Nvidia Partner Hon Hai to Expand AI Server Assembly in the US
Nvidia Corp. 's major server production partner plans to sell the Ohio facility including land and equipment to Crescent Dune LLC, it said in exchange filings on Monday. Hon Hai said in a separate statement it will continue to occupy the complex, without saying how. The plan is for Hon Hai to continue operating the plant and use the site for its own AI server manufacturing business, a person familiar with the matter said. The person asked to remain anonymous because that information isn't public.
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7 minutes ago
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How Long Would It Take You To Save for a $500K Home on the East Coast?
Saving for a new home is no easy feat, especially in today's costly housing market. For instance, take a $500,000 home on America's Eastern Seaboard: How long would it take you to save for a 20% down payment ($100,000) on such a house? Also See: Learn More: Luckily, GOBankingRates can provide some answers. After recently researching the median income for a single person in every state in America, as well as calculating a yearly savings amount of 20% (and factoring in a monthly mortgage of $2,619 for each state), GOBankingRates was able to discern just how long it would take to put back $100,000 for your half-million-dollar dream home. Further, GOBankingRates projected how long it would take to save for one to five years of additional mortgage payments. Here is what it would take to get your dream home on the East Coast. Connecticut Median income for single person: $52,961 Yearly savings for 20% down payment: $8,475 How many years to save up down payment: 11.8 Saving for a down payment is only half the battle — it helps to put back money for mortgage payments as well. Assuming a presumed monthly minimum mortgage payment of $2,618 in Connecticut, it would take a homebuyer 15.51 years to save up both $100,000 for a down payment and one year's worth of mortgage payments ($131,428), 19.2 years for the down payment and two years of mortgage payments ($162,856), 22.9 years for a down payment and three years of mortgage payments ($194,284), 26.6 years for the down payment and four years of mortgage payments ($225,712) and 30.3 years for a down payment and five years of mortgage payments ($257,140). Check Out: Discover More: Delaware Median income for single person: $49,822 Yearly savings for 20% down payment: $8,054 How many years to save up down payment: 12.4 The First State's costs are such that it would take 16.3 years to save for a $100,000 down payment and one year's worth of mortgage payments ($131,428), 20.2 years for the down payment and two years of mortgage payments ($162,856), 24.1 years for a down payment and three years of mortgage payments ($194,284), 28.0 years for the down payment and four years of mortgage payments ($225,712) and 31.9 years for a down payment and five years of mortgage payments ($257,140). Explore More: Florida Median income for single person: $45,261 Yearly savings for 20% down payment: $7,670 How many years to save up down payment: 13.0 In Florida, it would take you 17.1 years to save for a 20% down payment and one year's worth of mortgage payments ($131,428), 21.2 years for the down payment and two years of mortgage payments ($162,856), 25.3 years for a down payment and three years of mortgage payments ($194,284), 29.4 years for the down payment and four years of mortgage payments ($225,712) and 33.5 years for a down payment and five years of mortgage payments ($257,140). Georgia Median income for single person: $45,785 Yearly savings for 20% down payment: $7,390 How many years to save up down payment: 13.5 Those hoping to for a $500,000 dream home in Georgia would require 17.8 years to save for a $100,000 down payment and one year's worth of mortgage payments ($131,428), 22.0 years for the down payment and two years of mortgage payments ($162,856), 26.3 years for a down payment and three years of mortgage payments ($194,284), 30.5 years for the down payment and four years of mortgage payments ($225,712) and 34.8 years for a down payment and five years of mortgage payments ($257,140). Maine Median income for single person: $41,915 Yearly savings for 20% down payment: $6,873 How many years to save up down payment: 14.6 In Maine a homebuyer will have to save 19.1 years for down payment and one year of mortgage payments ($131,428), 23.7 years for the down payment and two years of mortgage payments ($162,856), 28.3 years for a down payment and three years of mortgage payments ($194,284), 32.8 years for the down payment and four years of mortgage payments ($225,712) and 37.4 years for a down payment and five years of mortgage payments ($257,140). See More: Maryland Median income for single person: $61,575 Yearly savings for 20% down payment: $9,406 How many years to save up down payment: 10.6 Most Old Line State residents would have to save 14 years for a down payment and one year of mortgage payments ($131,428), 17.3 years for the down payment and two years of mortgage payments ($162,856), 20.7 years for a down payment and three years of mortgage payments ($194,284), 24.0 years for the down payment and four years of mortgage payments ($225,712) and 27.3 years for a down payment and five years of mortgage payments ($257,140). Massachusetts Median income for single person: $59,635 Yearly savings for 20% down payment: $9,471 How many years to save up down payment: 10.6 Massachusetts will have you saving 13.9 years for a down payment and one year of mortgage payments ($131,428), 17.2 years for the down payment and two years of mortgage payments ($162,856), 20.5 years for a down payment and three years of mortgage payments ($194,284), 23.8 years for the down payment and four years of mortgage payments ($225,712) and 27.2 years for a down payment and five years of mortgage payments ($257,140). New Hampshire Median income for single person: $54,582 Yearly savings for 20% down payment: $9,168 How many years to save up down payment: 10.9 To buy a home in New Hampshire for half a million dollars, a house hunter would save 14.3 years for a down payment and one year of mortgage payments ($131,428), 17.8 years for the down payment and two years of mortgage payments ($162,856), 21.2 years for a down payment and three years of mortgage payments ($194,284), 24.6 years for the down payment and four years of mortgage payments ($225,712) and 28.1 years for a down payment and five years of mortgage payments ($257,140). Find Out: New Jersey Median income for single person: $57,782 Yearly savings for 20% down payment: $9,357 How many years to save up down payment: 10.7 The Garden State would take you 14.1 years to save a down payment and one year of mortgage payments ($131,428), 17.4 years for the down payment and two years of mortgage payments ($162,856), 20.8 years for a down payment and three years of mortgage payments ($194,284), 24.1 years for the down payment and four years of mortgage payments ($225,712) and 27.5 years for a down payment and five years of mortgage payments ($257,140). New York Median income for single person: $52,516 Yearly savings for 20% down payment: $8,379 How many years to save up down payment: 11.9 New York's real estate market will take you 15.7 years to save a $100,000 down payment and one year of mortgage payments ($131,428), 19.4 years for the down payment and two years of mortgage payments ($162,856), 23.2 years for a down payment and three years of mortgage payments ($194,284), 26.9 years for the down payment and four years of mortgage payments ($225,712) and 30.7 years for a down payment and five years of mortgage payments ($257,140). North Carolina Median income for single person: $42,352 Yearly savings for 20% down payment: $6,936 How many years to save up down payment: 14.4 In North Carolina, it would take 19 years to save a 20% down payment of $500,000 and one year of mortgage payments ($131,428), 23.5 years for the down payment and two years of mortgage payments ($162,856), 28 years for a down payment and three years of mortgage payments ($194,284), 32.5 years for the down payment and four years of mortgage payments ($225,712) and 37.1 years for a down payment and five years of mortgage payments($257,140). Pennsylvania Median income for single person: $44,365 Yearly savings for 20% down payment: $7,165 How many years to save up down payment: 14.0 The Keystone State's residents would need 18.3 years to save a down payment and one year of mortgage payments ($131,428), 22.7 years for the down payment and two years of mortgage payments ($162,856), 27.1 years for a down payment and three years of mortgage payments ($194,284), 31.5 years for the down payment and four years of mortgage payments ($225,712) and 35.9 years for a down payment and five years of mortgage payments ($257,140). Read More: Rhode Island Median income for single person: 49,005 Yearly savings for 20% down payment: $8,020 How many years to save up down payment: 12.5 A $500,000 home in Rhode Island will require 16.4 years to save a down payment and one year of mortgage payments ($131,428), 20.3 years for the down payment and two years of mortgage payments ($162,856), 24.2 years for a down payment and three years of mortgage payments ($194,284), 28.1 years for the down payment and four years of mortgage payments ($225,712) and 32.1 years for a down payment and five years of mortgage payments ($257,140). South Carolina Median income for single person: $40,063 Yearly savings for 20% down payment: $6,706 How many years to save up down payment: 14.9 South Carolinians will take 19.6 years to save a $100,000 down payment and one year of mortgage payments ($131,428), 24.3 years for the down payment and two years of mortgage payments ($162,856), 29.0 for a down payment and three years of mortgage payments ($194,284), 33.7 years for the down payment and four years of mortgage payments ($225,712) and 38.3 years for a down payment and five years of mortgage payments ($257,140). Vermont Median income for single person: $46,243 Yearly savings for 20% down payment: $7,624 How many years to save up down payment: 13.1 In Vermont, you'll save for 17.2 years to manage a $100,000 down payment and one year of mortgage payments ($131,428), 21.4 years for the down payment and two years of mortgage payments ($162,856), 25.5 years for a down payment and three years of mortgage payments ($194,284), 29.6 years for the down payment and four years of mortgage payments ($225,712) and 33.7 years for a down payment and five years of mortgage payments ($257,140). Virginia Median income for single person: $54,765 Yearly savings for 20% down payment: $8,721 How many years to save up down payment: 11.5 Virginians will need to save for 15.1 years to secure a down payment and one year of mortgage payments ($131,428), 18.7 years for the down payment and two years of mortgage payments ($162,856), 22.3 years for a down payment and three years of mortgage payments ($194,284), 25.9 years for the down payment and four years of mortgage payments ($225,712) and 29.5 years for a down payment and five years of mortgage payments ($257,140). Methodology: GOBankingRates first found median income for a single person (defined in the American Community Survey as 'non-family households') for each state, as sourced from the 2023 American Community Survey conducted by the U.S. Census Bureau. GOBankingRates then found the post-tax income for single people in each state using an in-house income tax calculator, assuming they were taking the standard deduction and using tax bracket data from the Tax Foundation. GOBankingRates then set the down payment at 20% and assumed a person would be following the 50/30/20 rule, where 20% of post-tax income goes toward savings and debt repayment. GOBankingRates then calculated how long it would take a single person in each state following the 50/30/20 rule to save for the down payment ($100,000) on a $500,000 home. All data was collected on and is up to date as of June 12, 2025. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 10 Unreliable SUVs To Stay Away From Buying How Far $750K Plus Social Security Goes in Retirement in Every US Region This article originally appeared on How Long Would It Take You To Save for a $500K Home on the East Coast? Solve the daily Crossword
Yahoo
7 minutes ago
- Yahoo
Alaskan man gifted new motorcycle by Putin during Trump summit
(Reuters) -A local man in Anchorage was given a new motorcycle by Russian President Vladimir Putin during last week's summit with U.S. President Donald Trump in the Alaskan city, according to a report published by Russian state television. An employee of the Russian embassy in the United States handed the man, Mark Warren, the keys to his new Ural motorcycle in the parking lot of the Anchorage hotel where the Russian delegation was staying. "I have to say that this is a personal gift from the President of the Russian Federation," Andrei Ledenev, the embassy employee, told Warren. The white-haired, bespectacled Warren, who Reuters was unable to contact for comment, was shown hopping aboard his new bike, Ledenev behind him and another man in the sidecar, to take it for a spin. "It's night and day," Warren said. "I like my old one, but this one is obviously much better." "I'm speechless, it's amazing. Thank you very much." The unexpected gift by the Russian leader came after reporters with Russian state television Channel 1 met Warren by chance on the streets of Anchorage ahead of the summit. The reporters stopped to admire Warren's bike, which is manufactured by Ural, whose original factory was founded in 1941 in what was then Soviet Russia. Warren told a reporter, Valentin Bogdanov, that he struggled to obtain spare parts for the bike, including a new starter, because the manufacturing plant is "located in Ukraine." "So for you, if they resolve this conflict here in Alaska, I mean Putin and Trump, it will be good?" Bogdanov asks Warren. "Yes, it will be good," the Alaskan replies. Ural, which is headquartered in Washington State, says that all of its motorcycles are assembled in Kazakhstan. The company pulled all its production out of Russia after the start of the full-scale war in Ukraine. Ural did not immediately reply to a request for comment outside working hours in the U.S.
Yahoo
7 minutes ago
- Yahoo
Trump tariffs live updates: US warns that India is 'cozying up' to Russia as Brussels tussles with Washington
White House trade advisor Peter Navarro said India's Russian oil buys are funding Moscow's war in Ukraine and must end, warning New Delhi is "cozying up" to Russia and China in an op-ed published Monday in the Financial Times. President Trump announced additional 25% tariffs on Indian goods earlier this month, citing New Delhi's continued purchases of Russian oil. The move will take total tariffs on imports from India to 50%. "If India wants to be treated as a strategic partner of the US, it needs to start acting like one." Meanwhile, the European Union is seeking to stop the US from challenging its digital rules as both sides finalize a delayed statement on a trade deal reached last month, the FT reported Sunday. EU officials said disputes over language on "non-tariff barriers," which Washington says include the digital rules have caused the delay. The US trade partners that believed they had worked out agreements with President Trump to avoid the harshest tariffs — such as the exemption for UK steel — are still waiting for their "deals" to be sealed, Bloomberg reports. And they're growing impatient as the tariffs' impact are beginning to have economic consequences. In other news, several major retailers will report earnings in the coming week, which may give a first glimpse into how President Trump's tariffs have affected their bottom lines. The list includes Walmart (WMT), Target (TGT) and Home Depot (HD). On Friday, Trump said he would unveil tariffs on semiconductor imports over the next couple of weeks as he prepares to expand his tariff agenda to different sectors. "I'll be setting tariffs next week and the week after on ... chips — chips and semiconductors," he told reporters. Tariffs have starting to show up in economic data for the first time in a significant way. Wholesale inflation surged in July, rising by its fastest pace in around three years and stunning market observers. So far, inflation data has shown little impact since Trump began rolling out sweeping duties in the spring. But as the tariffs become more engrained in the US economy, economists expect more data points to align with the Producer Price Index report — perhaps most notably in next month's Consumer Price Index. Earlier this month, Trump unveiled "reciprocal" tariffs on dozens of US trade partners (which you can see in the graphic below). The next negotiations to watch are Canada, Mexico, and China in the coming months. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. EU push to protect digital rules holds up trade statement with US The EU is pushing back against US efforts to challenge its digital rules as both sides work to finalize a delayed trade statement, the FT reported. Disputes over "non-tariff barriers," which Washington says include the EU's Digital Services Act, have stalled the announcement. The statement was expected soon after European Commission president Ursula von der Leyen and President Trump unveiled a tariff deal in Scotland on July 27. EU officials said the US wants room for concession on the act, but Brussels has called the rules a red line. The FT reports: Read more here. US adviser Navarro says India's Russian crude buying must stop Reuters reports: Read more here. Fewer fake firs, higher prices: China tariff delay does little to save the holidays The holiday season is fast approaching and US shoppers will now face fewer choices for fake Christmas trees and decorations. The price of these items has also gone up due to tariffs on Chinese imports as retailers scale back orders. Reuters reports: Read more here. China ramps up rare earth exports after fright for global buyers Bloomberg News reports: Read more here. US trade partners still waiting on Trump to seal their 'deals' US trade partners that worked out exemptions to President Trump's tariffs — like the UK's deal to reduce tariffs on its steel to zero — are still waiting for the agreements to be finalized months later, Bloomberg reports, and are growing frustrated. Read more here. Candidates at Iowa State Fair hear from voters about Trump tariffs (Bloomberg) — Republican Representative Zach Nunn is making an Iowa State Fair video about President Donald Trump's tax law, shot on a John Deere tractor under the blazing August sun. In it, Nunn, one of the nation's most vulnerable incumbents, talks to constituent Sarah Curry about how the expanded child tax credit will help with the cost of one child's speech therapy. Nunn is also planning to use the state fair as the backdrop for more videos selling the bill's provisions temporarily cutting taxes on tips and overtime. Economic issues — namely, Trump's tax package and his tariff war with countries that buy much of Iowa's agricultural products — will be front and center in Nunn's race, and he's eager to get a jumpstart defining the issues. So, too, are Democrats, who see Iowa's two swing districts as must-wins in their push to take back the House majority. Democrat Jennifer Konfrst, who is working to unseat Nunn, said she approaches Iowans at the fair asking them what keeps them up at night and the answer is usually 'costs.' Read more here. Tariffs' impact on Walmart, other retailers' earnings about to come into focus Several major retailers will report earnings this week, which may give a first glimpse into how President Trump's tariffs have affected their bottom lines. The list includes Walmart (WMT), Target (TGT), Home Depot (HD), Lowe's Companies (LOW) TJ Maxx parent TJX Companies (TJX) and Ross Stores (ROST). The Trump administration has urged retailers not to raise prices for consumers to offset the tariffs' impact, with a particular focus on Walmart, The Street reminds us: Read more here. Trump's trade war not likely to cause recession, Moody's economist says Economist Justin Begley of Moody's Analytics tells USA Today that President Trump's economic policies won't cause a recession or stagflation, but will likely slow growth and push up inflation. The economy isn't in stagflation yet, Begley said, "but it's edging that way," he adds: Read more here. Commerce department applies 50% steel, aluminum tariffs to more products (Reuters) -The Trump administration widened the reach of its 50% tariffs on steel and aluminum imports by adding hundreds of derivative products to the list of goods subject to the levies. In a Federal Register notice late on Friday, the Commerce Department said the Bureau of Industry and Security was adding 407 product codes to the Harmonized Tariff Schedule of the United States that identify the goods to be hit with the additional duties on the steel and aluminum content of those products. The non-steel and non-aluminum content will be subject to the tariff rates President Donald Trump has imposed on the goods originating from specific countries, the notice said. The levies on the goods on the expanded list go into effect on August 18. Read more here. Consumers' inflation expectations rise amid Trump tariffs Inflation expectations rose from July to August, indicating that consumers remain uncertain about President Trump's trade policies. Year-ahead inflation expectations increased to 4.9% from 4.5% last month, according to the University of Michigan's survey of consumers. Long-run inflation expectations also rose to 3.9% in August from 3.4% in July. "Overall, consumers are no longer bracing for the worst-case scenario for the economy feared in April when reciprocal tariffs were announced and then paused," Joanne Hsu, the university's Surveys of Consumers director, wrote. "However, consumers continue to expect both inflation and unemployment to deteriorate in the future." Consumer sentiment also deteriorated month over month, falling for the first time in four months. The University of Michigan's Consumer Sentiment Index fell to 58.6 from 61.7 a month ago. Read more here. US import prices rebound in July on higher consumer goods costs US import prices rebounded in July in the latest sign that inflation is set to pick up because of tariffs. Reuters reports: Read more here. Trump says semiconductor tariffs could reach 300% President Trump said Friday he is planning on unveiling tariffs on semiconductor imports over the next two weeks, hinting that those duties could reach as high as 300%. From Bloomberg: Read more here. Applied Materials' shares sink on weak China demand, tariff risks Shares in Applied Materials (AMAT) sank 14% before the bell on Friday after the chip equipment maker issued weak fourth-quarter forecasts on sluggish China demand, fueling concerns over tariff-related risks. Reuters reports: Read more here. China's economy lags in July under pressure from tariffs and a weak property market China's economy lagged in July as factory output and retails sales slowed and house prices dropped, according to data released on Friday. President Trump's tariffs have added to uncertainty on exports and are looming over the world's second-largest economy. Concerns linger despite Trump extending a pause in sharp hikes in import duties for 90 days, beginning Monday, following a 90-day pause that began in May. AP reports: Read more here. Taiwan lifts 2025 growth forecast, defying US tariff worries Bloomberg News reports: Read more here. These tariffs are bananas An interesting spot from this week's inflation data: Prices for the reliable, potassium-heavy banana have jumped to their highest price ever recorded. Banana prices peaked around $0.64 per pound in the post-COVID inflation wave and then went on a slow downward trajectory. That is, until April 2025, when President Trump announced his first wave of sweeping tariffs. Prices are now hovering near $0.66 per pound. As the Yale Budget Lab chief Ernie Tedeschi noted on X, the average tariff rate on banana imports went from virtually nothing to very much something as Trump imposed tariffs on most US trading partners. That's nuts! Tapestry forecasts annual profit below estimates on tariff pain Tapestry (TPR) stock fell 8% before the bell on Thursday after the Coach handbag maker forecast annual profit below estimates. The company cited higher costs due to tariffs that have hit its margins. Reuters reports: Read more here. Tariff confusion drives record volume at Los Angeles Port (Bloomberg) — The Port of Los Angeles said it handled the highest container volume in its 117-year history last month, as uncertainty over President Donald Trump's tariffs drives shippers to front-load cargoes. Already the busiest port in the country, LA moved more than 1 million twenty-foot equivalent units (TEUs) in July, an 8.5% increase from a year ago, the operator said on Wednesday. That includes containers entering and exiting its terminals, with loaded imports rising by a similar percentage to nearly 544,000 TEUs. The total volume handled was 14.2% higher than in June. Read more here. Pharma tariffs are likely weeks away, Reuters reports US tariffs on pharmaceutical imports are coming but not imminent, Reuters reported Wednesday, citing unnamed sources. Trump has previously warned duties on the drug industry could reach as much as 250%. Reuters reports: Read more here. Brazil's Lula announces $5.5 billion in credits for exporters hit by US tariffs Brazilinan President Luiz Inácio Lula da Silva has announced a plan that includes $5 billion in credit to help local exporters handle tariffs . Associated Press reports: Read more here. The EU is pushing back against US efforts to challenge its digital rules as both sides work to finalize a delayed trade statement, the FT reported. Disputes over "non-tariff barriers," which Washington says include the EU's Digital Services Act, have stalled the announcement. The statement was expected soon after European Commission president Ursula von der Leyen and President Trump unveiled a tariff deal in Scotland on July 27. EU officials said the US wants room for concession on the act, but Brussels has called the rules a red line. The FT reports: Read more here. Reuters reports: Read more here. Fewer fake firs, higher prices: China tariff delay does little to save the holidays The holiday season is fast approaching and US shoppers will now face fewer choices for fake Christmas trees and decorations. The price of these items has also gone up due to tariffs on Chinese imports as retailers scale back orders. Reuters reports: Read more here. The holiday season is fast approaching and US shoppers will now face fewer choices for fake Christmas trees and decorations. The price of these items has also gone up due to tariffs on Chinese imports as retailers scale back orders. Reuters reports: Read more here. China ramps up rare earth exports after fright for global buyers Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. US trade partners still waiting on Trump to seal their 'deals' US trade partners that worked out exemptions to President Trump's tariffs — like the UK's deal to reduce tariffs on its steel to zero — are still waiting for the agreements to be finalized months later, Bloomberg reports, and are growing frustrated. Read more here. US trade partners that worked out exemptions to President Trump's tariffs — like the UK's deal to reduce tariffs on its steel to zero — are still waiting for the agreements to be finalized months later, Bloomberg reports, and are growing frustrated. Read more here. Candidates at Iowa State Fair hear from voters about Trump tariffs (Bloomberg) — Republican Representative Zach Nunn is making an Iowa State Fair video about President Donald Trump's tax law, shot on a John Deere tractor under the blazing August sun. In it, Nunn, one of the nation's most vulnerable incumbents, talks to constituent Sarah Curry about how the expanded child tax credit will help with the cost of one child's speech therapy. Nunn is also planning to use the state fair as the backdrop for more videos selling the bill's provisions temporarily cutting taxes on tips and overtime. Economic issues — namely, Trump's tax package and his tariff war with countries that buy much of Iowa's agricultural products — will be front and center in Nunn's race, and he's eager to get a jumpstart defining the issues. So, too, are Democrats, who see Iowa's two swing districts as must-wins in their push to take back the House majority. Democrat Jennifer Konfrst, who is working to unseat Nunn, said she approaches Iowans at the fair asking them what keeps them up at night and the answer is usually 'costs.' Read more here. (Bloomberg) — Republican Representative Zach Nunn is making an Iowa State Fair video about President Donald Trump's tax law, shot on a John Deere tractor under the blazing August sun. In it, Nunn, one of the nation's most vulnerable incumbents, talks to constituent Sarah Curry about how the expanded child tax credit will help with the cost of one child's speech therapy. Nunn is also planning to use the state fair as the backdrop for more videos selling the bill's provisions temporarily cutting taxes on tips and overtime. Economic issues — namely, Trump's tax package and his tariff war with countries that buy much of Iowa's agricultural products — will be front and center in Nunn's race, and he's eager to get a jumpstart defining the issues. So, too, are Democrats, who see Iowa's two swing districts as must-wins in their push to take back the House majority. Democrat Jennifer Konfrst, who is working to unseat Nunn, said she approaches Iowans at the fair asking them what keeps them up at night and the answer is usually 'costs.' Read more here. Tariffs' impact on Walmart, other retailers' earnings about to come into focus Several major retailers will report earnings this week, which may give a first glimpse into how President Trump's tariffs have affected their bottom lines. The list includes Walmart (WMT), Target (TGT), Home Depot (HD), Lowe's Companies (LOW) TJ Maxx parent TJX Companies (TJX) and Ross Stores (ROST). The Trump administration has urged retailers not to raise prices for consumers to offset the tariffs' impact, with a particular focus on Walmart, The Street reminds us: Read more here. Several major retailers will report earnings this week, which may give a first glimpse into how President Trump's tariffs have affected their bottom lines. The list includes Walmart (WMT), Target (TGT), Home Depot (HD), Lowe's Companies (LOW) TJ Maxx parent TJX Companies (TJX) and Ross Stores (ROST). The Trump administration has urged retailers not to raise prices for consumers to offset the tariffs' impact, with a particular focus on Walmart, The Street reminds us: Read more here. Trump's trade war not likely to cause recession, Moody's economist says Economist Justin Begley of Moody's Analytics tells USA Today that President Trump's economic policies won't cause a recession or stagflation, but will likely slow growth and push up inflation. The economy isn't in stagflation yet, Begley said, "but it's edging that way," he adds: Read more here. Economist Justin Begley of Moody's Analytics tells USA Today that President Trump's economic policies won't cause a recession or stagflation, but will likely slow growth and push up inflation. The economy isn't in stagflation yet, Begley said, "but it's edging that way," he adds: Read more here. Commerce department applies 50% steel, aluminum tariffs to more products (Reuters) -The Trump administration widened the reach of its 50% tariffs on steel and aluminum imports by adding hundreds of derivative products to the list of goods subject to the levies. In a Federal Register notice late on Friday, the Commerce Department said the Bureau of Industry and Security was adding 407 product codes to the Harmonized Tariff Schedule of the United States that identify the goods to be hit with the additional duties on the steel and aluminum content of those products. The non-steel and non-aluminum content will be subject to the tariff rates President Donald Trump has imposed on the goods originating from specific countries, the notice said. The levies on the goods on the expanded list go into effect on August 18. Read more here. (Reuters) -The Trump administration widened the reach of its 50% tariffs on steel and aluminum imports by adding hundreds of derivative products to the list of goods subject to the levies. In a Federal Register notice late on Friday, the Commerce Department said the Bureau of Industry and Security was adding 407 product codes to the Harmonized Tariff Schedule of the United States that identify the goods to be hit with the additional duties on the steel and aluminum content of those products. The non-steel and non-aluminum content will be subject to the tariff rates President Donald Trump has imposed on the goods originating from specific countries, the notice said. The levies on the goods on the expanded list go into effect on August 18. Read more here. Consumers' inflation expectations rise amid Trump tariffs Inflation expectations rose from July to August, indicating that consumers remain uncertain about President Trump's trade policies. Year-ahead inflation expectations increased to 4.9% from 4.5% last month, according to the University of Michigan's survey of consumers. Long-run inflation expectations also rose to 3.9% in August from 3.4% in July. "Overall, consumers are no longer bracing for the worst-case scenario for the economy feared in April when reciprocal tariffs were announced and then paused," Joanne Hsu, the university's Surveys of Consumers director, wrote. "However, consumers continue to expect both inflation and unemployment to deteriorate in the future." Consumer sentiment also deteriorated month over month, falling for the first time in four months. The University of Michigan's Consumer Sentiment Index fell to 58.6 from 61.7 a month ago. Read more here. Inflation expectations rose from July to August, indicating that consumers remain uncertain about President Trump's trade policies. Year-ahead inflation expectations increased to 4.9% from 4.5% last month, according to the University of Michigan's survey of consumers. Long-run inflation expectations also rose to 3.9% in August from 3.4% in July. "Overall, consumers are no longer bracing for the worst-case scenario for the economy feared in April when reciprocal tariffs were announced and then paused," Joanne Hsu, the university's Surveys of Consumers director, wrote. "However, consumers continue to expect both inflation and unemployment to deteriorate in the future." Consumer sentiment also deteriorated month over month, falling for the first time in four months. The University of Michigan's Consumer Sentiment Index fell to 58.6 from 61.7 a month ago. Read more here. US import prices rebound in July on higher consumer goods costs US import prices rebounded in July in the latest sign that inflation is set to pick up because of tariffs. Reuters reports: Read more here. US import prices rebounded in July in the latest sign that inflation is set to pick up because of tariffs. Reuters reports: Read more here. Trump says semiconductor tariffs could reach 300% President Trump said Friday he is planning on unveiling tariffs on semiconductor imports over the next two weeks, hinting that those duties could reach as high as 300%. From Bloomberg: Read more here. President Trump said Friday he is planning on unveiling tariffs on semiconductor imports over the next two weeks, hinting that those duties could reach as high as 300%. From Bloomberg: Read more here. Applied Materials' shares sink on weak China demand, tariff risks Shares in Applied Materials (AMAT) sank 14% before the bell on Friday after the chip equipment maker issued weak fourth-quarter forecasts on sluggish China demand, fueling concerns over tariff-related risks. Reuters reports: Read more here. Shares in Applied Materials (AMAT) sank 14% before the bell on Friday after the chip equipment maker issued weak fourth-quarter forecasts on sluggish China demand, fueling concerns over tariff-related risks. Reuters reports: Read more here. China's economy lags in July under pressure from tariffs and a weak property market China's economy lagged in July as factory output and retails sales slowed and house prices dropped, according to data released on Friday. President Trump's tariffs have added to uncertainty on exports and are looming over the world's second-largest economy. Concerns linger despite Trump extending a pause in sharp hikes in import duties for 90 days, beginning Monday, following a 90-day pause that began in May. AP reports: Read more here. China's economy lagged in July as factory output and retails sales slowed and house prices dropped, according to data released on Friday. President Trump's tariffs have added to uncertainty on exports and are looming over the world's second-largest economy. Concerns linger despite Trump extending a pause in sharp hikes in import duties for 90 days, beginning Monday, following a 90-day pause that began in May. AP reports: Read more here. Taiwan lifts 2025 growth forecast, defying US tariff worries Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. These tariffs are bananas An interesting spot from this week's inflation data: Prices for the reliable, potassium-heavy banana have jumped to their highest price ever recorded. Banana prices peaked around $0.64 per pound in the post-COVID inflation wave and then went on a slow downward trajectory. That is, until April 2025, when President Trump announced his first wave of sweeping tariffs. Prices are now hovering near $0.66 per pound. As the Yale Budget Lab chief Ernie Tedeschi noted on X, the average tariff rate on banana imports went from virtually nothing to very much something as Trump imposed tariffs on most US trading partners. That's nuts! An interesting spot from this week's inflation data: Prices for the reliable, potassium-heavy banana have jumped to their highest price ever recorded. Banana prices peaked around $0.64 per pound in the post-COVID inflation wave and then went on a slow downward trajectory. That is, until April 2025, when President Trump announced his first wave of sweeping tariffs. Prices are now hovering near $0.66 per pound. As the Yale Budget Lab chief Ernie Tedeschi noted on X, the average tariff rate on banana imports went from virtually nothing to very much something as Trump imposed tariffs on most US trading partners. That's nuts! Tapestry forecasts annual profit below estimates on tariff pain Tapestry (TPR) stock fell 8% before the bell on Thursday after the Coach handbag maker forecast annual profit below estimates. The company cited higher costs due to tariffs that have hit its margins. Reuters reports: Read more here. Tapestry (TPR) stock fell 8% before the bell on Thursday after the Coach handbag maker forecast annual profit below estimates. The company cited higher costs due to tariffs that have hit its margins. Reuters reports: Read more here. Tariff confusion drives record volume at Los Angeles Port (Bloomberg) — The Port of Los Angeles said it handled the highest container volume in its 117-year history last month, as uncertainty over President Donald Trump's tariffs drives shippers to front-load cargoes. Already the busiest port in the country, LA moved more than 1 million twenty-foot equivalent units (TEUs) in July, an 8.5% increase from a year ago, the operator said on Wednesday. That includes containers entering and exiting its terminals, with loaded imports rising by a similar percentage to nearly 544,000 TEUs. The total volume handled was 14.2% higher than in June. Read more here. (Bloomberg) — The Port of Los Angeles said it handled the highest container volume in its 117-year history last month, as uncertainty over President Donald Trump's tariffs drives shippers to front-load cargoes. Already the busiest port in the country, LA moved more than 1 million twenty-foot equivalent units (TEUs) in July, an 8.5% increase from a year ago, the operator said on Wednesday. That includes containers entering and exiting its terminals, with loaded imports rising by a similar percentage to nearly 544,000 TEUs. The total volume handled was 14.2% higher than in June. Read more here. Pharma tariffs are likely weeks away, Reuters reports US tariffs on pharmaceutical imports are coming but not imminent, Reuters reported Wednesday, citing unnamed sources. Trump has previously warned duties on the drug industry could reach as much as 250%. Reuters reports: Read more here. US tariffs on pharmaceutical imports are coming but not imminent, Reuters reported Wednesday, citing unnamed sources. Trump has previously warned duties on the drug industry could reach as much as 250%. Reuters reports: Read more here. Brazil's Lula announces $5.5 billion in credits for exporters hit by US tariffs Brazilinan President Luiz Inácio Lula da Silva has announced a plan that includes $5 billion in credit to help local exporters handle tariffs . Associated Press reports: Read more here. Brazilinan President Luiz Inácio Lula da Silva has announced a plan that includes $5 billion in credit to help local exporters handle tariffs . Associated Press reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
