Latest news with #automakers
Yahoo
9 hours ago
- Business
- Yahoo
7 Items To Stock Up on in Response to Trump's Tariffs
In the politically tumultuous world of looming inflation, you have to start asking yourself what to stock up on in response to price hikes. Do you purchase items from Canada, Mexico or China? Read Next: Learn More: The Trump Administration has placed an additional 25% tariff on imports from Canada and Mexico and an additional 10% tariff on imports from China, according to the White House's official website. These tariffs are on top of existing tariffs already in place — so how could this affect consumers' personal finances? There has been a lot of back and forth with the tariff mandates, but ultimately, it comes down to how much each will impact your wallet. Here are some examples: Homes: The National Association of Home Builders (NAHB) estimated that before the recent 50% tariffs on steel and aluminum, tariff activity added roughly $10,900 to the average cost of a new home. This could also reduce the number of homes being built, which would create a housing shortage, and lead to higher inflation pricing thanks to warped supply and demand. Car: Some economists predict that Trump's Tariffs are expected to drive up auto costs anywhere between $4,000 to $12,500, depending on what type of car you buy and where it comes from. For example, there is an imposed 25% tariff on steel and aluminum that could hurt U.S. automakers on imports from Mexico and Canada. Food: Coffee from Brazil (tariff rate: 10%) and Colombia (tariff rate: 10%); Olive Oil from anywhere in the European Union (tariff rate: 20%); Seafood from Chile (tariff rate: 10%), India (tariff rate: 26%), Indonesia (tariff rate: 32%) and Vietnam (tariff rate: 46%); Fruit from Guatemala (tariff rate: 10%), Costa Rica (tariff rate: 10%) and Peru (tariff rate: 10%) In an ideal world, these tariffs wouldn't increase the price for U.S. consumers; however, this isn't realistic. With that in mind, try to make some intentional purchases for items now that are subject to Trump's tariffs and will go up in price, if they hopefully haven't already. Here are a few things to add to your shopping list to grab before stores have to restock with more expensive inventory. For You: Countless well-known computer brands, such as Apple, Dell and HP, create and assemble their products in China. According to the Observatory of Economic Complexity (OEC), 8.7% of all exports from China are for computers. If you're thinking about upgrading your work laptop or gaming PC, consider doing so now before prices are adjusted for tariffs. TV and other broadcasting equipment accounted for 12.5% of exports from China to the United States, according to the OEC. Have you been dreaming about a 75-inch flatscreen TV in your living room? How about upgrading your desk monitors or investing in a surround sound system? Whatever the case, consider buying your TV and electronics equipment now. China is a major exporter of toys and video games to the United States. In 2023, toys, video games and card games accounted for 5.40% of imports into the United States, per the OEC. Now might be a great time to stock up on birthday presents, Christmas gifts and other toy items before prices increase. If you're a business owner or in the market for a new vehicle, consider expediting your purchase. Over 23% of imports from Mexico in 2023 were related to cars, delivery trucks and accessories, according to the OEC. If you've been considering upgrading your car, it might make sense to get the process started sooner rather than later. If you enjoy having a cold one after a long day, check where your beverage comes from. In 2023, purchases of beer and hard liquor made up 2.32% of the United States' imports from Mexico, per the OEC. Alcoholic beverages have a long shelf life, making them great items to stock up on. Canada is a major producer of rapeseed oil, also known as canola oil. In fact, 1.18% of all U.S. imports from Canada in 2023 were for rapeseed oil, according to the OEC. If canola oil is your preferred cooking oil, consider stocking up, as prices are likely to increase due to tariffs. Wood products, including sawn wood, particleboard board and wood carpentry items, made up 2.25% of imports from Canada in 2023, per the OEC. If you're considering starting a new project or ordering a new piece of furniture, now might be the time to stock up. The prices for lumber and products containing wood and particleboard may increase over the next few months. New tariffs don't always mean prices will increase. However, taking a proactive approach and stocking up on items you would already be purchasing can safeguard your wallet if prices do rise. Caitlyn Moorhead contributed to the reporting for this article. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates 7 Luxury SUVs That Will Become Affordable in 2025 This article originally appeared on 7 Items To Stock Up on in Response to Trump's Tariffs
Fast Company
11 hours ago
- Automotive
- Fast Company
You're not imagining it: Silly sounds make EVs hard to hear coming down the street
Over the past several years, electric vehicles have garnered something of a reputation for their unusual sounds on the road. Otherworldly EV warning sounds have been compared to ' a celestial choir,' a ' flying saucer hum,' and, in one TikTok with 23.5 million views, the song that might play just before ascending to heaven. But the angelic warble that's come to characterize EV acoustics might have a few drawbacks for pedestrians. A new study conducted by researchers at Chalmers University of Technology in Sweden and published in March examined how well the average person could locate three common types of warning sounds from hybrid and electric vehicles at low speeds. It found that all three of the sounds were significantly harder for pedestrians to locate than the sound of a standard internal combustion engine. Given that they have no combustion engine, EVs are naturally almost silent. That can be a benefit when it comes to urban noise pollution, but it's not ideal for pedestrian safety. For the past six years, all EVs in the U.S. have been legally required to emit some kind of low-level noise— a prompt that automakers have chosen to interpret in a range of creative ways. But it might be time for some automakers to take another crack at their proprietary EV acoustics. What do Hanz Zimmer, a didgeridoo, and fighter jets have in common? Starting in 2019, the National Highway Traffic Safety Administration ruled that all hybrid and electric cars have to be fitted with an external speaker that must 'make audible noise when traveling in reverse or forward at speeds up to 30 kilometers per hour (about 19 miles per hour).' While the law sets expectations for when these noises need to play, it largely leaves the contents of the noise itself up to automakers. That's resulted in a variety of EV sounds on the road, from a Cadillac alert made using a didgeridoo to the Hyundai Ioniq 5 N's fighter-jet-inspired sound and BMW's portfolio of i4 electric sedan noises by composer Hans Zimmer. This unusual symphony hitting the roads has inspired quippy commentary on social media. Under a TikTok sharing the BMX iX 50's reverse sound, one user wrote, 'is this ribs by lorde?' And in a video poking fun at Tesla's reverse audio, another commenter joked, 'Every time our neighbour pulls onto the drive with their electric car my husband says 'the spaceship has landed.'' Beyond sounding a bit silly, though, there are a few key shortcomings to the sounds that many automakers are selecting for their EVs. Why are EVs so hard (and annoying) to hear? Chalmers researchers examined three of the main categories of EV sounds, also known as acoustic vehicle alerting systems (AVAS): two-tone, multitone, and narrowband noise (a noise concentrated within a small band of audible frequencies, often perceived as a hissing sound). To compare these sounds to that of an internal combustion engine, researchers studied the reactions of 52 test subjects inside a soundproof chamber. Each subject was surrounded by 24 loudspeakers and given a laser pointer fashioned out of a toy gun. When one of the speakers played a simulated vehicle sound designed to mimic the noise of an EV at a low speed, the subjects were to point the laser toward the sound as quickly as possible. The tests demonstrated that all the AVAS categories were harder for subjects to locate than the sound of an internal combustion engine. And, according to Leon Müller, a PhD student at Chalmers and one of the paper's authors, one of the sounds was more problematic than the others. '[The two-tone AVAS] is significantly harder to localize than other types of warning sounds, as well as combustion noise,' Müller says, noting that in a situation with just one vehicle present, these localization errors are relatively small and not particularly concerning for traffic safety. When there are two or three EVs present, though, the situation can get a bit stickier. 'In that case, the participants had much more [difficulty] localizing the cars, up to a point where most participants failed to even detect all presented EVs within an appropriate time,' Müller says. There are a few reasons why pedestrians might have trouble locating EV sounds. First, Müller explains, combustion noise is a very broadband signal—meaning it contains a lot of frequencies, 'and hence more information for our hearing system to work with.' Second, humans have had substantially more time to acclimate to combustion sounds than artificial EV sounds. 'We humans have learned over the last 100 years or so that cars sound in a particular way and how driving behavior, such as acceleration, is reflected in this combustion noise,' Müller says. 'This potential learning effect might also contribute to differences in localization, especially when we need to 'decode' multiple sounds at the same time. One could expect that we would then also get used to EV sounds within a few years. The only problem is that they currently all sound different.' A new sound In the meantime, Müller believes there are two potential avenues to make EV sounds safer. Currently, U.S. and EU regulations are limited to minimum sound levels in a specified number of frequency bands, which he argues 'allows the warning signals to be anything between a futuristic spaceship sound or a racing car engine.' In the U.S., he adds, regulations don't require a velocity pitch shift, meaning that a car might sound the same going 60 mph as it does at 25 mph. To address these problems, Müller says the regulations should 'make more clear demands on the sound characteristics.' On the automaker side of the equation, the Chalmers study indicates that a more broadband AVAS signal, similar to the noise radiated by tires when driving faster, is preferable to a two-tone or multitone AVAS. '[This sound] is potentially less annoying than tonal sounds and has the advantage that we already have 'learned' to interpret this noise since we hear it every day,' Müller says. In the long term, he adds that adaptive AVAS solutions—like pedestrian detection technology—could help EVs radiate a more advanced warning sound directly in the direction of the pedestrian, thus improving safety and reducing noise pollution. 'One important bottom line here is that we are not saying EVs are bad or dangerous. With the right type of warning signal, they are not,' Müller says. 'On the contrary, they have the potential of reduced noise pollution since the warning sound can be controlled, while the combustion noise in [internal combustion engine vehicles] is always there.'
Reuters
14 hours ago
- Automotive
- Reuters
China warns automakers to prioritise safety, state media reports
BEIJING, June 20 (Reuters) - Chinese authorities cautioned automakers and power battery manufacturers against marketing exaggerations and fraudulent practices, urging strict adherence to safety standards, the official Xinhua News Agency said on Friday. The warning was issued during a meeting attended by China's industry ministry, market regulator and the national fire and rescue authority, Xinhua reported. The meeting called for an end to the industry's excessive competition and warned of "short-term cost reduction and efficiency" leading to shoddy products.
Yahoo
16 hours ago
- Business
- Yahoo
Precious Metals Rally as Gold Nears New Highs
Via Metal Miner The Global Precious Metals MMI (Monthly Metals Index) saw a strong rally from mid-May to mid-June. Precious metals prices like gold, silver, platinum and palladium all climbed on a potent mix of safe-haven investment flows and robust industrial demand. Geopolitical tensions, notably the recent flare-up in the Middle East between Israel and Iran, have only fueled more risk aversion. This continues to drive safe-haven demand into gold and silver. Palladium has improved from its spring lows but continues to lag other precious metals prices due to a fundamentally narrower demand profile. While that marks a modest rebound, palladium remains far below its peaks from a few years ago. The primary issue is softening demand. Over 85–90% of palladium's use is in catalytic converters for gasoline cars, a segment that remains under pressure as EV sales accelerate. Source: MetalMiner Insights Even within combustion vehicles, some automakers are reducing palladium loadings or substituting platinum to cut costs. On the supply side, palladium had faced chronic deficits for much of the past decade. However, that seems to be changing. After 13 years of shortfalls, 2025 is forecast to be roughly balanced in palladium supply and demand. Unless an unexpected supply disruption occurs (for instance, mining issues or sanctions affecting top producer Russia), palladium is likely to remain range-bound. Some downward pressure could even re-emerge if auto production weakens further. Procurement teams with palladium needs may want to adopt a more hand-to-mouth buying approach or look into substitution strategies, topics frequently covered in MetalMiner's free knowledge resources. Platinum has been a standout performer in the precious complex, with prices climbing significantly month-over-month. Unlike gold and silver, platinum's strength is heavily tied to supply and fabrication demand dynamics. On the supply side, the platinum market is swinging into a significant deficit this year. Leading analysts at Johnson Matthey project that platinum supply will fall short for a third consecutive year in 2025. This constrained supply, coupled with only modest recycling flows, continues to tighten the market. Metals strategists generally expect platinum to hold and potentially extend its previous gains. 'Platinum will retain recent gains and could rise a little further as gold and silver gain,' notes one analyst, emphasizing the metal's diversified demand base as outlined by Reuters. Silver prices have surged even more dramatically, outpacing gold in recent weeks. July COMEX silver futures mirrored this rise, with only minimal spread versus spot, indicating robust near-term demand. The Silver Institute forecasts the 2025 deficit at about 118 million ounces, which is only slightly narrower than last year. However, any reversal in gold or a resurgence of the dollar could cap silver's gains short-term. U.S. gold futures for August delivery have largely tracked spot prices, recently settling in the same range: a slight contango reflecting carrying costs. Over the past month, gold gained roughly 5%, and it's up an astounding ~45% from a year ago. Source: MetalMiner Insights. To get specific price points without overpaying for unnecessary data, learn about MetalMiner Select. Like other precious metals prices, a softer economic outlook and ongoing dollar weakness have added momentum to the gold index. On the demand side, central banks continue a buying spree, providing the metal with a firm floor. In Q1 2025, global central bank purchases hit a quarterly record of 244 tonnes, putting this year on track for ~1,000 tonnes again. This 'insatiable' official sector demand, along with resilient jewelry and investment buying, continues to offset stable mine output. Looking ahead two months, most analysts expect gold to remain elevated in the high-$3,200s to $3,400 range. Analyst sentiment is not only bullish, but major banks have been racing to raise their gold forecasts based on its 2025 performance thus far. By The MetalMiner Team More Top Reads From this article on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
16 hours ago
- Automotive
- Bloomberg
Foreign Automakers' Share in China Is Only Set to Dwindle
The picture for foreign automakers in China doesn't get any rosier with new research from consultant AlixPartners showing local brands' dominance will climb to as high as 76% by 2030 as the market share of Japanese, European and US companies dwindles. And despite persistent competitive pressures, the nation's aggressive car price war is expected to evolve, rather than abate.
