

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