Wall Street Breakfast

Big retailers ask China for help ahead of tariff announcement

Apr 2, 2025
Major retailers are pressuring Chinese suppliers to cut prices as fears of tariffs loom. In a significant move, LG Energy secures a deal to buy GM's stake in a Michigan battery joint venture for $2 billion. Meanwhile, Visa and American Express are vying to outmaneuver Apple in the credit card arena, posing a challenge to Mastercard. The environment is tense as big pharma stocks drop ahead of tariff announcements, with analysts warning about Tesla’s potential downturn following disappointing deliveries.
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INSIGHT

Retailer Tariff Response

  • Walmart pressures Chinese suppliers for price cuts due to Trump-era tariffs.
  • Some suppliers consider moving production to other Asian countries.
INSIGHT

LG Energy and GM Deal

  • LG Energy Solution will acquire GM's stake in their Michigan EV battery joint venture.
  • This comes after GM scaled back EV plans due to uncertainty around battery production and tax credits.
ANECDOTE

Apple Card Network Competition

  • Visa and American Express are competing to become Apple Card's payment network, potentially replacing MasterCard.
  • Visa's offer includes a $100 million incentive, similar to a deal made with Costco a decade ago.
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