China's Coal Pipeline Risks Creating Glut, Blowing Climate Goals
More than 450 sites are in development across China, with nearly 40% under construction or in test operation, according to the California-based researcher, which promotes clean energy use. If they are all built, their combined capacity of 1.35 billion tons a year would surpass that operating in Indonesia and Australia, the biggest exporters of the power-generation and steelmaking fuel.
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Android Authority
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Forbes
5 minutes ago
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Tariffs, Now What? An Investor's Guide To Tariffs
It's the most beautiful word in the English language. "Tariffs." Well, that is according to President Donald Trump. But what exactly is it? A tariff is a tax imposed on imported or foreign goods, thereby increasing their cost. Tariffs are not unique to the United States. Governments worldwide use tariffs to make their domestic products more competitive in the global marketplace and protect specific domestic industries against cheaper foreign alternatives. For the United States, which began heavily outsourcing manufacturing starting in the 1980s, tariffs are also a tool to incentivize a reshoring of domestic supply April 2, 2025, Trump announced much higher tariffs than expected on nearly all U.S. trading partners. It was his self-proclaimed "Liberation Day," though just four days later, the S&P 500 and Dow Jones Industrial Average both fell by more than 10%. 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According to KPMG's Q1'25 Pulse of Private Equity Report: "In this environment, PE firms are expected to concentrate activity in tariff-resilient sectors such as technology, business services, financial services, and healthcare — industries perceived as better positioned to weather global trade volatility." To speak on a few sectors mentioned in KPMG's report - For technology, tariffs on imported components, such as chips, may drive investment into U.S.-based manufacturing, cloud infrastructure, and cybersecurity, where private equity can provide capital growth. In the financial services sector, certain fintech platforms and private credit lenders operate with minimal exposure to foreign goods or global supply chains. There are several ways for investors to access these private equity markets. For example, private equity funds are available to investors. This option involves substantial risk though, as the fund's success relies on the manager's ability to create value and sell underlying companies to realize gains. Another option is the fund-of-funds or multi-manger funds. This option is similar to a private equity fund; however, the underlying portfolio consists not of individual companies but of other private equity funds. This approach allows broader diversification by providing access to multiple asset classes, sectors, investment strategies, and managers, all from a single investment. Regardless of the private equity investment, it is important to understand that these types of investments carry risks. They are generally illiquid and require an appropriate risk tolerance. They are also most suitable for investors with a relatively long time horizon. Tariff Talk On Real Estate While real estate rarely enters the conversation about tariffs, specific subsectors – particularly essential retail and industrial real estate – are uniquely positioned to weather the storm and, in some cases, potentially benefit from the tariff environment. In their May 2025 Investment Perspective, analysts at Lord Abbett noted, "Within the retail sector, our preference is for grocery-anchored shopping centers that benefit from necessity-based retailers. Marginal malls and power centers are most at risk from a strained consumer. We are keenly aware of possible tenant bankruptcies as retail margins and volumes are potentially squeezed due to tariffs." The types of businesses that didn't close during the 2020 Covid pandemic are the types that are still needed if the economy slows down. When looking at tariffs, you can use the same filter. Regardless of a tariff - is the item a must have or a like to have? Resilient cash flows continue to come in from tenants with stable demand (i.e., food, medicine), which are more likely to maintain financial consistency to pay their leases. While essential retail offers stability, industrial real estate offers opportunity. Warehousing, logistics centers, and "Last Mile" fulfillment centers have become increasingly important in a high-tariff environment to support domestic supply chains, transportation, and timely deliveries. Investors have the typical options of public or private REITs to access these sectors of the real estate market. Another option that pertains specifically to industrial real estate is the Zero-Coupon Delaware Statutory Trust (DST). In a Zero-Coupon DST, all cash flow is directed to service the property's debt. Zero-Coupon DSTs typically involve properties leased to high-credit tenants, such as large industrial distribution facilities. So, why would anyone invest in a DST that generates no income? The answer: tax advantages. Although a Zero-Coupon DST does not provide income for investors, it allows them to defer capital gains and other taxes owed from a property sale. Rather than paying the IRS, an investor can reinvest the proceeds into real estate using a 1031 exchange. Another advantage is the investor typically received passive losses that can help defer the taxes on other investments passive income. While the loss of income may be a downside, investing in a Zero-Coupon DST may be the lesser of two evils compared with paying a large tax bill upfront on a property sale. Additionally, investors can potentially earn a return on their investment when exiting the Zero-Coupon DST if the property appreciates or if the loan on the property is paid down during the holding period (which can span anywhere from 10 to 20+ years). Investors should be aware that a pay down of principal on the loan is considered taxable income by the IRS. Since no distributions are paid in a Zero-Coupon DST, an investor may need to pay out-of-pocket for any taxes owed on this phantom income. Be advised that DSTs available through private placements are highly speculative, illiquid securities and involve the risk of loss of invested money. While tariffs can be a concern for investors, there are alternatives such as Zero-Coupon DSTs, real estate, and even private equity that allow for potential growth. Securities are offered through Arkadios Capital. Member FINRA/SIPC. Advisory services are offered through Creative Capital Wealth Management Group. Creative Capital Wealth Management Group and Arkadios are not affiliated through any ownership. This material was created for educational and informational purposes only and is not intended as tax, legal or investment advice.
