ICYMI: President Donald Trump’s “Liberation Day” tariffs delayed until August 1. The U.S. Department of Defense secured a rare earth deal with MP Materials to boost domestic production. Elon Musk’s “America Party” announcement sparks a $68 billion Tesla selloff. Ford’s $3 billion battery plant will open on schedule following the passage of Trump’s $3.4 trillion fiscal bill. Ford and its dealers mobilize to provide $1.25 million in support for the tragic flooding in Central Texas.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
Trump extends tariff pause, plans new import hikes Aug. 1
President Donald Trump has extended the pause on his “Liberation Day” tariffs until Aug. 1, delaying clarity for automakers and suppliers awaiting long-term U.S. trade policy updates. Starting next month, the U.S. will impose new country-level tariffs as high as 50% on select imports, in addition to existing sectoral duties on autos, steel and aluminum. The new measures will impact key trading partners including Canada, Japan and South Korea, while talks with the European Union, Mexico and China continue under different timelines. Read More
MP Materials strikes rare earths deal with US to cut China dependence
MP Materials has signed a landmark deal with the U.S. Department of Defense to expand rare earth magnet production and reduce reliance on Chinese supply. The agreement includes a government-backed floor price nearly twice the current Chinese rate, a $400 million equity investment, and long-term offtake guarantees for defense and commercial use. MP will invest $600 million of its own capital, backed by a $1 billion loan, and plans to launch a new manufacturing facility in 2028. The Defense Department will become MP’s largest shareholder, raising Washington’s stake to 15%. Read More
Musk’s ‘America Party’ sparks $68B Tesla selloff, investor backlash
Tesla shares continue to slide as the feud between CEO Elon Musk and President Donald Trump escalates. After Musk announced plans to form his own political party called the “America Party,” Tesla’s stock fell 7% on Monday. The company has now lost more than $68 billion in market cap. Read More
Ford’s $3B battery plant secures future after Trump tax bill passes
Ford has reaffirmed its commitment to its $3 billion battery plant in Marshall, Michigan, following the passing of President Donald Trump’s $3.4 trillion fiscal bill. The new law eased restrictions on EV production tax credits, ensuring the factory remains financially viable. The plant, once imperiled by concerns over licensing Chinese technology, is now expected to open on schedule and employ 1,700 workers. Read More
Ford, dealers mobilize $1.25M in flood relief for Central Texas
In the aftermath of catastrophic flash flooding in Central Texas, Ford, its dealers, and nonprofit partners are delivering critical relief. The automaker has committed $1.25 million in donations, offered loaner vehicles to aid recovery operations, and is organizing volunteer efforts across the region. These initiatives target affected communities in Kerr and Tom Green Counties, where flooding caused widespread damage and loss of life. Read More
Next Week: Exclusive Interviews You Can’t Miss
How AI is transforming dealership workflows, not replacing jobs – Michael Wood | Checkered Flag Auto Group
While fears persist that AI will take over jobs in the retail automotive space, Michael Wood, General Manager of Jaguar Land Rover and Volkswagen at Checkered Flag Auto Group, offers a more grounded and optimistic view. In this upcoming episode of Inside Automotive, Wood argues that AI isn’t here to replace people, but to eliminate the dullest parts of their work and enhance overall dealership performance.
Warner Hyundai’s Kyle Morissette on how AI enhances fixed ops efficiency
As artificial intelligence continues to disrupt the retail automotive space, some dealers are already seeing real results. In this upcoming episode of Service Drive on CBT News, Kyle Morissette, fixed operations director at Werner Hyundai shares how his team is using AI to increase efficiency, elevate the customer experience and boost financial performance without sacrificing jobs.
