The United States plans to impose a 25 percent tariff on all cars manufactured outside its borders, in addition to any existing tariffs. This move will also involve extra fees on imported components, such as engines, transmissions, powertrains, and electrical components. While there are exemptions for US-based companies and those sourcing materials from Mexico and Canada, the primary goal of this policy is to “protect” America’s car industry from imported vehicles.
However, it is uncertain whether hefty tariffs will encourage consumers to purchase American-made cars, especially if they are more expensive than other brands. A similar situation occurred during the 1970s oil shock, when American cars were less efficient and more costly to operate, leading to increased demand for Japanese cars. Despite a tariff regime equivalent to a 60 percent levy, Japanese companies like Toyota, Honda, and Hyundai have become major competitors in the market, alongside traditional American manufacturers like Chrysler, GM, and Ford.
The new administration’s efforts to undermine the electric vehicle (EV) transition may lead to a shift back to gas-powered vehicles. This could potentially harm the reputation of the one EV company that might benefit from such a move, allowing China to gain an advantage in the global market.
— Dan Cooper
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Plus, it’s affordable.
Engadget’s Jeff Dunn has reviewed the new 2025 base-model iPad, which features a faster chip (A16) and 2GB more RAM than its predecessor. Although its performance may not be as impressive as the more expensive iPads, the base model is not intended for intensive use. Additionally, it will not have Apple Intelligence features, which may be a welcome omission for some users.
It’s a bold move into Sony’s territory.
Canon has introduced two new compact mirrorless cameras, the R50V Mirrorless and PowerShot V1 Compact, designed for vloggers. These cameras boast 4K video, advanced autofocus features, and a fully articulating display. While it is unclear whether the vlogging market needs more entrants, Engadget’s Steve Dent will provide a detailed review of these cameras in the future.
Learn more about Canon’s new cameras.
It has a massive workforce.
Block, Jack Dorsey’s payments company, which owns Square and Cash App, has laid off 931 employees. The company claims that this move is intended to improve efficiency and flatten the organization by eliminating management positions. Although it is unfortunate that many people have lost their jobs, it is surprising that 931 workers represent only around eight percent of the company’s total workforce.
When critics argued that Twitter was overstaffed, it was clear that they lacked understanding of the company’s needs. A global social network requires a large team to maintain the platform, engage with advertisers, and moderate content. Similarly, financial institutions like Block need many qualified employees to comply with financial regulations. However, it is questionable whether 10,000 staff members are necessary to run Square and Cash App.
Read more about Block’s layoffs.
I’m sure Gamestop buyers would appreciate banking with Robinhood.
This fall, Robinhood will offer banking services to users with a Gold subscription, including checking and savings accounts, money transfers to over 100 countries, and same-day cash deliveries. Users will also have access to wealth-management services, which may be useful for managing their finances.
