US President Donald Trump is set to sign an executive order to ease the impact of car tariffs, which will eliminate double tariffs on imported car parts and materials used in manufacturing. This decision, praised by car industry leaders like General Motors and Ford, aims to support domestic manufacturing and investment while providing reimbursements for previously paid tariffs. However, the uncertainty surrounding Trump’s tariffs still affects the industry, as evidenced by GM’s withdrawal of its annual forecast amid ongoing concerns from car manufacturers about potential price increases and disruptions in the supply chain.
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Long way to go to stop lending for deforestation
Australian banks have been slow to reduce their involvement in deforestation, with major lenders like ANZ, Westpac, and Commonwealth Bank still financing agribusinesses linked to land clearing, which contributes to climate change and threatens biodiversity. A report by the Australian Conservation Foundation highlights the risks associated with deforestation, urging banks to eliminate such practices from their portfolios and calling for a national strategy to end deforestation by 2030. Need More Context? 🔎
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