Latest news with #CHIPs
Yahoo
6 days ago
- Business
- Yahoo
U.S. Tariffs Are a Big Win for Mexico, Report Finds
Tariffs are expected to push companies to bring manufacturing back to the U.S., but a new report said that automation will likely replace some of that job creation. While reshoring has created about 2 million U.S. jobs over the past decade and a half, manufacturing still accounts for only about 8% of the U.S. workforce. 'Nearshoring,' where production is moved to closer or more friendly countries, is seen as a more likely result of tariffs, with Mexico, Vietnam, and India expected to be big beneficiaries, a Bank of America report are set to be a big win for one North American country: Mexico. A new report from Bank of America showed that while higher import taxes pushed by President Donald Trump may bring some manufacturing back to the U.S., the policy is more likely to create even more production opportunities for nearby countries like Mexico. According to the BofA Global Research survey of 56 of the firm's analysts, only 20% of respondents expect that tariffs and other policy changes will result in significant 'reshoring,' where manufacturing that is based in another country is relocated to the U.S. Instead, nearly two in five said that relocation back to the U.S. is more likely to be "mild" and focused on specific sectors. 'Therefore, nearshoring, or friendshoring, appears much more likely to benefit from tariffs this time around,' the June 5 report said. 'Mexico is considered to be a net beneficiary from the [move] from cost efficiency to geopolitical risk management.' The report comes as Mexico has been subject to its own set of tariffs by the Trump administration, though some have been delayed. Trump has argued that tariffs will benefit the U.S. economy, namely that they will bring manufacturing back to the U.S. and reduce the U.S. trade deficit. However, the report showed that most reshoring is likely to occur in select industries like electronics, biotechnology, and metals and mining. Reshoring already has been happening, the report found, creating nearly 2 million U.S. manufacturing jobs over the past 15 years, with about half of that coming in the past five years. However, manufacturing jobs still only account for 8% of the U.S. workforce, down from 30% in the 1980s. That's thanks to higher tariffs introduced in Trump's first administration, along with job-creating legislative initiatives from former President Joe Biden's administration like the Inflation Reduction Act (IRA) and the Creating Helpful Incentives to Produce Semiconductors (CHIPs) Act. Most of the new manufacturing jobs in the U.S. are focused on electrical equipment, appliances, electric vehicle batteries, and computers, as well as transportation equipment like cars and airplanes, the report said. But advances in automation may undercut some job creation, it added. 'Since most of the reshoring will be concentrated in industrials and manufacturing, reshoring will not create a significant number of new jobs as those new production lines will be mostly automated,' the report said. What's more expected, especially in more labor-focused industries, is 'friendshoring' or 'nearshoring,' in which production is moved out of places like China and either closer to the U.S., or to places with better U.S. relations, the survey found. 'The United States-Mexico-Canada Agreement (USMCA) and geographical proximity makes Mexico a more straightforward potential beneficiary,' the report found. 'Additionally, Mexico should be a net beneficiary in transportation, food and beverages, restaurants, and homebuilders.' Other countries likely to benefit from this shift are Vietnam, Thailand, and India, the report found. Read the original article on Investopedia 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
Associated Press
07-04-2025
- Health
- Associated Press
Metopio Secures Growth Investment to Expand Data-Driven Solutions for Community Health
Metopio has secured a multi-million-dollar investment led by Plymouth Growth, that promises to transform how organizations uncover, understand, and act on critical community insights. This strategic funding marks a pivotal moment in broadening access to data, empowering healthcare and public health professionals to make faster, more informed decisions that directly impact community well-being. Metopio is not just another data platform—it's a community intelligence solution trusted by over 475 hospitals and public health departments, serving geographies representing more than 20 million people. By providing instant access to thousands of datasets covering every corner of the United States with built-in analytics and report generation, the company is breaking down the complex barriers that have traditionally prevented organizations from leveraging their most powerful resource: comprehensive, actionable data. 'Every dataset represents real lives, real communities, and real opportunities to drive meaningful change,' said Will Snyder, CEO and Co-Founder of Metopio. 'We know that healthcare leaders need to dig deep into the root causes of health conditions and our technology provides those insights at the speed of need. This investment isn't just about technology—it's about giving healthcare and public health professionals the tools to transform complex information into immediate, life-improving actions.' The platform's AI-integrated approach dramatically simplifies critical processes like Community Health Needs Assessments (CHNAs) and Community Health Improvement Plans (CHIPs). By automating tedious manual tasks, Metopio is freeing up professionals to focus on what truly matters: developing targeted interventions and strategies that can significantly improve health outcomes. Kathleen Kaulins, Investor at Plymouth Growth, sees Metopio as a catalyst for systemic change within healthcare. 'We understand that data can be overwhelming which is why Metopio stands out,' she explained. 'The platform is not just providing information—Metopio is a purpose-built data analytics tool that enables organizations to respond to pressing health challenges with unprecedented speed, precision, and confidence.' The newly secured capital will fuel an ambitious product roadmap, team expansion, and enhanced support capabilities. Metopio is poised to further its commitment to transforming how organizations harness data, with a clear vision of making valuable data and advanced analytics available to any user, regardless of their data training. As healthcare continues to evolve, Metopio is proving that purpose-built technology for community intelligence can not only improve operations but health outcomes. About Metopio Metopio provides powerful data analytics and visualization tools to help public and private sector leaders make informed decisions that drive community progress. With a focus on accessibility and ease of use, Metopio empowers organizations to transform complex data into meaningful insights. Its platform features automated CHA & CHIP workflows, instant community trend analysis, interactive maps, customizable dashboards, and intuitive report generation—helping public health leaders work smarter, faster, and more effectively. Based in Chicago, IL, Metopio is committed to fostering collaboration and improving public health outcomes. About Plymouth Growth Plymouth Growth invests in mid-continent B2B software and technology companies – with proven business models, rapid growth, and strong teams – that are ready to scale. The Plymouth team brings decades of experience as operators, advisors, and investors and understands that while metrics matter, it's people who are critical to growth. Based in Ann Arbor, MI, and actively investing out of its fifth fund, Plymouth Growth helps teams achieve smart, proven growth. SOURCE: Metopio Copyright Business Wire 2025. PUB: 04/07/2025 08:05 AM/DISC: 04/07/2025 08:05 AM
Yahoo
19-03-2025
- Business
- Yahoo
Our View: Young has to prove Trump wrong
Until President Donald Trump called the CHIPs Act a 'tremendous waste of money,' West Lafayette stood to be home to a global manufacturer and supplier of semiconductor devices. SK hynix would have packaged artificial intelligence products and supported the work of the Purdue University Research Foundation. To fulfill that mission — and bring from 3,000 to 5,000 jobs into Indiana — SK hynix was set to receive up to $458 million from the U.S. Department of Commerce while pledging to invest $3.87 billion in the state. This was arranged through an agreement that developed from the CHIPS and Science Act — the bipartisan act that was to serve as an offensive against China and other out-of-country producers. Among other Indiana beneficiaries: Naval Surface Warfare Center's Crane Division with a $238 million program to research and produce semiconductors for the Department of Defense, and Indiana's Heartland BioWorks Tech Hub was to receive about $51 million for biotech manufacturing, estimated to help create 9,000 new jobs and generate $2.6 billion in annual economic output when it's up and running. So no, Mr. President, CHIPs is not a waste of money for Hoosiers. Nor for other states; for example, Texas Republicans are defending CHIPS and Arizona has contracts that cannot be cancelled. But as Trump made the distasteful and inaccurate insult on March 7, he also spoke against the best practices steps that funding applicants had to show. 'It's very hard to qualify because they go by race, they go by gender, they go by all sorts of things,' Trump said. It would be hard, Trump maintained, for the government to verify where the money was spent. Clearly some DOGE functionary has been sorting through Congressional acts and searching for the words 'diversity,' 'gender' or 'race.' And that was enough to have Trump tell House Speaker Mike Johnson to find a way to kill CHIPS funding. Coincidentally perhaps, DOGE czar Elon Musk was reportedly interested in purchasing Intel, which was awarded $7 billion to manufacture semiconductors in four states including Ohio. On March 7, the stock price of Intel Corp. dropped from a high that morning of $21.10 to $20.37. That may not make a difference, as Intel had to agree to limit the capital to stockholders for three years under the CHIPs agreement. The price is back up to $25-plus. No one is implying, of course, that the elimination of government funding for the CHIPS act would lower the cash flow — lower than, say, Intel's 2024 drop — and value of semiconductor manufacturers, making it cheaper for outsiders to buy. That would be wild speculation. Instead, Hoosiers could focus on the likely battle for U.S. Sen. Todd Young, the Indiana Republican who was a driving force behind CHIPS. Young, who was reportedly blindsided by the president's remarks, has to explain and sell the promise of the act to Trump and Musk. Young has already started the effort by attempting to sell Trump on using the CHIPS Act to aid national economic security. Young must convince Musk and now congressional Trump loyalists that CHIPS awardees are making huge investments of their own money in securing thousands of jobs and taking work from China. It's a mission worthy of a battle.
Yahoo
07-03-2025
- Business
- Yahoo
Trump is bulldozing some Republicans' priorities. They should be nervous
During his address to a joint session of Congress, President Donald Trump attacked a piece of legislation meant to boost the manufacturing of semiconductors in the United States. 'Your CHIPS Act is a horrible, horrible thing,' he said. 'We give hundreds of billions of dollars and it doesn't mean a thing. They take our money and they don't spend it.' A Republican, Sen. Todd Young from Indiana, helped shepherd the bill's passage in 2022. Despite Trump's attacks, he still believes the president understands the need for the program. 'I think the President absolutely understands that we have to have resilient supply chains, and that our war fighters can't depend on China or other countries for critical inputs into that supply chain, including semiconductors,' Young told The Independent. 'We've been in touch with the administration about it,' he added. Young notably did not endorse Trump in 2024 despite coming from a solidly Republican state — though he has voted to confirm all of his nominees. Trump's criticism of Young's legislation is the latest example of how the president and his allies have at times actively worked against the priorities of Republican senators since he returned to office. At the same time, many Republicans have done little to push him to change course, a noticeable deviation from his first presidency. But Trump's aggressive bashing of Republican priorities could create a climate in which Republicans in swing states face tougher re-election prospects, which could ultimately cost the president his Senate majority, or reduce it significantly. Sen. Thom Tillis of North Carolina, another Republican supporter of the CHIPs and Science Act, said he needed to see whether companies like Apple would continue to invest in the United States without the CHIPs legislation, as Trump claims. Last week, Apple announced it would spend $500 billion in the United States. Earlier this week, Taiwan Semiconductor Manufacturing Co., the world's largest chip manufacturer, announced that it would invest $100 billion in the U.S. 'I need to figure out how some of these other investments that he suggested, you didn't need CHIPs and science, or the CHIPs act to actually get Apple to make the investment that they've announced recently,' Tillis said. 'I need to understand that better, because I, for one, think that the CHIPs Act, which I support, it has been helpful, not perfect, but helpful.' The 'Denali' debacle is yet another example of Trump being at odds with some of his Republican senators. During his joint address, Trump touted the renaming of 'Denali' to 'Mt. McKinley.' 'I renamed for a great president, William McKinley, Mount McKinley, again,' he said. 'Beautiful Alaska. We love Alaska.' But Sen. Lisa Murkowski of Alaska has filed legislation to keep the 'Denali' title for America's tallest mountain, insisting it's not a 'political issue.' 'Alaskans from every walk of life have long been advocating for this mountain to be recognized by its true name,' she said when announcing the legislation. On Thursday, Trump announced that he would delay impending tariffs on Canada and Mexico, which have caused volatility in U.S. markets. It's an issue that some Republicans have eyed with skepticism, including Sen. Susan Collins of Maine, who's warned that imposing tariffs would harm her home state. 'I know the President wants jobs, and I know the President wants a healthy, strong economy,' she told The Independent. 'I don't know that he fully appreciates how integrated the economies are in border states with Canada. People cross every single day.' The Trump administration also ruffled Republicans' feathers when Doug Collins, the secretary for Veterans Affairs, announced that his department would reduce staffing levels by 80,000. The cuts would bring back staffing levels to what they were before the Biden administration and before Congress passed legislation to offer support for U.S. service members exposed to toxic burn pits. Immediately, Sen. Jerry Moran, the top Republican on the Veterans Affairs Committee, criticized the effort in a statement on X. 'The VA is in need of reform but current efforts to downsize the department and increase efficiency must be done in a more responsible manner,' Moran said on Wednesday. The Trump White House dispatched Elon Musk, the head of its Department of Government Efficiency, to meet with Republicans in both the House and Senate on Wednesday. Trump's pivot on the Russian invasion of Ukraine — and his attacks on Ukrainian President Volodymyr Zelensky — have also rankled some Senate Republicans, who tend to support Ukraine more than Trump and House Republicans. On Thursday, Reuters reported that Trump planned to revoke the 'temporary protected status' of some 240,000 Ukrainians in the United States. Trump later told reporters he was 'looking at' the idea. Tillis, a supporter of Ukraine, told The Independent that he had to 'get to the detail so that we can actually respond.' When asked about the Trump administration's decision to cut off intelligence to Ukraine, Tillis made similar remarks on Wednesday. 'I just haven't got an answer, but it's absolutely essential, otherwise you're having them go dark on Russia movement,' he said. There are signs that Trump's team will punish Republicans who cross him. On Thursday, Arthur Schwartz, an ally of the president's son Donald Trump Jr., posted a survey from the Democratic-leaning Public Policy Polling showing Tillis losing in a hypothetical race against North Carolina's Democratic former governor Roy Cooper. But Tillis blew off Schwartz's implied threat to challenge him. 'I don't care if he's a friend or an associate with people in the White House, but people need to understand that entrepreneurs like [Schwartz] are the problem, not the solution,' Tillis told The Independent. 'We need adults in the room when we're talking about swing states like North Carolina, not somebody who felt good about posting a tweet today on PPP polls.' Tillis and Collins are both up for re-election in 2026 and will have tough races. Collins is in a solidly blue state and Tillis is in the biggest swing state of them all. Trump going after their priorities or putting additional tariffs that could hurt their economy could cost the GOP — and his legislative agenda — in the long term.
The Independent
07-03-2025
- Business
- The Independent
Trump is bulldozing some Republicans' priorities. They should be nervous
During his address to a joint session of Congress, President Donald Trump attacked a piece of legislation meant to boost the manufacturing of semiconductors in the United States. 'Your CHIPS Act is a horrible, horrible thing,' he said. 'We give hundreds of billions of dollars and it doesn't mean a thing. They take our money and they don't spend it.' A Republican, Sen. Todd Young from Indiana, helped shepherd the bill's passage in 2022. Despite Trump's attacks, he still believes the president understands the need for the program. 'I think the President absolutely understands that we have to have resilient supply chains, and that our war fighters can't depend on China or other countries for critical inputs into that supply chain, including semiconductors,' Young told The Independent. 'We've been in touch with the administration about it,' he added. Young notably did not endorse Trump in 2024 despite coming from a solidly Republican state — though he has voted to confirm all of his nominees. Trump's criticism of Young's legislation is the latest example of how the president and his allies have at times actively worked against the priorities of Republican senators since he returned to office. At the same time, many Republicans have done little to push him to change course, a noticeable deviation from his first presidency. But Trump's aggressive bashing of Republican priorities could create a climate in which Republicans in swing states face tougher re-election prospects, which could ultimately cost the president his Senate majority, or reduce it significantly. Sen. Thom Tillis of North Carolina, another Republican supporter of the CHIPs and Science Act, said he needed to see whether companies like Apple would continue to invest in the United States without the CHIPs legislation, as Trump claims. Last week, Apple announced it would spend $500 billion in the United States. Earlier this week, Taiwan Semiconductor Manufacturing Co., the world's largest chip manufacturer, announced that it would invest $100 billion in the U.S. 'I need to figure out how some of these other investments that he suggested, you didn't need CHIPs and science, or the CHIPs act to actually get Apple to make the investment that they've announced recently,' Tillis said. 'I need to understand that better, because I, for one, think that the CHIPs Act, which I support, it has been helpful, not perfect, but helpful.' The 'Denali' debacle is yet another example of Trump being at odds with some of his Republican senators. During his joint address, Trump touted the renaming of 'Denali' to 'Mt. McKinley.' 'I renamed for a great president, William McKinley, Mount McKinley, again,' he said. 'Beautiful Alaska. We love Alaska.' But Sen. Lisa Murkowski of Alaska has filed legislation to keep the 'Denali' title for America's tallest mountain, insisting it's not a 'political issue.' 'Alaskans from every walk of life have long been advocating for this mountain to be recognized by its true name,' she said when announcing the legislation. On Thursday, Trump announced that he would delay impending tariffs on Canada and Mexico, which have caused volatility in U.S. markets. It's an issue that some Republicans have eyed with skepticism, including Sen. Susan Collins of Maine, who's warned that imposing tariffs would harm her home state. 'I know the President wants jobs, and I know the President wants a healthy, strong economy,' she told The Independent. 'I don't know that he fully appreciates how integrated the economies are in border states with Canada. People cross every single day.' The Trump administration also ruffled Republicans' feathers when Doug Collins, the secretary for Veterans Affairs, announced that his department would reduce staffing levels by 80,000. The cuts would bring back staffing levels to what they were before the Biden administration and before Congress passed legislation to offer support for U.S. service members exposed to toxic burn pits. Immediately, Sen. Jerry Moran, the top Republican on the Veterans Affairs Committee, criticized the effort in a statement on X. 'The VA is in need of reform but current efforts to downsize the department and increase efficiency must be done in a more responsible manner,' Moran said on Wednesday. The Trump White House dispatched Elon Musk, the head of its Department of Government Efficiency, to meet with Republicans in both the House and Senate on Wednesday. Trump's pivot on the Russian invasion of Ukraine — and his attacks on Ukrainian President Volodymyr Zelensky — have also rankled some Senate Republicans, who tend to support Ukraine more than Trump and House Republicans. On Thursday, Reuters reported that Trump planned to revoke the 'temporary protected status' of some 240,000 Ukrainians in the United States. Trump later told reporters he was 'looking at' the idea. Tillis, a supporter of Ukraine, told The Independent that he had to 'get to the detail so that we can actually respond.' When asked about the Trump administration's decision to cut off intelligence to Ukraine, Tillis made similar remarks on Wednesday. 'I just haven't got an answer, but it's absolutely essential, otherwise you're having them go dark on Russia movement,' he said. There are signs that Trump's team will punish Republicans who cross him. On Thursday, Arthur Schwartz, an ally of the president's son Donald Trump Jr., posted a survey from the Democratic-leaning Public Policy Polling showing Tillis losing in a hypothetical race against North Carolina's Democratic former governor Roy Cooper. But Tillis blew off Schwartz's implied threat to challenge him. 'I don't care if he's a friend or an associate with people in the White House, but people need to understand that entrepreneurs like [Schwartz] are the problem, not the solution,' Tillis told The Independent. 'We need adults in the room when we're talking about swing states like North Carolina, not somebody who felt good about posting a tweet today on PPP polls.' Tillis and Collins are both up for re-election in 2026 and will have tough races. Collins is in a solidly blue state and Tillis is in the biggest swing state of them all. Trump going after their priorities or putting additional tariffs that could hurt their economy could cost the GOP — and his legislative agenda — in the long term.
