Central Texas Global Business Pulse - April 6th 2025 - Big Plan

Central Texas Global Business Pulse

Big Plan Highlights

UT Energy Week 2025 was an inspiring five-day event, bringing together energy leaders for thought-provoking discussions, collaboration, and innovation. Pictured here: Alexander Girau, CEO and Co-Founder of Group1, a company pioneering potassium-ion battery technology—a sustainable, critical-mineral-free alternative to lithium-ion batteries. Notably, his mentor, Dr. John Goodenough, invented lithium-ion batteries and was awarded the Nobel Prize for this revolutionary breakthrough. "What starts here changes the world."

News & Updates

International

Here are the Basics on Trump's 'Liberation Day' Tariffs

All U.S. imports face a baseline 10% tariff, effective Saturday.

Higher rates will apply to partners judged "bad actors" on trade. For example, Japan faces a 24% duty and the European Union faces a 20% levy, effective Apr. 9.

China will be hit with a new 34% tariff, adding to previous duties, like the 20% tariff Trump imposed over fentanyl.

The tariffs are pegged to amounts Trump says other countries impose on the U.S. Here’s the math.

Hundreds of products will be exempt, including energy products; a variety of minerals; chemicals used in energy and manufacturing; vaccines; and some metals. Here’s a list of the products and countries exempt.

Canada and Mexico won't be hit by reciprocal tariffs. They still face 25% tariffs on many imports, though the White House has excluded goods that comply with the USMCA trade agreement.

Tariffs of 25% on foreign-made autos and parts have already taken effect.

Here is How the World Is Reacting to Trump’s Latest Tariffs (as of April 4, 2025)

Trump advisers say more than 50 countries have reached out for tariff talks with White House

Top administration officials said Sunday that more than 50 countries targeted by President Donald Trump’s new tariffs have reached out to begin negotiations over the sweeping import taxes that have sent financial markets reeling, raised fears of a recession and upended the global trading system.

USA

Powell Says Trump’s Tariffs Raise Risks of Faster Inflation and Slower Growth

Jerome H. Powell, the chair of the Federal Reserve, warned that President Trump’s tariffs risk stoking even higher inflation and slower growth than initially expected, as he struck a more downbeat tone about the outlook, despite the economy so far remaining in a “good place.”

“While uncertainty remains elevated, it is now becoming clear that the tariff increases will be significantly larger than expected,” he said. “The same is likely to be true of the economic effects, which will include higher inflation and slower growth."

Newsom Will Seek Trade Deals That Spare California From Retaliatory Tariffs

Gov. Gavin Newsom of California is trying to get around President Trump’s tariffs to protect trade in a state with the world’s fifth-largest economy, asking his administration on Friday to pursue new international trade deals to exempt California products from any retaliatory tariffs.

Mr. Newsom, a Democrat, called on foreign governments to exclude items made in California from any actions they take in response to the tariffs Mr. Trump announced this week.

Intel and TSMC are reportedly launching a joint chipmaking venture

Semiconductor giants Intel and TSMC are reportedly teaming up.

The two firms are said to have reached a tentative agreement to create a joint venture that will operate Intel’s chipmaking facilities, according to The Information. TSMC will have a 20% stake in the new venture.

Instead of funding its stake with capital, TSMC will share some of its chipmaking practices with Intel employees and train them, added The Information.

US manufacturers face uphill battle to attract, retain skilled workers

Recent research by Deloitte as part of its 2025 Manufacturing Industry Outlook found 1.9 million manufacturing jobs could go unfilled over the next 10 years if talent challenges are not addressed. That's because the manufacturing jobs slated to grow the fastest in the coming years are ones that require a combination of digital, manufacturing and soft skills.

And while there's been recent momentum, with some companies restoring operations and legislation such as the CHIPS Act leading to a surge in the semiconductor industry in the U.S., the national workforce issues remain largely unresolved.

Texas

How Donald Trump's Tariffs Will Impact Texas: 'More Pain Than Most'

Speaking to Newsweek Joshua Blank, who runs the Texas Politics Project at the University of Texas in Austin, said the Lone Star State is likely to "feel more pain than most" U.S. states as a result of Trump administration tariffs because of the important role foreign trade plays in its economy.

According to the Observatory of Economic Complexity, in 2023 Texas exported $486 billion worth of goods to foreign countries, the highest figure of any American state, while importing $384 billion.

San Antonio will be U.S. metro most damaged by Trump's Canada trade war, study finds

While Mexico is typically thought of as the Alamo City's primary trading partner, 48% of the area's exports actually cross over to Canada, an analysis by economists from Canadian Chamber of Commerce shows. Those exports constitute roughly 3.4% of the San Antonio-New Braunfels' total gross domestic product and accounted for $6 billion in 2023. Even though the San Antonio metro is closer to Mexico, large amounts of exports from its automotive, aerospace and petroleum-refining sectors end up in Canada, Andrew DiCapua, the chamber's principal economist told the Current.

Texas is giving out $5B in loans to build natural gas power plants. Some companies say no thanks.

For years, Texas politicians have fretted: What will it take for companies to build more natural gas power plants for the state’s strained power grid?As it turns out, for a growing number of developers, even the Texas government handing out taxpayer-backed loans is not sufficient.

Austin

Austin advances plan for tourism district that could generate $30M

Austin may get $29.7 million to help boost the city's tourism and visitation industry over the next year.

That's how much is expected to be generated by the city's new Tourism Public Improvement District, in which 2% nightly fees will be charged on most hotel rooms.

The City Council on March 27 directed city staff to negotiate and execute a contract with the recently created Austin Tourism Public Improvement District Corporation and Visit Austin to manage the TPID

Austin delegation being formed for first SXSW London

Applications are open for businesses and individuals interested in being part of the Austin delegation for South by Southwest’s inaugural London festival in June.

The Austin delegation, announced by SXSW, Capital Factory, Opportunity Austin and the city's Office of Arts, Culture, Music and Entertainment, will help represent the city and the state of Texas during SXSW London.

Delta adding flights to Mexico from Austin over holiday season

Delta Air Lines will add a new international route from Austin for a two-week period over the Christmas holiday.

Daily flights to San Jose del Cabo, Mexico, will operate between Dec. 20 and Jan. 5, 2026. The new route is in addition to nonstop service to Cancun that will also begin Dec. 20. That route will continue through April 12.

Opinion Editorials

How Investing Will Change if the Dollar No Longer Rules the World

Opportunities

Small-business grants you can apply for in April 2025

Events

Business Insights Luncheon | Purpose through Profit: Doing good by doing well (Wednesday, April 9, 2025).

Infrastructure Summit (April 8, 2025)

ERCOT Innovation Summit (May 6, 2025)

IEEE Energy Conversion Congress & Expo (Oct 19 - 23, 2025)

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