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Detroit automakers say Trump’s UK trade deal unfairly favors foreign cars

A trade group representing Detroit’s big three automakers, Ford, GM, and Stellantis, issued a statement late Thursday criticizing the Trump administration’s fresh trade deal with the UK.

We are disappointed that the administration prioritized the UK ahead of our North American partners, Matt Blunt, president of the American Automotive Policy Council, said. Under this deal, it will now be cheaper to import a UK vehicle with very little US content than a USMCA compliant vehicle from Mexico or Canada that is half American parts.

Under Thursday’s deal, the tariff rate on cars imported from the UK will fall from 27.5% to 10% for up to 100,000 vehicles. According to the Society of Motor Manufacturers and Traders, a UK trade org, that’s just 2,000 fewer vehicles than the US imported from the UK in all of 2024 — essentially lowering the tariff on all UK vehicle imports to 10%.

This hurts American automakers, suppliers, and auto workers, Blunt said. We hope this preferential access for UK vehicles over North American ones does not set a precedent for future negotiations with Asian and European competitors.

Ford recently told investors it expects a $1.5 billion cost from tariffs this year. GM put its anticipated charge at up to $5 billion.

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Used car prices dip in April but remain at 2023 levels as gas prices surge

Used car prices ticked down in April, the first drop in 2026, according to fresh data from Cox Automotive.

Cox’s Manheim Used Vehicle Value Index, which tracks wholesale prices, dipped 1.6% in April from March, but remains around highs not seen since 2023 as shoppers react to surging gas prices.

“Affordability remains front and center, and that’s driving some increased demand for older vehicles... as well as changing the calculus for consumers shopping for EVs,” said Cox’s chief economist, Jeremy Robb.

As reported in March, used car retailers including CarMax have told Sherwood News that gas prices are driving more shoppers to look toward EVs. Cox’s EV index is up 7.2% from April 2025, compared to a 1.1% hike for its non-EV index.

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Xbox CEO overhauls leadership team with Microsoft AI execs amid sales declines

Microsoft is continuing to shake up Xbox, with gaming chief Asha Sharma (who took over the division suddenly in February) announcing an executive overhaul.

According to an internal memo seen by CNBC, Sharma is bringing four leaders from her former CoreAI group into the Xbox fold, as they have “consumer and technical expertise [Xbox does] not yet have.”

“Right now, it is too hard to ship impact quickly. We spend too much time inward instead of with the community, and we lack the depth we need in some of the fundamentals,” Sharma said in the memo.

Aside from the CoreAI team, David Schloss, a former Instacart growth exec, will take over the subscription and cloud business.

Following Microsoft’s earnings report last week, in which Xbox console sales fell 33% from last year, Sharma said the division had work to do. The company forecast more sales declines for Game Pass and consoles in the current quarter.

“Right now, it is too hard to ship impact quickly. We spend too much time inward instead of with the community, and we lack the depth we need in some of the fundamentals,” Sharma said in the memo.

Aside from the CoreAI team, David Schloss, a former Instacart growth exec, will take over the subscription and cloud business.

Following Microsoft’s earnings report last week, in which Xbox console sales fell 33% from last year, Sharma said the division had work to do. The company forecast more sales declines for Game Pass and consoles in the current quarter.

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