Rivian, Lucid Brace for a Rough Ride as EV Headwinds Intensify
Warning! GuruFocus has detected 5 Warning Signs with RIVN.
The Trump administration has reshaped the EV landscape ending consumer tax credits; imposing steep tariffs on imported auto parts; and scrapping emission fines for gas?vehicle makers. China's tighter export limits on heavy rare earth metals critical for EV motors have only made things worse; supply chains are straining under the weight.
For Rivian, that's meant higher costs and shrinking side income from selling regulatory credits. The company now expects a deeper adjusted core loss of $2 billion to $2.25 billion this year; that's up from its prior $1.7 billion to $1.9 billion range. Per?unit costs jumped 8% to about $118,375; lower production added roughly $14,000 per vehicle. A three?week production pause in September will prepare its lower?priced R2 SUV for a 2026 launch; management says the model is key to reaching a wider audience.
Lucid avoided the worst of the rare?earth crunch by tapping into existing magnet inventory; still, tariffs have eaten into margins. The luxury EV maker cut its annual production goal; it also warned of softer demand in Q4 once the $7,500 federal tax credit expires at the end of September. Analysts expect a rush of Q3 sales as buyers race to lock in the incentive; the risk is that the pull?forward leaves a hole later in the year.
This article first appeared on GuruFocus.
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- New York Times
Live Updates: U.S. Tariffs To Take Effect, a New Step in Trump's Trade War
President Trump has called the word tariff 'the most beautiful word in the dictionary.' He imposed hefty tariffs during his first term and promised expansive new ones as he pursued his second. On his first day back in the White House, he issued an executive order signaling that more tariffs were coming, and in April he unveiled expansive levies that touched almost every country on earth. It's been hard to keep track of the state of tariffs ever since. Mr. Trump has frequently issued updates over social media, threatening new tariffs on countries and companies alike, leveraging them to insert himself into foreign affairs and celebrating 'deals' that were often far from complete. Mr. Trump's strategy has upended diplomatic ties, shaken markets and confounded entire industries. The tariffs target nations that supply a wide variety of goods to the United States, and Americans are likely to see higher prices on cars, electronics, groceries, liquors, lumber and gas. And Mr. Trump's tariff campaign shows no signs of slowing down. On July 27, the European Union and the United States reached a preliminary trade deal after weeks of negotiations. On Aug. 1, he is set to impose another round of taxes on imports from many countries, including Canada and Mexico. Here's a timeline of President Trump's widening — and constantly shifting — tariffs. Jan. 20 🇨🇦 🇲🇽 Hours after he was sworn in, Mr. Trump announced that he would implement additional 25 percent tariffs on imports from Canada and Mexico starting on Feb. 1, accusing both countries of not doing enough to stop the flow of drugs and migrants into the United States. Read more › Jan. 26 🇨🇴 Surprising even some of his own staff members, Mr. Trump announced on social media that he would immediately impose 25 percent tariffs on all goods from Colombia — and would raise them to 50 percent in one week — after its government turned back planes carrying deported immigrants. Colombia's president, Gustavo Petro, briefly threatened tariffs of his own. But he quickly backed down, and soon so did Mr. Trump. That evening, the White House released a statement saying the government of Colombia had 'agreed to all of President Trump's terms' and the 'tariffs and sanctions will be held in reserve.' Read more › Feb. 1 🇨🇦 🇲🇽 🇨🇳 Mr. Trump signed an executive order imposing 25 percent tariffs on nearly all goods from Canada and Mexico, and a 10 percent tariff on China. The president said the tariffs were levied in response to his concerns about fentanyl smuggling and illegal immigration. Canada and Mexico said they would retaliate with tariffs of their own. China threatened 'countermeasures.' Read more › Video transcript Back bars 0:00 / 1:06 - 0:00 transcript Trudeau Announces Retaliatory Tariffs Against the U.S. Prime Minister Justin Trudeau of Canada laid out plans to impose more than $100 billion in retaliatory tariffs against the United States, and made clear that Canada was doing so reluctantly. I want to speak directly to Americans, our closest friends and neighbors. This is a choice that, yes, will harm Canadians, but beyond that, it will have real consequences for you. Tariffs against Canada will put your jobs at risk, potentially shutting down American auto assembly plants and other manufacturing facilities. They will raise costs for you, including food at the grocery stores and gas at the pump. We don't want to be here. We didn't ask for this. But we will not back down in standing up both for Canadians and for the incredible, successful relationship and partnership between Canada and the United States. Prime Minister Justin Trudeau of Canada laid out plans to impose more than $100 billion in retaliatory tariffs against the United States, and made clear that Canada was doing so reluctantly. Credit Credit... Justin Tang/The Canadian Press, vía Associated Press Feb. 2 🌎 Facing widespread criticism over his tariff threats and their possible consequences for the economy, Mr. Trump acknowledged the possible negative consequences of the tariffs on social media. 'WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!),' he said. Feb. 3 🇨🇦 🇲🇽 🇪🇺 Mr. Trump agreed to a 30-day pause of his tariffs on Mexico and Canada while at the same time threatening new tariffs against the European Union. Read more › Video Credit Credit... Mexican Government TV via Reuters Feb. 4 🇨🇳 Mr. Trump's 10 percent tariffs on Chinese imports went into effect, and China responded with a series of retaliatory steps, including additional tariffs on products from the United States. Read more › Feb. 7 🌎 Mr. Trump said he would broaden his trade war and introduce reciprocal tariffs on other countries but did not specify which countries would be affected. Read more › Feb. 10 🌎 Mr. Trump resurrected a 25 percent tariff on all foreign steel and aluminum, restarting an old fight from his first term. Read more › Feb. 13 🌎 Mr. Trump described a plan for broad reciprocal tariffs on America's trading partners, moves that would represent a dramatic overhaul of the global trading system. The goal, he said, was to force companies to bring manufacturing back to the United States. Read more › Feb. 14 🌎 Mr. Trump said he would proceed with a plan to impose unspecified tariffs on foreign cars on April 2. He said he had planned to announce the tariffs April 1, which is April Fools' Day, but pushed it because he was 'a little superstitious.' Read more › Feb. 25 🌎 An executive order directed Mr. Trump's commerce secretary, Howard Lutnick, to investigate whether foreign production of copper posed a risk to national security, raising the prospects of tariffs on the material. White House officials did not share how much those tariffs would be, or when the inquiry could conclude. Read more › Feb. 27 🇨🇦 🇲🇽 🇨🇳 The president said the tariffs against Canada and Mexico — and an additional 10 percent tariff on Chinese goods — would go into effect on March 4 'as scheduled.' He said on social media that the action was necessary because 'Drugs are still pouring into our Country from Mexico and Canada at very high and unacceptable levels,' a claim not always supported by U.S. government reports. Read more › March 1 🇨🇦 Mr. Trump directed Mr. Lutnick to investigate whether imports of lumber threaten American national security. The results of the inquiry could lead to more tariffs on Canada, the largest exporter of wood to the United States. Read more › March 4 🇨🇦 🇲🇽 🇨🇳 Tariffs on imports from Canada, Mexico and China — the largest U.S. trading partners — went into effect. Prime Minister Justin Trudeau of Canada responded with tariffs of 25 percent on $155 billion of American goods. Read more › Video transcript Back bars 0:00 / 1:09 - 0:00 transcript The United States launched a trade war against Canada, their closest partner and ally, their closest friend. At the same time, they're talking about working positively with Russia, appeasing Vladimir Putin, a lying, murderous dictator. Make that make sense. Canadians are reasonable and we are polite, but we will not back down from a fight. Not when our country and the well-being of everyone in it is at stake. At the moment, the U.S. tariffs came into effect in the early hours of this morning, and so did the Canadian response. Canada will be implementing 25 percent tariffs against $155 billion worth of American goods, starting with tariffs on $30 billion worth of goods immediately, and tariffs on the remaining $125 billion of American products in 21 days time. Credit Credit... CTV, via Associated Press March 5 🇨🇦 🇲🇽 Under fire from U.S. automakers, Mr. Trump said he would pause tariffs on cars coming into the United States from Canada and Mexico for one month. The announcement came after he held a call with representatives from General Motors, the Ford Motor Company and Stellantis. In a news conference, President Claudia Sheinbaum of Mexico said that if tariffs remained in place, the Mexican government would announce retaliatory measures on March 9. Video Credit Credit... Mexico Government TV, via Reuters March 6 🇨🇦 🇲🇽 Just as they were in Mr. Trump's first term, many of the tariffs placed on Canadian and Mexican products are suspended. Mr. Trump said that his reversal on tariffs he had framed as vital to America's security had 'nothing to do with the market' after the tariff news sent shock waves through the economy. He said he would still impose 25 percent tariffs on imports of steel and aluminum on March 12, and that reciprocal tariffs on all U.S. trading partners were still on track for April 2. Read more › March 10 🇨🇳 🇨🇦 The Chinese government began imposing tariffs on many farm products from the United States. The tariffs included an additional 15 percent on American farm products like chicken and corn, and a 10 percent on products like soybeans and fruit. Ontario, Canada's most populous province, announced its own tariffs, including a 25 percent surcharge on the electricity exported to Michigan, Minnesota and New York. Read more › March 11 🇨🇦 Furious at what he labeled an 'abusive threat from Canada,' Mr. Trump threatened to double tariffs on Canadian steel and aluminum imports in response to the electricity surcharge. Both sides backed down after several hours. Doug Ford, the premier of Ontario, said he would suspend the electricity surcharge, and Mr. Trump said he would 'probably' reduce the tariff on Canadian metals. Read more › March 12 🇨🇦 🇪🇺 The European Union and Canada announced billions of dollars in retaliatory tariffs on U.S. goods, but European leaders said they would hold back on their tariffs until April 1 — making it clear that they would prefer not to enact them, and would like to negotiate with Mr. Trump instead. 'Tariffs are taxes,' said Ursula von der Leyen, the president of the European Commission, the bloc's executive arm. Read more › March 13 🇪🇺 Citing the European Union's plans for 50 percent tariffs on U.S. whiskey and several other American products, set to kick in on April 1, Mr. Trump floated one of his largest tariff threats to date: a 200 percent charge on all wines, Champagnes and alcoholic products from the E.U.'s member nations. Read more › March 24 🌎 Countries who purchase oil from Venezuela — either directly or from a third party — faced tariffs of 25 percent on their exports to the United States, to begin on or after April 2. Read more › March 26 🌎 Mr. Trump said he would impose a 25 percent tariff on all cars and car parts shipped into the United States, including American brands assembled overseas. Read more › Video transcript Back bars 0:00 / 1:38 - 0:00 transcript World Leaders React to Trump's Auto Tariffs President Trump's announcement of 25 percent tariffs on imported cars and auto parts prompted world leaders to rebuke the decision. 'It's my solemn promise that when President Trump threatens us again, we will fight back. We will fight back with everything we have to get the best deal for Canada.' President Trump's announcement of 25 percent tariffs on imported cars and auto parts prompted world leaders to rebuke the decision. Credit Credit... Nic Antaya for The New York Times April 2 🌎 A 10 percent tariff was applied to all nations importing goods to the United States — unless a tariff had already been announced on a product or industry. But that base line 10 percent was to be supplemented in certain cases by additional reciprocal tariffs that vary by nation. That meant dozens of countries, including many U.S. allies, faced tariffs far higher than they expected. Read more › Video transcript Back bars 0:00 / 1:17 - 0:00 transcript Trump Announces Tariffs on Global Trading Partners During a news conference, President Trump announced that he would impose a baseline 10 percent tariff on all trading partners, as well as double-digit 'reciprocal tariffs' on dozens of other countries. This is one of the most important days, in my opinion, in American history. It's our declaration of economic independence. Jobs and factories will come roaring back into our country. China — first row, China 67 percent, that's tariffs charged to the U.S.A., including currency manipulation and trade barriers. So 67 percent, so we're going to be charging a discounted reciprocal tariff of 34 percent, I think. In other words, they charge us, we charge them. We charge them less. So how can anybody be upset? They will be because we never charge anybody anything. But now we're going to charge. European Union, they're very tough, very, very tough traders. You think of European Union, very friendly. They rip us off. It's so sad to see. It's going to be 'Liberation Day' in America. And it's going to be a day that hopefully you're going to look back in years to come and you're going to say, you know, he was right. This has turned out to be one of the most important days in the history of our country. During a news conference, President Trump announced that he would impose a baseline 10 percent tariff on all trading partners, as well as double-digit 'reciprocal tariffs' on dozens of other countries. Credit Credit... Doug Mills/The New York Times April 4 🇨🇳 China's Finance Ministry announced a 34 percent tariff on imports from the United States, matching Mr. Trump's plans for 34 percent tariffs on exports from China. The Chinese Commerce Ministry also barred a group of 11 American companies from doing business in China. Read more › April 5 🇻🇳 Vietnam asked Mr. Trump to delay imposing tariffs for at least 45 days. The United States is Vietnam's largest export market, and the 46 percent tariff rate was among the highest any country faced. Read more › April 7 🇧🇩🇨🇳 Bangladesh asked for a three-month reprieve before any tariffs would be imposed on its exports to the United States. Read more › Mr. Trump threatened to counter Beijing's retaliatory tariffs with an additional 50 percent tariff on China. Those tariffs would be additive, meaning that China could face 104 percent taxes on all exports. Read more › Video Lin Jian, the spokesman for the Chinese Foreign Ministry, accused the United States of 'economic bullying' after President Trump threatened an additional 50 percent tariff on Chinese imports. Credit Credit... Associated Press April 9 🌎 Mr. Trump's punishing tariffs on some of America's biggest trading partners took effect. Chinese goods were subject to a 104 percent tariff, European goods faced a 20 percent import tax, Japanese goods were taxed 24 percent and Vietnamese products 46 percent. China responded with an additional 50 percent tariff on U.S. goods, meaning they faced an additional 84 percent import tax. China's new tariffs took effect 12 hours after Mr. Trump's tariffs went into place. Read more › The European Union also approved new tariffs against the United States, to take effect the following week. Read more › Video transcript Back bars 0:00 / 1:37 - 0:00 transcript Trump Pauses 'Reciprocal' Tariffs for Most Countries President Trump decided to pause his 'reciprocal' tariffs on most countries, excluding China, just hours after they went into effect. 'Hello, everybody.' [clapping] 'Can you walk us through your thinking about why you decided to put a 90-day pause.' 'Well, I thought that people were jumping a little bit out of line. They were getting yippy, you know. They were getting a little bit yippy, a little bit afraid.' 'Well, I'm not calling it a trade war, but I am saying that China has escalated, and President Trump responded very courageously to that. And we are going to work on a solution with our trading partners. You might even say that he goaded China into a bad position. They responded — they have shown themselves to the world to be the bad actors. And we are willing to cooperate with our allies and with our trading partners who did not retaliate. It wasn't a hard message. Don't retaliate. Things will turn out well.' [unclear] 'I'll take a look at this. As time goes by, we're going to take a look at it. There are some that have been hard. There are some that, by the nature of the company, get hit a little bit harder. And we'll take a look at that.' [unclear] 'Just instinctively, more than anything else. I mean, you almost can't take a pencil to paper. It's really more of an instinct, I think, than anything else.' President Trump decided to pause his 'reciprocal' tariffs on most countries, excluding China, just hours after they went into effect. Credit Credit... Eric Lee/The New York Times … later on April 9 🌎 In an abrupt reversal, Mr. Trump said he would back down on his reciprocal tariffs for the next 90 days, bringing tariff levels to a universal 10 percent. China would not be included in that pause, he said. Instead, he raised tariffs on its exports to 125 percent after Beijing announced a new round of retaliation. April 10 🇨🇳🇪🇺 The White House clarified that the 125 percent tariff on Chinese goods was in addition to a 20 percent tariff that Mr. Trump had already imposed on China, bringing the total tariffs on China imposed by the Trump administration to 145 percent. The European Union announced a plan to pause its own reciprocal tariffs in response to Mr. Trump's reversal. Read more › April 11 🌎 Mr. Trump issued a ruling that spared many electronics — including smartphones, computers, semiconductors and routes and modems — from some new tariffs. The long list of imports, which include Chinese products, would be exempt from reciprocal tariffs, but other levies would still apply. Read more › April 13 🌎 The electronics exceptions announced on April 11 were recast as temporary by Mr. Trump and his top aides. Mr. Trump said he would be pursuing new tariffs on computer chips. Read more › April 29 🌎 Mr. Trump signed two executive orders that reversed course on some tariffs for carmakers. The 25 percent tariffs were modified so they would not be 'stacked' with other tariffs such as those on steel and aluminum, a White House official said. Read more › Video transcript Back bars 0:00 / 0:50 - 0:00 transcript U.S. and British Leaders Celebrate Agreement on Trade Framework President Trump and Prime Minister Keir Starmer announced an agreement for a trade framework over speakerphone. 'With this deal, the U.K. joins the United States in affirming that reciprocity and fairness is an essential and vital principle of international trade. We really do, we have a great relationship. I want to just say that the representatives of U.K. have been so professional, and it's been an honor doing business with all of them, and in particular the prime minister. And I'd like to introduce him now to say a few words. Mr. Prime Minister, please take it away.' 'Thank you, Mr. President — Donald — and this is a really fantastic historic day in which we can announce this deal between our two great countries. And I think it's a real tribute to the history that we have of working so closely together.' President Trump and Prime Minister Keir Starmer announced an agreement for a trade framework over speakerphone. Credit Credit... Eric Lee/The New York Times May 8 🇬🇧 The United States and Britain reached a deal that would reduce tariffs on some imports. Under the agreement, Britain would drop its tariffs on some U.S. products and the United States would pare back tariffs on cars and steel, while keeping a 10 percent levy in place for all British exports. But the deal has not been finalized, and there could be weeks of negotiations to come. Read more › May 12 🇨🇳 The White House agreed to back off, for now, from its steepest tariffs against China. Under the agreement, the United States would cut tariffs on Chinese imports to 30 percent from 145 percent, and China would reduce its levies on American goods to 10 percent from 125 percent. Read more › May 23 🇪🇺 In a post on social media, Mr. Trump threatened higher tariffs on the European Union, saying that discussions 'are going nowhere.' He recommended a 50 percent tariff on European imports that would begin June 1. Read more › May 25 🇪🇺 After a phone call with Ursula von der Leyen, the president of the European Commission, Mr. Trump said he would delay imposing his threatened 50 percent tariffs on all imports from the European Union until July 9 to allow more time for trade negotiations. Read more › May 30 🌎 Speaking to steelworkers near Pittsburgh, Mr. Trump pledged to double tariffs on steel to 50 percent, from 25 percent. He also endorsed a 'planned partnership' between U.S. Steel and Nippon Steel before conceding that he had not seen or signed off on the details of the deal. Read more › June 4 🌎 Tariffs on steel and aluminum imports rose to 50 percent from 25 percent just after midnight. The White House said the increase would address 'trade practices that undermine national security.' Read more › June 16 🇬🇧 The United States and Britain finalized their trade agreement to lower tariffs on British cars, steel and aluminum, and aerospace equipment. Read more › June 27 🇨🇳 China confirmed the details of a trade framework with the Trump administration a day after Mr. Trump said his administration had 'signed' a deal with China. The deal, China's Ministry of Commerce said, would loosen exports of rare earth minerals to the United States and lift some restrictions on U.S. goods to China. Read more › July 2 🇻🇳 The United States agreed to a trade deal with Vietnam that would indirectly affect China, an important trading partner of Vietnam. The provision, Mr. Trump said, would impose a 20 percent tariff on all imports and a 40 percent tariff on any 'transshipping.' Read more › Video transcript Back bars 0:00 / 1:00 - 0:00 transcript Trump Says Countries Will Receive Letters About New Tariffs Speaking to the press after arriving at Joint Base Andrews, President Trump said the tariffs would range from 10 to 70 percent. 'It's a lot of money, but we're giving them a bargain,' Mr. Trump said. Reporter: 'For countries that don't get a letter right away and that you haven't made a deal —' 'No, we're going to start sending letters out to various countries starting tomorrow. We'll probably have 10 or 12 go out tomorrow and over the next few days, I think by the 9th they'll be fully covered and they'll range in value from maybe 60 or 70 percent tariffs to 10 and 20 percent tariffs.' And it's very important. It's a lot of money for the country. But we're giving them a bargain. Because if I went by the true deficits or by other ways of measuring, it could be a lot more. We don't want to, I don't want to stretch it too much. We want to keep it pretty reasonable. And I think it's actually I think it's very reasonable.' Speaking to the press after arriving at Joint Base Andrews, President Trump said the tariffs would range from 10 to 70 percent. 'It's a lot of money, but we're giving them a bargain,' Mr. Trump said. Credit Credit... Haiyun Jiang/The New York Times July 9 🌎 Mr. Trump informed at least 21 countries that their exports will face tariffs of at least 20 percent starting Aug. 1 unless they reach new trade deals with the United States. He threatened to raise rates further if countries tried to evade the U.S. duties or retaliated with their own import taxes. Read more › He also issued a 50 percent tariff on copper, effective Aug. 1. The move sent U.S. copper prices surging, and has caused concern in some of the industries Mr. Trump has said he wants to protect. Read more › Mr. Trump also said he planned to impose a 50 percent tariff on all Brazilian imports. President Luiz Inácio Lula da Silva of Brazil promised to reciprocate. Read more › July 11 🇪🇺🇲🇽 Months of careful negotiations were upended when Mr. Trump said he would place a 30 percent tariff on goods from the European Union and Mexico. The tariffs would take effect on Aug. 1, he said in two letters posted on social media. He threatened to raise those rates even higher should the E.U. or Mexico issue retaliatory tariffs. Read more › July 14 🇪🇺 Maros Sefcovic, the European Union's key negotiator, said that Mr. Trump's about-face on tariffs was disappointing given he felt that the two sides were 'very close to an agreement.' Mr. Sefcovic spoke with his American counterparts almost every day last week, he said, and Mr. Trump's letter created 'a whole different dynamic.' Read more › President Claudia Sheinbaum of Mexico said her country is hoping to reach an agreement with the United States before Aug. 1. 'We do our part; they have to do their part as well,' she said. Read more › July 16 🇮🇩 Indonesia agreed to roll back multiple trade barriers to reach an agreement with the United States. U.S. exports to Indonesia would not be charged tariffs, and Indonesian goods would face a 19 percent tariff in the United States. 'We understand their interests, and they understand ours,' President Prabowo Subianto of Indonesia said. Read more › July 22 🇯🇵 In a social media post, Mr. Trump said he had reached a trade deal with Japan, calling it 'perhaps the largest deal ever made.' The Japanese government agreed to invest $550 billion in the United States, with the U.S. government receiving 90 percent of the profits. Japanese exports to the country would be charged a 15 percent tariff, instead the 25 percent tariff threatened by Mr. Trump. Read more › Video transcript Back bars 0:00 / 1:04 - 0:00 transcript U.S. and Europe Reach Preliminary Trade Deal With 15% Tariffs The deal, which would set a 15 percent tariff on most E.U. goods, averted what could have become a painful trade war with the United States' biggest source of imports. 'We are agreeing that the tariff straight across for automobiles and everything else will be a straight-across tariff of 15 percent.' 'Indeed, basically, the European market is open. It's 450 million people. So, it's a good deal. It's a huge deal. It was tough negotiations. I knew it at the beginning and it was indeed very tough. But we came to a good conclusion for both sides.' 'I think it's great that we made a deal today instead of playing games and maybe not making a deal at all. I think it's a — I'm going to let you say, but I think it's the biggest deal ever made. Thank you very much. Congratulations.' [clapping] The deal, which would set a 15 percent tariff on most E.U. goods, averted what could have become a painful trade war with the United States' biggest source of imports. Credit Credit... Tierney L. Cross/The New York Times July 27 🇪🇺 The United States and the European Union reached a trade deal that set a 15 percent base tariff on most E.U. exports, including cars. Mr. Trump said that the European Union had agreed to increase its investment in the United States by more than $600 billion and to purchase $750 billion of American energy. The sides also agreed to drop tariffs to zero on some goods, including aircraft, certain chemicals and generic drugs, and some agricultural products, said Ursula von der Leyen, the president of the European Commission, the bloc's executive arm. The agreement will 'rebalance, but enable trade on both sides,' she said. Read more › July 30 🇮🇳🇧🇷🇰🇷🇹🇭🇰🇭 Mr. Trump announced that imports from India to the United States would be subjected to a 25 percent tariff as of Aug. 1, and he berated India over trade barriers and its purchases of energy and military equipment from Russia. Read more › The United States also applied tariffs of 50 percent on Brazilian goods two days ahead of schedule and issued sanctions on the Brazilian judge who is overseeing the criminal case against former President Jair Bolsonaro, an ally of Mr. Trump. Read more › At the end of the day, Mr. Trump announced a trade deal with South Korea that placed 15 percent tariffs on South Korean goods. As part of the agreement, South Korea committed to investing $350 billion in the United States and will spend $100 billion on liqufieid natural gas. More announcements will be made when South Korea's president, Lee Jae Myung, visits Washington in two weeks, Mr. Trump said. Read more › Thailand and Cambodia also reached trade agreements with the United States, Commerce Secretary Howard Lutnick said on Wednesday night. He declined to elaborate on details of the new tariff rates. Both nations had been facing a potential tariff rate of 36 percent. Read more › July 31 🇲🇽 Mexico was granted a 90 day extension to try and reach a trade deal, Mr. Trump said after having a phone call with President Claudia Sheinbaum of Mexico. The agreement came on the eve of Mr. Trump's Aug. 1 tariff deadline. Read more › … later on July 31 🌎 The White House issued a long list of new tariffs hours before the Aug. 1 trade deadline. Switzerland will face a 39 percent tariff, while Syria, Laos and Myanmar will face rates of up to 41 percent. Read more › The new tariffs apply to dozens of nations and will take effect on Aug. 7. Most of those nations will face tariffs between 15 and 50 percent. Read more ›
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Jiayin Group Inc. Releases 2024 Environmental, Social and Governance (ESG) Report
SHANGHAI, China, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Jiayin Group Inc. ('Jiayin' or the 'Company') (NASDAQ: JFIN), a leading fintech platform in China, today published its 2024 Environmental, Social, and Governance (ESG) Report. This publication, the Company's fourth ESG report, highlights Jiayin's ongoing commitment to corporate sustainability, ethical business practices, and transparent governance. In 2024, guided by sustainable development, Jiayin strengthened its foundation through governance optimization, redefined service boundaries through technological innovation, and united ecosystem synergy through shared responsibility. We advanced the fintech industry toward greater intelligence, security, and inclusiveness, generating long-term value for all stakeholders. The Report is prepared in accordance with the Global Reporting Initiative's Sustainability Reporting Standards (GRI Standards), with reference to Nasdaq's ESG Reporting Guide 2.0. To download the full report in English or Chinese, please visit the ESG section of the Company's investor relations website at: About Jiayin Group Group Inc. is a leading fintech platform in China committed to facilitating effective, transparent, secure and fast connections between underserved individual borrowers and financial institutions. The origin of the business of the Company can be traced back to 2011. The Company operates a highly secure and open platform with a comprehensive risk management system and a proprietary and effective risk assessment model which employs advanced big data analytics and sophisticated algorithms to accurately assess the risk profiles of potential borrowers. For more information, please visit Safe Harbor / Forward-Looking StatementsThis announcement contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates' and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Potential risks and uncertainties include, but are not limited to, those relating to the Company's ability to retain existing investors and borrowers and attract new investors and borrowers in an effective and cost-efficient way, the Company's ability to increase the investment volume and loan facilitation of loans volume facilitated through its marketplace, effectiveness of the Company's credit assessment model and risk management system, PRC laws and regulations relating to the online individual finance industry in China, general economic conditions in China, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Stock Market or other stock exchange, including its ability to cure any non-compliance with the continued listing criteria of the Nasdaq Stock Market. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by the Company is included in the Company's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. For investor and media inquiries, please contact: Jiayin GroupMs. Emily LuEmail: ir@ while retrieving data Sign in to access your portfolio Error while retrieving data
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Sticker Mule partners with xAI to deploy Grok to 370 employees and millions of customers
Sticker Mule partners with xAI to deploy Grok to 370 employees and millions of customers AMSTERDAM, N.Y., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Sticker Mule will bring Grok to 370 employees and millions of customers worldwide. Implementation begins in August with Grok being deployed across all departments including engineering, marketing, finance, support and manufacturing. 'Everyone with an email at Sticker Mule is getting Grok, including many front line factory employees,' said Sticker Mule CEO, Anthony Constantino. 'We wanted to be among the first to implement Grok company-wide as we most trust xAI's capabilities.' The company will also begin implementing Grok-powered customer support and utilize Grok as its business brain to enhance decision-making. 'AI is going to beat up pure software businesses, but it will help innovators that sell physical products like Sticker Mule,' Constantino said. 'AI can't manufacture, but it will help innovators, like Sticker Mule, to reach feature parity with incumbent software platforms.' Sticker Mule recently entered the e-commerce market by launching Stores which has already helped sellers earn nearly $200,000 while in beta. Constantino expects AI to accelerate development of Stores and position it to challenge incumbents like Shopify. To supplement Stores, the company is also building a suite of business tools to further help its sellers including Give, an automated online giveaway platform, that was launched recently. Give automates giveaways to help sellers grow their Email and SMS marketing lists. Sticker Mule is also soon to release Notify, a full blown Email and SMS marketing platform that's in beta testing and other tools will follow. 'We believe, with xAI, we can likely double sales with minimal staff growth which will enable us to significantly improve compensation for our team and store sellers,' said Constantino. About Sticker Mule Sticker Mule is the best way to buy and sell custom merchandise, including stickers, t-shirts, magnets, buttons, labels, packaging, keychains, temporary tattoos, and an award-winning hot sauce. Founded in 2010, today we are powered by 1,200+ people in 30+ countries, with factories in New York, South Carolina and Italy. Press contact Paul Antonelli press@ A photo accompanying this announcement is available at
