
Jeep-Maker to Help Suppliers With Tariff Costs
Jeep owner Stellantis NV is willing to help its suppliers pay tariff costs to withstand the initial shock of US President Donald Trump's trade war. Bloomberg's David Welch outlines the plan from the automaker on "Bloomberg Open Interest." (Source: Bloomberg)

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Mexico's Sheinbaum to Defend Steel Industry If US Tariff Deal Fails
(Bloomberg) -- The US's top steel providers are racing to win exemptions from Donald Trump's steel tariffs. ICE Moves to DNA-Test Families Targeted for Deportation with New Contract The Global Struggle to Build Safer Cars At London's New Design Museum, Visitors Get Hands-On Access NYC Residents Want Safer Streets, Cheaper Housing, Survey Says The Buffalo Architect Fighting for Women in Design Canada's Prime Minister Mark Carney, Mexico's President Claudia Sheinbaum and Brazil's President Luiz Inacio Lula da Silva have sought to reach a deal with the White House, arguing that they should be treated differently than other countries in the world that were slammed by the US's 50% tariff. The three are responsible for about half of US steel imports. In Canada, the biggest foreign provider of steel to the US, Carney insisted that the talks were progressing, even as he characterized the higher tariffs as 'bad for American workers, bad for American industry.' Mexico's Sheinbaum, on the other hand, has said she could take measures as soon as next week if the talks fail. Both governments have called the measures illegal. Lula's government plans to continue its attempts to negotiate reduced steel tariffs and a reinstatement of trade quotas of the sort Trump agreed to during his first presidency, according to two people familiar with the situation who requested anonymity to discuss internal matters. Negotiations between Brazil and the US continue, and Lula's government sees no need to rush, the people said. Trump's move earlier this week to raise tariffs on steel and aluminum from 25% to 50% has upset the relationship with some of the US's biggest trade partners. Steel industry groups in Latin America have said that thousands of jobs could be affected, even while the governments in turn have insisted that a deal is possible. Mexico has sought to strike a deal with the US on the basis that the worldwide 50% tariff is unfair given its regional free trade agreement and because Mexico runs a steel trade deficit with the US. 'We don't think it's just or sustainable,' Sheinbaum said at a press conference Wednesday. 'We hope to reach an agreement, but if we don't manage, we will be announcing measures that are necessary to strengthen and protect our jobs.' Mexico's Economy Minister Marcelo Ebrard, who will travel to Washington on Friday for talks with US officials, said on Tuesday that Mexico has a 'Plan B' in the event that the heightened levy remains in place. 'We will present our arguments on Friday to exclude Mexico from this measure,' Ebrard said during an event in Mexico City. 'Urgent Measures' Canacero, the business group representing the Mexican steel industry, indicated it's already facing a hit from the prior steel duties. Mexico's steel exports had dropped off by about 50% in April and May, it said in a statement Tuesday. 'Mexican steel does not represent a threat to the US market,' the group said. 'We trust in the negotiations being carried out by the Economy Ministry and the urgent measures that will follow.' The industry group argued that the measures were making it less competitive relative to countries in Asia, and that the US existing trade surplus with Mexico in finished steel products of about $4 billion would increase in 2025. Brazilian industry group Aço Brasil said in a Wednesday statement that it was 'very concerned' about a tariff increase that will worsen the sector's already delicate global scenario. Brazilian and US trade officials formed a working group to discuss tariffs, and Lula's government will seek to 'deepen the dialogue and highlight that Brazil is not a problem for the US,' Vice President Geraldo Alckmin told reporters Wednesday. The Brazilian industry group said data shows that American-made steel cannot meet current demand, meaning the levies will have harmful effects on both Brazilian exporters and US industrial sectors. It called on the Brazilian government to push for the reestablishment of quotas to permit exports to the US without additional tariffs. --With assistance from Alex Vasquez, Andre Loureiro Dias, Brian Platt and Mathieu Dion. (Updates with information from Canada, Brazil throughout.) Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Is Elon Musk's Political Capital Spent? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Sign in to access your portfolio


Bloomberg
14 minutes ago
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Trump Administration Moves to Cut $4 Billion Funding for California's High-Speed Rail
President Donald Trump's administration said it is moving to cut roughly $4 billion of federal support from California's high-speed rail project, arguing that the long-delayed effort to connect Los Angeles to San Francisco via train has wasted taxpayer dollars. In a more than 300-page report, the Federal Railroad Administration cited a history of delays and rising costs and said the California High-Speed Rail Authority 'has conned the taxpayer out of its $4 billion investment' without a viable plan to finish the project on time. The state has 37 days to respond.


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15 minutes ago
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Everything We Expect Apple to Announce at WWDC25 on June 9
Apple is planning to completely rejigger the software on all its biggest products, from the iPhone and Mac all the way down to the Vision Pro. To promote this rapid maturation across the Apple ecosystem, every OS will reportedly experience a growth spurt and jump from whatever number it's on to '26,' according to Bloomberg. Apple's first major overhaul of all its software offerings in years may be more subtle than you might expect when they debut next week at WWDC25 on June 9 at 10 a.m. PT / 1 p.m. ET. Glassy and Translucent 'Solarium' Visual Redesign There's a whole host of visual changes coming to the alleged iOS 26, macOS 26 (reportedly dubbed 'Tahoe' in honor of the famed freshwater lake in the Sierra Nevada mountains), iPadOS 26, and all the rest. The most immediate differences are said to be purely visual. Bloomberg's Mark Gurman has suggested in multiple reports that iOS and the family of Apple's products will sport new bubbles inspired by the glassy, transparent windows found in the Vision Pro's visionOS. According to reports, this new look will be the new unifying theme for all of Apple's ecosystem. Several sources have referred to this design as 'Solarium,' effectively a sunroom that allows light to pass through at multiple angles. Imagine all your app icons with transparent or translucent, glass-like textures, and you probably won't be far from the mark next week. Despite the big talk, we don't expect it to be so outside the norm of what we had with iOS 18. The last big OS update included customizable app icons and widgets, and we expect those to remain if Apple takes the 'bubble' route with its new UX. Knowing Apple's normal slow pace of OS software updates, iOS 26 will likely be far less zany than Android 16's recent Material 3 Expressive redesign. Small Updates to Apple Apps Apple's smaller product portfolio, including CarPlay and tvOS, could bear many of these design elements. The Apple Watch interface may look different in the coming months with this upcoming software revamp. Apple may add more health and fitness features to its smartwatches, though the rumored 'AI Doctor,' which would offer insights based on the data your watch collects from you, may not receive its license to practice in time for WWDC25. More of Gurman's recent deluge of leaks suggested Apple may finally add more Mac features to iPadOS to make it far better at multitasking, beyond its current Stage Manager mode. Current reports from usually accurate sources don't exactly have us pounding at the gates of Apple Park to see what's in store. 9to5Mac reported this week the Messages app may finally be able to access an automated text translation similar to what's been around on Samsung Galaxy phones for the last two years. The Apple Music app may showcase the album art on your phone's lock screen while playing tunes. AI In More Places and Maybe With Help from Anthropic Not too long ago, just a single trip around the sun, Apple promised it would launch its big AI overhaul on iPhone, Mac, and practically every other device. Apple Intelligence was supposed to transform Siri from a know-nothing bonehead into a sophisticated chatbot capable of doing more than merely setting timers and alarms. After a year of bad—though often hilarious—AI summaries and limited use cases, numerous reports based on leaks from inside Apple suggest the company took a big step back from its AI ambitions. Gurman has suggested Apple may entice more outside AI companies beyond OpenAI, like Anthropic—the makers of Claude—to promote their models on Apple's software ecosystem. Apple may also offer its foundation models to third-party developers to let app makers design their own text summary machines. Gurman suggested Apple will stay mum about its AI snafu at WWDC25. The company had previously hinted we would have seen the AI-enhanced Siri before this summer, but now there's no sign it will arrive in 2025. Bloomberg said some people inside Apple hope to make up for lost time in 2026. By then, maybe we'll have AI features that move beyond the hype bubble and offer something truly useful. Bigger Gaming Push? We're expecting Apple to reveal a few unexpected surprises come June 9. There's a chance Apple could make another big push into gaming with a dedicated video game app on its devices. Reports suggest this app could incorporate Apple Arcade and the select few games that have been ported to Apple's ecosystem in recent years. It also could include achievement-like emblems for completing in-game tasks and leaderboards. Apple's visionOS 26 may also increase its gaming capabilities, perhaps with third-party controller connectivity. As much as we may want it, Apple probably won't offer its own first-party controllers or share details of any new hardware at all. Don't Expect the iPhone 17 Apple doesn't typically announce new hardware at WWDC25 and there's no indication that it will do so this year. If you want to see that rumored iPhone 17 Air or the rest of the iPhone 17 family, new Apple Watch, and AirPods, you'll have to sit on your hands until September, just like always.