How the US Became the Apex Predator on Trade
The glory days of supply chains must seem like a prehistoric time to the countries that lined up to concede to White House demands for levies. Certainly a throw-back to an earlier, less prosperous, age: The overall level of US tariffs is now the highest since 1930s, according to Bloomberg Economics. Japanese Prime Minister Shigeru Ishiba was once adamant he would never accept duties, especially on autos, but concluded he could live with a 15% penalty. The European Union's top official, Ursula von der Leyen, on Sunday said the 15% rate the bloc settled on with President Donald Trump was the best she could manage.
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San Francisco Chronicle
5 minutes ago
- San Francisco Chronicle
More American couples are turning to Italy's 'dolce vita' in a quest for memorable weddings
FLORENCE, Italy (AP) — James Atkinson and Samantha Fortino toured a Tuscan vineyard and learned to make pasta and a Bolognese sauce alongside their family and friends in Florence. Atkinson discovered a penchant for chianti, while Fortino fell for Italy's hugo spritz — a cocktail that posed no risk of staining her wedding dress on July 24. Italy has hosted a number of star-studded weddings in the past decade, most recently Jeff Bezos and Lauren Sánchez 's extravaganza in Venice. Away from the spotlight, tens of thousands of ordinary Americans have set their sights on the country for their special day in recent years. 'Weddings in America can be a little too grand and a little bit too big and it ends up not really being about the couple,' said Fortino, 28, a neonatal nurse from Skaneateles, New York. 'We both just really wanted something intimate and meaningful.' Over 15,000 foreign couples wed in Italy last year, up 64% from 2019, the year before the pandemic, according to market research from the Center of Tourist Studies of Florence. Growth was led by U.S couples, who account for almost one-third of that total. Italy was the top international destination for American couples after Mexico, according to Maryland-based wedding planning website The Knot. For many Americans, Italy embodies the simple, beautiful romance of a bygone era. Weather is balmy and its varied landscapes, from the sea to the mountains, stunning. The food is familiar and crowd-pleasing. But perhaps the biggest driver of the recent uptick is ample opportunity for a range of outings, which together with the wedding event are alluring for those on a quest for unique, memorable moments — part of a consumer trend termed 'the experience economy.' 'In the United States, everything is just more expensive for one night and we wanted to make an experience, so we did two nights here," said Atkinson, 31, who owns a concrete company. 'It just seemed like way more worth it to us to do that and make a trip out of it with our family, our loved ones.' 'Nobody cancels' One guest who had never visited Italy was ecstatic about the invite, and took advantage to tack on side trips, first to Venice and then with the wedding crew to Cinque Terre. Another, Gary Prochna, nearly didn't attend because of work piling up at his paving company. He eventually came around and was floored by the venue — a 15th-century villa with a sweeping view over Florence and its famous Duomo. 'I got married in the United States and our venue was very nice. I thought — until this moment — we had the best wedding,' said Prochna, 68, adding that he now hopes his daughters will get hitched abroad. Marcy Blum, a prominent luxury event planner based in Manhattan, said almost 90% of the weddings she plans are in Italy. 'The reason Italy is so popular is because that's where your guests want to go,' she said. "You send an invitation that you're getting married in Capri or Positano and everybody comes. Everybody. They want to come. Nobody cancels.' Jack Ezon, CEO of Embark Beyond, a luxury travel and destination event service also based in Manhattan, said 60% of his company's events were outside the U.S. before the pandemic. Today it's almost 90%, nearly all split evenly between Italy and France. The threat of tariffs under President Donald Trump has given destination weddings a boost. Ezon has moved six events from the U.S. to Europe this year, because people were afraid tariffs on alcohol would cause their bar bill to explode. The shift to destinations has benefited planners with networks across Italy and local vendors. According to Wedding Italy, the husband-and-wife team who put on the Atkinson wedding, American clients spend three times as much as Italians, due to more elaborate wedding decor and other events in their multi-day lineup. Average spend on hometown weddings in the U.S. was $32,000 last year, according to The Knot. By comparison, foreigners' weddings in Italy cost an average 61,500 euros ($70,600) and typically have dozens fewer guests, the Center of Tourist Studies of Florence's data showed. In the garden where the Atkinsons held their service, cypress trees swayed in the wind as the bride emerged from the chapel, beaming in her lace mermaid-silhouette gown. She walked down the aisle as speakers played the theme song to Star Wars. It was her sneaky trick to make the groom cry, and it worked like a charm.
Axios
5 minutes ago
- Axios
Trump's 35% tariffs on Canada take effect as trade talks deadline lapses
President Trump's tariffs order for countries yet to strike a trade deal with the U.S. went into effect just after midnight on Friday, though most levies aren't due to start until Aug. 7. Why it matters: While countries like Mexico struck trade deal extensions ahead of Trump's deadline, others face steep tariffs. The president increased Some Canadian goods imported to the U.S. on Thursday to 35%, effective 12:01am Friday ET. An appeals court is now considering the legality of the tariffs, and the judges have indicated they're wary of the Trump administration's argument that global trade imbalances amounted to a national emergency. Zoom in: Canadian Prime Minister Mark Carney said Wednesday he had expected trade talks to continue beyond the deadline, but his pledge to recognize Palestinian statehood prompted Trump to say it "will make it very hard for us to make a Trade Deal" with the North American neighbor. Trump said at a Thursday briefing he "didn't like" Carney's plans, but it's "not a deal-breaker." He told NBC News late Thursday that he hadn't spoken with Carney but didn't plan to strike a deal before the deadline. The reason a White House fact sheet gave on the tariffs was the Trump administration's belief that Canadian officials had "failed to cooperate in curbing" the flow of drugs into the U.S. from the border. The U.S.-Mexico-Canada Agreement (USMCA) on trade is exempt from the tariffs hike. The latest: Carney said in a statement early Friday that pledged to continue negotiating with the Trump administration that the USMCA exemption meant that "the average U.S. tariff rate on Canadian goods remains one of the lowest for all of its trading partners." His statement that was posted to his social media channels noted that Canada accounts for 1% of U.S. fentanyl imports and that Canadian officials were working to further reduce this and the country's government was making "historic investments" in border security. State of play: Trump made a series of trade deals in the leadup to the Aug. 1 deadline, including with the European Union, the U.K. and Japan. Despite the deadline date, many of the tariffs will become effective seven days after Trump's July 31 order. Some nations got substantially lowered rates versus what was first announced in April. Trump confirmed Thursday that imports from most nations would face a baseline tariff rate of 10%, but he increased the levy of close trading partner Canada to 35% as threatened.
Hamilton Spectator
5 minutes ago
- Hamilton Spectator
More American couples are turning to Italy's ‘dolce vita' in a quest for memorable weddings
FLORENCE, Italy (AP) — James Atkinson and Samantha Fortino toured a Tuscan vineyard and learned to make pasta and a Bolognese sauce alongside their family and friends in Florence. Atkinson discovered a penchant for chianti, while Fortino fell for Italy's hugo spritz — a cocktail that posed no risk of staining her wedding dress on July 24. Italy has hosted a number of star-studded weddings in the past decade, most recently Jeff Bezos and Lauren Sánchez 's extravaganza in Venice. Away from the spotlight, tens of thousands of ordinary Americans have set their sights on the country for their special day in recent years. 'Weddings in America can be a little too grand and a little bit too big and it ends up not really being about the couple,' said Fortino, 28, a neonatal nurse from Skaneateles, New York. 'We both just really wanted something intimate and meaningful.' Over 15,000 foreign couples wed in Italy last year, up 64% from 2019, the year before the pandemic, according to market research from the Center of Tourist Studies of Florence. Growth was led by U.S couples, who account for almost one-third of that total. Italy was the top international destination for American couples after Mexico, according to Maryland-based wedding planning website The Knot. For many Americans, Italy embodies the simple, beautiful romance of a bygone era. Weather is balmy and its varied landscapes, from the sea to the mountains, stunning. The food is familiar and crowd-pleasing. But perhaps the biggest driver of the recent uptick is ample opportunity for a range of outings, which together with the wedding event are alluring for those on a quest for unique, memorable moments — part of a consumer trend termed 'the experience economy.' 'In the United States, everything is just more expensive for one night and we wanted to make an experience, so we did two nights here,' said Atkinson, 31, who owns a concrete company. 'It just seemed like way more worth it to us to do that and make a trip out of it with our family, our loved ones.' 'Nobody cancels' One guest who had never visited Italy was ecstatic about the invite, and took advantage to tack on side trips, first to Venice and then with the wedding crew to Cinque Terre. Another, Gary Prochna, nearly didn't attend because of work piling up at his paving company. He eventually came around and was floored by the venue — a 15th-century villa with a sweeping view over Florence and its famous Duomo. 'I got married in the United States and our venue was very nice. I thought — until this moment — we had the best wedding,' said Prochna, 68, adding that he now hopes his daughters will get hitched abroad. Marcy Blum, a prominent luxury event planner based in Manhattan, said almost 90% of the weddings she plans are in Italy. 'The reason Italy is so popular is because that's where your guests want to go,' she said. 'You send an invitation that you're getting married in Capri or Positano and everybody comes. Everybody. They want to come. Nobody cancels.' Jack Ezon, CEO of Embark Beyond, a luxury travel and destination event service also based in Manhattan, said 60% of his company's events were outside the U.S. before the pandemic. Today it's almost 90%, nearly all split evenly between Italy and France. The threat of tariffs under President Donald Trump has given destination weddings a boost. Ezon has moved six events from the U.S. to Europe this year, because people were afraid tariffs on alcohol would cause their bar bill to explode. Cost comparison The shift to destinations has benefited planners with networks across Italy and local vendors. According to Wedding Italy, the husband-and-wife team who put on the Atkinson wedding, American clients spend three times as much as Italians, due to more elaborate wedding decor and other events in their multi-day lineup. Average spend on hometown weddings in the U.S. was $32,000 last year, according to The Knot. By comparison, foreigners' weddings in Italy cost an average 61,500 euros ($70,600) and typically have dozens fewer guests, the Center of Tourist Studies of Florence's data showed. In the garden where the Atkinsons held their service, cypress trees swayed in the wind as the bride emerged from the chapel, beaming in her lace mermaid-silhouette gown. She walked down the aisle as speakers played the theme song to Star Wars. It was her sneaky trick to make the groom cry, and it worked like a charm. Before the exchange of rings, before the lovebirds threw their arms around one another, their officiant said: 'Traditionally I would ask: Is there any reason why this couple shouldn't be married? But for goodness' sake – we all flew to Italy and can't get our points back! So instead I'll ask: Who here approves of this union?' Cheers all around. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
