Raphael Stevens

Six of the top policy groups representing the U.S. automotive industry are uncharacteristically joining forces to lobby the Trump administration against 25% tariffs on auto parts that are set to take effect May 3.
The group – representing franchised dealers, suppliers and nearly all major automakers – say the upcoming levies could jeopardize U.S. automotive production.
The letter is addressed to U.S. Treasury Secretary Scott Bessent, U.S. Department of Commerce Secretary Howard Lutnick and U.S. Trade Representative Ambassador Jamieson Greer.

Jamell Harris loads raw casting heads to be manufactured at the Stellantis Dundee Engine Complex on August 18, 2022 in Dundee, Michigan.
Bill Pugliano | Getty Images

DETROIT – Six of the top policy groups representing the U.S. automotive industry are uncharacteristically joining forces to lobby the Trump administration against 25% tariffs on auto parts that are set to take effect by May 3.
The group – representing franchised dealers, suppliers and nearly all major automakers – say in a letter to Trump administration officials that the upcoming levies could jeopardize U.S. automotive production. The letter notes many auto suppliers are already “in distress” and wouldn’t be able to afford the additional cost increases, leading to broader industry problems.

“Most auto suppliers are not capitalized for an abrupt tariff induced disruption. Many are already in distress and will face production stoppages, layoffs and bankruptcy,” the letter reads. “It only takes the failure of one supplier to lead to a shutdown of an automaker’s production line. When this happens, as it did during the pandemic, all suppliers are impacted, and workers will lose their jobs.”
The letter, dated April 21, is addressed to U.S. Treasury Secretary Scott Bessent, U.S. Department of Commerce Secretary Howard Lutnick and U.S. Trade Representative Ambassador Jamieson Greer.
It is signed by the heads of the Alliance for Automotive Innovation, American International Automobile Dealers Association, Autos Drive America, vehicle suppliers association MEMA, National Automobile Dealers Association, and American Automotive Policy Council.
The joint letter is uncharacteristic, if not unprecedented, for the automotive industry. The organizations rarely, if ever, sign on to a single joint message.
The groups say they represent the country’s No. 1 manufacturing sector that supports 10 million American jobs in all 50 states and pumps $1.2 trillion into the economy every year.

Automakers not represented by the groups include electric vehicle makers Tesla Motors, Rivian Automotive and Lucid Group.
“President Trump has indicated an openness to reconsidering the administration’s 25 percent tariffs on imported automotive parts – similar to the tariff relief recently approved for consumer electronics and semiconductors. That would be a positive development and welcome relief,” the letter reads.
The letter comes a week after President Donald Trump said he may “help” some auto companies that need more time to move or increase U.S. vehicle production.
“I’m looking for something to help some of the car companies, where they’re switching to parts that were made in Canada, Mexico and other places, and they need a little bit of time because they’re going to make them here,” Trump said April 14. “But they need a little bit of time, so I’m talking about things like that.”
Auto executives and experts have told CNBC Trump’s tariffs are more dire for auto suppliers than the automakers themselves. The impact could cause a ripple effect through the global supply chain, they say.
Auto officials are expecting a drop in vehicle sales amounting to millions of units, higher new and used vehicle prices, and increased costs of more than $100 billion across the industry, according to research reports from Wall Street and automotive analysts.
“We support more manufacturing and additional supply chains that run through the United States, but it is not possible to reroute global supply chains overnight or even in months. This will take time,” reads the letter. More

The Food and Drug Administration is phasing out the use of artificial dyes by the end of next year.
The policy change will hit food and drink companies like PepsiCo, General Mills and WK Kellogg.
The so-called Make America Healthy Again platform argues a corrupt alliance of drug and food companies and the federal health agencies that regulate them are making Americans less healthy.

Candy is displayed for sale, as U.S. Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr., along with FDA Commissioner Marty Makary, announce the FDA’s intent to remove from the U.S. food supply “petroleum-based synthetic” food dyes, which are present in numerous foods such as breakfast cereals, candy, snacks, and beverages, at a grocery store in Medford, Massachusetts, U.S., April 22, 2025.
Brian Snyder | Reuters

The fluorescent red of Flamin’ Hot Cheetos, the brilliant teal of Mountain Dew Baja Blast and the colorful rainbow of Skittles may soon be dimmed.
The Food and Drug Administration is phasing out the use of petroleum-based synthetic dyes by the end of next year, the agency announced on Tuesday.

“For the last 50 years, American children have increasingly been living in a toxic soup of synthetic chemicals,” FDA Commissioner Marty Makary said at a press conference.
Food and beverage companies use additives like red dye 40 to give cereal, chips, sports drinks and other products bright hues that attract shoppers. But backlash against artificial colorants has been brewing in the U.S. for more than a decade.
The changes will affect a slew of food giants, including PepsiCo, General Mills, Mars and WK Kellogg. The industry has argued that the claims about the dangers of artificial dyes lack evidence that would support any bans.
As of Tuesday, the FDA and the food industry don’t have a formal agreement to remove artificial dyes but instead “an understanding,” according to Health Secretary Robert F. Kennedy Jr. It is unclear what enforcement actions the agency would take if food and beverage companies do not comply.
“There are a number of tools at our disposal,” Makary said. “I believe in love, let’s start in a friendly way and see if we can do this without any statutory or regulatory changes, but we are exploring every tool in the toolbox to make sure this gets done very quickly. And they want to do it — so why go down a complicated road with Congress?”

The FDA is taking several actions, including setting a “national standard” and timeline for the food industry to transition from petroleum-based food dyes to natural alternatives, according to Makary. The agency is also initiating a process to revoke authorization of synthetic food colorings, including those not in production, within the coming weeks.
He added that the FDA is also eliminating the remaining six synthetic dyes on the market from the U.S. food supply by the end of the year, specifically red dye 40, yellow dye 5, yellow dye 6, blue dye 1, blue dye 2 and green dye 2. It is also requesting food companies to phase out red dye 3 by the end of next year, which is sooner than the 2027 to 2028 deadline previously announced, according to Makary.
“For companies that are currently using petroleum based red dye, try watermelon juice or beet juice. For companies currently combining petroleum-based yellow chemical and red dyes together, try carrot juice,” he said. 

U.S. Food and Drug Administration (FDA) Commissioner Marty Makary holds up a study from The Lancet during an announcement of the FDA’s intent to phase out the use of petroleum-based synthetic dyes in the nation’s food supply during a press conference at the Department of Health and Human Services in Washington, D.C., U.S., April 22, 2025. REUTERS/Elizabeth Frantz
Elizabeth Frantz | Reuters

Makary added that the agency plans to authorize four additional color additives using natural ingredients in the coming weeks, while also expediting the review and approval of other natural ingredient colors.
Makary cited a Lancet study that concluded that artificial colors in the diet “result in increased hyperactivity.”
“The F in FDA stands for food,” he said. “Now, there’s no one ingredient that accounts for the child chronic disease epidemic. And let’s be honest, taking petroleum-based food dyes out of the food supply is not a silver bullet that will instantly make America’s children healthy, but it is one important step.”
Last month, Kennedy told top food executives that removing artificial dyes from the food system is an urgent priority of the Trump administration. Meeting attendees included the CEOs of PepsiCo North America, Kraft Heinz, General Mills, Tyson Foods, WK Kellogg, J.M. Smucker and the Consumer Brands Association, the industry’s top trade group.
Kennedy has used Kellogg’s Froot Loops as his primary example when railing against artificial colorants.
While it is unclear exactly how removing dyes could affect the companies’ businesses, it will be a major effort to overhaul recipes — and the new looks could affect how consumers perceive the products.
Makary said phasing out petroleum-based food dyes won’t increase food prices, pointing to other countries that have made similar moves. However, synthetic dyes are generally more cost-effective than natural alternatives, which often require larger quantities to achieve vibrant colors and can carry higher production costs, according to some reports and one natural ingredient manufacturer.
Previously, pushback from consumer advocates led some of the companies to tweak their formulas and drop artificial dyes without any government intervention. In 2015, Kraft Heinz changed the recipe of its trademark mac and cheese to use the same natural colors found in the European version of the product.
But the changes don’t always stick. In 2017, General Mills reversed course, putting its artificially colored Trix cereal back on shelves. The naturally dyed cereal, which used turmeric, radishes and purple carrots, was not as vibrant, and customers rejected the new version.
Kennedy is at the helm of a $1.7 trillion agency that oversees food and tobacco products, vaccines and other medicines, scientific research, public health infrastructure and government-funded health care. After just two months on the job, he has drastically changed the nation’s federal health agencies. 

U.S. Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr. leaves the stage after discussing the findings of the Centers for Disease Control and Prevention’s (CDC) latest Autism and Developmental Disabilities Monitoring (ADDM) Network survey, at the Department of Health and Human Services in Washington, D.C., U.S., April 16, 2025.
Elizabeth Frantz | Reuters

In March, he announced plans to slash 10,000 full-time employees across different departments and consolidate divisions. He has cut back crucial parts of HHS, including offices that handle HIV prevention efforts and work to eliminate health-care disparities. The Food and Drug Administration is also suspending a quality control program for testing fluid milk and other dairy products due to reduced capacity in its food safety and nutrition division, Reuters reported on Tuesday.
Kennedy’s so-called Make America Healthy Again platform argues a corrupt alliance of drug and food companies and the federal health agencies that regulate them are making Americans less healthy. He has pledged to end the chronic disease epidemic in children and adults, and has been vocal about making nutritious food, rather than drugs, central to that goal.
In January, before President Donald Trump or Kennedy took office, the Food and Drug Administration revoked its authorization of one type of red food dye called Red No. 3. The dye is known to cause cancer in laboratory animals, but food manufacturers were allowed to use it for years because scientists didn’t believe it raised the risk of cancer in humans at the level it is typically consumed.
At least one company is benefitting from the ban on artificial dyes: McCormick, which helps companies tweak their flavors and formulas.
“Now, reformulation activity has always been a part of the work that we do with our customer base, and we’ve been doing that for quite some time, but we are seeing a tick up in reformulation activity,” McCormick CEO Brendan Foley told analysts on the company’s earnings call in late March, adding that companies are seeking help cutting both artificial colors and sodium from their products. More

In an apparent move to crack down on password sharing outside the home, Warner Bros. Discovery’s streaming service Max has launched a new feature it’s calling Extra Member Add-On.
Similar to Netflix’s paid sharing model, the new feature allows users to add an extra person who does not live in the same household to their subscription for a monthly fee.
Priced at $7.99 a month, the friend or family member of the primary account owner gets their own stand-alone account under the same subscription.
At least for now, the option is limited to one add-on profile per subscription.

Jakub Porzycki | Nurphoto | Getty Images

Warner Bros. Discovery is taking a page out of Netflix’s playbook.
In an apparent move to crack down on password sharing outside the home, the company’s streaming service Max has launched a new feature it is calling Extra Member Add-On. Similar to Netflix’s paid sharing model, the new feature allows users to add an extra person who does not live in the same household as the primary account holder to their subscription for a monthly fee.

Priced at $7.99 a month, the friend or family member of the account owner gets their own stand-alone account under the same subscription. Existing profiles attached to customers who do not live within the primary household can be transferred to these new account types, which means their watch history and recommendations will follow them to the new account.
At least for now, the option is limited to one add-on profile per subscription.
Netflix long teased its password crackdown before implementing similar changes in 2023, a strategy that was quickly adapted by Disney last fall for its Disney+ service.
“Extra Member Add-On and Profile Transfer are two key Max advancements, designed to help viewers with a new way to enjoy our best-in-class content at an exceptional value, and offer subscribers greater flexibility in managing their accounts,” said JB Perrette, CEO of global streaming and games at Warner Bros. Discovery, in a statement Tuesday. 
Warner Bros. Discovery’s plan to cut down on password sharing was floated back in December. The move comes as streamers attempt to boost revenue from these direct-to-consumer platforms and sustain profitability.

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Even with stock market swings and tariff worries, the broker for a newly listed $110 million penthouse in Manhattan says buyer interest has been strong.
The four-floor listing at 111 West 57th St. spans 11,480 square feet and is being pitched as a rare collector’s item for global elites.
Outside the ultra-high end, brokers say luxury homebuyers are more cautious, taking longer, negotiating harder and focusing on value.

Since launching the quadplex earlier this month, listing agent Nikki Field with Sotheby’s said interest has been encouraging: “Several highly qualified individuals have already inquired and toured the residence. There’s real momentum.”
Rendering provided by Sotheby’s International Realty

As the Dow Jones Industrial Average plunged and tariff headlines rippled through global markets, a different number was turning heads in Manhattan: A newly listed $110 million penthouse, now the most expensive home for sale in New York City.
The listing debuted April 3 during one of Wall Street’s most turbulent weeks on record. That day, the Dow fell 1,679 points, shedding 4%. The day after, it lost another a 2,231 points. Markets have been turbulent ever since as trade policy uncertainty leaves investors uneasy.

Sotheby’s International Realty broker Nikki Field, who represents the Manhattan listing, said the market swings haven’t rattled her target buyers.
“This buyer segment remains untouched by market volatility,” Field said. “They’re not reacting to headlines or fluctuations. They’re focused on curating world-class portfolios, and ultra-prime residential real estate continues to be a core asset class for them.”
The property in question is a rare bundled offering atop the landmark Steinway Tower at 111 West 57th St. Penthouse 80 and Penthouse 82 are being marketed together as a potential quadplex, spanning the tower’s top four levels, which feature private elevator access. Combined, they offer 11,480 square feet, five bedrooms, six bathrooms, multiple lounges, and a 618-square-foot terrace with sweeping views of Central Park and both rivers on either side of Manhattan.

Altogether, the combined square footage totals 11,480 square feet, with five bedrooms, six bathrooms, multiple lounges, and a 618-square-foot terrace offering panoramic views of Central Park and both rivers.
Rendering provided by Sotheby’s International Realty

“While the homes remain physically separate today, the opportunity lies in their architectural potential,” Field said.
According to Sotheby’s, neither unit has ever been publicly listed or marketed individually.

Though currently uncombined, the two mega-residences are being marketed as a potential quadplex spanning the tower’s top four levels.
Rendering provided by Sotheby’s International Realty

Since launching the quadplex listing earlier this month, Field says buyer interest has been strong.
“Several highly qualified individuals have already inquired and toured the residence. There’s real momentum,” she said.
According to reporting from The Real Deal, Field and her team took over sales at 111 West 57th St. in July, replacing Corcoran Group and becoming the third brokerage since the building launched in 2018.

Penthouse premium

The 220 Central Park South building, center, stands in New York, U.S., on Wednesday, Jan. 23, 2019.
Jeenah Moon | Bloomberg | Getty Images

For context, Griffin’s acquisition totaled approximately $10,420 per square foot. The $110 million listing at 111 West 57th St., at 11,480 square feet, comes in at roughly $9,578 per square foot.
Still, Miller cautioned against reading too much into these sky-high sales: “They should be viewed as one-off sales and not attached to local luxury housing markets.”

Shifts in the high-end market

While Field remains bullish on ultra-prime demand, some brokers in the broader luxury market are seeing more hesitation.
A recent Wall Street Journal report found that more luxury buyers are backing out of deals due to the instability.
“The lack of a clear strategy on tariffs has created economic uncertainty,” Miller said. “And that’s expected to slow housing activity.”
According to Realtor.com’s 2025 High-End Housing Market Trends and Outlook report, the wealthiest 10% of Americans hold most of their assets in the stock market, about 36.3% in corporate stocks and mutual funds. Real estate made up 18.7% of their total wealth.
“No one likes uncertainty … that’s the worst thing for real estate. And right now, no one really knows what’s next,” said Douglas Elliman New York City luxury broker Noble Black. “Some clients believe tariffs could lead to inflation and ultimately higher property values. Others are using this as a chance to move out of financial markets and into real estate.”
Still, there are signs of resilience at the high end.
According to the Olshan Luxury Market Report, which tracks Manhattan contracts for homes priced at $4 million and above, 33 contracts were signed between April 14 and April 20, that’s up from 29 such contracts the previous week.
“It was a surprisingly strong showing for the luxury market,” Donna Olshan noted in the report, especially given the holiday calendar and market volatility.

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In Los Angeles, luxury broker Aaron Kirman of Christie’s International Real Estate said buyers and sellers aren’t on the same page.
“The market’s split: Buyers are cautious, sellers are still hoping for 2020-2021 prices,” he said. “That gap is where deals either die or get done.”
Still, some sellers are starting to adjust, Kirman said.
“We’ve seen price cuts quietly offered to specific buyers or brokers, rather than advertised,” he added. “It’s about preserving perception while staying competitive.”
And buyers, he said, are getting more strategic.
“They’re active, but conservative,” said Kirman, favoring all-cash offers, clean terms and longer inspection windows. “They’re negotiating harder for price, furnishings and closing flexibility.”
Kirman noted that increased caution is also extending sale timelines.
“What used to take three to six months might now take nine to 12, unless it’s a turnkey estate that checks every box,” Kirman noted. “Patience is more necessary now.”
In South Florida, luxury broker Senada Adzem with Douglas Elliman emphasized the high-end luxury market isn’t declining, but shifting.
“It’s sellers adapting to today’s more discerning and anxious buyers,” she said.
According to Adzem, buyers in the $5 million to $10 million range are laser-focused on value, carefully evaluating comparisons and whether the home delivers on lifestyle needs. 
“There’s definitely more negotiation and selectivity in that space,” Adzem said.
But in the $20 million-plus tier, she said, priorities shift.
“Buyers at that level are pursuing rarity, trophy properties, irreplaceable waterfront. When the right opportunity surfaces, price is important but not paramount,” she said. “At the ultra-high end, it’s less about timing the market and more about securing a unique asset that fits into a long-term vision or legacy.” More

Aerospace giant RTX said it expects a $850 million impact from tariffs, while GE estimated about $500 million.
GE Aerospace’s CEO, Larry Culp, said he recently met with President Donald Trump.
The aerospace industry, including companies that produce engines, airplanes and other products in the United States, relies on a global supply chain.

Men work with a jet engine at General Electric (GE) Celma, GE’s aviation engine overhaul facility in Petropolis, Rio de Janeiro, Brazil.
YASUYOSHI CHIBA | AFP | Getty Images

RTX and GE Aerospace expect a more than $1 billion impact combined from President Donald Trump’s tariffs on imported goods and materials, the latest sign of higher prices for major U.S. manufacturers that rely on a global supply chain.
Neil Mitchill, chief financial officer of defense contractor and commercial aerospace supplier RTX, said on an earnings call Tuesday that the company will likely take a $850 million hit this year from tariffs, including the sweeping 10% levies that Trump imposed earlier this month alongside higher duties on countries like China and separate taxes on imported steel and aluminum.

That estimate doesn’t include RTX’s own tariff mitigation measures, Mitchill said.
GE Aerospace, which makes engines for popular Boeing and Airbus planes, kept its 2025 earnings outlook in place during its quarterly report Tuesday and said it would seek to save about $500 million by cutting costs and raising prices.
GE Aerospace CEO Larry Culp said on Tuesday’s analyst call that he recently met with Trump and discussed the U.S. aerospace sector’s trade surplus. GE has a joint venture with France’s Safran to make popular airplane engines.

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The new tariffs are a shift for a global industry that has enjoyed mostly duty-free trade for decades.
“All we have suggested is the administration works through a myriad of issues, is they can consider the position of strength that the country enjoys as a result of this tariff-free regime,” Culp said.

The White House didn’t immediately comment.
Boeing, a major customer of both companies and the top U.S. exporter, is scheduled to report quarterly results before the market opens on Wednesday.
Airlines have recently announced cuts to U.S. domestic capacity plans this year because of softer demand, but executives have emphasized it is hard to predict the direction of the economy or future trade policies. United last week provided two earnings outlooks for 2025, one in the event of a recession, one assuming status quo.
“There is uncertainty,” Culp said Tuesday. “None of us, I think, know for sure how this plays out.”

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