Honda turns to US-based battery production to avoid tariffs: Japanese car manufacturer Honda will start sourcing batteries for 400k of its hybrid cars sold in the US from Toyota’s US factory starting in FY 2025, Asharq Business reports. Honda has also decided to start producing its next-generation Civic hybrid car in Indiana instead of Mexico to avoid potential tariffs on one of the manufacturer's top-selling models.

ICYMI: US President Donald Trump announced plans for a new wave of tariffs last month that will see the country hit auto, semiconductor, and pharma imports with 25% duties. Trump did not announce a rollout date for the tariffs but said more details will likely be revealed by 2 April.

Trump’s April tariffs could end up being more expansive than thought: Trump aides are reportedly preparing to roll out a tariff regime that would impose tariffs on “goods from most countries that trade with the United States” next month, the Washington Post reports, citing sources familiar with the White House’s internal planning. The new tariffs would hit imports worth multi-tns, with one proposal suggesting grouping the US trading partners into three tariff rate categories — low, medium, or high.

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