Author: Angela Barnes
Published on: 30/04/2025 | 00:00:00
AI Summary:
Trump portrayed the changes as a bridge toward automakers moving more production into the United States. Treasury Secretary Scott Bessent said the goal was to enable automakers to create more domestic manufacturing jobs. The amended order provides a rebate for one year of 3.75% relative to the sales prices of a domestically assembled vehicles. Stellantis Chairman John Elkann said the company appreciates the president's tariff relief measures. General Motors CEO Mary Barra said the automaker is grateful for Trump's support of the industry. Ford Motor Company president Jim Farley stressed that his company does more than its peers to manufacture domestically. ADVERTISEMENT "Making a production change for vehicle manufacturing takes minimum, months, and usually years" The White House's Rapid Response account on X said Trump signed a second order on Tuesday afternoon. The tariffs imposed by Trump were seen by some as an existential threat to the auto sector. ADVERTISEMENT Revolut will announce on Wednesday that it will launch monthly mobile phone plans. Customers will have unlimited calls, texts and data at home. UK plans will provide a 20GB roaming allowance across the EU and the US. German plans will include 40GB of EU roaming. Proponents of fragmented market argue diversity of providers is good for competition. Critics argue smaller firms make less profit, meaning less funding goes towards infrastructure upgrades. Revolut will be acting as a mobile virtual network operator, rather than an MNO. ADVERTISEMENT Duso said MVNOs can lease capacity from existing networks without having to invest in their own infrastructure. He added that these offerings “do not appear to be a barrier to investment” suggesting that they are instead associated with higher capital expenditure. Revolut says its mobile plans will be integrated into the app. Customers who join a waitlist will be the first to access the mobile plans.
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Percent reduction: 81.63%