
China Imposes Reciprocal Curbs on EU Medical Device Procurement
Those companies won't be able to participate in government procurements worth over 45 million yuan ($6.3 million) for certain medical devices, according to a statement from China's finance ministry. The curbs will be effective Sunday.
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Yahoo
23 minutes ago
- Yahoo
‘Most humbling thing I've ever seen': Ford CEO sounds alarm on China's EV dominance — what that means for you
Ford CEO Jim Farley didn't mince words at the recent Aspen Ideas Festival, describing China's rapid rise in the electric vehicle (EV) market as the 'most humbling experience' of his career. "Their cost, their quality of their vehicles is far superior to what I see in the west." Farley said. Chinese automakers like BYD have pulled ahead with vertically integrated supply chains, efficient production and government support. They're pumping out reliable EVs at prices that make even budget-conscious U.S. models look expensive — including the new BYD Seagull, priced under $10,000 USD. "We are in a global competition with China, and it's not just EVs. And if we lose this, we do not have a future Ford," Farley said. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it For U.S. consumers, this isn't just about bragging rights in the global auto race. It's about what you'll pay for your next vehicle. If Chinese EVs enter Western markets without tariffs, they could undercut competitors by tens of thousands of dollars — bringing huge savings to consumers but serious threats to U.S. auto industry jobs. In response, the U.S. government has already imposed steep tariffs on Chinese electric vehicles, which may shield domestic automakers for now but also delay price competition. Farley's warning comes as more and more Americans are looking to switch to EVs amid soaring gas prices and expanding charging infrastructure. But since Tesla, Ford and GM EVs often start in the $40,000-$60,000 range, many Americans are priced out. Read more: No millions? No problem. With as little as $10, here's of diversified assets usually only available to major players China's advantage? It controls much of the world's battery production and can bring new EVs to market in a fraction of the time compared to U.S. automakers. Ford is working on a next-gen affordable EV platform intended to match China's costs but says it won't arrive until 2027. Tesla is also aiming to launch a $25,000 'Model 2,' but timelines remain uncertain. Until then, the price gap persists. One other fact is that Apple and Google just "decided not to go into the car business," according to Farley. This has created significant barriers to the U.S. competing with the level of technological integration made available in Chinese vehicles. "They have far superior in-vehicle technology. Huawei and Xiaomi are in every car," Farley added. "You get in, you don't have to pair your phone. Automatically, your whole digital life is mirrored in the car." For now, U.S. car buyers won't see sub-$20,000 EVs on the lot — but pressure is mounting. Here's how to stay ahead: Watch for incentives: Federal EV tax credits can ease the price of U.S.-made electric cars. Consider used EVs: As more models hit the market, prices on pre-owned electric cars are dropping. Just make sure you double-check the battery warranty before buying used. Plan long-term: If you're planning to switch to electric in the next few years, competition and innovation may bring prices down — eventually. Ford and Farley are painfully aware that market dynamics are shifting. And for American drivers, the race to affordable EVs is on. This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Money doesn't have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
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The Verge
2 hours ago
- The Verge
TikTok's ‘ban' problem could end soon with a new app and a sale
Even with the TikTok divest-or-ban law officially in effect since January, the app has only shut down service in the US for one day. Now, The Information reports that an agreement for a sale satisfying the law's requirements is close and would come with a new, separate version of the app. Any deal, however, would need approval from the Chinese government, which is also still wrangling with the Trump administration over tariffs. The outlet reports that the Trump administration says it's close to working out a sale to a group of 'non-Chinese' investors, including Oracle, with current majority owner ByteDance maintaining a minority stake that would satisfy the terms of the Protecting Americans from Foreign Adversary Controlled Applications Act. Earlier today, the Wall Street Journal reported that the General Services Administration says Oracle has reached a new agreement with the federal government that 'is the first of its kind that provides the entire government with a discount on cloud infrastructure,' with a 75 percent discount on licensed software. TikTok's staff is reportedly working on a new version of the app — dubbed M2, to the current app's internal M designation — for release in app stores on September 5th. Trump issued a third legally questionable extension of the deadline to ban TikTok from US app stores last month, which is set to expire in mid-September. According to The Information's unnamed source, under the current timeline, the original TikTok app would leave app stores as the new one launches and then stop working entirely in March 2026.