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Trump Grants Temporary Auto Tariff Exemption

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In today edition we will talk about
Will Canada Tariffs Raise US Gas Prices? It Depends on Your Location
US Stocks Surge as Trump Grants Temporary Auto Tariff Exemption
Tom Llamas to Succeed Lester Holt as ‘NBC Nightly News’ Anchor This Summer
Will Canada Tariffs Raise US Gas Prices? It Depends on Your Location
New US tariffs on Canadian fuel imports could lead to higher gas prices in some regions, particularly the Northeast and West Coast, though the impact may take time to materialize. While most imports face a 25% tariff, energy products are hit with a 10% tariff, affecting the 1.5 billion barrels of crude oil Canada supplies to the US annually. The Northeast, which relies on Canada’s Irving Oil refinery, may see the biggest price hikes as Irving redirects shipments to avoid tariffs. Meanwhile, Midwest and Rocky Mountain refineries, which prefer Canadian crude, may negotiate price cuts to offset costs. Gas prices remain relatively low at a national average of $3.11 per gallon, potentially softening the blow. However, with OPEC+ increasing oil production and recession fears pushing crude prices down, any increases at the pump may be limited for now.
US Stocks Surge as Trump Grants Temporary Auto Tariff Exemption
US stocks rebounded Wednesday after the Trump administration announced a one-month exemption on auto tariffs for Canada and Mexico, easing investor fears of a worsening trade war. The Dow soared 615 points before settling up 486 points at 43,007, while the S&P 500 and Nasdaq gained 1.12% and 1.46%, respectively. Auto stocks surged, with General Motors rising 7.15%, Stellantis up 9.3%, and Ford gaining 5.8%. This rally follows steep market losses earlier in the week triggered by new tariffs and retaliatory measures from key trading partners. While the exemption offers temporary relief, experts warn of continued market volatility and inflation risks amid escalating trade tensions. Meanwhile, crude oil prices dropped 2.7% over concerns of oversupply and economic uncertainty.
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Tom Llamas to Succeed Lester Holt as ‘NBC Nightly News’ Anchor This Summer
NBC News has announced that Tom Llamas will take over as anchor and managing editor of NBC Nightly News this summer, succeeding Lester Holt, who has led the program for a decade. Llamas, who currently anchors Top Story with Tom Llamas on NBC News NOW, will be the first Latino journalist to host the weeknight edition of Nightly News. He praised Holt as a trusted broadcaster and promised to uphold the show's commitment to truth and excellence. Llamas, who began his career at NBC 25 years ago, rejoined the network in 2021 and quickly rose to prominence. Meanwhile, Holt will continue hosting Dateline NBC. Nightly News remains a top-rated program, consistently reaching millions of viewers.
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