Central Texas Global Business Pulse - February 23rd 2025 - Big Plan

Central Texas Global Business Pulse

Big Plan Highlights

The Big Plan team reconnected with Emmanuel Loo, Secretary of Economic Development of Nuevo León, Mexico, and his team last week to further explore collaboration and investment opportunities on behalf of our clients. We appreciate the valuable updates on Monterrey and the introductions to key partners. The efficiency of this government is a testament to why Nuevo León remains the top destination for foreign investment in Mexico.

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News & Updates

International

How Trump’s Tariffs Could Reorder Asia Trade and Exclude the U.S.

As President Trump uses tariffs as a weapon in his quest to even the score on trade with the world, Asia is emerging as target No. 1. And it’s not just because of China.

Asia is home to seven countries that run the biggest trade surpluses with the United States, Mr. Trump’s go-to yardstick. It has some of the biggest exporters of goods that Mr. Trump promised to tax, like Japanese and South Korean cars, Taiwanese chips, and Indian drugs. Many of the region’s countries have become top destinations for Chinese goods and investment, evidence that Mr. Trump cites to accuse China of using a back door into the U.S. market.

EU estimates $29.3 billion hit from Trump's steel, aluminum tariffs

The European Union estimates that the first wave of Donald Trump’s steel and aluminum tariffs will hit as much as €28 billion ($29.3 billion) of the bloc’s exports in what would be a massive escalation in the US president’s trade war.

The amount of goods — which the EU assesses will include derivative products as well — would be about four times larger than the last time Trump targeted the bloc’s metals sector, according to people familiar with the EU’s thinking.

BYD to build the 'world's largest' battery storage projects

Chinese energy giant BYD has just inked a deal to build the largest battery storage projects on the planet for Saudi Arabia. The company will put together facilities at five sites totaling a massive 12.5 GWh of energy storage.

Let's do some quick math to get a sense of how much energy that works out to, in more relatable terms. The average household in the US consumes about 1,000 kWh per month. Now, 1 GWh equals 1 million kilowatt hours. So, BYD's system could theoretically powering approximately 1,042 homes for an entire year with the juice in its batteries.

Rich in cash, Japan automaker Toyota builds a city to test futuristic mobility

Woven City near Mount Fuji is where Japanese automaker Toyota plans to test everyday living with robotics, artificial intelligence and autonomous zero-emissions transportation.

Daisuke Toyoda, an executive in charge of the project from the automaker’s founding family, stressed it’s not “a smart city.”

“We’re making a test course for mobility so that’s a little bit different. We’re not a real estate developer,” he said Saturday during a tour of the facility, where the first phase of construction was completed.

USA

US displaced China as Germany’s biggest single trading partner last year

The United States was Germany’s biggest single trading partner last year for the first time since 2015, displacing China from the top spot as exports to the Asian power declined, official figures showed Wednesday.

Trade between the U.S. and Germany, which has Europe’s biggest economy, ticked up 0.1% compared with 252.8 billion euros ($264.3 billion) in 2023, Germany’s Federal Statistical Office said.

Nikola filed for bankruptcy. Meet the other failed EV startups

Electric vehicle startup Nikola (NKLA) filed for Chapter 11 bankruptcy protection on Feb. 19, completing the former Wall Street darling’s backslide.

At its 2020 peak, Nikola was valued at $27 billion, had signed a multibillion-dollar agreement with General Motors (GM), and had planned to deliver all-electric and fuel-cell electric semi-truck.

Texas

ERCOT meets record demand as temperatures drop below freezing

Questions about the reliability of the Texas power grid still linger four years after a winter storm pummeled the state, leaving millions of Texans without power for days.

This week, as temperatures dropped below freezing for much of the Lone Star State, people worried if the grid would hold up.

Gov. Greg Abbott said in a news conference before the winter weather moved in that he was “100%” confident that the grid could withstand the challenge.

“The fact of the matter is that the power grid has never been stronger than it is now,” Abbott said in the news conference.

As of Friday morning, no major outages have occurred across the state, but memories of frosty nights without heat and light still linger for many Texans.

Deep water oil terminal approved off Texas coast

The Department of Transportation has approved construction of a deep water port off the coast of Brazoria County to export domestically produced oil.

The new port will be approximately 26.6 nautical miles off the coast and be connected to an on-shore site in Freeport Harbor and use dock space at the Port Freeport Public Docks.

Taiwanese Firms Seen Investing Aggressively in Texas

Taiwanese electronics companies are planning more investments in the U.S. state of Texas, with announcements possible in May to coincide with President Donald Trump's first 100 days in office, the head of an industry body said on Tuesday.

Trump, who took office on Jan. 20, has lambasted Taiwan for taking U.S. semiconductor business and has also threatened import tariffs on trading partners with which the United States runs large trade deficits, which could target Taiwan.

Last week, Taiwan President Lai Ching-te pledged more investment in the United States.

KFC shifts US headquarters from Kentucky to Texas

Fried chicken restaurant giant KFC will be moving its US headquarters from Louisville, Kentucky, to Plano, Texas, its parent company said on Tuesday.

The shift comes as part of a plan for parent firm Yum! Brands to have two brand headquarters in the United States, one in Texas and the other in California.

Austin

Report: 'Hundreds' of Austin-area IRS workers may be laid off

Hundreds of people employed by the Internal Revenue Service in Austin are likely to lose their jobs soon, according to U.S. Rep. Lloyd Doggett, D-Texas, as part of the far-reaching ramifications locally of the Trump administration's ongoing drive to cut the federal government.

Doggett, speaking to KXAN News, said Austin is home to one of the few IRS centers in the country and has about 6,000 employees in the metro.

Silicon Labs wins Texas CHIPS Act funds to expand here

Austin-based Silicon Laboratories Inc. has secured funding to expand here.

The fabless semiconductor company said Feb. 19 that it has been awarded a $23 million grant from the Texas Semiconductor Innovation Fund, which is part of the Texas CHIPS Act. The funds will help the company set up a new research and development lab in Austin where it will focus on next-generation IoT wireless tech and semiconductor design.

Museum of Future to participate in Austin’s South by Southwest 2025

Dubai’s Museum of the Future, a beacon of innovation and future foresight, announced its participation in South by Southwest (SXSW), the world’s leading event for technology, innovation, and art, held in Austin, Texas from 7th to 15th March 2025.

Over the course of five days, the museum will showcase Dubai’s forward-looking vision for technology, foresight and culture by hosting 20 activations, panel discussions and interactive experiences.

Opinion Editorial

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Events

How trade operations and supply chain strategy can adapt to President Trump’s policy - EY (Feb 27th, 2025)

SXSW Conference & Festivals (March 7-15, 2025)

U.S. Mexico Supply Chain Summit in El Paso Texas (March 27, 2025)

Global Diversity Export Initiative (GDEI) Trade Mission to India, Singapore, and Hong Kong (March 2-8, 2025)

ERCOT Innovation Summit (May 6th, 2025)

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

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