Seeking tariff relief: Ford is asking the Trump administration for tariff relief after fires at a key U.S. aluminum supplier disrupted production of its F-150 trucks, driving up costs. The administration has so far declined, leaving automakers to absorb higher expenses from tariffs on imported aluminum, even as supply shortages and rising metal prices continue to squeeze margins. Read more from The Wall Street Journal.
$600M endowment: Corporate foundations’ philanthropic commitments were called into question this past year as tariff-driven uncertainty, rising costs and tax law changes prompted many companies to reconsider their charitable strategies. Nonprofits received a reassuring answer this week, however, from the century-old, Boston-based Liberty Mutual Insurance. The major insurer’s nonprofit Liberty Mutual Foundation announced Wednesday the establishment of a $600 million endowment, a long-term source of funding that leaders promise will bring lasting resources and more responsive grantmaking. The Associated Press has the full story.
Disruption fears ease: Oil prices tumbled below $95 a barrel after the U.S. and Iran agreed to a temporary ceasefire, easing fears of supply disruptions. Iran pledged safe passage through the Strait of Hormuz, a critical global oil route, prompting a sharp market sell-off after weeks of war-driven price spikes. Read more from CNBC.
