A Florida jury ordered Tesla to pay $243 million for the fatal Autopilot Elon Musk's electric vehicle company may face additional legal action after a Florida jury on Friday found Tesla (TSLA.O), opens new tab, liable to pay $243 million to victims of a fatal crash in 2019 involving a Model S equipped with Autopilot. For victims of Autopilot-related accidents, the verdict is an uncommon victory. Based on a more sophisticated version of its driver assistance software, Musk has been pushing for a quick expansion of Tesla's recently launched robotaxi business. Tesla's stock is down 25% so far this year after dropping 1.8% on Friday. According to a verdict sheet, jurors in a federal court in Miami granted the estate of Naibel Benavides Leon and her ex-boyfriend Dillon Angulo $129 million in compensatory damages and $200 million in punitive damages . 33% of the compensatory damages, or $42.6 million, were attributed to Tesla. Although George McGee, ...
The US says Trump has the last say, but the tariff truce between the US and China is in effect for the time being.
Following two days of negotiations in Stockholm to defuse a growing trade war between the two largest economies in the world that is endangering global growth, U.S. and Chinese officials decided Tuesday to seek an extension of their 90-day tariff truce.
President Donald Trump will have to decide whether to extend a trade truce that ends on August 12 or possibly allow tariffs to rise back to triple-digit levels, according to U.S. officials, who did not announce any significant progress.
Trump has negotiated trade agreements with the European Union, Japan, and other countries after months of threatening high tariffs on trading partners. However, these negotiations are complicated by China's dominant economy and control over global rare earth flows.
In May, both parties retracted their plans to impose triple-digit tariffs on one another, which would have effectively created a bilateral trade embargo. But in the absence of an agreement, global supply chains and financial markets may experience fresh unrest.
U.S. Treasury Secretary Scott Bessent told reporters that Trump will have the last say on whether to extend a truce.
U.S. Trade Representative Jamieson Greer added that another 90-day extension is an option.
"We'll update him on the procedure we followed here. We definitely had productive meetings in order to return with a positive report. However, he will decide whether to prolong the pause," Greer stated following discussions at the Swedish prime minister's office in central Stockholm, Rosenbad.
After talks in Geneva and London, Bessent said the agreements on the flow of Chinese rare earths were getting more refined and that the U.S. and Chinese officials would probably meet again in about 90 days.
"Good interpersonal relationships and mutual respect were being developed. "I believe we have a far better understanding of their agenda," he said.
The International Monetary Fund highlighted the stakes by increasing its forecast for global growth on Tuesday but identifying a possible tariff rate rebound as a significant risk.
According to Li Chenggang, China's top trade negotiator, both parties understand how important it is to keep their trade and economic ties stable and sound.
The discussions may lead to a meeting between Trump and Chinese President Xi Jinping later this year, although Trump denied actively seeking one and U.S. officials said the subject was not brought up.
Greer and Bessent emphasized the need for China to transition from a state-led, export-driven manufacturing economy to one driven by increased consumer demand, which would help U.S. exports. The Stockholm meetings also featured a lengthy discussion on the U.S. and Chinese economies.
SOURCE : NEW AGENCIES