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New Jersey Chamber Insider

Business News, Advice and Trends

March 27, 2025

Today's Highlights

• President announces 25% tariffs on all cars ‘not made in the U.S.’

• U.S. economy grew 2.4% in the 4th quarter after upgrade in final growth estimate.

• RWJBarnabas Health expands food insecurity initiative with Share My Meals.

President announces 25% tariffs on all cars ‘not made in the U.S.’

President Donald Trump on Wednesday said he would impose 25% tariffs on all cars that are not made in the United States. Trump said there is “absolutely no tariff” for cars that are built in the U.S. The new tariffs were codified in a presidential proclamation and they will go into effect April 2. (CNBC)

The $1 billion in tax hikes that Governor Murphy wants

The governor is seeking to hike taxes and fees on items including alcohol, marijuana, cigarettes, drones, online gambling and online sports betting, according to new budget documents released by the Murphy administration earlier this week. Meanwhile, Murphy wants lawmakers to expand the list of “services and transactions” that would be subject to the state’s 6.625% sales tax. Revenue raised by the proposed tax and fee increases would largely go to support the $58 billion annual budget unveiled by Murphy on Tuesday. (NJ Spotlight News)

U.S. economy grew 2.4% in the 4th quarter after upgrade in final growth estimate

The U.S. economy expanded at a healthy annual 2.4% pace the final three months of 2024, supported by a year-end surge in consumer spending, the government said Thursday in a slight upgrade of its previous estimate of fourth-quarter growth. But it’s unclear whether the United States can sustain that growth. (Associated Press)

Bill Gates: Within 10 years, AI will replace many doctors and teachers—humans won’t be needed ‘for most things’

The world is entering a new era of what Gates called “free intelligence” in an interview last week. The result will be rapid advances in AI-powered technologies that are accessible and touch nearly every aspect of our lives. (CNBC)

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Casio America relocating HQ to Jersey City

Casio America Inc. is relocating its headquarters from Dover to Jersey City at Harborside Plaza 5. The consumer electronics maker announced the move in a March 26 press release. The company said the change is part of a strategic transformation designed “to modernize operations, enhance innovation and position the company for long-term success.” (NJBIZ)

Cornerstone NJ Member News

RWJBarnabas Health expands food insecurity initiative with Share My Meals

RWJBarnabas Health is expanding its partnership with Princeton-based nonprofit Share My Meals across its hospital network to combat food insecurity in New Jersey. The initiative, which repurposes surplus hospital cafeteria meals for donation, follows a successful pilot at Robert Wood Johnson University Hospital Somerset, where more than 5,200 meals were provided, saving 3.25 tons of food and reducing 29,300 pounds of carbon emissions in its first year. (ROI-NJ)

Governor Murphy, Princeton University, Microsoft & CoreWeave Cut Ribbon on Major Artificial Intelligence Hub

Governor Phil Murphy, along with representatives from the New Jersey Economic Development Authority (NJEDA), Princeton University, Microsoft, and CoreWeave, today officially opened the NJ AI Hub, a state-of-the-art, collaborative ecosystem that will integrate world-class research, innovation, education, and workforce development. The NJ AI Hub will provide a physical location where AI start-ups can collaborate, helping to support new, diverse innovators and drive long-term economic growth. The NJ AI Hub is located at 619 Alexander Road in West Windsor Township, in space provided by Princeton University. Located along Route 1 – New Jersey’s innovation corridor – the Hub will help position the state as a leading East Coast center for AI innovation. (State of New Jersey)

Merck buys rights to heart disease drug in latest China deal

Merck has signed a licensing agreement for a heart disease drug with Jiangsu Hengrui Pharmaceuticals worth up to $2 billion, the latest in a series of deals U.S. drugmakers have recently signed with China-based firms. (ROI-NJ)

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Business Events

April 3 – Briefing: The Impact of the Trump Administration’s First 100 Days on Business (Virtual Event)

Free Virtual Event, 9 a.m. to 10 a.m.

This event features Neil Bradley, senior vice president & chief policy officer at the U.S. Chamber of Commerce.

More information and register

April 17 – Member Mixer (Free to members)

Control Points Associates, Warren, 5:30 p.m. to 8 p.m.

More information and register

April 23 – Networking & Baseball: Brooklyn Cyclones at Jersey Shore BlueClaws (Young Professionals Event)

ShoreTown Ballpark, Lakewood, 6 p.m. to 9 p.m.

More information and register

May 1 – Marketing on a Shoestring Budget in 2025 (Virtual Event)

Free Virtual Event, 9 a.m. to 10 a.m.

More information and register

May 19 – NJ Chamber Challenge Cup Golf Outing

Bedens Brook Club, Skillman, Noon

More information and register

May 21 – Business Roundtable Breakfast with Speaker Craig Coughlin

National Conference Center, East Windsor, 8:15 a.m. to 10:15 a.m.

Assembly Speaker Craig Coughlin will discuss the proposed fiscal 2026 state budget, and other issues vital to the business community.

More information and register

June 12 – 28th Annual NJ Chamber Open House and Reception

New Jersey State Museum, Trenton, 4 p.m. to 7 p.m.

More information and register

July 16 – Young Professionals Networking Mixer

CGI, New Brunswick, 5:30 p.m. to 8 p.m.

More information coming soon

Sept. 18 – Women of Inspiration Awards Reception

National Conference Center, East Windsor, 5 p.m. to 8:30 p.m.

More information coming soon

Sept. 25 – Member Networking Breakfast (Free to members)

New Jersey Audubon, Bernardsville, 9 a.m. to 10:30 a.m.

More information coming soon

Oct. 22 – NJ Chamber Legislative & Business Awards Reception

EisnerAmper, Iselin, 5 p.m. to 8 p.m.

More information coming soon

Nov. 6 – DE&I Trailblazer Awards Reception

Co-Hosted by African American Chamber of NJ and NJ Chamber

Pines Manor, Edison, 5:30 p.m. to 8 p.m.

More information coming soon

Dec. 11 – Annual Member Holiday Party (Free to members)

Calandra's Italian Village, 5 p.m. to 8 p.m.

More information coming soon

Business Resources

N.J. Economic Development Authority

Choose New Jersey 

New Jersey Business Action Center

U.S. Chamber of Commerce

N.J. Small Business Development Centers

U.S. Small Business Administration

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The New Jersey Chamber of Commerce is staying on top the issues important to business. For news media requests, please email Scott Goldstein.