Hong Kong Colonial Classic Landau's Returns Offering Great Value
I visited the newer restaurant recently with two guests. The takeaway is it offers modern European fare at a reasonable price in a nice location in Wan Chai. The set lunch is good value, starting from HK$98 ($12.61) with a choice of starter and main course. The most expensive combination set I saw from the menu that day was priced at HK$286.
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Boston Globe
an hour ago
- Boston Globe
Mexico, EU tariff threats send uncertainty rippling through Boston's shoppers and small business owners
'Everything comes from Mexico ‐ avocadoes, cilantro, radishes ‐ a lot of whole foods,' she said. 'Something that seems small to billionaires could really affect people.' If the tariffs go into effect on August 1, consumers forced to pay more for daily groceries will spend less elsewhere in the economy, experts warn. In addition to future price hikes, Trump's tariff threats will cause Americans to feel more economic uncertainty, according to financial experts. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up The tariffs would cause prices to rise in the 'global food supply chain,' and the import taxes likely wouldn't bring manufacturing jobs back to the US, said Scott Clemons, chief investment strategist for Brown Brothers Harriman & Co., a global firm founded in 1818. Advertisement Over the past several decades, the US has strengthened its exports of legal, tech, accounting and other services, Clemons said. Despite Trump's agenda, the balance of global trade favors US service exports and goods imports, he said. 'If these tariffs go into effect and last, we're going to find out viscerally how much of our food supply is imported,' Clemons said. Advertisement If Mexico and the EU negotiate more favorable trade terms with the US in the next couple of weeks, the 30 percent tariff Trump threatened won't go into effect, according to letters the president posted online. Caroline Aiello, a co-owner of DeLuca's on Newbury Street, said Sunday that she felt a little bump in prices when the first tariff scare took place earlier this year. DeLuca's did not adjust prices at the time, and she said if tariffs do come into effect, there isn't a set plan in place to offset the cost. 'We're already competing with huge stores, and we don't have the buying power that they do,' Aiello said. At JP's Streetcar wine shop, about 80 percent of the bottles on shelves are imported from Europe, said owner Mike Dupuy. Prices on all the wine at the shop ‐ domestic and European ‐ will certainly go up if the tariff is imposed, he warned. After importers pay the 30 percent tariff on European wine, they'll pass off the increased costs to distributors, many of whom sell both US and international wine, Dupuy explained. The distributors, who sell cases to shops like Streetcar, would likely raise the price of all their products, including wine produced in the US, he said. Furthermore, American wine makers in California, Oregon and New York rely on equipment ‐ and even wine bottles ‐ imported from Europe, Dupuy said. 'It's kind of immeasurably bad news,' said Dupuy, who opened his shop 13 years ago with an intent to focus on wines from France, Italy, Germany and Austria. Jordan Garry, store manager at Tropical Foods in Roxbury, said the store has not experienced any price increases following the Trump administration's tariff announcement. Garry has seen minor price changes but the store, which specializes in Caribbean and African products and produce, has absorbed some of the cost to stay competitive Advertisement 'I'm personally more worried about January when they cut the food stamps. You know, that's gonna be a wake-up call for a lot of people,' Garry said. Denise Korn, a South End resident who regularly shops at South End Food Emporium, said that she likes to buy her morning newspaper at the store, which serves a diverse community. As a first-generation American, Korn said that Trump's proposed tariffs will not serve the American people, especially those struggling with food insecurity. 'There are unforeseen consequences to people that are already struggling with putting food on the table,' Korn said. The tariff threat alone is a harsh symptom of the political and economic unpredictability Trump wields, said Clemons, the chief investment strategist. The same uncertainty that will cause moms to stress about bills will also prevent business owners from investing in new capital, he said. 'It makes it very difficult to plan,' Clemons said. 'What I worry about is that if you aggregate all of those spending decisions, or more precisely, non-spending decisions, you wind up with a recipe for an economic slowdown.' Santiago said her two-income household will probably be able to handle grocery price increases with only a bit of economic discomfort. She already uses services like Misfits Markets, paying less for oddly shaped fruits. Her corner of JP is vulnerable to a more unique economic slowdown ‐ one where neighborly generosity is taxed at a higher rate, she said. When Santiago had the flu in February, Pimentel Market cashier Juan Campos gave her a shot of his herbal brew made with raw vegetables. He also recently shared the drink with cooks at a nearby restaurant, who all came down with the same illness. Advertisement 'I'm just thinking of how this could influence someone who does something out of the kindness of their heart,' she said. Claire Thornton can be reached at
Business Insider
2 hours ago
- Business Insider
Trump's 30% Tariff Threat Targets EU and Mexico – Key Stocks at Risk by August 1
Tariffs are back, and this time the stakes are bigger. President Donald Trump said the U.S. will impose a 30% tariff on all goods from the European Union and Mexico, two trade partners that account for nearly one-third of total U.S. imports. The new tax hits on August 1 and could push up prices, disrupt supply chains, and pressure margins across industries from autos to retail. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. The EU accounted for $553 billion in U.S. imports in 2022, while Mexico contributed $454.8 billion, according to the U.S. Trade Representative. Together, they make up nearly one-third of all U.S. imports. A blanket 30% tariff on this scale will likely mean higher prices at checkout for American consumers, especially on goods like cars, auto parts, wine, spirits, pharmaceuticals, and electronics. Several Industries Are Bracing for Impact Retailers and importers will face tough decisions. Most will pass on the higher costs, raising prices on European and Mexican goods. Supply chains could also get squeezed. Companies that rely on components or materials from these regions may experience delays, price hikes, or need to find new vendors altogether. For investors, several consumer and retail names could feel the pressure. Automakers like BMW (BMWYY), Volkswagen (VWAGY), and Stellantis (STLA) have large export footprints from Europe. In the U.S., retailers like Costco (COST), Walmart (WMT), and Target (TGT) could see margin pressure if import costs rise. U.S. wine importers and spirits sellers like Constellation Brands (STZ) may also be affected if European products become more expensive. The EU and Mexico have both signaled they may respond. European Commission President Ursula von der Leyen warned of 'proportionate countermeasures' if the tariffs go through. Mexico called the move 'unfair' and said talks are ongoing. More Tariffs on Deck The broader policy comes as part of Trump's tariff strategy, first launched on April 2 with a 10% blanket rate and higher duties on nearly 60 countries. That rollout caused market turbulence before being paused for negotiations. Only the United Kingdom and Vietnam have finalized preliminary trade deals since then. Trump has now reset the deadline for Aug 1, with tariff letters also been sent to 23 other partners, including Canada, Japan, and Brazil. If no new deals are reached, tariffs as high as 50% could hit a wide range of imports. That could weigh on consumer demand, raise inflation, and complicate supply chains heading into the holiday season. Investors will be watching for signs of trade resolutions or retaliations in the weeks ahead. Using TipRanks' Comparison Tool, we've gathered all the tickers mentioned in this article – each potentially exposed to margin pressure if the new tariffs take effect – and compared them side by side.
Miami Herald
6 hours ago
- Miami Herald
European Leaders Respond to Donald Trump's Tariff Announcement
European leaders on Saturday responded to President Donald Trump's announcement that he would apply a 30 percent tariff on goods from the European Union (EU) effective August 1. In a statement issued midday on Saturday, European Commission President Ursula von der Leyen stressed the EU's commitment to "dialogue, stability, and a constructive transatlantic partnership." Leaders in France and Italy also issued statements later in the day, urging both parties to reach a "fair agreement that can strengthen the West as a whole." Trump has relied on tariffs as a means of trying to renegotiate global trade between the United States and its various partners citing disparities in what he calls unfair trade agreements in order to try and strengthen his country's position. However, he has found himself at odds with his allies as they have pushed back against the tariffs despite his claim that these various partners would ultimately seek to make new deals with the U.S. in order to avoid having to face the tariffs. The administration made its boldest move in April with its Liberation Day tariffs, which applied reciprocal measures against trading partners in order to try and drive down protections against vital U.S. trade industries. Trump ultimately backtracked on the measure, saying that he would negotiate deals with all the various partners within 90 days, but only the United Kingdom and Vietnam ultimately agreed to deals within that timeframe. Trump announced the new tariffs in a letter posted on Truth Social shortly before 9 a.m. ET on Saturday, in which he also warned against retaliation, saying that any retaliatory tariff would produce a reciprocal tariff in addition to the base 30 percent he would impose on the EU. With Saturday's letters, Trump has issued tariff conditions on 24 countries and the 27-member EU, the Associated Press reported. The EU issued a response first, writing in a statement: "We take note of the letter sent by U.S. President Trump outlining a revised tariff rate and a new timeline." "Imposing 30 percent tariffs on EU exports would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers and patients on both sides of the Atlantic," the statement continued. "Few economies in the world match the European Union's level of openness and adherence to fair trading practices." "The EU has consistently prioritized a negotiated solution with the U.S., reflecting our commitment to dialogue, stability, and a constructive transatlantic partnership." "We remain ready to continue working towards an agreement by August 1," the statement added. "At the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required. Meanwhile, we continue to deepen our global partnerships, firmly anchored in the principles of rules-based international trade." French President Emmanuel Macron issued his own response just a few hours afterwards, writing in a post on X, formerly Twitter: "Along with the President of the European Commission, France shares the same very strong disapproval at the announcement of horizontal 30% tariffs on EU exports to the United States from August 1st." "This announcement comes after weeks of intense engagement by the Commission in negotiations with the United States, on the basis of a solid offer made in good faith," he wrote. "With European unity, it is more than ever up to the Commission to assert the Union's determination to resolutely defend European interests." His statement continued: "In particular, this implies speeding up the preparation of credible countermeasures, by mobilizing all the instruments at its disposal, including anti-coercion, if no agreement is reached by August 1st. On this basis, France fully supports the European Commission in the negotiations, which will now intensify, to reach a mutually acceptable agreement by August 1st, reflecting the respect that trading partners like the European Union and the United States owe each other, with their shared interests and integrated value chains." Italy followed France in backing the EU in negotiations, with Italian Prime Minister Giorgia Meloni's office writing: "We trust in the goodwill of all stakeholders to reach a fair agreement that can strengthen the West as a whole, given that—particularly in the current scenario—it would make no sense to trigger a trade conflict between the two sides of the Atlantic." "The Italian government continues to closely monitor the progress of the ongoing negotiations between the European Union and the United States, fully supporting the European Commission's efforts, which will be further intensified in the coming days," the statement added. "Now, it is crucial to remain focused on the negotiations, avoiding polarization that would make reaching an agreement more difficult." The EU will continue to seek a trade deal on behalf of all member states with the U.S. before the August 1 deadline or face the hefty 30 percent tariff Trump has promised. Related Articles Pope Francis' Funeral Could Turn Into Awkward Diplomatic EventEuropeans Told to Stockpile 72 Hours Worth Of FoodFrance Vows Retaliatory Measures Against Trump Tariffs: 'The Time Has Come'Some Reddit Groups are Banning X Links. Could Europe be Next? 2025 NEWSWEEK DIGITAL LLC.
