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Canada Announces Retaliatory Tariffs On US As Trade War Escalates
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Bucket seats

Stellantis to lay off hundreds in US, pause work at plants in Mexico and Canada because of tariffs

The layoffs and production pauses are so far being billed as temporary. Canada also announced retaliatory 25% tariffs on American-made vehicles.

Max Knoblauch

In response to President Trump’s 25% tariffs on imported vehicles, Jeep maker Stellantis on Thursday said it’s laying off 900 US workers across five facilities and temporarily pausing production at two assembly plants in Canada and Mexico.

The Windsor, Canada, plant (which produces the Chrysler Pacifica minivan) will shutter for two weeks — affecting 4,500 Canadian workers. The Toluca, Mexico, plant (which produces the Jeep Compass SUV and the Wagoneer S) will be closed through the end of April, though employees there will reportedly still go to work and be paid.

Likely adding to the pain seen in Stellantis’ share price, Canada on Thursday announced retaliatory 25% tariffs on American-made vehicles. Prime Minister Mark Carney announced the reciprocal levies, which mirror the structure of those issued by Trump. In other words, vehicles compliant with the USMCA are exempt.

This week, Stellantis reported that its US sales fell 12% in the first quarter from the same period last year. That figure runs counter to its Detroit rivals Ford and GM, which have seen sales surge in anticipation of Thursday’s auto tariffs. GM’s Q1 sales rose 17%, while Ford’s March sales rose 19% (its overall Q1 sales fell 1%).

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Max Knoblauch

Uber launches “digital tasks” in the US, paying some drivers to train AI

Beginning later this fall, US Uber drivers will be able to earn money by completing short “digital tasks” like uploading restaurant menus or recording audio samples.

CEO Dara Khosrowshahi teased the new gig income stream back in June at the Bloomberg Tech conference.

At that time, Khosrowshahi said drivers and couriers were “labeling maps, translating language, looking at AI answers, and grading AI answers.” According to Thursday’s announcement, the tasks won’t be so focused on Uber’s business, but instead on connecting workers with “companies that need real people to help improve their technology.”

Per Uber, digital tasks can be done when drivers aren’t on a trip, be it at home or when not driving, and will take only “a few minutes” each.

Uber’s having drivers train its AI while partnering with robotaxi companies that could replace them

Uber’s having drivers train its AI while partnering with robotaxi companies that could replace them

At that time, Khosrowshahi said drivers and couriers were “labeling maps, translating language, looking at AI answers, and grading AI answers.” According to Thursday’s announcement, the tasks won’t be so focused on Uber’s business, but instead on connecting workers with “companies that need real people to help improve their technology.”

Per Uber, digital tasks can be done when drivers aren’t on a trip, be it at home or when not driving, and will take only “a few minutes” each.

Max Knoblauch
10/15/25
United Airlines posts stronger-than-expected profit but weaker sales in its third quarter

United’s full-year profit outlook falls somewhere in between the dual forecasts it issued back in April.

United Airlines Airplanes at Newark Liberty International Airport in Newark, New Jersey
Hyunsoo Rim, David Crowther
HEAD OF MACROS
10/15/25
Pop-Tarts, Doritos, and Uncrustables have joined the protein craze taking over America’s snack aisle

Food giants are catching up with the latest diet obsession.

Pop tarts protein
US-ENTERTAINMENT-ILLUSTRATION-APPLE TV+

Apple TV dropped the “plus” as streamers keep pulling back on originals

After the spray-and-pray approach led to a wave of cancellations, Hollywood is settling into an era of just making fewer shows.

Hyunsoo Rim10/15/25
business
Max Knoblauch

The average price of a new vehicle in the US passed $50,000 for the first time ever in September

The average price of a new vehicle in the US surpassed $50,000 in September, according to Cox Automotive’s Kelley Blue Book.

At $50,080, that’s the highest industry average ever, reflecting the price hikes faced by new car buyers in recent years amid pandemic supply shortages, tariff-induced increases, and the high cost of EV production. The figure marks a 3.6% jump from the same month last year.

“Tariffs have introduced new cost pressure to the business, but the pricing story in September was mostly driven by the healthy mix of EVs and higher-end vehicles pushing the new-vehicle ATP into uncharted territory,” Cox executive analyst Erin Keating said. Passing the $50,000 mark was inevitable, Keating said, especially considering that the country’s bestseller is a Ford truck that “routinely costs north of $65,000.”

Year over year, new vehicle prices rose nearly 6% for GM, while Ford’s climbed 2.5%. Volkswagen new prices were up 12.5%.

As prices climb, so do delinquencies on loans to borrowers with lower credit scores. Recent data from Fitch Ratings shows the portion of subprime US auto loans 60 days or more overdue reached 6.43% in August.

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