LAS VEGAS – January 5, 2025 – Announced at the agenda-setting CES® 2025 Tech Trends to Watch, the Consumer Technology Association (CTA)® projects record retail revenues as the U.S. consumer technology industry grows 3.2% over 2024 to $537 billion in 2025. This signals growth in consumer spending on tech products and services, according to CTA’s U.S. Consumer Technology One-Year Industry Forecast.

Meanwhile, updated CTA research shows the tech products consumers love and rely upon, including smartphones and laptops, are threatened by President-elect Trump’s tariff proposals. CTA’s updated report: “How Proposed Trump Tariffs Increase Prices for Consumer Technology Products” shows:

• Tariffs on technology products could lead to a $90-$143 billion decline in U.S. consumer purchasing power.
• Purchases of laptops and tablets could decline by as much as 68%, consumption of gaming consoles could decline by as much as 58% and consumption of smartphones could decline by up to 37%.

“The tech sector is America’s economic engine, driving global innovation and job creation,” said CTA CEO Gary Shapiro. “Our positive forecast reflects the industry’s strength, but proposed tariffs threaten the deflationary power of tech in the global economy. Tariffs are a tax on American businesses and consumers. We urge the incoming administration and Congress to prioritize an Innovation Agenda that fosters growth.”

“The incoming administration must address how tariffs impact American businesses and consumers,” said CTA Vice President of Trade Ed Brzytwa. “Retaliation from our trading partners raises costs, disrupts supply chains, and hurts the competitiveness of U.S. industries. U.S. trade policy should protect consumers and help American businesses succeed globally.”

If you missed the CES Research Trends presentation, watch the replay of CES 2025 Trends to Watch, presented by CTA at 10 a.m. PT, Monday, January 6.

Methodology 
CTA’s U.S. Consumer Technology One-Year Industry Forecast is updated twice a year, informed by qualitative and quantitative input from CTA members, industry experts and third-party data sources. 

How The Proposed Trump Tariffs Increase Prices for Consumer Technology Products was commissioned by CTA and undertaken by Trade Partnership Worldwide LLC (TPW). TPW employed a modeling strategy that enables the researchers to estimate the cross-country impacts of changes in trade policy (applying increased tariff rates on top of existing tariff rates) for detailed product categories. 

Sign up for CTA Research Insights. 

About Consumer Technology Association (CTA)®:   
As North America’s largest technology trade association, CTA is the tech sector. Our members are the world’s leading innovators – from startups to global brands – helping support more than 18 million American jobs. CTA owns and produces CES® – the most powerful tech event in the world. Find us at CTA.tech. Follow us @CTAtech. 

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About CES®:   
CES is the most powerful tech event in the world – the proving ground for breakthrough technologies and global innovators. This is where the world’s biggest brands do business and meet new partners, and the sharpest innovators hit the stage. Owned and produced by the Consumer Technology Association (CTA)®, CES features every aspect of the tech sector. CES 2025 takes place Jan. 7-10, 2025, in Las Vegas. Learn more at CES.tech and follow CES on social. 

STM Daily News is a vibrant news blog dedicated to sharing the brighter side of human experiences. Emphasizing positive, uplifting stories, the site focuses on delivering inspiring, informative, and well-researched content. With a commitment to accurate, fair, and responsible journalism, STM Daily News aims to foster a community of readers passionate about positive change and engaged in meaningful conversations. Join the movement and explore stories that celebrate the positive impacts shaping our world. https://stmdailynews.com/

The California high-speed rail project, a bold vision aimed at transforming transportation across the state, is making strides in the Central Valley, despite facing a rocky road filled with challenges and delays. On January 6, 2025, California Governor Gavin Newsom joined California High-Speed Rail Authority CEO Ian Choudri to celebrate a significant milestone in the construction of the railhead—a staging area for laying down tracks for the future bullet-train route that will connect cities from Merced to Bakersfield.

What’s Happening at the Railhead?

Located between Wasco and Shafter in Kern County, the new railhead site marks the beginning of laying down steel rails for high-speed trains. This pivotal area will serve as the operational hub for transporting materials necessary for track installation, indicating a promising step towards making the high-speed rail a reality.

“Finally, we’re at the point where we’re going to start laying down this track in the next couple of years,” remarked Newsom, emphasizing the significance of this development. The railhead is not just another construction site; it symbolizes the persistent efforts to change the face of transportation in California.

A Journey Full of Hurdles

The high-speed rail project has been no stranger to controversy and challenges. First conceived to provide swift travel across California, the project’s history tells a tale of fluctuating timelines and ballooning costs. Originally initiated in 2013, the construction has continuously faced delays, with the anticipated completion date pushed from 2018 to 2026 for the first segments alone.

In a significant contrast to initial expectations, the financial requirements have surged, with costs for construction packages skyrocketing from a combined estimate of well under $2 billion to an updated total that now exceeds $8 billion across various contracts. This upward shift in expenditure has raised eyebrows and concerns, prompting scrutiny from both political figures and members of the public.

For instance, the first construction package, stretching from north of Madera to Fresno, originally bid at under $1 billion, now faces an anticipated completion at a staggering value of over $3.7 billion. Such changes have led to questions surrounding the project’s management and efficiency.

The Political Landscape

Adding complexity to the situation is the shifting political terrain as federal support has been uncertain. With President-elect Donald Trump slated to take office soon, there is apprehension regarding the potential withdrawal of federal funding that has supported California’s ambitious plans. Historical context reigns as the Federal Railroad Administration canceled nearly $1 billion in previously awarded grants during Trump’s first administration. However, the recent Bipartisan Infrastructure Law, passed in 2021, has provided a glimmer of hope by funneling additional funds towards the project.

State leaders, including Governor Newsom, maintain an optimistic outlook despite the political uncertainties. “We are in a very different place at this sacred moment,” he stated, reminding stakeholders of the project’s momentum.

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Looking Ahead

The road ahead remains both exciting and uncertain. The California High-Speed Rail Authority is on the cusp of awarding contracts for track installation, alongside contracts for the purchase of trainsets set for testing operations. The goal is to have the Merced-Bakersfield line operational between 2030 and 2033, a target that promises to reshape commuting experiences in California.

As we move closer to achieving this transformative project, it’s essential to keep in mind that progress in such a complex endeavor requires not only engineering feats but also perseverance amid bureaucratic and fiscal challenges. The upcoming years will undoubtedly be pivotal in determining whether this bold vision of high-speed travel will reach its destination, but for now, California is laying the tracks for a new transit future—one spike at a time.

Stay tuned for more updates as we follow the California high-speed rail project through its journey from ambitious dream to infrastructural reality!

California High-speed Rail Related Links:

California high-speed rail California High-Speed Rail Update ( Fresno Bee) https://www.fresnobee.com/news/local/high-speed-rail/article298078633.html

HSR official website: https://hsr.ca.gov/

STM Daily News is a vibrant news blog dedicated to sharing the brighter side of human experiences. Emphasizing positive, uplifting stories, the site focuses on delivering inspiring, informative, and well-researched content. With a commitment to accurate, fair, and responsible journalism, STM Daily News aims to foster a community of readers passionate about positive change and engaged in meaningful conversations. Join the movement and explore stories that celebrate the positive impacts shaping our world. https://stmdailynews.com/

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Carlos Lopes, University of Cape Town

As we approach the global annual climate change conference, COP29, the need for increased public finance from the global north to address climate adaptation in Africa has become more urgent than ever.

However, framing the finance debate solely around this need risks deepening mistrust and downplaying the scale of the challenge. The financial burden of addressing climate change, coupled with limited fiscal space, creates a precarious situation for many African countries. African countries bear no historical responsibility for causing the climate crisis. However, they rely heavily on external financing to solve climate change problems.

Unfortunately, much external climate finance comes from loans rather than grants. This only worsens Africa’s debt burden. There is also not nearly enough money being channelled to Africa to pay for climate change adaptation.

At COP29, African negotiators will undoubtedly focus on reducing dependence on debt, and improving access to finance. I’m an economist who specialises in climate change and governance, with a long background at the United Nations and the African Union. Without robust commitments from public financial institutions, Africa will continue to face the dual crises of climate vulnerability and debt.

African countries must use COP29 to tackle systemic biases that inflate risk perceptions, minimise African achievements and inflate its problems. These biases drive up borrowing costs, and worsen commodity dependence.

The climate finance gap

The African Development Bank has estimated that Africa needs between US$1.3 trillion and US$1.6 trillion in total climate financing every year between 2020 and 2030. This will enable African countries to meet their commitments to reduce greenhouse gas emissions, known as nationally determined contributions.

The Global Center for Adaptation estimates that Africa requires at least US$52.7 billion annually for adaptation every year until 2035. However, this figure could rise to US$106 billion. This is because data gaps allow for double counting of financial contributions. There is also very little transparency about the real amounts of climate finance being disbursed. Because nationally determined contributions are focused on mitigation, carbon depletion tends to be measured without accurate calculations of the amount of emissions that are captured, or carbon that is conserved.

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The United Nations Development Programme says that Africa’s nationally determined contributions mean the continent needs about US$2.8 trillion by 2030 for climate mitigation. However, Africa contributes only 4% of all greenhouse gas emissions currently. It needs funds for adaptation to adjust to climate change that is already changing the lives of many, rather than for mitigation.

But only about half of the climate finance received by Africa in 2022 was for adaptation (US$4.6 billion). The rest of the climate finance addressed mitigation or a mix of both, in line with the global north’s agenda.

Worse still, 64.5% of adaptation financing came from loans, which need to be repaid. This will increase the financial strain on African nations.

Loans versus grants for climate change adaptation

Multilateral financial institutions such as the International Monetary Fund (IMF) and the World Bank, and the Organisation for Economic Co-operation and Development through their Development Assistance Committee, handed out US$8.33 billion to Africa in 2022 for climate action. But most of this – US$5.4 billion – was loans. Only US$2.9 billion was grants, with a small fraction in equity investments.

These loans come with lower-than-market rates or extended repayment terms. But they still add to Africa’s external debt, which reached US$1.12 trillion in 2022. African countries’ debt repayments are twice what they get as climate finance.

The United Nations Framework Convention on Climate Change says developed countries are responsible for financing climate adaptation in vulnerable regions. But loans that create a huge debt burden only enrich global financial institutions at the expense of African countries.

The effects of climate change are causing unprecedented floods, drought and other disasters across Africa. Yet it is becoming more difficult for African countries to access the climate finance they need to adapt to a warming world.

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Why is the situation worsening?

First, access to climate finance remains a bureaucratic nightmare with complex application processes. There also needs to be more transparency in fund allocation. The recently established Loss and Damage Fund could assist. It is meant to channel money to countries worst affected by climate change to pay for the damage caused.

Second, the focus on reforming Bretton Woods institutions and development finance institutions is shifting attention away from the obligations developed countries have signed up for. This distracts developing nations from making reforms in trade, taxation and financial regulations that could drive more meaningful results.

Third, there is a lack of liquidity (access to fresh money) needed to propel investment or allow countries to bridge their budget deficits. African countries are forced to juggle paying for healthcare, education and infrastructure development with paying back debt. Some spend more on debt repayments than healthcare.

Increased tax efficiency and domestic savings, such as the savings maintained by pension funds, could be used. This should be the priority while the fight for better international conditions continues.

Fourth, the distinction between development finance and climate finance is becoming an impediment to progress. The conversation should move away from getting African countries to prioritise greenhouse gas emission reductions at the expense of other development priorities. Climate action is under-implemented and underfunded. The focus must be on excessive dependency on aid and rather promote market incentives to encourage the private sector to invest in climate adaptation in Africa.

Fifth, African negotiators must address the structural barriers that limit access to finance. For example, biased risk perceptions by credit rating agencies prevent African countries from securing finance. Restrictive prudential rules from the Bank for International Settlements intended to preserve international financial system integrity have proven unfavourable to the transformation of the African economies.

Sixth, Africa should make use of regional climate finance platforms and set up cross-border climate change adaptation projects that benefit more than one country.

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This will allow Africa to pool resources, coordinate demands and make it easier to negotiate better terms for climate finance. Just energy transition partnerships create an opportunity for countries to secure renewable energy funding for the transition from fossil fuel. Success will depend on effective coordination and regional solidarity in international climate negotiations.

Seventh, African countries have strong potential to use carbon markets to finance climate initiatives, provided they have control over them. Nature-based solutions can go hand in hand with reforestation, sustainable land management or conservation, while generating carbon credits. These are additional funding opportunities for climate adaptation efforts in Africa.

This moment demands bold leadership and a united front to rewrite the rules. African countries must secure the commitments and resources at COP29 that are needed to build a sustainable future.

Carlos Lopes, Professor at the Nelson Mandela School of Public Governance, University of Cape Town

This article is republished from The Conversation under a Creative Commons license. Read the original article.

https://stmdailynews.com/stories-this-moment

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