President Donald Trump’s latest tariffs on Mexican, Canadian, and Chinese imports are set to intensify global trade tensions, affecting industries ranging from automobiles and retail to commodities and digital currencies. The new levies now apply to small packages previously exempt, impacting nearly 44% of all U.S. imports.

Automotive Industry Faces Heavy Losses

The U.S. auto industry is one of the hardest-hit sectors. The 25% tariff on parts and vehicles from Mexico and Canada—though Canada has secured a 30-day reprieve—could add a staggering $43 billion in annual costs, analysts at Jefferies estimate. That translates to an increase of $2,700 per vehicle, driving up prices for American consumers.

European automakers with factories in Mexico, such as Volkswagen and Stellantis, are also bracing for impact. Research from Stifel suggests Volkswagen’s operating income could drop by 12% in 2025, while Stellantis faces a potential 40% downgrade. Daimler and Traton (a VW subsidiary) could also suffer, as two-thirds of their vehicles are assembled in Mexico.

Alcohol and Beverage Producers Brace for Impact

The beverage industry is also in the crosshairs. Diageo, which generates one-third of its $20.3 billion annual revenue from North America, imports Crown Royal whisky and Don Julio tequila from Canada and Mexico. While favorable currency shifts and lower agave prices could soften the blow, Goodbody analysts predict the tariffs could still slash $500 million to $600 million from Diageo’s earnings.

Italy’s Campari Group faces similar challenges, as a third of its U.S. revenue depends on imports from Canada and Mexico.

Retail Prices Set to Rise, Weakening Consumer Confidence

The tariffs could fuel inflation in the U.S., leading to weaker consumer spending that may spill over into European and UK retail markets. According to Harvir Dhillon of the British Retail Consortium, the tariffs could cause a global rise in prices, affecting consumer confidence worldwide.

Clothing retailers such as H&M, Primark, and JD Sports could feel the pinch if U.S. spending slows. Meanwhile, the UK Fashion and Textile Association warns that tariffs on Chinese-made materials—whether imported directly or through third countries—could disrupt global supply chains.

Paper and Packaging Industry Sees Mixed Impact

While the European pulp and packaging industry may initially benefit from the U.S. tariffs, Canadian producers could be forced to shut down mills due to rising costs. This could open market opportunities for EU-based companies like Sweden’s SCA.

However, if the U.S. retaliates with tariffs on European goods, those short-term gains could vanish. Additionally, a slowdown in Chinese demand or a decline in global trade could weigh on the industry.

Cryptocurrency Market Plunges Amid Uncertainty

Digital currencies have been caught in a global sell-off, wiping out $500 billion in market value. Bitcoin, the world’s largest cryptocurrency, fell to a three-week low of $91,442 before rebounding to $101,240. Ethereum remains down, trading at $2,706.

Cryptocurrency markets react 24/7 to geopolitical events, and analysts say the tariffs triggered panic selling. Hopes for a crypto boom under Trump—who has pro-crypto figures in his administration—have been dampened by fears of escalating global trade tensions.

Commodities and Energy Markets Face Volatility

Global commodities markets reacted sharply to Trump’s tariff announcement. Shares of major mining companies, including BHP, Rio Tinto, Anglo American, and Glencore, all fell on concerns that a trade war could weaken global growth and reduce metal demand.

Gold, often a safe-haven asset in times of uncertainty, hit a record high of $2,817.23 per ounce on Friday, dipped on Monday, and rebounded to $2,833.90 by the evening. Oil markets remain volatile, with Brent crude priced at $75.59 per barrel and West Texas Intermediate at $72.58, reflecting concerns over both economic slowdowns and supply disruptions.

What’s Next?

The temporary delay of tariffs on Canada and Mexico has eased tensions slightly, but Trump’s aggressive stance on Chinese imports and his willingness to expand tariffs on other sectors suggest further economic volatility ahead.

As companies worldwide adjust supply chains, absorb rising costs, and navigate shifting consumer demand, Trump’s tariff war is only just beginning—and the full impact on the global economy remains to be seen.

OpenAI, the company behind ChatGPT, is reportedly in discussions to raise approximately $40 billion in fresh funding, nearly doubling its valuation to as much as $340 billion. The San Francisco-based AI firm was last valued at $157 billion in October 2024 after securing a $6.6 billion investment.

In a new round of financing, SoftBank is expected to lead the investment, contributing between $15 billion and $25 billion, according to sources close to the deal. A portion of the funding will be directed towards Stargate, a joint venture between OpenAI, Oracle, and SoftBank. Stargate has committed up to $500 billion to help the U.S. maintain its competitive edge over China in the AI sector. SoftBank’s latest investment will be in addition to the $15 billion it had previously pledged to the project.

OpenAI was founded in 2015 as a not-for-profit organization by Sam Altman, Elon Musk, and others. It shifted to a “capped-profit” model in 2019, with Musk departing in 2018 due to conflicts with Tesla’s own AI initiatives. Under Altman’s leadership, OpenAI has become one of the world’s most valuable private companies and a major player in the race to commercialize AI technologies, particularly those powered by large language models like ChatGPT.

However, OpenAI now faces increasing competition. Chinese AI startup DeepSeek recently unveiled its R1 chatbot, which it claims rivals ChatGPT at a significantly lower cost. Altman acknowledged the impressive capabilities of DeepSeek’s model in a recent post on X (formerly Twitter). “DeepSeek’s R1 is an impressive model, particularly around what they’re able to deliver for the price,” Altman wrote.

In response to the competition, OpenAI announced on Wednesday that it is investigating whether DeepSeek has “inappropriately distilled our models.” The company emphasized its commitment to protecting its technology and stated that it continues to work closely with the U.S. government to safeguard its most advanced AI models.

OpenAI has not yet commented on the reports regarding its new funding round. If successful, this fresh round of investment would solidify the company’s position as a leader in the rapidly growing AI sector, but it will also intensify the ongoing competition with both domestic and international players in the field.

More than one in five UK employees feel unable to discuss their mental health struggles in the workplace, according to new research highlighting persistent stigma and a lack of employer support.

The study, based on data from the Health and Safety Executive (HSE) and the Chartered Institute of Personnel and Development (CIPD), reveals that 7.5 million workers experience anxiety, depression, or stress caused or worsened by their jobs. Despite these challenges, they do not feel safe disclosing their difficulties to their employers.

A significant gender divide emerged in the findings, with 3.9 million men reporting workplace-related mental health issues without seeking support. This figure is 8% higher than the 3.5 million women who experienced similar struggles, suggesting that men may feel a greater reluctance to ask for help.

Industry-Wide Disparities

The research also identified stark differences across industries. The automotive sector had the highest proportion of employees suffering in silence, with 1.13 million workers reporting unaddressed mental health concerns. This was closely followed by the health and social care sector, where 1.11 million employees kept their struggles private.

In contrast, the arts, entertainment, and recreation industry recorded the lowest number of workers suffering unseen, at 264,000. The financial and insurance sector followed closely behind, with 256,000 employees reluctant to speak up about their mental health challenges.

Calls for Workplace Change

Richard Stockley, Managing Director at RRC International, which conducted the research, described the findings as “shocking.” He emphasized that while progress has been made in addressing mental health stigma, many workers still do not feel comfortable discussing their struggles.

“Our research shines a very necessary light on the issue, helping employers better understand just how widespread mental health challenges are,” Stockley said. “Change begins in the workplace, and with the right culture and training, employers can ensure their businesses are safe spaces for all who work there.”

The findings underscore the need for businesses to foster open discussions about mental health and provide proper support structures for employees. Experts suggest that implementing mental health training for managers, offering confidential support services, and promoting an inclusive workplace culture could help break down barriers and encourage workers to seek help without fear of stigma or repercussions.

As workplace mental health remains a growing concern, the study serves as a wake-up call for employers to take meaningful steps toward improving employee well-being and creating an environment where mental health can be discussed openly and without fear.