Accessory advantage: Ford is expanding its accessories and customization business to tap into the $53 billion U.S. aftermarket industry, adding performance parts, wraps and limited-edition vehicle packages. Its Ford Custom Garage program aims to boost profits through personalized vehicles while keeping customizations covered under warranty and eligible for financing. Ford sees customization as a key profit driver that increases customer loyalty and supports its goal of growing its $15 billion high-margin software and services business by 8% annually through the end of the decade. CNBC has the full story.
Small businesses sue: Two lawsuits from small businesses are challenging President Trump’s new double-digit tariffs on 60 trading partners, arguing the administration misused trade law and failed to justify the measures. The companies claim the tariffs are a replacement for previously blocked global tariffs rather than a targeted effort to combat forced labor. Legal experts say the challenges may face a tougher path, as similar Section 301 tariffs on China previously survived court scrutiny. Fortune has the full story. A subscription may be required.
Record temps: More than 134 million Americans are under heat warnings as a major heat wave threatens record temperatures across the central and southern U.S. The extreme heat is increasing air conditioning use, putting pressure on power grids as energy demand rises and wind power output may decline. Bloomberg has the full story.
