Wall Street Breakfast Detroit 3 cry foul on Japan tariff deal
Jul 23, 2025
U.S. automakers are raising alarms over a trade deal with Japan that favors Japanese auto imports, jeopardizing local jobs. Hershey faces rising cocoa prices, leading to another hike in chocolate costs. Clorox is taking legal action against Cognizant due to a cyberattack linked to security lapses. Meanwhile, market trends are reacting to notable stock movers and significant tech advancements in AI. Investors are also keenly watching developments from Tesla and potential political moves from Elon Musk.
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Trade Deal Favors Japan's Automakers
- The U.S.-Japan trade deal reduces tariffs on Japanese auto imports to 15%, while tariffs on Canadian and Mexican imports remain at 25%.
- Detroit automakers warn this creates an unfair disadvantage for vehicles with high U.S. content built in North America.
Hershey Faces Cocoa Cost Pressure
- Hershey is increasing candy prices again due to sustained high cocoa costs above $8,000 per metric ton.
- Weather in key West African countries has kept cocoa prices elevated despite falling from historic highs.
Clorox Cyberattack Lawsuit Details
- Clorox sued Cognizant after a 2023 cyberattack cost $380 million and forced system shutdowns.
- Hackers obtained Clorox passwords through Cognizant employees without proper credential verification.