AstraZeneca to speculate $2.5 billion in Beijing hub

AstraZeneca on Friday said that it will invest $2.5 billion in a research and development center in Chinese capital Beijing, months after the British pharmaceutical giant faced local regulators’ scrutiny over its import duties.

The new hub is expected to take AstraZeneca’s Beijing workforce to around 1,700 employees.

The investment in Beijing comes as part of a partnership with the city’s Municipal Government and the Beijing Economic-Technological Development Area Administrative Office, AstraZeneca said.

Under the deal, AstraZeneca will enter research and development collaborations with biotech firms Harbour BioMed and Syneron Bio and will launch a joint venture with BioKangtai to develop, produce, and market vaccines for respiratory and other infectious diseases.

The partnership with BioKangtai will see the company open its first vaccine manufacturing facility in China.

AstraZeneca’s Beijing research hub will be the second of its kind in China, as the company already has a research and development center in Shanghai. The Beijing center “will partner with the cutting-edge biology and AI science in Beijing and be a critical part of our global efforts to bring innovative medicines to patients worldwide,” CEO Pascal Soriot said in a statement.

Shares of AstraZeneca were down by around 0.9% at 12:28 a.m. in London.

Speaking to CNBC’s Julianna Tatelbaum on Friday, Soriot said that China was a “fundamental part of innovation in the future,” but stressed his company’s ongoing devotion to its U.S. footprint.

“We are very committed to the United States, we have two very large research and development centers in the U.S.,” he said.

European companies are under pressure to take steps to shield themselves from White House tariffs under the second administration of Donald Trump, who seeks to reduce the U.S.’ trade deficits with commercial partners and encourage international production Stateside.

Chinese probe

Last month, AstraZeneca said it could face a fine from Chinese authorities of up to $4.5 million, in relation to $900,000 million of unpaid import duties.

The company said investigations into these allegations were underway in China in its full-year earnings report out in February.

“To the best of AstraZeneca’s knowledge, the importation taxes referred to in the Appraisal Opinion relate to [cancer medications] Imfinzi and Imjudo,” the company said at the time. “A fine of between one and five times the amount of unpaid importation taxes may also be levied if AstraZeneca is found liable. AstraZeneca continues to fully cooperate with the Chinese authorities.

In a Friday interview with CNBC, Soriot said his company’s investment in China was “not connected at all” to ongoing investigations into business activities there.

“We have been committed to investing in China for a long time. In the last couple of years, we’ve invested $10 billion in more than 10 R&D partnerships with local biotech companies,” he said.

“Companies like ours, the size of our company, means that we will face headwinds from time to time, and challenges and issues, and of course we regret having to go through a challenging period like this, but it is not related at all to our investment in Beijing, the two are totally separate. This project started in our minds much earlier than the recent challenges we are facing.”

Zepbound copycats stay on-line regardless of FDA ban

This week was supposed to mark the end of compounding pharmacies making copycat versions of Eli Lilly‘s weight-loss drug Zepbound and its diabetes drug Mounjaro. Online, it doesn’t look like much has changed. 

Popular websites like Amble, EllieMD, Willow and Mochi Health are all still advertising versions of tirzepatide, the active ingredient in Zepbound. Some, like Ivim, have stopped taking new patients.

Mochi Health has no plans to stop, and neither do the four pharmacies it uses to supply patients with the medications, said Mochi CEO Myra Ahmad. The company uses a network of about 500 providers to write prescriptions for weight-loss drugs, including compounded versions. It’s betting that offering personalized versions of the drugs will keep the company out of the crosshairs. 

“It can be different dosing schedules … some patients prefer to go up in dosage much more slowly,” Ahmad said. “Some patients like to mix a number of other medications into their compounded formulations, depending on the side effects that they’re having. Some patients have side effects with any additives and brand name formulations. Compounding really opens up the door for so much personalization.” 

Amble, EllieMD and Willow didn’t respond to CNBC’s request for comment. 

Compounding is where pharmacies mix ingredients of a drug to create a specialized version for specific patients. Say someone is allergic to a dye in a branded medication or needs a liquid form and the main manufacturer only sells capsules. In that case, the patient can turn to a compounded version.

When drugs are in shortage, they can be compounded in larger quantities to help fill the gap. 

Copycat versions of Lilly’s Mounjaro and Zepbound and Novo Nordisk‘s Wegovy and Ozempic have been widely available in recent years because the U.S. Food and Drug Administration listed the brand versions as being in short supply. 

That created a booming business for pharmacies compounding the highly popular class of weight loss and diabetes medications called GLP-1s.

But late last year, the FDA said all doses of Mounjaro and Zepbound were readily available and took the drug off its shortage list, spelling the end for mass compounding of the drug. After months of legal challenges, the FDA gave smaller pharmacies until early March to stop and larger pharmacies until this week before it started enforcing its rules.

The larger facilities aren’t allowed to compound tirzepatide at all anymore. Smaller ones aren’t supposed to make products that are essentially copies of a commercially available drug, a moniker with some wiggle room. The FDA sees essential copies as those that have a dosage within 10% of the commercially available drug or combine two or more commercially available drugs.

Mochi insists all of its prescriptions are personalized, including doses that differ from the standard Zepbound strengths. Other websites like EllieMD are advertising tirzepatide mixed with vitamin B12. 

Scott Brunner, CEO of the Alliance for Pharmacy Compounding, said formulations or dosage strengths that aren’t commercially available aren’t considered a copy. However, combining two drugs into one — like adding vitamin B6 or B12 — would be considered a copy under a strict reading of FDA guidance. But tweaking the dosage and adding in other commercially available drugs wouldn’t be considered an essential copy, he added.

“FDA guidance are pretty clear about what is and is not a copy,” Brunner said. “And I would say any compounding pharmacy or outsourcing facility that continues to prepare copies of tirzepatide injection after today are putting themselves in a certain amount of legal risks.” 

John Herr, pharmacist and owner of Town & Country Compounding Pharmacy, stopped compounding tirzepatide earlier this month. He didn’t want to take the risk even though his 300 to 400 patients on it have been calling nonstop to complain about losing access.

Town & Country, based in Ramsey, New Jersey, was charging patients about $200 a month — about one-fifth the list price for Zepbound and less than half the price Lilly charges self-paying patients. 

What happens next is an open question. Enforcing the ban on mass compounding of tirzepatide mostly falls to the FDA. The agency didn’t immediately respond to CNBC’s request for comment.

Lilly can try to sue companies that continue, but it hasn’t had much luck in the past. A Florida judge last year dismissed one of Lilly’s cases, saying the company was trying to enforce a law that only the FDA can. 

Ahmad, the CEO of Mochi, said she isn’t worried about Lilly taking legal action against her providers. The way she sees it, they have established patient-physician relationships with the autonomy to decide how best to manage their patients.

The next two months will be informative. Mass compounding of semaglutide — the active ingredient in Novo Nordisk’s Ozempic and Wegovy — needs to stop by the end of May, according to the FDA.

Hims & Hers Health has already said it will stop selling commercially available doses of semaglutide when the time comes. Customers who have a personalized dosing regimen will be able to continue without any change, the company added. 

— CNBC’s Leanne Miller contributed to this report

Clarification: This story has been updated to clarify Scott Brunner’s comments.

Trump says ‘there will be flexibility’ on reciprocal tariffs

President Donald Trump on Friday said there will be “flexibility” on his reciprocal tariff plan, even as he seemed to oppose the idea of making exceptions for the forthcoming duties.

“People are coming to me and talking about tariffs, and a lot of people are asking me if they could have exceptions,” Trump told reporters in the Oval Office.

“And once you do that for one, you have to do that for all,” he said.

Trump, an avowed fan of tariffs, also insisted that he did not change his mind when he gave top automakers a one-month exemption on a prior round of import duties in early March.

“I don’t change. But the word flexibility is an important word,” he said. “Sometimes it’s flexibility. So there’ll be flexibility, but basically it’s reciprocal.”

Trump has hyped the April 2 start date for his reciprocal tariffs as America’s “liberation day.”

Trump and his officials say the plan will effectively assign tariff rates to all countries that have their own tariffs on U.S. goods. Countries with other non-tariff trade policies that the Trump administration opposes, such as value-added taxes, could also be subject to new duties.

Trump also said Friday that he plans to speak with Chinese President Xi Jinping. Beijing has already slapped retaliatory tariffs on U.S. agricultural products in response to Trump’s broad tariffs on Chinese imports.

Trump has issued a flurry of tariff announcements since retaking the White House, fanning investor uncertainty and fears of a major trade war.

Elon Musk obtained summons in SEC go well with over Twitter disclosure

Tesla CEO Elon Musk looks on as US President Donald Trump speaks to the press as they stand next to a Tesla vehicle on the South Portico of the White House on March 11, 2025 in Washington, DC. 

Mandel Ngan | AFP | Getty Images

Elon Musk received a court summons last week in connection with the SEC’s lawsuit over his alleged failure to properly disclose purchases of Twitter stock in 2022 before bidding to buy the company, according to a filing on Thursday.

A process server delivered the civil summons to Musk on March 14, at the headquarters of SpaceX in Brownsville, Texas, the filing said. The server noted that upon his arrival at the SpaceX facility, three different security guards refused to accept the documents, and one told him he was trespassing. He “placed the documents on the ground,” and left while the guards photographed him and his car.

The summons pertains to a case concerning Musk’s eventual purchase of Twitter, now known as X, for $44 billion in 2022. Prior to the acquisition, Musk built up a position in the company of greater than 5%, which would’ve required disclosing his holdings to the public within 10 calendar days of reaching that threshold.

According to the SEC’s civil complaint, filed in U.S. District Court in Washington, D.C., in January, Musk was more than 10 days late in reporting that material information, “allowing him to underpay by at least $150 million for shares he purchased after his financial beneficial ownership report was due.”

Once he took over Twitter, Musk used the platform to promote then-candidate and now President Donald Trump, and other Republican candidates and causes. Musk, who’s also CEO of Tesla, spent some $290 million to help propel Trump back to the White House and now serves within the administration as a top advisor to the president.

An answer from Musk, or his attorneys, is due on April 4. Musk has the option to dismiss by that date.

The SEC, Elon Musk, and Quinn Emanuel Partner Alex Spiro, his lawyer, didn’t immediately respond to requests for comment.

Trump’s White House has directed deep cuts in the budget and staff of independent federal regulatory agencies, including the SEC. The regulator offered $50,000 to many of its employees, encouraging them to resign or retire by March 21.

The Trump administration has also reversed a 15-year-old policy that allowed the SEC’s director of enforcement to issue formal orders of investigation. The agency will now require requests for formal orders of investigation to be pitched to and approved by a vote of SEC commissioners, a change likely to slow down probes like the one that led to the SEC’s suit against Musk.

Musk previously settled civil securities fraud charges brought by the SEC at Tesla, his autos business. In that matter, Musk and Tesla each had to pay $20 million in fines, and Musk had to temporarily relinquish his role as chairman of the Tesla board.

WATCH: Ron Baron on Elon Musk

Kendall Jenner Reacts to Khloe Kardashian’s “Chilly” Lamar Odom Reunion

But for Khloe, the reason why she had her guard up around Lamar was because she already “dealt with so much trauma in this relationship.”

“For years, this was such the love of my life that to learn how to unlove someone, to have to go through all that, it’s almost like a death,” the 40-year-old explained during The Kardashians’ season six premiere. “Him calling me his wife, words are empty.”

Besides, Khloe noted, “I don’t know this person anymore.”

“This is so familiar and so unchartered all at the same time,” she continued. “It’s just a mindf–k.”

New episodes of The Kardashians air every Thursday.

For a complete guide on the love lives of The Kardashians stars, keep reading…

Wegovy is linked to an elevated danger of hair loss, research suggests

The “Wegovy” brand slimming syringe is sold in the Achat pharmacy in Mitte. The “Wegovy” slimming syringe has been available in Germany for a year.

Jens Kalaene | Picture Alliance | Getty Images

A version of this article first appeared in CNBC’s Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions.

Yet another study is zeroing in on the unintended side effects of Novo Nordisk‘s semaglutide – the active ingredient in the company’s blockbuster weight loss drug Wegovy and diabetes treatment Ozempic. 

But this time, the study highlights the risk of hair loss. 

To be clear, semaglutide’s link to hair loss isn’t new. Clinical trials conducted by Novo Nordisk have shown a higher risk of hair loss in patients who took semaglutide compared to those who took a placebo. 

Wegovy and Ozempic are part of a class of popular medications called GLP-1s, which mimic a hormone in the gut to suppress appetite and regulate blood sugar. Those drugs are known for their gastrointestinal side effects such as nausea and vomiting, and have also faced increased scrutiny after some patients reported experiencing stomach paralysis and suicidal ideation while taking them. 

In a statement, Novo Nordisk said it “remains confident in the benefit-risk profile of our GLP-1 medicines, when used consistent with their indications and product labeling.”

The new study, conducted by researchers at the University of British Columbia and not yet submitted for peer review, shows that semaglutide is associated with hair loss compared to users of an older weight loss pill called Contrave, or bupropion-naltrexone. 

The researchers examined data from 16 million patients from 2006 to 2020 and identified 1,926 semaglutide users and 1,348 Contrave users. People with a diagnosis of diabetes or who used antihyperglycemics – medications that lower blood sugar levels – were excluded. 

The incidence rates of hair loss were higher among semaglutide users than Contrave users. Overall, patients who took semaglutide had a 52% higher risk of hair loss compared to those who took Contrave. 

The researchers also found that women who took semaglutide had more than two times the risk of hair loss compared to women in the Contrave group. But Dr. Mohit Sodhi, one of the authors and emergency resident physician, told CNBC that “most of our data was driven by women” so they cannot compare men versus women in the study. 

Among those who took semaglutide, there were 22 cases of hair loss in women and just one case in men. Future studies with larger sample sizes of patients are needed to determine if there is a difference between men and women, Sodhi noted. 

The researchers also did not follow patients if they stopped semaglutide or Contrave, so it is unclear whether the risk of hair loss decreases once they are off Novo Nordisk’s drug, according to Sodhi. More research is required in that area, he said. 

So, why might semaglutide cause a higher risk of hair loss? 

One factor could be the physiological stress that rapid weight loss can induce, which can lead to the “disruption of the natural hair cycle,” according to Sodhi. He said that may be a more prominent effect of semaglutide because it is known to decrease weight more rapidly than Contrave. 

Semaglutide’s ability to suppress appetite also leads to patients consuming less food, which can potentially cause nutrient deficiencies, including protein in particular, Sodhi added. Protein deficiencies have been shown to be linked to hair loss, he noted. 

Sodhi said patients may also lose nutrients through vomiting when on semaglutide. Some health experts also hypothesize that semaglutide can lead to hormonal shifts that increase the risk of a common form of hair loss called androgenic alopecia, he added. 

People, and women in particular, considering using semaglutide strictly for weight loss may want to “factor in hair loss as a possible limitation” of the drug, the researchers said in the study. But people with diabetes or morbid obesity may weigh their risks and benefits differently, and may be more willing to accept hair loss as a potential risk, the researchers added. 

One of the study authors, Dr. Mahyar Etminan, has previously consulted on litigation related to Ozempic. 

Feel free to send any tips, suggestions, story ideas and data to Annika at annikakim.constantino@nbcuni.com.

Latest in health-care tech: Dexcom receives warning letter from FDA, appoints new board member

The Dexcom logo is seen on a smartphone screen and in the background.

Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images

Dexcom received a warning letter from the U.S. Food and Drug Administration last week after the agency inspected the company’s manufacturing facilities in San Diego, California, and Mesa, Arizona.

The FDA “observed non-conformities” with Dexcom’s quality management system and manufacturing processes, according to a Friday company filing with the U.S. Securities and Exchange Commission. The agency also noted that the company’s response to its list of observations, formally known as Form 483, was insufficient. 

“The Company takes the matters identified in the warning letter seriously, has already submitted several responses to the Form 483 and is in the process of preparing a written response to the warning letter,” Dexcom said in the filing. 

It was unclear what specific problems the FDA identified at the facilities. 

Dexcom produces devices called continuous glucose monitors that can help users track their blood sugar and manage diabetes. The FDA’s warning letter does not limit Dexcom’s ability to manufacture or distribute its products.

The company told CNBC it has been “regularly updating” the FDA about improvements since the agency carried out the inspections last year. Some of its observations have already been sufficiently addressed, and the warning letter detailed “specific areas for continued focus,” Dexcom said.

“Dexcom stands behind the quality of our products and are committed to resolving any outstanding questions from the FDA as soon as possible,” the company said in a statement.

Dexcom also appointed Renée Galá, chief operating officer of Jazz Pharmaceuticals, to its board of directors last week. Galá has worked in her current role since 2023, and she previously served as the chief financial officer at Jazz.

She has also held leadership roles at Grail and Theravance Biopharma, and she spent several years at the pharmaceutical giant Eli Lilly. 

“Renée’s extensive experience guiding global finance and global operations including commercial and R&D to drive growth and create shareholder value provides an excellent fit at this key point in Dexcom’s journey,” Dexcom CEO Kevin Sayer said in a release. 

As of intraday trading on Tuesday morning, shares of Dexcom are down about 9% year to date. 

Read the full release here.

Feel free to send any tips, suggestions, story ideas and data to Ashley at ashley.capoot@nbcuni.com.

Prime Democrats Demand Investigation Into DeJoy’s Secret Deal With Musk To Intestine USPS

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House Democrats who oversee the USPS are concerned that the Trump administration is maneuvering to get around the law and gut the United Postal Service.

In a letter to House Oversight Committee chair James Comer (R-KY), twenty House Democrats led by Oversight Committee ranking member Gerry Connolly (D-VA) wrote:

We write to request that you convene an immediate hearing on the Trump Administration’s plans for the United States Postal Service (USPS). Since the Committee’s most recent hearing on the USPS, the Trump Administration has reportedly explored privatizing the USPS, firing the bipartisan Postal Board of Governors, merging the USPS into the Department of Commerce, and is now subjecting the USPS, America’s most trusted federal institution, to the chainsaw approach of Elon Musk and the Department of Government Efficiency (DOGE). This broad assault on the independence of the USPS demands Congressional oversight, especially from the Committee with jurisdiction over the USPS.

On December 14, 2024, the Washington Post reported that President Trump was considering actions to privatize the USPS and push thousands of federal service employees out of their jobs in favor of a broad privatization of the agency’s essential services. Two months later, further reporting noted that President Trump was preparing plans to fire the bipartisan Postal Board of Governors and “merge” the Postal Service into the Commerce Department, “potentially throwing the 250-year-old mail provider and trillions of dollars of e-commerce transactions into turmoil.”

On March 13, 2025, you received a letter from Postmaster General Louis DeJoy acknowledging an agreement he signed with “DOGE representatives” and the General Services Administration to assist the USPS in “identifying and achieving further efficiencies.” This agreement apparently includes plans for a “further reduction of another 10,000 people in the next 30 days” and a “reduction in air transportation, ground transportation, terminal handling. facilities” through “operating contract terminations, and lease cancellations.” These are, of course, the principal means through which critical mail services such as medication, bills, ballots, parcels, and letters are delivered across the nation to serve the public.

The agreement also signals the Postmaster General’s interest in gutting the Congressionally-authorized Postal Regulatory Commission, potentially allowing rates, rulemaking, and other actions to favor certain industries, individuals, and regions at the expense of the network’s operational needs and universal service obligation. This back-room agreement between the billionaire-led DOGE and Postmaster DeJoy sets off alarm bells about this Administration’s plans for the Postal Service’s role as a cornerstone public institution.

The Postal Service facilitates the delivery of more than 115 billion pieces of mail each year, a significant portion of which is delivered to rural, low-income, and hard-to reach areas that would not otherwise receive service if not for the universal service obligation, which has received bipartisan support in Congress and is integral to the mission of Postal Service.

The Democrats are seeking an immediate hearing and copies of all agreements that DeJoy signed with DOGE and Musk.

It doesn’t take a rocket scientist or a rich guy who funds rockets that tend to explode to understand what is happening. Trump and Musk are trying to gut the Postal Service with a backroom deal that gets around the law and oversight.

Changes to USPS can only be made by Congress, not the president or his billionaire backer who bought his way into the White House.

Since Trump and his billionaire oligarchs prefer to operate in secret, it is up to members of Congress to alert the public to what is going on because public pressure has been effective in getting Trump to back off.

What do you think about Musk and DeJoy’s backroom deal? Share your opinion in the comments below.

Leave a comment

Trump’s Canadian tariffs are having a chilling impact on Vermont’s small enterprise homeowners

Ryan Christiansen, president and head distiller at Caledonia Spirits, giving a tour in Montpelier, VT.

Courtesy: Ryan Christianse | Caledonia Spirits

President Donald Trump’s tariff rhetoric against Canada has only started to heat up, but Vermont’s small businesses are already feeling some pain.

A shipment of spirits, ordered by the Société des alcools du Québec – an entity that’s responsible for the trade of alcoholic beverages in the province – has been sitting on a shipping dock at Montpelier-based Barr Hill by Caledonia Spirits for about a month.

The SAQ called off the order shortly after Trump announced the tariffs against Canada in February, according to Ryan Christiansen, president and head distiller at Caledonia Spirits.

“Customers are ready to buy, and we are in the peak of slow season – it’s an annual cycle for us, and we were looking forward to shipping the order. Now, it’s sitting on the dock,” he said. “To have this hit our business in the slow month of February? We missed our financial plan in February because of this.”

Exports at Caledonia Spirits in Montpelier, VT.

Courtesy: Ryan Christiansen | Caledonia Spirits

Vermont has a special relationship with Canada, as the Green Mountain State exports $680 million in goods to the U.S.’s northern neighbor annually, according to data compiled by Connect2Canada. Vermont imports more than $2.6 billion in goods from Canada each year, with electricity and fuel oil among the top imported goods.

Because of the state’s close business ties to Canada and their shared borders, small businesses in Vermont began seeing some fallout as early as February – when Trump first announced a round of 25% tariffs on goods from Mexico and Canada, triggering 25% retaliatory levies from then-Canadian Prime Minister Justin Trudeau. At the time, Ontario also said it would pull American alcohol products from its shelves.

Ultimately, Trump granted a reprieve on Canadian and Mexican goods covered by the North American trade agreement USMCA until April 2. However, many products are still subject to the duties.

“We worked really hard to maintain this relationship with the Canadian government,” Christiansen said. “How do I get them to buy as much as the Canadian customer wanted to buy? Even if the tariffs go away, I think it’s overly optimistic that this order gets resubmitted.”

Tourism worries

It didn’t take long for Steve Wright, president and general manager of Jay Peak Resort, which is about 10 miles from the Canadian border, to begin seeing the impact of the rhetoric around tariffs.

He noted that spending from Canadian tourists showed signs of softening particularly in two key weeks: Quebec break week, which ran from March 3 to March 8, and Ontario break week, which kicked off on March 10.

Though Canadian visitors generally account for about half of the resort’s market, they make up virtually all of it during that two-week stretch, Wright said.

Zoom In IconArrows pointing outwards

People ski at Jay Peak in Jay, VT.

Courtesy: Patrick Coyle, Darla Mercado | CNBC

“The Quebec break week sold really well, and we had great conditions, but what was missing was the day market,” he said. “We did not get the day traffic we usually see from Montreal, that part of the market softened up.”

Tariff rhetoric has only been the latest pressure point for Jay Peak. The resort’s manager also pointed to the reduction in hours of operation for the nearby North Troy, VT border crossing. It went from 24 hours a day to 8 a.m. to 8 p.m. in January.

To accommodate its Canadian clientele over the past two decades, Jay Peak has been offering at-par options for these tourists on non-margin products. “Say a lift ticket is $100, you can give us C$100,” Wright said. “That has insulated the business a little bit.”

“They have an affinity for Jay Peak; they have been coming here for a generation, but there is a point where they will decide to stay home despite their love of the place,” he added.

In Montpelier, which is a roughly two-to-three-hour drive from Montreal, worries about tourist traffic are already bubbling among small businesses. This corner of the state tends to see weekend visitors from up north, particularly in the temperate summer and fall seasons.

Bill Butler, a co-owner of Artisans Hand Craft Gallery, has been in talks with fellow entrepreneurs in downtown Montpelier to propose promotional deals for Canadian visitors to keep the foot traffic coming.

“My idea is to have something like ‘Canada Days,'” he said. “We’d have a deal for Canadians who want to come down, have a little tour of the city and go from place to place, and get a free beer or coffee.”

“I would rather take the position of being proactive and not just thinking about absorbing the problem,” Butler said. “We have a great relationship with Canada, and we see a lot of Canadians in the gallery.”

The price of imported goods

For Sam Guy, owner of Guy’s Farm & Yard in Morrisville, tariffs are raising concerns over higher prices for certain products.

Wood shavings, wood pellets and peat moss sold at the local chain store all come from Canada, while animal feed – though made by an American company – includes ingredients that come from Canada, he said.

A 25% tariff tacked onto imported products would inevitably have to be passed on to shoppers.

“We can’t eat this,” Guy said. “We’re going to pass on the tariff. We’re not going to add a margin or anything like that, but a lot of these are low margin products.”

Elon Musk’s SpaceX, Tesla foyer on Trump tariffs

Tesla CEO Elon Musk watches as President Donald Trump talks to the media, outside the White House in Washington, D.C., March 11, 2025.

Kevin Lamarque | Reuters

Two companies led by billionaire DOGE chief Elon Musk — SpaceX and Tesla — have submitted letters lobbying the U.S. trade representative on Trump administration tariff policies.

But the two companies had different messages for U.S. Trade Representative Jamieson Greer.

The electric vehicle maker Tesla warned of the negative effect on its bottom line from tariffs and from duties imposed by other countries on U.S.-made products in retaliation for those tariffs.

SpaceX complained that operating costs for its Starlink internet satellite service are increased by trade barriers abroad, while foreign competitors face no such costs in the United States.

The letters come as Musk oversees the so-called Department of Government Efficiency, an effort to slash federal government spending and employee head count at the behest of President Donald Trump.

At the same time, Trump is imposing stiff tariffs on China, Mexico and Canada, with China and Canada firing back with retaliatory tariffs.

The letters are two of more than 700 received so far by the trade representative’s office in response to an invitation for public comment on “unfair trade practices by other countries.” The responses are posted on a public docket.

Jamieson Greer, President Donald Trump’s nominee to be U.S. trade representative, testifies during his Senate Finance Committee confirmation hearing, in the Dirksen Senate Office Building, Feb. 6, 2025.

Tom Williams | CQ-Roll Call, Inc. | Getty Images

Tesla, in its unsigned letter to Greer, encouraged him “to consider the downstream impacts of certain proposed actions taken to address unfair trade practices.”

“While Tesla recognizes and supports the importance of fair trade, the assessment undertaken by USTR of potential actions to rectify unfair trade should also take into account exports from the United States,” said the letter, which was submitted by Tesla’s associate general counsel Miriam Eqab.

“U.S. exporters are inherently exposed to disproportionate impacts when other countries respond to U.S. trade actions.”

Tesla noted that, “Past U.S. special tariff actions have thus (1) increased costs to Tesla for vehicles manufactured in the United States, and (2) increased costs for those same vehicles when exported from the United States, resulting in less competitive international marketplace for U.S. manufacturers.”

“USTR should investigate ways to avoid these pitfalls in future action,” the letter said.

SpaceX, in its letter to Greer, said that it “faces a range of regulatory complexities and trade barriers in every country that the U.S. Government should seek to address in order to support continued U.S. leadership in the space domain.”

The letter noted that the company must pay foreign governments for access to spectrum and import duties for its Starlink satellite internet equipment, and other fees that “substantially increase the cost of operating in these countries — artificially.”

“The import duties paid in a handful of countries represent a significant cost increase for Starlink products in those countries, despite the United States having essentially no duties on similar foreign products that are imported into the United States to serve customers here,” wrote Mat Dunn, SpaceX’s senior director of global business and government affairs, in the letter.

“As President Trump has noted with other sectors, this is a significant disadvantage to U.S. companies,” Dunn wrote.

Tesla and SpaceX did not immediately respond to a request for comment from CNBC about their letters.

DK Metcalf Confirms Engagement To Normani After Soccer Commerce

Aww, Roommates! Congratulations are in order for Normani and DK Metcalf — they have officially announced their engagement.

RELATED: Congrats! Actress Paige Hurd & Phoenix Suns Basketball Player Royce O’Neale Are Engaged (PHOTOS)

Details On Normani & DK Metcalf’s Engagement

The Shade Room caught a video DK Metcalf, formerly knowns as DeKaylin Metcalf, dropped where he slid in the big announcement. DK’s got a lot to celebrate as he just got traded from the Seattle Seahawks to the Pittsburgh Steelers. While talking about the move, he surprised everyone by revealing he’s engaged to Normani.

“Shoutout to my beautiful fiancée man for being here with me. Can’t wait to step on the field with the rest of the black and gold nation,” DK said in the clip.

Along with DK’s video, pics of him and Normani popped up, showing him getting ready to officially sign his trade contract. Swipe below to the sweet photos.

DK Dishes On How He Popped The Big Question To Normani

DK didn’t hold back on sharing how he went about proposing to Normani. During a press conference about his trade to the Steelers, he shared that he popped the question in Houston, Texas during his sister’s spring break, with both their families there for the big moment. He also revealed he planned to propose last year, but Normani’s schedule got in the way.

When the chance finally came, he started sending her flowers with a story, and the last one said, “Will You Marry Me?” 

Here’s How Ciara & Russell Wilson Played Matchmaker For Normani & DK

DK gave a full background on his love story with Normani. He gave props to Russell Wilson and Ciara for connecting them back in 2020 and said the rest was history.

Social Media Reacts

The Roommates flooded The Shade Room’s comment section with reactions to Normani and DK Metcalf’s engagement. Several social media users congratulated them and were happy to see them together.

Instagram user @panasexiii wrote, “Black love ❤️” 

Instagram user @itsbritnihunny wrote, “Congratulations! They’re a lovely couple. 🫶🏾” 

While Instagram user @__terrick wrote, “The fact that ciara introduced them shows her prayer works.” 

Then Instagram user @abaforewa wrote, “Omgoshhh yay!! I love this for us! A normal dating and engagement without all the drama!” 

Another Instagram user @ohsomocha wrote, “Just to think Ciara introduced them… i love this.” 

Instagram user @thequeenchioma wrote, “HERE FOR IT 🖤 I love Black love!” 

While another Instagram user @nurseblue23 wrote, “The sisters becoming wives top tier 😍” 

Instagram user @d33skiiii wrote, “🥹🥹🥹 I love to see black athletes with black women.. YOU BETTA GO HEAD DEN DKKK!!” 

Finally, Instagram user @gettfasapafterthissht wrote, “That’s what’s up. She fine he fine them babies gone be adorable I love love 😍” 

RELATED: Congrats! DeVon Franklin & Maria Castillo Announce Their Engagement After Dreamy Hawaiian Vacation (PHOTOS)

What Do You Think Roomies?