The Week in Numbers: Japan gets a deal, Tesla takes a hit
From Japan doing a deal on trade to why Elon Musk says Tesla could hit a rough patch. This is the week in numbers. 15% is the tariff set for Japanese goods by Donald Trump. But I just signed the largest trade deal in history. I think maybe the largest deal in history with Japan. The rate is less than threatened and will cut the current duty on Japan’s key car exports. The news sent auto stocks surging in Tokyo, and one analyst said it could also mean the country can dodge a recession. 12% was the plunge in sales for Tesla, marking its second straight quarterly drop, and Musk said the firm could face a few rough quarters, not helped by Washington phasing out support for EVs. A cheaper new model could offer a boost, but production won’t ramp up for a while, and investors aren’t happy with Tesla shares plunging following the new figures. $8.4 billion is the value put on the merger between Paramount and Sky Dance, which has now got the green light from US regulators. The deal had become politically charged after Paramount paid millions to settle a lawsuit brought by Trump over reporting by its CBS News unit. Critics, including Late Show host Steven Colbear, have called the payment a bribe to secure the merger’s approval. $50 billion is how much Astroenica says it will invest in the US by 2030. The drugs giant follows rivals in making a big pledge as the industry scrambles to prepare for possible US tariffs. For now, it remains unclear when new duties might kick in or at what level they will be set. And over $1 billion was the hit to profits for General Motors as a result of Trump’s tariffs. The auto giant says the trade turmoil could cost it $5 billion over the full year. Analysts say GM may need to cut investment plans to make up for the cost of the tariffs.
From Japan finally getting a deal with Donald Trump on trade, to why times are getting ever tougher for Tesla, we round up the big stories in business and finance over the week.
#markets #tesla #tariffs #trump #business #News #Reuters #Newsfeed
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