Carmaker Ford says tariffs will cost it about $1.5bn this year as toymaker says it will reduce imports from China

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Barbie maker Mattel has said it will increase prices for some products in the US as Donald Trump’s sweeping tariffs bump up costs for the toymaker.

The US represents about half of Mattel’s global toy sales, and the company imports about 20% of its goods sold in the country from China. Mattel said it would reduce imports into the US from China to below 15% by 2026.

CEO, Sam Altman, says decision to backtrack was made ‘after hearing from civic leaders’ and state attorneys general

OpenAI has reversed course in the process of transforming into a for-profit entity, announcing on Monday that its non-profit arm would continue to control the business that makes ChatGPT and other artificial intelligence (AI) products. Previously, the company had sought more independence for its for-profit division.

“We made the decision for the nonprofit to stay in control after hearing from civic leaders and having discussions with the offices of the Attorneys General of California and Delaware,” said CEO Sam Altman in a letter to employees. Altman and the chair of OpenAI’s non-profit board, Bret Taylor, said the board made the choice for the non-profit to retain control of OpenAI.

Two children believed to be among missing as search continues for people believed to be migrants

Three people were killed and seven others, including two children, were missing after a small boat capsized in choppy waters off the coast of San Diego, California, on Monday.

The fatal disaster appeared to be an apparent migrant smuggling attempt, officials said. Four other people were rescued after the “panga”-style open fishing vessel washed ashore near Torrey Pines state beach were transported to hospital, according to US Coast Guard officials.

President calls films ‘national security threat’ and claims he called on commerce department to immediately enact tariff

Donald Trump on Sunday announced on his Truth Social platform a 100% tariff on all movies “produced in Foreign Lands”, saying the US film industry was dying a “very fast death” due to the incentives that other countries were offering to draw American film-makers.

In his post, he claimed to have authorised the commerce department and the US trade representative to immediately begin instituting such a tariff.