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04 August 2025
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Aug 04, 2025Manufacturing Net
NASHVILLE, Ark. – Cantex Inc., a manufacturer of electrical conduit, fittings and boxes, announced plans to invest $120 million to locate a new facility in Nashville, Arkansas.
The company expects the new facility, its first in Arkansas, to create 110 jobs and begin operations by the end of the year.
Cantex purchased an existing manufacturing facility previously operated by outdoor power products producer Husqvarna. The company plans to invest in new equipment and make upgrades to the facility to support the production of electrical products.
"This property will enable us to better serve our customers and support our long-term growth strategy," Cantex President Dave Merker said. "We look forward to integrating this new manufacturing facility into our operations and leveraging its potential to drive innovation and excellence."
Cantex expects the Nashville facility to play a key role in strengthening its national footprint in the electrical conduit and fittings industry.
Cantex started production more than 70 years ago. Today, the company offers a range of electrical conduit and fittings, elbows and non-metallic switch, outlet and ceiling boxes.
The company's products serve a broad spectrum of electrical distributors, contractors and end users across the U.S.
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Epa Cancels $7 Billion Biden-Era Grant Program To Boost Solar EnergyWASHINGTON (AP) — The Environmental Protection Agency on Thursday terminated a $7 billion grant program intended to help pay for residential solar projects for more than 900,000 lower-income U.S. households, in the latest Trump administration move hindering the nation’s shift to cleaner energy.
The funding, part of the Biden-era's Solar for All program, was awarded to 60 recipients including states, tribes and regions for investments such as rooftop solar and community solar gardens. Solar, a renewable energy, is widely regarded as a way to introduce cleaner power onto the electrical grid and lower energy bills for American consumers.
Under Republican President Donald Trump, officials have pursued dozens of deregulatory measures related to federal rules intended to protect clean air and water. Last week, the EPA proposed rescinding the agency’s “endangerment finding” which serves as the scientific and legal basis for regulating planet-warming greenhouse gas emissions.
The administration has taken steps to bolster fossil fuels such as coal, oil and natural gas as it pursues American "energy dominance in the global market.
EPA Administrator Lee Zeldin said in a statement on social media that authority for the solar program was eliminated under the tax-and-spending law signed by Trump last month. It eliminated the Greenhouse Gas Reduction Fund, approved under the 2022 Inflation Reduction Act, that set aside $20 billion for community development projects to boost renewable energy and an additional $7 billion for the solar program.
“The bottom line is this: EPA no longer has the statutory authority to administer the program or the appropriated funds to keep this boondoggle alive,″ Zeldin said. “Today, the Trump EPA is announcing that we are ending Solar for All for good, saving US taxpayers ANOTHER $7 BILLION!”
Sen. Bernie Sanders, I-Vt, who introduced the Solar for All program to cut electric bills for working families, said Zeldin’s action was illegal.
“Solar for All means lower utility bills, many thousands of good-paying jobs and real action to address the existential threat of climate change,″ Sanders said in a statement. ”At a time when working families are getting crushed by skyrocketing energy costs and the planet is literally burning, sabotaging this program isn’t just wrong — it’s absolutely insane. We will fight back to preserve this enormously important program.”
Only $53 million of the $7 billion awarded has been spent, according to a tally by the research firm Atlas Public Policy. Several grant recipients this week said their programs were in planning phases.
Stephanie Bosh, senior vice president of the Solar Energy Industries Association, said the EPA has no legal authority to terminate grants already appropriated by Congress.
“These grants are delivering billions of dollars of investment to red and blue states alike,″ she said. Bosh said solar was one of the cheapest energy sources at a time of growing demand for electricity.
“This administration is continuing to dig itself into a hole,” she said.
The EPA has argued that the tax and policy law allows the agency to rescind the money it has already obligated. The recipients of that money disagree, saying the bulk of the money had already been disbursed and is not affected by the law.
Grant recipients have filed lawsuits challenging the administration’s actions, and a judge ruled in April the EPA cannot freeze the contracts.
Rhode Island Sen. Sheldon Whitehouse, the top Democrat on the Senate Environment Committee, called Zeldin’s elimination of the solar program a betrayal “that will further hike electricity costs and make our power grid less reliable.”
“Trump is — yet again — putting his fossil fuel megadonors first,” he added.
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07 August 20253 min readEpa Cancels $7 Billion Biden-Era Grant Program To Boost Solar Energy
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07 August 2025
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Trump Announces Apple'S Plans To Invest $100 Billion More In U.S.WASHINGTON (AP) — Apple CEO Tim Cook joined President Donald Trump at the White House on Wednesday to announce a commitment by the tech company to increase its investment in U.S. manufacturing by an additional $100 billion over the next four years.
"This is a significant step toward the ultimate goal of ensuring that iPhones sold in the United States of America also are made in America," Trump said at the press conference. "Today's announcement is one of the largest commitments in what has become among the greatest investment booms in our nation's history."
As part of the Apple announcement, the investments will be about bringing more of its supply chain and advanced manufacturing to the United States as part of an initiative called the American Manufacturing Program, but it is not a full commitment to build its popular iPhone device domestically.
"This includes new and expanded work with 10 companies across America. They produce components — semiconductor chips included — that are used in Apple products sold all over the world, and we're grateful to the President for his support," Cook said in a statement announcing the investment.
The new manufacturing partners include Corning, Coherent, Applied Materials, Texas Instruments and Broadcom among others.
Apple had previously said it intended to invest $500 billion domestically, a figure it will now increase to $600 billion. Trump in recent months has criticized the tech company and Cook for efforts to shift iPhone production to India to avoid the tariffs his Republican administration had planned for China.
While in Qatar earlier this year, Trump said there was "a little problem" with the Cupertino, California, company and recalled a conversation with Cook in which he said he told the CEO, "I don't want you building in India."
India has incurred Trump's wrath, as the president signed an order Wednesday to put an additional 25% tariff on the world's most populous country for its use of Russian oil. The new import taxes to be imposed in 21 days could put the combined tariffs on Indian goods at 50%.
Apple's new pledge comes just a few weeks after it forged a $500 million deal with MP Materials, which runs the only rare earths producer in the country. That agreement will enable MP Materials to expand a factory in Texas to use recycled materials to produce magnets that make iPhones vibrate.
Speaking on a recent investors call, Cook emphasized that "there's a load of different things done in the United States." As examples, he cited some of the iPhone components made in the U.S. such as the device's glass display and module for identifying people's faces and then indicated the company was gearing to expand its productions of other components in its home country.
"We're doing more in this country, and that's on top of having roughly 19 billion chips coming out of the US now, and we will do more," Cook told analysts last week, without elaborating.
News of Apple's latest investment in the U.S. caused the company's stock price to surge by 5% in Wednesday's midday trading. That gain reflects investors' relief that Cook "is extending an olive branch" to the Trump administration, said Nancy Tengler, CEO of money manager Laffer Tengler Investments, which owns Apple stock.
Despite Wednesday's upturn, Apple's shares are still down by 15% this year, a reversal of fortune that has also been driven by the company's botched start in the pivotal field of artificial intelligence.
AP Technology Writer Shawn Chen contributed to this report.
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06 August 20253 min readTrump Announces Apple'S Plans To Invest $100 Billion More In U.S.
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06 August 2025
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Iphone Manufacturer Foxconn Targets $1 Trillion Ai Market With Teco DealSubscribe to our free newsletter today to keep up to date with the latest manufacturing news.
Foxconn, best known as Apple’s iPhone assembler, is making a decisive pivot into the artificial intelligence data center sector. Its recent alliance with TECO Electric & Machinery Co., a legacy industrial firm, marks a strategic effort to diversify operations and capitalize on rising demand for AI infrastructure. The partnership reflects Foxconn’s broader ambition to become a full-stack supplier to the data center sector, a market expected to exceed $1 trillion globally in the coming years.
Foxconn’s dominance in consumer electronics has long been built on scale, labor coordination, and logistical precision. But that legacy business, particularly smartphone assembly, has matured. Margins are tightening and growth has plateaued. AI, in contrast, offers a newer frontier and an opportunity for Foxconn to apply its industrial capabilities to more profitable sectors.
Its relationship with Nvidia, the chipmaker behind the most in-demand AI processors, is particularly relevant. Earlier this year, Foxconn announced that it would co-develop a 100-megawatt AI data center in southern Taiwan, in phased buildouts beginning at 20 megawatts. The project highlights Foxconn’s expanding infrastructure capabilities and deepening ties to the AI ecosystem.
Revenue from AI servers is expected to double in the second quarter of 2025. With demand from hyperscalers like Microsoft and Meta reaching record levels, Foxconn sees a window to supply compute infrastructure at scale, not just chips or boards, but entire data center systems.
Foxconn’s equity alliance with TECO represents a targeted move to strengthen its infrastructure position. Under the terms of the deal, Foxconn will take a 10 percent stake in TECO via a share exchange, while TECO will receive about 0.519 percent of Foxconn’s outstanding shares. The transaction is expected to close by the end of 2025, pending regulatory approval.
TECO brings decades of experience in industrial electromechanical systems, from HVAC units to turbines, critical components in running high-density data centers. Foxconn contributes server manufacturing and system integration. Together, they plan to offer turnkey AI data center solutions.
Rather than a financial play, the move is a capabilities match. Both companies will jointly target international clients and collaborate on planning, deployment, and long-term support.
Instead of pursuing custom builds, the Foxconn-TECO model is centered on modularity. These pre-engineered or containerized data center units can be deployed quickly across different locations. Modular data centers reduce construction time, lower initial costs, and speed up scaling, all priorities for hyperscale providers racing to meet demand.
Foxconn aims to offer complete services, from AI server production to facility integration. That approach helps clients reduce the number of vendors and compress project timelines.
This shift also offers strategic control. The ability to localize production, respond to regional energy standards, and reduce shipping delays makes this an appealing option as workloads expand globally.
The global AI data center market is projected to top $1 trillion in spending over the next decade. That growth stems from rapid expansion in generative AI, machine learning, and ongoing digital transformation in multiple sectors.
Foxconn’s shift positions it among a small group of firms capable of serving this market end to end. Unlike traditional infrastructure providers that focus on power or cooling, Foxconn offers integrated compute and manufacturing solutions. With a presence in Asia, the United States, and the Middle East, it can support localized deployments and reduce exposure to geopolitical risks.
The TECO deal also addresses a critical need, thermal management and energy efficiency. Partnering with an electromechanical firm gives Foxconn the ability to deliver AI-ready, stable data center operations.
The partnership between Foxconn and TECO reflects a broader strategic transformation already in motion within Foxconn, as the company actively diversifies beyond consumer electronics into sectors such as electric vehicles, semiconductors, and artificial intelligence systems. By bringing TECO into its ecosystem, Foxconn strengthens its infrastructure capabilities, creating a more cohesive and vertically integrated foundation that connects these emerging business lines through physical deployment and operational execution.
Should market conditions continue to align with this strategic direction, Foxconn may evolve from being known primarily as a high-volume electronics assembler to positioning itself as a comprehensive AI infrastructure provider capable of supporting global compute demands. For TECO, the agreement offers an entry point into a fast-growing technology segment that builds naturally on its existing strengths in electromechanical systems, enabling it to participate in digital infrastructure growth without departing from its core engineering competencies.
Sources:
CNBC
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05 August 20254 min readIphone Manufacturer Foxconn Targets $1 Trillion Ai Market With Teco Deal
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05 August 2025
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Australia Selects Japan'S Mitsubishi Heavy Industries For $6.5B Warship DealWELLINGTON, New Zealand (AP) — Australia said Tuesday it accepted a Japanese company's bid for a lucrative and hotly contested contract to build Australian warships, expected to be worth 10 billion Australian dollars ($6.5 billion).
Mitsubishi Heavy Industries’ Mogami-class frigate won the deal over rival Germany’s MEKO A-200 from Thyssenkrupp Marine Systems. Japan’s government lobbied heavily for the deal after missing out on Australia’s submarines contract to a French company in 2016.
“This is clearly the biggest defense industry agreement that will ever have been struck between Japan and Australia,” Defense Minister Richard Marles told reporters when he announced the deal Tuesday. “In fact, it’s really one of the biggest defense exports that Japan has ever engaged in.”
The fleet of 11 naval vessels will replace Australia’s ageing fleet of ANZAC-class ships. Three of the frigates will be built in Japan, with the first scheduled to be operational Australia in 2030, and the remaining eight due for construction in Australia.
Australian news outlets reported that the German company’s bid had emphasized their vessel’s cheaper price and their greater experience building ships abroad. But Pat Conroy, Australia’s Minister for Defense Industry, said the Mogami-class frigate was a “clear winner” when assessed by “cost, capability and meeting our schedule of delivery.”
The vessels have a range of up to 10,000 nautical miles (18,520 kilometers) and 32 vertical launch cells capable of launching long-range missiles. The frigates can operate with a crew of 90, compared to the 170 needed to operate the ANZAC-class ships.
Mitsubishi’s win was a boon for Japan’s defense industry, which has not built naval vessels abroad before. Japan, whose only treaty ally is the United States, considers Australia a semi-ally and has increasingly sought to deepen bilateral military cooperation amid ongoing regional tensions in the disputed South China Sea.
“We welcome the decision by the Australian government as a major step to further elevate Japan’s national security cooperation with Australia, which is our special strategic partner,” Japan’s Defense Minister Gen Nakatani said Tuesday.
Nakatani said co-developing the frigate will allow the two countries to train and operate with the same equipment and further improve operability and efficiency. Japan set up a joint taskforce of government and industry in an effort to win the bid.
Australian officials said work on a binding commercial contract with Mitsubishi Heavy Industries and the government of Japan would now begin, with a finalized agreement expected in 2026. They did not say how much each ship would cost or confirm a total figure for the package, citing ongoing negotiations.
But Conroy said the government had allowed AU$10 billion for the project over the next 10 years. It forms part of the AU$55 billion that Australia has budgeted for the navy’s entire surface combatant fleet during the same period.
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05 August 20253 min readAustralia Selects Japan'S Mitsubishi Heavy Industries For $6.5B Warship Deal
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05 August 2025
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Palantir Books First $1 Billion In Quarterly Sales After Dodging U.S. Spending CutsNEW YORK (AP) — Shares of Palantir Technologies appear to be heading toward another record high Tuesday after booking its first $1 billion in quarterly sales and raising its outlook for the year.
The stock rose above $170 before the opening bell Tuesday, which would be tops for the company that has already notched record highs four times this year, the most recent on July 25 when its stock closed at $158.80.
Since going public in 2020 when it posted a $1.17 billion annual loss, the artificial intelligence software company has swung to a profit. Profit rose 33% to $327 million in the second quarter.
Its $1 billion quarterly revenue haul was fueled by a 53% spike in government sales, despite massive spending cuts under President Donald Trump and his Department of Government Efficiency, once led by the world’s richest man Elon Musk.
“DOGE has had zero negative impact on Palantir’s U.S. government business, which achieved its fastest growth rate since the second quarter of 2021,” wrote William Blair analysts Louie DiPalma and Bryce Sandberg. “Palantir is clearly benefiting from AI industry momentum across its government and commercial customer bases.”
The company also recorded a 93% jump in business sales. Overall U.S. revenue surged 68% to $733 million.
Late Monday, Palantir raised its revenue expectations for 2025 to between $4.14 billion and $4.15 billion. It also raised its U.S. commercial revenue guidance to more than $1.3 billion, which would mean that Palantir achieved a growth rate of at least 85%.
“This was a phenomenal quarter,” CEO Alex Karp said in a statement accompanying the earnings release. “We continue to see the astonishing impact of AI leverage.”
Palantir, headquartered in Denver, Colorado, specializes in software platforms that pull together and analyze large amounts of data.
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05 August 20252 min readPalantir Books First $1 Billion In Quarterly Sales After Dodging U.S. Spending Cuts
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05 August 2025
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Jury Orders Tesla To Pay More Than $240 Million In Autopilot Crash CaseMIAMI (AP) — A Miami jury decided that Elon Musk’s car company Tesla was partly responsible for a deadly crash in Florida involving its Autopilot driver assist technology and must pay the victims more than $240 million in damages.
WATCH: Family of Man Killed in Cybertruck Fire Sues Tesla
The federal jury held that Tesla bore significant responsibility because its technology failed and that not all the blame can be put on a reckless driver, even one who admitted he was distracted by his cellphone before hitting a young couple out gazing at the stars. The decision comes as Musk seeks to convince Americans his cars are safe enough to drive on their own as he plans to roll out a driverless taxi service in several cities in the coming months.
The decision ends a four-year long case remarkable not just in its outcome but that it even made it to trial. Many similar cases against Tesla have been dismissed and, when that didn't happen, settled by the company to avoid the spotlight of a trial.
“This will open the floodgates,” said Miguel Custodio, a car crash lawyer not involved in the Tesla case. “It will embolden a lot of people to come to court.”
The case also included startling charges by lawyers for the family of the deceased, 22-year-old, Naibel Benavides Leon, and for her injured boyfriend, Dillon Angulo. They claimed Tesla either hid or lost key evidence, including data and video recorded seconds before the accident. Tesla said it made a mistake after being shown the evidence and honestly hadn’t thought it was there.
“We finally learned what happened that night, that the car was actually defective,” said Benavides' sister, Neima Benavides. “Justice was achieved.”
Tesla has previously faced criticism that it is slow to cough up crucial data by relatives of other victims in Tesla crashes, accusations that the car company has denied. In this case, the plaintiffs showed Tesla had the evidence all along, despite its repeated denials, by hiring a forensic data expert who dug it up.
“Today’s verdict is wrong," Tesla said in a statement, “and only works to set back automotive safety and jeopardize Tesla’s and the entire industry’s efforts to develop and implement lifesaving technology,” They said the plaintiffs concocted a story ”blaming the car when the driver – from day one – admitted and accepted responsibility.”
In addition to a punitive award of $200 million, the jury said Tesla must also pay $43 million of a total $129 million in compensatory damages for the crash, bringing the total borne by the company to $243 million.
“It's a big number that will send shock waves to others in the industry,” said financial analyst Dan Ives of Wedbush Securities. “It's not a good day for Tesla.”
Tesla said it will appeal.
Even if that fails, the company says it will end up paying far less than what the jury decided because of a pre-trial agreement that limits punitive damages to three times Tesla’s compensatory damages. Translation: $172 million, not $243 million. But the plaintiff says their deal was based on a multiple of all compensatory damages, not just Tesla’s, and the figure the jury awarded is the one the company will have to pay.
It’s not clear how much of a hit to Tesla’s reputation for safety the verdict in the Miami case will make. Tesla has vastly improved its technology since the crash on a dark, rural road in Key Largo, Florida, in 2019.
But the issue of trust generally in the company came up several times in the case, including in closing arguments Thursday. The plaintiffs’ lead lawyer, Brett Schreiber, said Tesla’s decision to even use the term Autopilot showed it was willing to mislead people and take big risks with their lives because the system only helps drivers with lane changes, slowing a car and other tasks, falling far short of driving the car itself.
Schreiber said other automakers use terms like “driver assist” and “copilot” to make sure drivers don’t rely too much on the technology.
“Words matter,” Schreiber said. “And if someone is playing fast and lose with words, they’re playing fast and lose with information and facts.”
Schreiber acknowledged that the driver, George McGee, was negligent when he blew through flashing lights, a stop sign and a T-intersection at 62 miles an hour before slamming into a Chevrolet Tahoe that the couple had parked to get a look at the stars.
The Tahoe spun around so hard it was able to launch Benavides 75 feet through the air into nearby woods where her body was later found. It also left Angulo, who walked into the courtroom Friday with a limp and cushion to sit on, with broken bones and a traumatic brain injury.
But Schreiber said Tesla was at fault nonetheless. He said Tesla allowed drivers to act recklessly by not disengaging the Autopilot as soon as they begin to show signs of distraction and by allowing them to use the system on smaller roads that it was not designed for, like the one McGee was driving on.
“I trusted the technology too much,” said McGee at one point in his testimony. “I believed that if the car saw something in front of it, it would provide a warning and apply the brakes.”
The lead defense lawyer in the Miami case, Joel Smith, countered that Tesla warns drivers that they must keep their eyes on the road and hands on the wheel yet McGee chose not to do that while he looked for a dropped cellphone, adding to the danger by speeding. Noting that McGee had gone through the same intersection 30 or 40 times previously and hadn’t crashed during any of those trips, Smith said that isolated the cause to one thing alone: “The cause is that he dropped his cellphone.”
The auto industry has been watching the case closely because a finding of Tesla liability despite a driver’s admission of reckless behavior would pose significant legal risks for every company as they develop cars that increasingly drive themselves.
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04 August 20256 min readJury Orders Tesla To Pay More Than $240 Million In Autopilot Crash Case
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04 August 2025
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Tesla Awards Ceo Musk Millions Of Shares Valued At About $29 BillionTesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion, just six months after a judge ordered the company to revoke his massive pay package.
The electric vehicle maker said in a regulatory filing on Monday that Musk must first pay Tesla $23.34 per share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package that was awarded to the company's CEO.
In December Delaware Chancellor Kathaleen St. Jude McCormick reaffirmed her earlier ruling that Tesla must revoke Musk's multibillion-dollar pay package. She found that Musk engineered the landmark pay package in sham negotiations with directors who were not independent.
At the time McCormick also rejected an equally unprecedented and massive fee request by plaintiff attorneys, who argued that they were entitled to legal fees in the form of Tesla stock valued at more than $5 billion. The judge said the attorneys were entitled to a fee award of $345 million.
The rulings came in a lawsuit filed by a Tesla stockholder who challenged Musk's 2018 compensation package.
That pay package carried a potential maximum value of about $56 billion, but that sum has fluctuated over the years based on Tesla's stock price.
Musk appealed the order in March. A month later Tesla said in a regulatory filing that it was creating a special committee to look at Musk's compensation as CEO.
Wedbush analyst Dan Ives feels Musk's stock award may alleviate some Tesla shareholder concerns.
"We believe this grant will now keep Musk as CEO of Tesla at least until 2030 and removes an overhang on the stock," Ives wrote in a client note. "Musk remains Tesla's big asset and this comp issue has been a constant concern of shareholders once the Delaware soap opera began."
Tesla shares have plunged 25% this year, largely due to blowback over Musk's affiliation with President Donald Trump. But Tesla also faces intensifying competition from both the big Detroit automakers, and from China.
In its most recent quarter, Tesla reported that quarterly profits plunged from $1.39 billion to $409 million. Revenue also fell and the company fell short of even the lowered expectations on Wall Street.
Under pressure from shareholders last month, Tesla scheduled an annual shareholders meeting for November to comply with Texas state law.
A group of more than 20 Tesla shareholders, which have watched Tesla shares plummet, said in a letter to the company that it needed to at least provide public notice of the annual meeting.
Investors have grown increasingly worried about the trajection of the company after Musk had spent so much time in Washington this year, becoming one of the most prominent officials in the Trump administration in its bid to slash the size of the U.S. government.
Tesla's stock rose more than 2% before the market open.
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04 August 20253 min readTesla Awards Ceo Musk Millions Of Shares Valued At About $29 Billion
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04 August 2025
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Cantex Announces $120 Million Facility In ArkansasNASHVILLE, Ark. – Cantex Inc., a manufacturer of electrical conduit, fittings and boxes, announced plans to invest $120 million to locate a new facility in Nashville, Arkansas.
The company expects the new facility, its first in Arkansas, to create 110 jobs and begin operations by the end of the year.
Cantex purchased an existing manufacturing facility previously operated by outdoor power products producer Husqvarna. The company plans to invest in new equipment and make upgrades to the facility to support the production of electrical products.
"This property will enable us to better serve our customers and support our long-term growth strategy," Cantex President Dave Merker said. "We look forward to integrating this new manufacturing facility into our operations and leveraging its potential to drive innovation and excellence."
Cantex expects the Nashville facility to play a key role in strengthening its national footprint in the electrical conduit and fittings industry.
Cantex started production more than 70 years ago. Today, the company offers a range of electrical conduit and fittings, elbows and non-metallic switch, outlet and ceiling boxes.
The company's products serve a broad spectrum of electrical distributors, contractors and end users across the U.S.
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04 August 20251 min readCantex Announces $120 Million Facility In Arkansas
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04 August 2025
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Seoul, Us Seal $450B Deal To Cap Tariffs On Korean GoodsIn a last-minute development, South Korea and the United States reached a $450 billion trade agreement on July 31, capping U.S. tariffs on Korean exports to 15% and avoiding a steeper 25% rate that was to take effect the next day. In exchange, the South Koreans made a $350 billion investment pledge, along with agreeing to $100 billion in U.S. energy imports over the next four years.
The new 15% tariff is “reciprocal” – because it allows for Korea to be under the same or similar arrangements that the U.S. has with Japan and the EU. However, it also effectively suspends the near zero tariffs previously provided under the 2012 Korea-U.S. Free Trade Agreement.
President Lee Jae Myung described the agreement as a "huge breakthrough" because it eliminates uncertainty for Korean exporters and foster's industrial coordination with the United States. "This aligns America’s goals for a manufacturing renaissance with Korea’s ambitions to develop industrial competitiveness," he said via Facebook.
Also Read: South Korea Faces US Tariff Risks Due to Export Dependence
For Washington's requests, Seoul’s new administration quickly raised its offer from $100 billion to $350 billion. The buyout offer includes $150 billion for a Korea-led shipbuilding program called "Make American Shipbuilding Great Again." The Finance Minister Koo Yun-cheol described the shipbuilding program as a critical component in concluding the deal, pointing that Korean companies are world leaders in ship design and shipbuilding.
The remaining $200 billion, roughly equity, loans and guarantees, will support joint ventures in strategic sectors: semiconductors, nuclear, batteries, and biopharmaceuticals. To mitigate risk, the U.S. committed to purchasing the output from selected projects where the outputs have been satisfied for commercial viability.
South Korea also achieved most-favored-nation status already agreed upon for U.S. tariff decisions related to semiconductor and pharma, which insulated those areas from discriminatory increases. Agricultural protections were preserved in the U.S. for Korean rice/beef protections.
Importantly, Korea’s total investment package is smaller than Japan’s $550 billion, with Korean public-sector contribution being only 36% of the Japanese equivalent. Some issues including defense cost-sharing, AI chip controls, and digital trade are unresolved and will be discussed in future discussions, likely at a future summit between Lee and Trump.
Asia Manufacturing Review
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01 August 20252 min readSeoul, Us Seal $450B Deal To Cap Tariffs On Korean Goods
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01 August 2025
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Stellantis Ceo Targets Us Turnaround As Carmaker Faces $1.7 Billion Hit From Tariffs This YearStellantis hopes to counteract some of the expected 1.5 billion-euro ($1.7 billion) cost of tariffs this year by boosting North American profitability with new model launches like the discontinued Jeep Cherokee, the carmaker’s new CEO said on Tuesday.
The world’s fourth-largest carmaker, created 4 1/2 years ago from the merger of Fiat Chrysler and PSA Peugeot, is in talks with U.S. officials on how to mitigate the impact of tariffs, in particular on cars produced in neighboring Canada and Mexico.
CEO Antonio Filosa said that Stellantis supports U.S. President Donald Trump’s strategy to boost the creation of jobs and U.S. auto production “using also tariffs as a tool,’’ Filosa said.
Filosa, who was confirmed as chief executive last month, said that he’s pushing to have the tariff regime factor in the high level of U.S. components used in its cars made in Canada and Mexico.
Of the 16 million cars Stellantis produces for sale in the U.S. market, 8 million are made in domestic plants, and another 4 million in Canada and Mexico — all with a large number of U.S. components. Another 4 million are imported from Europe and Asia, with virtually no U.S. components.
In pursuit of a U.S. turnaround, Filosa is relaunching in the second half of 2025 models that previous management nixed two years ago: a new Jeep Cherokee for the largest-selling U.S. segment and the popular ICE Dodge Charger.
Earlier this year, Stellantis also relaunched the Ram Hemi V8 because of dealer and customer demand in what Filosa called “a quick, smart, impactful corrective action.”
The Jeep Cherokee will be produced in Mexico, and Filosa said that they are working on reducing production costs, “so we can totally offset the tariffs effect.’’
Stellantis has already absorbed 300 million euros ($350 million) of the 2025 tariff impact during the first half of the year, as the carmaker posted losses of 2.3 billion euros (nearly $2.7 billion). During the period, U.S. shipments were down by nearly a quarter as the carmaker reduced the importation vehicles produced abroad.
The maker of Jeep, Chrysler, Fiat and Peugeot cars reported that net profits plummeted from 5.6 billion euros ($6.5 billion) in the same period last year as it burned 3.3 billion euros in cash for the cancellation of a hydrogen fuel cell project, changes in the fine regime for U.S. carbon emission regulations, and write-downs on platform investments.
Stellantis said that it expected net revenues to increase over the next six months compared with the first half, when they dropped 13% to 74.3 billion euros ($85.7 billion). The carmaker also said that cash flow would improve.
Filosa said the new executive team “will continue to make the tough decisions needed to reestablish profitable growth and significantly improve results.”
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30 July 20253 min readStellantis Ceo Targets Us Turnaround As Carmaker Faces $1.7 Billion Hit From Tariffs This Year
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30 July 2025
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Amazon Breaks Ground On Massive 930,000 Square Foot Facility In Port Of Little Rock, ArkansasAmazon has officially broken ground on a cutting-edge logistics facility at the Port of Little Rock, marking a significant step forward in the company’s expansion across Arkansas. Covering more than 930,000 square feet, the sprawling facility is expected to create over 1,000 full- and part-time jobs. From boosting local employment to strengthening supply chain operations, this project underscores Amazon’s confidence in Arkansas’ logistics infrastructure and its skilled workforce. With operations projected to streamline delivery and inventory systems across the region, the facility is poised to become a central hub in Amazon’s broader national network.
The roots of this development trace back to 2017, following the city’s bold “Love Little Rock” campaign, a spirited bid for Amazon’s second headquarters. While Little Rock did not make the final HQ2 cut, the campaign left a lasting impression. City leaders remained hopeful, nurturing the relationship with Amazon over the years through strategic outreach and development efforts. That patience has now paid off. Already home to Amazon delivery stations in cities like Hot Springs, Texarkana, Lowell, and Fort Smith, Arkansas has clearly become a key player in the company’s long-term logistics strategy.
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Amazon executives and government officials alike have praised the strategic value of the Little Rock facility. Andrea Fava, Vice President of U.S. Public Policy at Amazon, explained that the center will play a vital role in processing inventory before it is routed to fulfillment centers. Governor Sarah Sanders highlighted the site’s unique logistical advantages, with access to river, rail, road, and runway routes. Pulaski County Judge Barry Hyde also emphasized the area’s growing economic momentum, noting the region’s consistent success over the past decade. Clearly, this project not only reflects Amazon’s operational priorities but also promises to energize the state’s economy.
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Looking ahead, the facility is scheduled to become fully operational by 2027, with more than 1,000 high-quality jobs offering starting wages above $22 per hour and average compensation exceeding $29 per hour with benefits. Excitingly, a neighboring “super-site” is also being considered, reinforcing long-term investment in the region.
Here’s an interesting detail: the land sold to Amazon, a 107-acre plot, was originally part of the Port’s long-term strategic reserve. This marks Amazon’s fifth major investment in Central Arkansas since 2017. In total, the tech giant has injected more than $2.6 billion into the state’s economy, generating an estimated 6,500 indirect jobs. What started as a hopeful campaign has blossomed into a transformative chapter for Little Rock and beyond.
Location: Port of Little Rock, Arkansas.
Size: Over 930,000 square feet.
Jobs Created: More than 1,000 full- and part-time positions.
Start of Construction: Official groundbreaking took place in July 2025.
Expected Completion: Facility scheduled to be fully operational by 2027.
Purpose: Logistics hub to process inventory before distribution to fulfillment centers.
Strategic Benefits: Access to river, rail, road, and runway for efficient shipping.
Economic Impact: Supports Amazon’s $2.6B+ investment in Arkansas and 6,500 indirect jobs.
Historical Background: Inspired by the city’s 2017 “Love Little Rock” HQ2 campaign.
Future Expansion: Plans underway for a neighboring “super-site” across the street.
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30 July 20253 min readAmazon Breaks Ground On Massive 930,000 Square Foot Facility In Port Of Little Rock, Arkansas
Construction Review
30 July 2025
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Stellantis Faces $1.7 Billion Hit From U.S. Tariffs This YearMILAN (AP) — Stellantis has forecast that U.S. tariffs would cost it 1.5 billion euros ($1.7 billion) this year, five times the hit taken in the first six months of the year when the carmaker tallied losses of 2.3 billion euros ($2.65 billion).
The maker of Jeep, Chrysler, Fiat and Peugeot cars said Tuesday that net profits plummeted from 5.6 billion euros ($6.5 billion) in the same period last year as it burned 3.3 billion euros ($3.8 billion) in cash for the cancellation of a hydrogen fuel cell project, changes in the fine regime for U.S. carbon emission regulations, and write-downs on platform investments.
U.S. President Donald Trump’s tariffs cost the company 300 million euros ($346 million) in the first six months of the year, Stellantis said. During the period, U.S. shipments were down by nearly a quarter as the carmaker reduced the importation vehicles produced abroad.
Stellantis said it expected net revenues to increase over the next six months compared with the first half, when they dropped 13% to 74.3 billion euros ($85.7 billion). The carmaker also said cash flow would improve.
Incoming CEO Antonio Filosa, who was confirmed in the role last month, said the new executive team “will continue to make the tough decisions needed to re-establish profitable growth and significantly improve results.’’
“My first weeks as CEO have reconfirmed my strong conviction that we will fix what’s wrong with Stellantis,’’ Filosa said in a statement.
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29 July 20252 min readStellantis Faces $1.7 Billion Hit From U.S. Tariffs This Year
Manufacturing Net
29 July 2025
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