levels of debt and borrowing in the years ahead so we can spend more on the priorities of working people,” Reeves said, addressing lawmakers in Parliament. Reeves said the cuts would boost measures to get people back to work and laid out plans to bring forward investment spending, crack down on tax avoidance, and raise revenues for the treasury. The government’s impact statement said that one in 10 people of working age were now claiming sickness or disability benefits. Many have spoken out against the change, including Citizens' Advice chief executive Clare Moriarty. "These looming benefit cuts will drive even more people into poverty, not lift them up," she said. Reeves also said defence spending would increase 2.5% of GDP with reductions in overseas aid, citing that “we are living in an uncertain world”. The Office for Budget Responsibilityhas predicted that 2025 GDP growth will halve from October 2024’s 2% to 1%. The assessment also said that Reeves would have missed her goal of balancing the nation's books in 202
EU ties sanctions relief to Russia’s full withdrawal
The European Union has agreed to lift or amend sanctions if Russia withdraws all forces from Ukraine, according to a statement from the European Commission. This comes after the U.S. has separate talks with Ukraine and Russia where they requested help to lift a series of western sanctions and restrictions on food, fertiliser and shipping companies as preconditions for a maritime security deal in the Black Sea. In particular, Russia wanted restrictions removed from the state-owned agricultural lender Rosselkhozbank. While the White House did not mention lifting sanctions as part of the proposed Black Sea ceasefire plan in a statement post-conversation, it was noted that they would help restore Russia’s access to the world market for agriculture. In response, the Commission said the EU welcomed the agreement between the U.S. and Russia, as long as they can meet their terms. "The end of the Russian unprovoked and unjustified aggression in Ukraine and unconditional withdrawal of all Russian military forces from the entire territory of Ukraine would be one of the main preconditions to amend or lift sanctions," EU spokeswoman for foreign affairs and security policy, Anita Hipper said. Hipper continued and said that the
Mission Critical: Too late for EU domestic supply push?
Perhaps a little late to the critical minerals party, the European Union has earmarked 47 strategic projects worth €22.5 billion (A$38.4 billion) and set a somewhat lofty target for its domestic supply chain goals, of which it says are a key step in implementing its Critical Raw Materials Act (CRMA) and decarbonisation mandates for carmakers. That's because it wants to primarily rejuvenate its waning automotive sector that's being priced out of the market by China and East Asia, which have not just competitive labour costs, but cheaper production all the way to manufacturing costs too. The collective aims to extract 10%, process 40%, and recycle 25% of these essential materials by 2030 from across 13 EU member states: Belgium, France, Italy, Germany, Spain, Estonia, Czechia, Greece, Sweden, Finland, Portugal, Poland and Romania.The breakdownCovering one or more segments of the raw material value chain, 25 projects will produce, 24 process, 10 will be for recycling and two for substitution of certain critical minerals. They'll be notably made up of lithium (22), nickel (12), cobalt (10 ), manganese (7) and graphite (11) projects aimed to strengthen region's battery raw material value chain, with elements such as gallium an
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Sydney
Investing04-06 May 2025Investor Conference 2025
The ASA Investor Conference 2025 is your gateway to mastering the future of investing. This isn’t just another event – it’s a dynamic experience where top-tier speakers, industry experts, and ASX leaders come together to deliver exclusive insights that will transform your investment strategies. Whether you're looking to capitalise on emerging market trends or maximise shareholder value, you'll walk away with actionable knowledge to sharpen your edge.
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Centre for Institutional Investors
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Real Estate10-11 September 2025Real Estate Forum 2025
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YachtsBennington
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10.34m
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Elkhart, United States
YachtsBennington
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Elkhart, United States
YachtsBennington
24 LXS Fastback - Quad Bench
Leisure
2025
7.7m
Ride in style with the sleek and sporty LX Sport Line. With a striking silhouette, unmatched performance, and a suite of standard luxe amenities, the LX Sport stands out on the water. OPTIONAL UPGR...
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