Tariff Tracker, May 12: An Agreement with China
The temporary agreement is seen as a potential breakthrough for negotiations with multiple countries. In what is being described as a major trade breakthrough, the U.S. and China have agreed to slash tariffs for 90 days while both sides negotiate a new agreement. The decision has pushed stocks up on Monday, and is a solid beginning to what may be a long-term agreement. Chris Kuehl, Managing Partner and Co-Founder of Armada, tells us that while some questions remain, a long-term agreement will go a long way toward helping American manufacturing. Tariff Tracker, May 12: An Agreement With China – electrifiED
Hyundai celebrated the opening of its new $7.6 billion electric vehicle factory in Georgia on Wednesday by announcing plans to expand its production capacity by two-thirds to a total of 500,000 vehicles per year. The newly announced Georgia expansion is part of $21 billion in U.S. investments over the next three years that Hyundai announced at the White House. Hyundai began producing EVs just shy of six months ago at its sprawling manufacturing plant in southeast Georgia. More than 1,200 people are working there. Hyundai employees worked the assembly line alongside hundreds of robots that stamp sheets of steel into fenders and door panels, weld and paint auto bodies and even park finished vehicles awaiting their final inspections.