CEOs Warn of Price Bumps From Tariffs & Waymo Rolls Out in Austin

Neil and Toby kick off the episode detailing the immediate consequences of new tariffs imposed on goods imported from Canada, Mexico, and China. They highlight how companies like Target and Best Buy are warning consumers about impending price increases on everyday items, particularly groceries and electronics, due to these tariffs. They dive into the potential average cost increase for American households, estimated at over $1,200 per year, as well as the specifics regarding gas prices and the auto industry. Expect to see a substantial hike in the costs of vehicles, partly due to the disruption of supply chains.

The duo transitions into a discussion about the exciting partnership between Uber and Waymo, which is launching driverless car services in Austin, Texas. They emphasize that this roll-out coincides with the South by Southwest Festival, aiming to showcase the capabilities of self-driving taxis. The discussion includes the historical friction between Waymo and Uber, noting their transition from rivals to partners in the quest towards autonomous vehicle integration. Waymo's impressive ride metrics and ambitions for expansion signify a notable advancement in the self-driving car landscape.

The podcast also dives into the implications of comments made by Commerce Secretary Howard Lutnik regarding the recalibration of GDP calculations. Lutnik's proposal to exclude government spending from GDP measurements is debated, along with the criticism he faced from economists warning against political interference in economic statistics. The conversation sheds light on the potential consequences of altering GDP reporting and the concerns regarding the accuracy and integrity of economic data.

In their concluding remarks, Neil and Toby provide a rapid-fire round of headlines covering various topics, including a significant acquisition by BlackRock involving strategic ports in the Panama Canal to mitigate geopolitical tensions, Craft Hines’ venture into the alcohol market, and the inspiring story of James Harrison, a prolific blood donor known for saving countless unborn babies.