Central Texas Global Business Pulse - July 14th 2025 - Big Plan

Central Texas Global Business Pulse

Big Plan Highlights

Glenn Hamer (CEO, Texas Association of Business), Paige Velasquez Budde (CEO, Zilker Media), and Fang Fang (CEO, Big Plan) want to spotlight expert voices and explore insights across trade, manufacturing, energy, AI, and Texas policy. As Texas continues to lead in innovation and industry, we're inviting thought leaders to join the conversation and help shape what’s next.

Stay tuned—something exciting is on the horizon to bring fresh perspectives to the forefront of Texas’ growth story.

News & Updates

International

Trump announces 30% tariffs on EU and Mexico, starting Aug. 1

Trump revealed the new rates in letters to European Commission President Ursula von der Leyen and Mexico’s President Claudia Sheinbaum, which he posted on his social media site Truth Social.

“Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough,” Trump wrote to Sheinbaum.

Trump said that there will not be tariffs on goods from the EU if the 27-member bloc “or companies within the EU, decide to build or manufacture product[s] within the United States,” he wrote.

He said that if the EU or Mexico retaliates with higher tariffs, “then, whatever the number you choose to raise them by, will be added on to the 30% that we charge.”

World leaders respond to latest Trump tariff threats against the EU and Mexico

European Union leaders are sounding off on the 30% tariffs U.S. President Donald Trump threatened to impose on the trade bloc, with most emphasizing the need for unity, constructive dialogue and their readiness to work toward an agreement by Aug. 1.

“Imposing 30% tariffs on EU exports would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers and patients on both sides of the Atlantic,” Ursula von der Leyen, president of the European Commission, said in a statement.

Dutch Prime Minister Dick Schoof said it’s “concerning and not the way forward” in a post on X. Pedro Sánchez, prime minister of Spain, also took to X, calling the duties “unjustified.” Swedish Prime Minister Ulf Kristersson noted that the EU “is prepared to respond with tough countermeasures if necessary,” while emphasizing that it would be best to avoid such a move.

Under Attack by Trump’s Tariffs, Asian Countries Seek Out Better Friends

Business and political leaders around the world have been roundly baffled by the White House’s imposition of new duties, even as governments shuttled envoys back and forth to Washington offering new purchases and pledges of reform.

“Across the world, tools once used to generate growth are now wielded to pressure, isolate and contain,” Anwar Ibrahim, the prime minister of Malaysia, said at a gathering of Southeast Asian leaders on Wednesday. “As we navigate external pressures, we need to fortify our foundations. Trade among ourselves. Invest more in one another.”

There are already a few signs of such efforts. South Korea’s new president, Lee Jae Myung, sent special envoys to Australia and Germany to discuss defense and trade issues, and plans on dispatching delegations to several others. Brazil and India announced plans to increase their bilateral trade by 70 percent, to $20 billion.

Rubio meets with Chinese foreign minister as U.S. tariffs roil Asia

Secretary of State Marco Rubio met with his Chinese counterpart on the sidelines of a major Asian conference in Malaysia on Friday as President Trump’s tariffs roil U.S. partners in Asia.

Rubio described his conversation with Chinese Foreign Minister Wang Yi as “constructive and pragmatic” and emphasized the importance of keeping channels of communication open.

He also said the “odds are high” that Trump will meet with Chinese President Xi Jinping but did not give a timeframe.

USA

Energy Department to Gut Funding for Solar and Wind Projects

The Energy Department plans to eliminate hundreds of millions of dollars in funding for major renewable and efficiency projects this year, the latest move by the Trump administration to undo efforts to shift the nation away from fossil fuels.

The cuts, which would take money away from projects budgeted for the fiscal year that ends Sept. 30, focus on solar and wind projects, as well as state and local assistance for low-income families, according to an Energy Department document reviewed by The New York Times and Democratic lawmakers in Washington. Critics argue that the moves are illegal because Congress had previously approved the funding for specific projects.

Ford’s Michigan EV battery plant backed by tax credits after political reboot

After months of political back-and-forth, Ford’s $3B battery plant in Marshall, Michigan, is officially back on track to receive critical federal tax incentives despite ties to Chinese tech.

It was almost dead in the water. Ford’s massive $3 billion EV battery facility in Marshall, Michigan, meant to power the next generation of affordable electric vehicles, got caught in a political minefield over foreign tech partnerships. But now, thanks to revised language in the latest spending bill, the automaker’s factory is back in Washington’s good graces and eligible for billions in production tax credits.

Falling EV sales prompts Panasonic to delay production at its $4 billion Kansas battery plant, the one Oklahoma lost

Just as Panasonic prepares to hold a grand opening Monday on the $4 billion battery plant built outside of Kansas City, Kansas, the company has decided to delay full production because of falling electric car sales.

Plus, there is the factor of U.S. government policies that do not support EVs. Word of the delay in production was reported by the Nikkei Asia news outlet. According to Nikkei, the plant was expected to reach full production by March 2027. But a new target date has not been confirmed.

Texas

Texas one of the best places to do business in US, new ranking says

The Lone Star State is one of the best places to do business in the country, according to a new ranking, but it didn't take home the gold.

CNBC published its rankings for the best states for businesses on July 10, and it put Texas at No. 2 behind North Carolina. Texas ranked No. 3 last year behind North Carolina and Virginia.

Texas project to build four nuclear plants is in talks with 'hyperscalers'

Fermi, a Texas company looking to build four nuclear plants next to a U.S. nuclear weapons complex, said in documents revealed on Tuesday that it is talking with large data managers on leasing agreements for the project.

Fermi, co-founded by Rick Perry, a former U.S. energy secretary, wants to build four AP1000 reactors at a facility it is calling a "hypergrid." The up to 11 gigawatt (GW) facility in Amarillo powered by nuclear, natural gas, and renewable energy, is planned near the Department of Energy's Pantex nuclear weapons plant and in partnership with Texas Tech University.

Renewable Energy Project Cancellations Spike in Texas

Renewable energy and battery storage companies are canceling their Texas projects at rates not seen since the height of the COVID-19 lockdowns. In the last two months, four gigawatts of battery storage systems, 3.5 gigawatts of solar farms, and nearly two gigawatts of natural gas power plants have been canceled, according to a recent analysis of Electric Reliability Council of Texas (ERCOT) data. Battery storage projects are especially vulnerable to cancellation because nearly all battery cells used in those systems come from China, which is being heavily tariffed. The cancellations are occurring despite Texas expecting to see an unprecedented increase in electricity demand as data centers and other large electricity users move into the state. According to ERCOT, the organization operating the power grid that serves 90% of electricity demand across Texas, its electricity demand could surge 70% by 2031.

Austin

Hyundai E&C begins construction of major solar power plant in Texas, accelerates entry into U.S. energy market

Hyundai Engineering & Construction (Hyundai E&C) announced on July 10 that it has officially commenced construction on a large-scale solar power project in Texas, marking a significant step in its entry into the U.S. renewable energy market.

The 750 billion (approx. USD 540 million) project involves building and operating a 350 MWac solar power plant in Concho County, northwest of Austin, Texas. The facility will span approximately 11.74 million square meters—equivalent to more than 1,650 soccer fields.

Tesla, Samsung discussing supplier deal for new Taylor chip factory, sources say

Samsung Electronics Co. Ltd.'s search for customers to serve out of its new Taylor factory has led it to a local business titan — Tesla Inc.

The companies, which are behind two of the largest economic development projects in the region's history, have been discussing for months a deal that would provide the electric vehicle manufacturer with Samsung chips made at the Taylor factory, several sources told the Austin Business Journal.

A deal between the two has not yet been reached, sources said, and it's possible a deal may never come to fruition.

AI shakeup rocks Austin-based tech giant Indeed with 1,300 jobs axed

Austin-based hiring giant Indeed is laying off roughly 1,300 employees, including staff at its sister company Glassdoor, as part of a major reorganization focused on artificial intelligence.

The companies, both owned by Japanese tech conglomerate Recruit Holdings, will consolidate operations to streamline hiring tools and accelerate product development.

"AI is changing the world, and we must adapt by ensuring our product delivers truly great experiences," Indeed CEO Hisayuki Idekoba wrote in an email to employees. "Delivering on this ambition requires us to move faster, try new things, and fix what's broken.”

Intel lays off over 100 Austin workers amid global workforce reduction

Technology and semiconductor chip manufacturing company Intel is reducing its workforce in Texas, according to a notice sent to the Texas Workforce Commission on Wednesday, July 9.

The company alerted the Texas Workforce Commission on Wednesday and confirmed it would be laying off 110 people in Austin on July 15, per the notice. It comes amid a large-scale global workforce reduction, with an estimated 15% to 20% of its employees poised to be laid off this summer, according to June 16 reporting from the Oregonian. The latest round of layoffs comes less than a year after Intel laid off 251 Austin-based employees in the fall, and after company leaders announced last summer plans to let go of 15,000 workers.

Events

Women in Business Awards 2025 (August 22, 2025)

Bastrop County Growth Summit 2025 (September 23, 2025)

Austin-San Antonio Growth Summit 2025 (October 8, 2025)

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

Williamson County Growth Summit 2025 (December 18, 2025)

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