54US Lifts 25% Tariffs on UK Steel and Aluminium: Trade Deal Eases Pressure on Struggling Industry
On May 8, 2025, the UK and US reached a trade agreement removing 25% tariffs on British steel and aluminium exports, easing pressure on the UK steel industry. The tariffs, imposed in 2018 under Trump, had strained the sector. While the deal is welcomed, it requires the UK to meet US conditions on steel supply chain security and production facility ownership. The agreement includes a quota system, and its full benefits depend on further clarity regarding implementation timelines and conditions.
56Pratt & Whitney Workers Strike in Connecticut Threatens F-35 and Airbus A320 Engine Supply
Over 3,000 unionized machinists at Pratt & Whitney in East Hartford and Middletown, Connecticut, are on strike for the fifth day, demanding job security and better pay. The strike, the first in over 20 years, affects production of engines for Lockheed Martin's F-35 jets and Airbus A320neo aircraft, raising concerns in the aerospace industry. Union members rejected the company's contract offer, citing outsourcing fears. Political figures, including Senator Richard Blumenthal, support the strike, urging federal labor reforms. Pratt & Whitney has implemented contingency plans to continue operations during the strike.
44U.S. Commerce Department Investigates National Security Risks of Imported Aircraft Under Section 232
The U.S. Commerce Department, led by Secretary Howard Lutnick, has launched a national security investigation into the importation of commercial aircraft, jet engines, and parts under Section 232 of the Trade Expansion Act of 1962. Initiated on May 1 and disclosed on May 9, the probe examines the impact of these imports on U.S. national security and the aerospace industry's competitiveness. The investigation could lead to increased tariffs, affecting trade dynamics. Stakeholders can submit comments during a three-week period, and the outcome may influence future trade policies.
43China Buys 400,000–500,000 Tons of Wheat from Australia and Canada Amid Domestic Heat Threats
Chinese buyers have purchased 400,000 to 500,000 metric tons of milling wheat from Australia and Canada due to concerns over domestic crop damage from hot, dry weather in Henan province. This marks China's return to the Australian wheat market after a year-long hiatus. The wheat is for delivery in July and August, driven by weather-related urgency and low global prices. China also bought around 200,000 tons of Canadian wheat. The purchases exclude U.S. wheat due to trade tensions. Additionally, China has secured significant volumes of barley from France or Ukraine.
40Tesla Suspends Model Y and Cybertruck Production at Austin Gigafactory for Memorial Day Week Amid 13% Drop in Q1 Deliveries
Tesla has paused Model Y and Cybertruck production at its Austin, Texas Gigafactory for Memorial Day week, amid a broader reduction in overtime hours. This follows a 13% drop in vehicle deliveries in Q1 2025. Workers report inconsistent schedules and limited communication from management, raising concerns about production stability. The pause is part of operational adjustments, including reduced Cybertruck output and reassignment of workers to the Model Y line. Tesla faces demand challenges, with a growing inventory surplus, particularly of the Cybertruck. A contractor also laid off 50 workers at the facility this month.
60Top 5 Resilient Industrial Stocks for Navigating Economic Uncertainty: Johnson Controls, Boeing, and More
In uncertain economic times, five industrial stocks—Johnson Controls, Boeing, Waste Management, AZEK Company, and Larsen & Toubro—are noted for their resilience and growth. These companies, spanning sectors from aerospace to environmental services, have shown strong financial health and operational strength. Johnson Controls exceeded earnings expectations and raised guidance, Boeing benefits from defense contracts, Waste Management offers consistent returns, AZEK focuses on sustainable products, and Larsen & Toubro excels in infrastructure projects. Analysts maintain positive ratings, highlighting these stocks as leaders in navigating economic challenges.
47Kia Sportage Breaks U.S. Sales Record in 2024; 2026 Model Unveiled with Competitive Pricing Amid Tariffs
Kia's Sportage set a U.S. sales record in 2024 with 51,025 units sold. The 2026 model, unveiled with pricing details, starts at $28,690 despite tariff pressures. It offers six trims, all powered by a 2.5-liter engine, and features like dual panoramic displays and smart cruise control. The model is manufactured in Georgia, with only 20% of parts sourced from the U.S. or Canada. Kia maintains competitive pricing amid rising costs, positioning the Sportage as a value leader in the compact SUV market, with the 2026 model expected in dealerships by mid-2025.
46Tesla Cybertruck 2025 Launch: Higher Prices and Canceled Features Diverge from 2019 Promises
The Tesla Cybertruck, initially unveiled in 2019 with promises of a $39,900 starting price and 500-mile range, has launched in 2025 with significant changes. The base model now starts at $60,990, and the top-tier 'Cyberbeast' offers a 301-mile range for around $100,000. Features like the $16,000 range extender, 'crab walk,' and floating capability have been canceled or delayed. The Cybertruck's design and production complexities have led to higher costs and delays, diverging from Elon Musk's original vision and raising questions about the feasibility of his early claims.
53The Enduring Value of Handwritten Notes in American Business Culture Amid Digital Age
In the digital age, handwritten notes remain influential in American business culture. Financial advisor Ted Jenkin writes five to ten thank-you notes weekly, citing their effectiveness in building relationships and differentiating oneself in business. Handwritten notes are valued for their personal touch, especially among working-class Americans who prefer tangible communication. Writing by hand offers mental benefits like mindfulness and clarity, which digital tools lack. While digital platforms enhance efficiency, they often miss the emotional connection that handwritten notes provide, making them a strategic asset in fostering workplace relationships and culture.