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    Pfizer scraps daily weight loss pill after liver injury in one patient

    Pfizer said it would end development of its experimental daily weight loss pill after a patient experienced a liver injury that was potentially caused by the drug in a trial. 
    The patient’s liver enzymes “recovered rapidly” after they stopped taking the pill, which is an oral GLP-1 drug called danuglipron.
    The patient had elevated liver enzymes, which often indicate damage to cells in the liver, but did not experience any liver-related symptoms or side effects, a Pfizer spokesperson told CNBC.
    The announcement adds to a string of setbacks in the company’s bid to win a slice of the booming market for GLP-1s, which mimic gut hormones to tamp down appetite and regulate blood sugar. 

    Nikos Pekiaridis | Lightrocket | Getty Images

    Pfizer on Monday said it would end development of its experimental daily weight loss pill after a patient experienced a liver injury that was potentially caused by the drug in a trial. 
    The patient did not experience any liver-related symptoms or side effects, a Pfizer spokesperson said in a statement. They added that the patient’s liver enzymes “recovered rapidly” after they stopped taking the pill, which is an oral GLP-1 drug called danuglipron. The statement suggests that the patient’s liver enzymes were elevated, which often indicates damage to cells in the organ and is an issue that has been linked to some other obesity drugs.

    The case occurred in a trial that quickly increased the dose of the pill over a short period of time, the spokesperson said. Pfizer’s decision to halt development of the drug came after “a review of the totality of information, including all clinical data generated to date for danuglipron and recent input from regulators,” according to a release.
    “While we are disappointed to discontinue the development of danuglipron, we remain committed to evaluating and advancing promising programs in an effort to bring innovative new medicines to patients,” Dr. Chris Boshoff, Pfizer’s chief scientific officer, said in the release. He added that the company is still developing other weight loss drugs.
    The announcement adds to a string of setbacks in the company’s bid to win a slice of the booming market for GLP-1s, which mimic certain gut hormones to tamp down appetite and regulate blood sugar. Pfizer is among several drugmakers racing to bring a more convenient weight loss medicine to a space dominated by weekly injections, but it is years behind competitors such as Eli Lilly and Novo Nordisk.
    Some Wall Street analysts expect the GLP-1 industry to be worth more than $150 billion by the early 2030s. Oral GLP-1s could grow to be worth $50 billion of that total, while injections would account for the rest, according to some analyst estimates.

    More CNBC health coverage

    This is not Pfizer’s first set back with danuglipron, specifically, either. The company discontinued a twice-daily version of the pill in December 2023 after patients had trouble tolerating the drug in a mid-stage study.

    But Pfizer appeared to be confident in the once-daily form of danuglipron back in July, when it said it would start conducting studies in the second half of the year to evaluate multiple doses of the pill.
    Despite its decision to scrap the drug, Pfizer on Monday said those studies met key goals and confirmed a certain form and dose of the pill with the potential to deliver “competitive efficacy and tolerability” in late-stage trials.
    The company also noted that the rate of elevated liver enzymes in people who have taken danuglipron is in line with approved GLP-1 drugs, which is based on a safety database of more than 1,400 patients who have taken Pfizer’s pill.
    Pfizer scrapped a different once-daily obesity pill back in June 2023 after patients who took that drug had higher liver enzyme levels in a mid-stage trial. Investors have been pessimistic about the company’s potential in the GLP-1 space ever since.
    Still, Pfizer has other experimental obesity drugs in its pipeline in the early stages of development that appear to work differently from its now-discontinued treatments. That includes an oral drug that blocks another gut hormone called GIPR, which entered phase two trials last year, and an additional once-daily oral GLP-1 in phase one trials.
    Pfizer believes a drug targeting GIPR could be more effective and easier for patients to tolerate, former Chief Scientific Officer Mikael Dolsten, who has since left the company, told investors in October. He added that “there are so many applications for GLP-1s.”
    Pfizer’s danuglipron promotes weight loss by targeting GLP-1, which is also how Novo Nordisk’s weight loss injection Wegovy and diabetes treatment Ozempic work. Eli Lilly’s weight loss injection Zepbound and diabetes shot Mounjaro target GLP-1 but also activate another gut hormone called GIP.
    The only oral GLP-1 approved by the Food and Drug Administration so far is Novo Nordisk’s Rybelsus, which treats Type 2 diabetes and raked in about $3.38 billion in sales in 2024.
    Pfizer’s announcement Monday comes as the company regains its footing and recovers its share price after the rapid decline of its Covid business. Pfizer is betting on its pipeline of cancer drugs to deliver long-term growth, but has emphasized that obesity is a key focus. 

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    Op-ed: NYSE systems are working normally, handling record volume more efficiently than during Covid crash, president says

    Lynn Martin, NYSE President, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025.
    Gerry Miller | CNBC

     The great American entrepreneur Henry Ford once said, “The only real security that a man can have in this world is a reserve of knowledge, experience and ability.” In surveying the recent volatility in global financial markets from my perch as president of the New York Stock Exchange, I believe this notion remains as true today as it did 100 years ago.
    After 233 years, the New York Stock Exchange remains the beating heart of the global financial system. In recent weeks, the faces of our trading floor have been seen on the front pages of newspapers from New York to Tokyo. Our real-time market data is on constant display across television news and social media.

    From my conversations with investors — ranging from everyday retail traders to the world’s largest asset managers — I thoroughly understand the challenges posed by the recent market turmoil.
    Separate from the ups and downs of our markets, though, Americans should feel assured by another trend from recent weeks: The infrastructure and operational practices underpinning our markets are the envy of the world and have met the challenge posed by recent volatility.
    U.S. markets come from humble beginnings. The New York Stock Exchange was started in 1792 by a group of twenty-four stockbrokers who met outdoors under a buttonwood tree. That has evolved from a structure which was once dominated by people shouting “buy” or “sell” to one that today blends the best of human judgment interacting with state-of-the-art technology.
    Since April 3, our designated market makers have taken manual control of the opening and closing auctions at more than two times their usual rate to mitigate the market’s extreme volatility. This flexibility, unique to our model, has fostered greater engagement from market participants, with NYSE’s opening and closing auctions growing more than 20% to handle over 32 billion dollars in trading activity per day.
    We’ve also seen trades settle and clear more efficiently than the last time our systems were battle tested. Following the Covid-19 market sell-off, the exchange industry accelerated the time to settle trades from two days to one — increasing certainty and diminishing risk.

    With dramatic swings in the Dow, S&P 500 and other major indices, U.S. exchanges are absorbing a record number of transactions and volume. At the New York Stock Exchange, we have struck a record volume of trades on our exchanges three times in the last seven days — peaking on April 9 with over 30 billion shares exchanged hands.
    On April 7 and April 9, we processed more than 1 trillion incoming orders to buy or sell shares in a single day, with a median processing time of around 30 microseconds. Said differently, efficient certainty of execution has never been more crucial from a risk management perspective and the ecosystem has risen to the occasion.
    Amid great uncertainty, our markets have provided investors with the freedom to digest global events, make investment decisions and execute trades with unrivaled speed and accuracy.
    It is no accident that our system is working. It’s a system we have built and refined over more than two centuries. We make constant, immense investments in our technology. We push our teams to innovate. We prepare for every crisis imaginable.
    In moments of uncertainty like these, we are constantly guided our north star of protecting the integrity of the U.S. market infrastructure. We rely on our reserve of knowledge and our experience to ensure the market’s strength and resiliency and the collective efforts from the financial industry maintain the U.S.’s position as the largest and most robust financial market in the world.
    When it comes to risk management, and what it takes to run the largest and most robust markets in the world, Henry Ford got it right. More

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    Airlines bank even more on splurging vacationers as clouds form on economy

    Some airline CEOs have warned about a murky U.S. economic picture and weaker near-term domestic demand.
    Carriers are hoping that leisure travelers willing to treat themselves to pricier, roomier seats.
    But with problems brewing, consumers might be able to find better deals, even to popular international destinations.

    A view from the Delta Sky Club at Los Angeles International Airport, Sept. 2, 2022.
    AaronP | Bauer-Griffin | GC Images | Getty Images

    Airlines have a bird’s eye view of the economy, and CEOs are seeing clouds.
    Delta Air Lines and Frontier Airlines pulled their 2025 outlooks last week, calling out a murky U.S. economic picture and weaker near-term demand.

    Airline CEOs are warning about slowing bookings, including weaker corporate travel, citing President Donald Trump’s trade war, mass government layoffs, fewer visitors from Canada and other countries, and more recently, weaker demand for domestic coach seats as price-sensitive consumers grow skittish about planning trips.
    Consumer sentiment tumbled this month, according to a University of Michigan survey. Bank of America said in a report Thursday that consumer spending on “nice to have” discretionary services like restaurants and tourism slipped in February and March.
    “I think we’re acting as if we’re going to a recession,” Delta CEO Ed Bastian told CNBC’s “Squawk Box” on Wednesday. “I think everybody is going into a defensive posture.”
    It’s a sharp change from the start of the year, when Bastian said 2025 was set to be the “best financial year” in the century-old airline’s history.

    Not ‘meant to live an uncomfortable life’

    Now, airlines are banking even more on wealthier leisure travelers, a big driver of record revenue in the wake of the pandemic. They’re hoping those consumers will continue to treat themselves to pricier, roomier seats, despite global market turmoil and a more concerning economic picture.

    Budget travel icon Spirit Airlines last week used a beloved line from Parker Posey’s North Carolinian character in “The White Lotus” in an ad for the carrier’s priciest and roomiest seats.
    “I just don’t think at this age, I’m meant to live an uncomfortable life,” Spirit quoted on its Instagram account above a picture of its “Big Front Seat,” which can fetch three times the price of a standard seat in exchange for more legroom and other perks.
    Airlines are hoping that other travelers share the sentiment.
    Carriers and credit card companies for years have been expanding their plush airport lounges. Airlines have also been racing to outfit their planes with more premium seating, like suites with doors. Air France and Lufthansa recently unveiled new, spacious first-class cabins, and demand is so high for stepped-up first- and business-class seats, which have hundreds of parts and require regulator approval, that it’s holding up deliveries of new planes.
    Delta and Frontier said they are pulling back their growth plans or even reducing capacity, especially for off-peak domestic trips on certain days of the week like Tuesday or Wednesday.
    So far, executives are more optimistic about the expensive international routes and for seats like long-haul business class and premium economy.

    “The impact has been most pronounced in domestic and specifically in the main cabin with softness in both consumer and corporate travel,” said Delta’s president, Glen Hauenstein, on an earnings call last week. “While not immune in this environment, we do continue to see greater resilience in international and our diversified revenue streams, including premium and loyalty, reflecting underlying strength of our core consumer.”
    Delta has already seen premium-segment revenue such as first-class seats or premium economy on international long-haul trips, grow faster than main cabin. Hauenstein says that’s about to step up.
    Premium revenue continues “to widen the lead over main cabin,’ he said. “So we’re expecting the spreads and the yields to actually widen in this next quarter as opposed to converge.”
    United Airlines, which is Delta’s closest rival, has a sprawling international network and has invested heavily in high-end refurbishments, lounges and flashy new destinations aimed at wealthier, globe-trotting customers. That carrier will provide more insight into consumer trends when it reports quarterly results this week.
    American, Southwest and other airlines report in the following weeks.

    ‘Stars are aligning’

    Even as airlines have high hopes for higher-paying customers, there are problems brewing in international travel, too.
    Delta and United have said they are paring back some of their Canada-U.S. flights, echoing comments from Canadian carriers as U.S.-bound travel demand falls, a trend that’s threatening to further widen the $50 billion U.S. international travel deficit.

    Read more CNBC airline news

    Non-U.S. citizen visitor arrivals in the United States last month totaled about 4.5 million, down nearly 13% from 2019, before the pandemic, and down nearly 10% from last year, according to the U.S. Commerce Department.
    Weaker demand is set to bring more deals, and airlines have run fare sales even through late spring. But it could even mean cheaper flights to popular international destinations.
    “This is probably the best summer for Europe travel I’ve seen years,” said Scott Keyes, founder of travel deal site Going, formerly known as Scott’s Cheap Flights.
    “I don’t think there would have been all that much hope for it in 2022, 2023 and 2024,” he said. “The stars are aligning to boost the odds.”

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    A flight from the dollar could wreck America’s budget

    In 1990s Japan the worst days of a market crisis brought about a “triple yasu” loss: a fall in stockmarkets, a rise in bond yields and a declining currency. It is now America that must stomach this noxious combination. Although President Donald Trump’s tariff pause provided a brief respite, the triple yasu has made an unwelcome return. Most alarming lately have been movements in the bond and currency markets. In total since April 1st the dollar has fallen by more than 4% against a basket of major currencies, at the same time as yields on ten-year Treasury bonds have risen by 0.3 percentage points (see chart). More

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    A flight from the dollar could wreck America’s finances

    In 1990s Japan the worst days of a market crisis brought about a “triple yasu” loss: a fall in stockmarkets, a rise in bond yields and a declining currency. It is now America that must stomach this noxious combination. Although President Donald Trump’s tariff pause provided a brief respite, the triple yasu has made an unwelcome return. Most alarming lately have been movements in the bond and currency markets. In total since April 1st the dollar has fallen by more than 4% against a basket of major currencies, at the same time as yields on ten-year Treasury bonds have risen by 0.3 percentage points (see chart). More

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    Sports teams adopt tactile tech for blind and low-vision fans

    Professional sports teams are partnering with startups to introduce technology for blind and visually impaired fans to better experience live games.
    The NBA, MLB and the Premier League have joined in efforts to get new devices to fans.
    Experts say the greater challenge is for teams and developers to sustain their partnerships and not just abandon the technology.

    Jordan Moon (left) and Macaulay Beasley (right) use OneCourt tablets at the Phoenix Suns vs. Minnesota Timberwolves game in Phoenix on March 2.
    Courtesy: Phoenix Suns

    During a break at the March 2 game between the NBA’s Phoenix Suns and Minnesota Timberwolves, a player made a half-court shot that had the crowd buzzing at PHX Arena. Normally, that’s something Jordan Moon would’ve missed; as a blind person, he’d have to ask somebody else what just happened.
    But while he didn’t see the shot, he could feel it. Moon was part of a group from Saavi Services for the Blind that was testing devices designed to help blind and low-vision people follow the game at their fingertips. The tactile tablets, made by Seattle-based startup OneCourt, modeled the layout of the basketball court and vibrated wherever the ball moved or something happened. A free throw, for instance — or a half-court shot.

    When the ball swished through the net, the tablet vibrated. Moon and the group cheered along with the rest of the crowd.
    “That was really cool, actually, because that was just something that wasn’t even a part of the game,” Moon, Saavi’s Phoenix center director, told CNBC. “It was just a part of the fan experience.”
    Enhancing the fan experience for blind and low-vision people is the mission of OneCourt and other accessible tech startups, which in the past few years have partnered with pro sports franchises to bring their technology to fans at live venues.
    Rollouts of these devices are still in the early stages, but they’re gaining steam. The devices are typically available at no cost to visitors, with a limited number available at each game, and they’ve reached organizations like Major League Baseball, the Premier League and the Olympics.

    The technological landscape

    Tactile tablets are one of the most popular categories of live-sports tech for blind people. Broadly, the tablet is like a miniature field: Vibrations throughout the device communicate information such as the location of the ball, scoring attempts and fouls. Buttons and audio can provide details like the score and time left in the game.

    OneCourt has the largest footprint in the U.S. The startup, founded in 2021, broke through in mid-2024 when it partnered with T-Mobile and MLB to distribute its tablets at the All-Star Game.
    After running a pilot program with OneCourt in 2024, the Portland Trail Blazers in January announced they would be the first professional sports team to feature OneCourt devices at all home games through the end of the season. The Sacramento Kings and Phoenix Suns followed suit.
    Jerred Mace, founder and CEO of OneCourt, said the company views itself as the first “tactile broadcaster,” emphasizing the level of detail provided by the tablet’s pixel-like surface. With that mission in mind, he wants to introduce OneCourt into users’ homes in 2026.
    “Our position as a broadcaster, I think it just broadens the view of accessible sports experiences,” Mace said. “No matter where you are, you want to be able to access the game.”
    Other peers use a magnetic cursor on the tablet that moves as the ball does. Touch2see, based in Toulouse, France, has supplied its tactile tablets to Major League Soccer’s St. Louis City SC and the Rugby World Cup, among others.
    Dublin’s Field of Vision, which also uses a magnetic ball, currently leases tablets to rugby and football stadiums in Dublin and Melbourne, Australia.

    Field of Vision’s tactile tablet.
    Courtesy: Field of Vision

    Fine-tuning the experience

    Companies said they’ve gone through many iterations of product design for their devices and that collaboration with blind and low-vision people has been integral.
    Kunal Mehta, OneCourt’s user experience designer, said it’s been challenging yet rewarding to make the tablets accessible to blind people. Working on aspects like tutorial design, Mehta said he prioritizes minimizing the amount of effort required for users.
    “Speaking with users in an environment where they are comfortable to share what they feel like and not necessarily what we want to hear, that’s definitely been an important piece,” Mehta said.
    A key consideration for the tablets is how to make the experience as normal for users as possible. Most of these devices work throughout an arena, for instance, meaning users can sit with friends and family.
    “We want to really open up the social aspect of live sports,” Touch2see sales director John Brimacombe told CNBC.
    David Deneher, Field of Vision’s co-founder, told CNBC that discussions with blind fans led the company to prioritize portability for its tablets.
    Given the fast pace of live sports, companies have emphasized rapid data transmission to the devices. OneCourt connects to the NBA’s real-time game data. Other companies use stadium cameras or install their own to communicate on-field action to users within milliseconds.

    The financial model

    Thus far, device activations in venues have been a mix of sponsorships and paid agreements.
    Live Nation-owned Ticketmaster backed all three NBA deals with OneCourt, drawing from its social impact funding to sponsor five devices each in Portland and Sacramento and 10 devices in Phoenix. The Phoenix Suns/Phoenix Mercury Foundation matched Ticketmaster’s financial contribution.
    Scott Aller, Ticketmaster’s senior client development director for the NBA, told CNBC that the partnership aligns well with the company’s mission.
    “We’ve realized there is a very large coalition of visually impaired fans that have been attending events historically,” Aller said. “Now they have a whole extra element to really feel closer to the game, and that’s ultimately what we dream about every day.”
    Touch2see usually employs a business-to-business model where the team or league foots the bill, Brimacombe said. But it also partners with corporations for certain events.

    Visitors use Touch2see tablets at the Africa Cup of Nations football competition in 2024.
    Courtesy: Touch2see

    What users are saying

    Blind and low-vision people who have tested these devices at games told CNBC that the technologies are promising but have room for improvement.
    Moon and Macaulay Beasley were among several Saavi members to test the devices at the Suns game on March 2. Initially skeptical, Beasley said he was impressed by how he could follow the game with his fingers.
    “It felt like I was watching the game again, because I used to have vision. So I felt more engaged with the crowds and more engaged with the game,” Beasley, an orientation and mobility instructor at Saavi, told CNBC.
    OneCourt’s device offers auto-generated audio commentary, but Moon and Beasley said it would be even better if it connected directly to the radio broadcast that fills in information gaps such as who’s controlling the ball.
    “I would say that the radio provides context, but OneCourt gives it color,” Moon said.
    Mehta said he believes the tablets especially aid users in gaining spatial awareness. He said he never really understood how large a soccer field was, for example, before walking across one during product development.
    Daniele Cassioli, a blind Paralympic water skier, tested Touch2see’s device at a November soccer match between Italian soccer clubs Cagliari Calcio and Hellas Verona. He told CNBC that using the technology helped him better understand “the story of the game,” like the strategies each team was deploying on the field.
    He said he’d love for the device to be more interactive and lightweight. But Cassioli put his suggestions in perspective, highlighting progress in making sports more accessible since he first began waterskiing in the 1990s.
    “Right now, we realize that we can deserve more,” Cassioli said.

    A person using a Touch2see device cheers at a French national football team match.
    Courtesy: Touch2see

    Skepticism and the long-term view

    Some accessibility experts said live-game devices for blind fans risk becoming another highly publicized technology for disabled people that disappoints in practice and eventually descends into obscurity.
    Liz Jackson, a disabled nonacademic scholar and writer, in 2019 coined the term “disability dongle,” which she defines as “a well-intended, elegant yet useless solution to a problem [disabled people] never knew [they] had.” She said buzzy technologies marketed to disabled people often follow a predictable “announcement-to-abandonment cycle” and that above all, she questions how long these devices will be maintained.
    Rua Mae Williams, a disabled assistant professor in user experience design at Purdue University, said tech startups often fail to consider long-term sustainability when developing their products. The tendency of such devices to become obsolete disproportionately harms disabled people, Williams added.
    “When you’re talking about disabled people being the users of your product, you’re often talking about making them reliant on a set of hardware and software for daily functions with the knowledge that you intend to basically disappear within five years. And so if there’s no clear statement of sustainability of how this product will continue to exist no matter what happens to this company, that’s a major red flag,” Williams told CNBC.
    OneCourt’s Mace said the company views its plans to bring the tablets to homes as key to sustaining the business.
    “At the end of the day, OneCourt only exists if we continue to drive value for our fans,” he said. “The technology at home is one avenue through which accessibility can be sustained over time and ultimately broadened.”
    Many of the deals that sports teams have inked with device developers are on a short-term basis. OneCourt’s current NBA agreements only last through the end of this season, though the Kings, Suns and Trail Blazers all told CNBC that they want to continue making the fan experience more accessible.
    There are still major obstacles that blind and low-vision fans confront in order to attend live games. Saavi’s Moon said although he appreciates how OneCourt encourages blind people to participate in sports, he hopes guest services staff receive training to assist visitors, since he often experiences difficulties receiving accommodations and audio equipment at live events.
    The issues go beyond the venues. Beasley said the app for Ticketmaster, the NBA’s official ticketing partner, is inaccessible for blind people, from the login process to seat selection.
    In a statement, a Ticketmaster spokesperson said, “The accessibility of our site and ensuring that fans have equal access to events is of the utmost importance to Ticketmaster. This is a big area of focus for the team, we are constantly reviewing our processes and we take on board all feedback to make improvements wherever we can.”
    Technical difficulties are also inevitable. Some OneCourt devices didn’t connect for users for an entire half of a game.
    Even with the challenges, NBA teams working with OneCourt said they’re always looking to make their home venues more accessible, citing initiatives such as sensory rooms and support for organizations like Saavi.
    “Our fans are really at the center of our universe,” said Matthew Gardner, senior director of customer insights for the Trail Blazers. “They’re the ones who we’re doing this for at the end of the day.”
    Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2036. More

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    Trump’s ongoing 25% auto tariffs expected to cut sales by millions, cost $100 billion

    As President Donald Trump’s 25% tariffs on imported vehicles remain in effect despite a pullback this week on other levies, new analyses detail global implications for the automotive industry.
    Analysts are expecting to see a drop in vehicle sales in the millions, higher new and used vehicle prices, and increased costs of more than $100 billion for the industry,
    Goldman Sachs assumes new vehicle net prices in the U.S. will rise by roughly $2,000 to $4,000 over the next six- to 12-month timeframe to better reflect tariff costs.

    Autoworkers at Nissan’s Smyrna Vehicle Assembly Plant in Tennessee, June 6, 2022. The plant employs more than 7,000 people and produces a variety of vehicles, including the Leaf EV and Rogue crossover.
    Michael Wayland / CNBC

    DETROIT — As President Donald Trump’s 25% tariffs on imported vehicles remain in effect despite a pullback this week on other country-based levies, analysts are expecting massive global implications for the automotive industry due to the policies.
    They’re expecting to see a drop in vehicle sales in the millions, higher new and used vehicle prices, and increased costs of more than $100 billion for the industry, according to research reports from Wall Street and automotive analysts.

    “What we’re seeing now is a structural shift, driven by policy, that’s likely to be long-lasting,” Felix Stellmaszek, Boston Consulting Group’s global lead of automotive and mobility, told CNBC. “This may well be the most consequential year for the auto industry in history – not just because of immediate cost pressures, but because it’s forcing fundamental change in how and where the industry builds.”
    BCG expects tariffs to add $110 billion to $160 billion on an annual run rate basis in costs to the industry, which could impact 20% of U.S. new-vehicle market revenues, increasing production costs for both U.S. and non-U.S. manufacturers.
    The Center for Automotive Research, a Michigan-based nonprofit think tank, believes costs for automakers in the U.S. alone will increase by $107.7 billion. That includes $41.9 billion for Detroit automakers General Motors, Ford Motor and Chrysler parent Stellantis.
    Both analyses take into account the 25% tariffs on imported vehicles implemented by Trump on April 3 as well as forthcoming levies of the same amount on automotive parts that are set to begin by May 3.

    Stock chart icon

    Auto stocks

    Automakers and suppliers may be able to bear some of the cost increases, but they’re also expected to pass them along to U.S. consumers, which could in turn lower sales, according to analysts.

    “We believe the tariffs as proposed will raise the cost of both importing and manufacturing vehicles in the US by at least a low to mid single digit thousand dollar level on average, and we believe it will be hard for the auto industry to fully pass this on, especially with softening consumer demand more generally,” Goldman Sachs analyst Mark Delaney said in a Thursday investor note.
    Goldman Sachs assumes new vehicle net prices in the U.S. will rise by roughly $2,000 to $4,000 over the next six- to 12-month timeframe to better reflect tariff costs.
    Automakers have responded to the tariffs in a variety of ways. Manufacturers that are mostly domestic, such as Ford and Stellantis, have announced temporary deals for employee pricing, while others, such as British carmaker Jaguar Land Rover, have ceased U.S. shipments. Hyundai Motor also has said it would not raise prices for at least two months to ease consumer concerns.
    Consumer sentiment grew even worse than anticipated in April as the expected inflation level hit its highest since 1981, a closely watched University of Michigan survey showed Friday.
    Sam Abuelsamid, vice president of insights at auto advisory firm Telemetry, expects many automakers have at least a roughly two-month supply of non-tariff impacted vehicles that they will be able to sell down before needing to increase prices due to tariffs.
    Telemetry expects the higher costs for production, parts and other factors to result in upward of 2 million fewer vehicles sold annually in the U.S. and Canada, which will have ripple effects on the broader economy.

    “A couple million-unit reduction in sales will have a broad impact economically,” Abuelsamid said. “That’s driven by higher prices, not just for vehicles, but across the board … which is going to limit people’s’ spending power.”
    Affordability of new and used vehicles has been a problem for several years. On average, Cox Automotive reports new vehicles cost nearly $50,000. That figure doesn’t include the cost of financing such a vehicle, which has risen significantly in recent years in an attempt to combat inflation.
    Auto loan rates remain near decades-high levels of more than 9.64% for a new vehicle and nearly 15% for a used car or truck, according to Cox.
    “We expect to see declining discounting and then accelerated price increases as the tariffs are passed through and supply tightens, leading to price increases on all types of most new vehicles,” Cox Automotive Chief Economist Jonathan Smoke said during a virtual event Monday. “Over the longer term, we expect production and sales to fall, newly used prices to increase, and some models to be eliminated.”
    Expected price increases vary based on vehicle, but Cox estimates a $6,000 increase to the cost of imported vehicles due to the 25% tariff on non-U.S. assembled vehicles, as well as a $3,600 increase to vehicles assembled in the U.S. due to upcoming 25% tariffs on automotive parts. Those are in addition to $300 to $500 increases as a result of previously announced tariffs on steel and aluminum. More

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    The Real ID deadline is just weeks away. Here’s what travelers need to know

    The Transportation Security Administration says the Real ID deadline is May 7.
    The Real ID requirements were established after the Sept. 11, 2001, terrorist attacks.
    Enforcement of the new requirements was originally supposed to begin in 2008.

    Homeland Security sign for REAL ID at entrance to passenger TSA security area, West Palm Beach, Florida.
    Lindsey Nicholson | UCG | Universal Images Group | Getty Images

    Travelers take note: The federal government says it will start enforcing Real ID requirements at U.S. airports starting May 7 — for real this time.
    That means travelers will need a Real ID-compliant license or other accepted form of identification like a passport to get through security before a domestic U.S. flight.

    The Transportation Security Administration said 81% of people approaching airport checkpoints already have Real ID-compliant identification, though it varies by state.
    Federal and state officials in recent weeks have urged travelers to make appointments at motor vehicle departments to update licenses and other ID cards before the deadline, though availability has become scarce.
    “Make your appointments now as quick as possible,” John Essig, the Transportation Security Administration’s federal security director for New York City-area airports, said at a news conference at LaGuardia Airport earlier this month. “We certainly don’t want to hold up anyone without Real ID at the checkpoint,” Essig said.
    Signs reminding travelers at U.S. reports to apply for a Real ID have been up for years, though the deadline has been pushed back repeatedly. A TSA officer this week was handing out flyers to travelers with a QR code for Real ID information at LaGuardia Airport.
    Airlines have also been reminding travelers of the new requirements through customer emails and other channels. Frontier Airlines has a gray banner running along its website informing travelers of the Real ID requirements.

    What is a Real ID?

    A Real ID is an identification card, like a driver’s license or state-issued ID, that is compliant with federal rules initiated in the wake of the Sept. 11, 2001, terror attacks. Those hijackers were using state IDs and driver’s licenses, some of which were obtained fraudulently.
    In 2005, Congress passed the Real ID Act, allowing the federal government to set standards for state IDs. It was originally supposed to go into effect in 2008, but has been repeatedly postponed, including during the pandemic.
    The ID cards have a gold or black star, or in California, a yellow bear, on the top right.

    This undated photo provided by the Kansas Department of Revenue shows Kansas’ new driver’s license design meant to comply with federal identification requirements for airport security purposes.
    Kansas Department of Revenue | AP

    “If the card does not have one of these markings, it is not REAL ID-compliant and won’t be accepted as proof of identity in order to board commercial aircraft,” the Department of Homeland Security said.

    Who needs to show it?

    Travelers 18 or over need the ID, or another form of accepted ID, for U.S. domestic flights.

    Can I bring another form of ID?

    Reminders for REAL ID at New York’s LaGuardia Airport.
    Leslie Josephs/CNBC

    If you can’t get a Real ID by May 7, there are options.
    The TSA says you can use a U.S. passport; a permanent resident card, also known as a green card; or a trusted traveler ID, like a Global Entry card, and others.

    Can I use the Real ID to travel internationally?

    No. But you can opt for an “enhanced ID” that is also Real ID compliant, which you can use to travel to Mexico and Canada.

    Is the deadline real?

    The TSA says that the deadline is legitimate and that travelers without a Real ID or other accepted document could experience delays when going through security because it will take longer to verify their identity.
    They could face “additional screening and the possibility of not being permitted into the security checkpoint,” the TSA said in a news release on Friday.
    The agency recommends travelers arrive at least three hours before domestic flights if they don’t have Real ID or an alternative.
    “Identity verification is a lynchpin in security and we will make sure that passengers are verified as being who they say they are before they can go beyond the checkpoint,” said spokesman Carter Langston. More