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Trump says auto tariffs are permanent and doesn’t care if they cause carmakers to hike prices — ‘I hope they raise their prices’

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  • President Donald Trump shrugged off concerns that his auto tariffs will cause carmakers to raise prices, saying he couldn’t care less if they do. In an interview with NBC News, he added that, “I hope they raise their prices, because if they do, people are gonna buy American-made cars.” But even cars assembled in the US have foreign-made parts.

President Donald Trump said his new auto tariffs are permanent and shrugged off concerns that they will cause carmakers to raise prices.

In an interview with NBC News on Saturday, he was asked about a recent Wall Street Journal report that said he warned auto CEOs not to hike prices while discussing tariffs with them.

“No, I never said that. I couldn’t care less if they raise prices, because people are going to start buying American-made cars,” Trump replied.

He added, “I couldn’t care less. I hope they raise their prices, because if they do, people are gonna buy American-made cars. We have plenty.”

Trump later said if prices on foreign cars go up, then consumers will buy American cars.

He also confirmed the tariffs are here to stay, saying, “Absolutely, they’re permanent, sure. The world has been ripping off the United States for the last 40 years and more. And all we’re doing is being fair, and frankly, I’m being very generous.”

Foreign-made auto parts would also be hit with a 25% tariff, but vehicles and parts imported under the US-Mexico-Canada Agreement trade deal will not see duties until the government establishes a process for imposing them, the White House has said.

US and foreign automakers have closely integrated supply chains that span North America. During the manufacturing process, cars and parts can cross between the US, Mexico and Canada multiple times.

Wedbush Securities analyst Dan Ives has estimated that cars could go up by $5,000 to $10,000 because of the auto tariffs, depending on whether a vehicle is a mass-market or premium brand.

“Every automaker in the world will have to raise prices in some form selling into the U.S., and the supply-chain logistics of this tariff announcement heard around the world is hard to even put our arms around at this moment,” he wrote in a research note on Friday.

While the White House has said tariffs are meant to revitalize the US industrial base, Ives is skeptical that car manufacturing can be completely reshored.

That’s because even cars built in America come equipped with foreign-made parts and components that constitute 40% to 50% of their value. 

“A U.S. car with all U.S. parts made in the U.S. is a fictional tale not even possible today,” he added.

This story was originally featured on Fortune.com



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Greece set to invest $28 billion on military shake-up. The most groundbreaking reform in the ‘history of the Greek state’

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NATO member Greece is set to unveil a massive modernisation of its armed forces on Wednesday, following the lead of several of its European allies.

Prime Minister Kyriakos Mitsotakis is expected to present the timeline to parliament, headlined with an eye-catching new anti-aircraft defence set-up called “Achilles’s Shield”.

The Mediterranean country already dedicates more than 3.0 percent of its GDP on defence — owing to decades of tension with neighbouring Turkey.

It now plans to invest approximately 26 billion euros ($28 billion) on new weapons systems by 2036, according to ministerial sources.

The Greek government has called it “the most significant reform ever undertaken in the history of the Greek state in terms of national defence.”

“Our country is protecting itself, arming itself, and strengthening itself,” government spokesman Pavlos Marinakis said last week.

Alongside Poland, Estonia and Latvia, Greece is one of the few NATO member states that allocates more than 3.0 percent of output to defence.

And this year the nation of 10.5 million has doubled its military budget to 6.13 billion euros ($6.6 billion).

“Historically, Greece has served and will continue to serve as an outpost for Europe, which is currently seeking to reorganise its defence in a difficult international setting,” said Maria Gavouneli, a professor of international law at the University of Athens.

‘Achilles’s Shield’

A key part of the shake-up is an upgrade to its anti-missile and anti-aircraft systems called “Achilles’s Shield”, according to a source familiar with the matter.

Greek media reports suggest Athens is in negotiations with Israel to acquire the shield, which also includes enhancing anti-drone systems.

France, Italy and Norway have been also cited as possible suppliers of the new weapons, which include unmanned vessels (USVs), drones and radars.

Greece has sought to strengthen its position on the EU’s Eastern Mediterranean border, close to the conflict zones of the Middle East.

A dutiful buyer of European military equipment, especially from France and Germany, Greece has always justified its arms spending by pointing to territorial disputes and threats from historic rival Turkey.

‘Necessary’ overhaul

“This reorganisation was necessary for Greece because during the economic crisis of the last decade and the freeze on public spending, the country fell behind in terms of modernising (its arsenal),” said Gavouneli, who is also the director general of the Hellenic Foundation for European and Foreign Policy think-tank.

Greece has signed a military cooperation agreement with France, ordering 24 Rafale fighter jets and three Belharra-class defence and intervention frigates (FDI) for a total of more than 5.5 billion euros.

A fourth frigate will be built in Greek shipyards, offering added value to strengthen the Greek defence industry.

Athens has also signed a deal for the acquisition of 20 US-made F-35 fighter jets.

Last November, Defence Minister Nikos Dendias said Greece would order four different drone systems and overhaul its armed forces by merging military units.

Athens must cope with a “different reality” and modernise its forces quickly to meet the challenges of the 21st century and those in its relationship with Ankara, Dendias said at the time.

France, Germany, and Poland have lately announced plans to bolster their militaries at a time of faltering confidence in the US military umbrella. European Commission President Ursula von der Leyen has stressed that the EU must significantly increase its arms spending in the face of the threat from Russia.

This story was originally featured on Fortune.com



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GOP wins 2 Florida special elections in Trump strongholds but by about 10 points less than in 2024

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Republicans Jimmy Patronis and Randy Fine won special elections Tuesday in two Florida congressional districts, bolstered by President Donald Trump’s endorsement to fill vacant seats in reliably Republican strongholds.

Patronis, the state’s chief financial officer, fended off a challenge from Democrat Gay Valimont even though she far outraised and outspent him. He will fill the northwest Florida 1st District seat vacated by former Rep. Matt Gaetz, who was chosen to be Trump’s attorney general but withdrew from consideration amid allegations of sexual misconduct, which he has denied.

In north Florida’s 6th District, Fine won against Democratic challenger Josh Weil for a seat vacated by Mike Waltz when he was tapped to become Trump’s national security adviser.

The win bolsters Republicans’ margin to 220-213 in the House of Representatives.

Special elections are often low-turnout events that can lead to surprising results. While GOP wins were widely expected in both districts — two of the most heavily Republican in the country — it’s notable that Democrats narrowed the margins considerably from November.

The races were among the first electoral tests of Trump’s new administration. The narrowing margins may signal a shift in public sentiment, driven by unusually strong enthusiasm as Democrats from across the country poured millions into the races. The opposition party hoped that backlash to the president’s overhaul of federal agencies and firing of federal workers would carve into the GOP’s margins at the polls.

Trump takes credit for the wins

Trump congratulated both candidates late Tuesday and said his endorsement helped them secure a victory.

“THE TRUMP ENDORSEMENT, AS ALWAYS, PROVED FAR GREATER THAN THE DEMOCRATS FORCES OF EVIL. CONGRATULATIONS TO AMERICA!” he said on his Truth Social platform.

At a waterfront restaurant in Pensacola, congratulatory text messages were already lighting up Patronis’ phone as early results were posted Tuesday night. Patronis worked the crowd of about 100 people, shaking hands and giving hugs, his wife Katie and two sons in tow.

“Let it be known that this election is a reminder the Florida Panhandle will forever be red, and it’ll forever be Trump country,” Patronis told his supporters. “And even their $6 million could not overcome one simple post on social media by Donald Trump.”

Fine spoke to about 100 supporters at the 2A Ranch Saloon in Ormond Beach, a barn-like building adorned with Trump decor, including cardboard cutouts of the president and a photo signed by first lady Melania Trump. Above Fine, a glowing “Trump is still my president” sign hung from the overhead balcony.

After the speech, Fine downplayed the narrowing margin, saying it was in the double digits and in a special election.

“I think it’s hard to say that’s an underperformance,” Fine said.

Weil said in a statement that the “race was closer than anyone ever imagined.”

“This result is also a warning sign to Donald Trump, Randy Fine, and the unelected oligarchs taking apart the government,” Weil said.

What do the results show?

Republicans in both districts are on track to win with narrower margins than their predecessors in every county. They also are on track to trail Trump’s 2024 share of the vote in the two congressional districts.

In the 6th Congressional District, Trump received roughly 65% of the vote in 2024, just behind the 67% Waltz received in his final House reelection bid. In Tuesday’s special election, Fine was underperforming Waltz by about 10 percentage points.

In Volusia County, Trump received 58% and Waltz received about 60% in 2024, while Fine was hovering around the 50% mark with nearly all the votes reported.

Fine, a self-described “conservative firebrand,” had faced growing pressure during the race’s final days as some Republicans publicly criticized his campaign and fundraising efforts, questioning whether this race would embarrass Republicans less than 100 days into Trump’s administration. Weil’s campaign raised an eye-popping $9 million compared to Fine’s $1 million.

National Democratic leaders attributed Weil’s fundraising success to what they characterized as widespread outrage against Trump. That outrage failed to materialize in large enough numbers to overturn the outcome, foiling Democrats’ hope to pull off a huge upset that would have buoyed their party.

The Democratic National Committee’s chair, Ken Martin, said the results showed “Democrats overperformed.” The National Republican Congressional Committee said the victories sent a message that “Americans are fired up to elect leaders who will fight for President Trump’s agenda and reject the Democrats’ failed policies,” spokesperson Mike Marinella said.

What did voters say?

Carol Vyhonsky, who drove to Fine’s election party from her home in Brevard County with a group of her friends, said she had no issues with Fine’s victory not being as strong as his predecessor’s was last year.

“The polling was looking a little iffy there for a while, but he pulled through,” Vyhonsky said. “As long as he won, that’s the important thing.”

Retired nurse Brenda Ray and her husband, Vietnam War veteran Mike Ray, made it to the polls to support Patronis earlier in the day. Brenda Ray said she didn’t know a lot about him but supported him because she believes he’ll “vote with our president.”

“That’s all we’re looking for,” she said.

Who are Fine and Patronis?

Fine was first elected to the Florida House in 2016 and ran each year as a representative until 2024 when he successfully won his election to the Florida Senate. He is known for his support of Israel and his efforts to restrict LGBTQ+ rights.

Patronis’ family founded the well-known Panama City restaurant Capt. Anderson’s, located along the Gulf of Mexico. He has been involved in Florida politics since he was in college, interning in the Florida Senate before being elected to the Florida House of Representatives in 2006. He was appointed by then-Gov. Rick Scott to become the state’s CFO in 2017 and won races to keep the Cabinet-level office in 2018 and 2022.

This story was originally featured on Fortune.com



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The new workplace trade-off: Employers are offering ‘recharge days’ to soften the blow of return to office

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Henry Ford brought the 40-hour workweek to the Western world nearly a century ago, believing that giving workers eight hours of labor, eight hours of recreation, and eight hours of rest would improve retention and morale.

However, between commutes, school runs, and last-minute holdbacks at the office, it took a pandemic-induced global shutdown to realize that 8-8-8 had slowly morphed into something more like 12-6-6. Working from home briefly allowed workers to claw back some of that time.

Now, as leaders increasingly order staff back to the office, they’re sweetening the deal by giving them some time back.

Jackson Healthcare (No. 99), Intuit (No. 78), Sheetz (No. 40), and many others provide workers with wellness centers where they can exercise, receive nutrition advice, or even talk through their mental health struggles.

Nonprofit health care provider Wellstar Health System (No. 93) has an extensive range of benefits aimed at giving its 28,000 workers a breather, including 16 “wellness rooms” across major locations. The spa-like spaces come complete with massage chairs, calming music, and healthy snacks. It has proved popular with employees, and turnover last year decreased by 10%.

What’s more, the company is even paying workers up to $310 a year to prioritize well-being. Intuit similarly rewards employees for taking care of their health with a $1,300 annual Well-Being for Life reimbursement, which can be used for purchases such as a treadmill.

Other firms are more tangibly putting time to recharge back in the hands of their staff with literal days off the job to do exactly that.

The luxury Palm Beach resort the Breakers (No. 63) offers a four-day week when it’s fully staffed. Not only does that give workers respite, but, the company explains, it prevents overstaffing during slower periods. Meanwhile, Fannie Mae (No. 12) offers staff Flex Fridays whereby from 1 p.m. workers can shut down their laptops for an early weekend.

Of course, not all businesses are willing to commit to weekly time off. But many opt for “recharge days” or company-wide breaks to provide that structured downtime without a fixed schedule.

ServiceNow (No. 30) gives staff six additional annual paid days off to focus specifically on wellbeing; HP (No. 90) offers an annual “me day” for the same reason, and IHG (No. 17) provides three “recharge days” a year.

Tax services and software provider Ryan (No. 35) introduced a full-week closure in July, known as the Ryan Break. “This time acknowledges the need for time off not related to holidays and time when the entire company is closed,” Ryan says. Vertex Pharmaceuticals (No. 44), similarly, closes business for a week in the summer and at Christmas.

And then there’s law firm Perkins Coie (No. 89), which goes one step further and empowers workers to take a proper break from the workday grind with a paid sabbatical—that is, around four to eight weeks off at full pay after 10 years of service, and every 10 years thereafter, to “rejuvenate.” And team members at every level can take advantage of the policy.

But by far the most popular work-life balance policy being adopted by the 100 Best Companies to Work For is compressed hours—with nearly half offering the option.

Delta Air Lines (No. 15), PwC (No. 20), and Dow (No. 25) are among the many employers empowering staff to pursue more flexible schedules, like working longer Monday through Thursday in exchange for a three-day weekend. One thing is clear: Employers who invest in flexibility reap the rewards of a happier staff.

More on the 2025 Best Companies to Work For:

This article appears in the April/May 2025 issue of Fortune.

This story was originally featured on Fortune.com



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