Ukraine's customs service reveals how many drones Ukraine has imported
Ukraine has imported US$232.3 million worth of drones and US$43.4 million of drone components in the first two months of 2025.
Source: Ukraine's State Customs Service, as reported by Ukrinform news agency
Details: In January and February 2025, Ukraine imported 297 tonnes of unmanned aerial vehicles, totaling US$232.36 million.
Additionally, during the same period, goods classified under code 8807, which covers "parts of aircraft under commodity positions 8801, 8802, or 8806", were imported for US$43.42 million.
According to the State Customs Service, Ukraine imported US$1.17 billion worth of drones last year, while imports of drone components amounted to US$134.8 million.
In 2023, drone and component imports totaled US$440.7 million and US$16.86 million, respectively.
Background: One of Ukraine's largest FPV drone manufacturers, Vyriy Drone, has unveiled its first serial batch of fully domestically produced drones.
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Yahoo
38 minutes ago
- Yahoo
Deal gets US-China trade truce back on track: Trump
A deal getting the fragile truce in the US-China trade war back on track is done, US President Donald Trump says after negotiators from the United States and China agreed on a framework covering tariff rates. The deal also removes Chinese export restrictions on rare earth minerals and allows Chinese students access to US universities. Trump took to his social media platform to offer some of the first details to emerge from two days of marathon talks held in London that had, in the words of US Commerce Secretary Howard Lutnick, put "meat on the bones" of an agreement reached last month in Geneva to ease bilateral retaliatory tariffs that had reached crushing triple-digit levels. "Our deal with China is done, subject to final approval with President Xi (Jinping) and me," Trump said on the Truth Social platform. "Full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!). We are getting a total of 55 per cent tariffs, China is getting 10 per cent." It was fantastic to team up with Secretary Scott Bessent and Ambassador Jamieson Greer. World-class team delivering world-class results for America. — Howard Lutnick (@howardlutnick) June 11, 2025 A White House official said the 55 per cent represents the sum of a baseline 10 per cent "reciprocal" tariff Trump has imposed on goods imported from nearly all US trading partners; 20 per cent on all Chinese imports because of punitive measures Trump has imposed on China, Mexico and Canada associated with his accusation that the three facilitate the flow of the opioid fentanyl into the US; and finally pre-existing 25 per cent levies on imports from China that were put in place during Trump's first term in the White House. Lutnick said the 55 per cent rate for Chinese imports is now fixed and unalterable. Asked on Wednesday on CNBC if the tariff levels on China would not change, he said: "You can definitely say that." Still, many specifics of the deal and details for how it would be implemented remain unclear. Officials from the two superpowers had gathered at a rushed meeting in London starting on Monday following a call last week between Trump and Chinese leader Xi that broke a stand-off that had developed just weeks after a preliminary deal reached in Geneva that had defused their trade row. The Geneva deal had faltered over China's continued curbs on critical minerals exports, prompting the Trump administration to respond with export controls preventing shipments of semiconductor design software, aircraft and other goods to China. Lutnick said the agreement reached in London would remove restrictions on Chinese exports of rare earth minerals and magnets and some of the recent US export restrictions "in a balanced way" but did not provide details after the talks concluded around midnight London time. "We have reached a framework to implement the Geneva consensus and the call between the two presidents," Lutnick said, adding that both sides will now return to present the framework to their respective presidents for approvals. "And if that is approved, we will then implement the framework," he said. In a separate briefing, China's Vice Commerce Minister Li Chenggang also said a trade framework had been reached in principle that would be taken back to US and Chinese leaders.
Yahoo
an hour ago
- Yahoo
Could the Fed be 'the real issue' for the economy amid tariffs?
President Trump has characterized trade negotiations with Chinese officials as being "not easy" as the two countries renew negotiations following a phone call between Trump and China's President Xi Jinping last week. Infrastructure Capital Advisors CEO and CIO Jay Hatfield comes on to talk about the impacts of tariffs on markets (^DJI, ^IXIC, ^GSPC) as the Federal Reserve contributes additional economic pressures. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. Well, tech stocks leading the market rally once again, as the possibility of easing trade tensions lifts investor sentiment. President Trump saying China is quote, "not easy," as talks are set to resume today. Would a rift in the fragile US-China relationship derail the rally? Joining me now, we've got J. Hatfield, Infrastructure Capital Advisors CEO and chief investment officer. J, it's always great to speak with you. Talk to me about how you are viewing or potentially pricing a risk of these trade talks getting derailed. Thanks, Mandy. It's great to be on. Well, we have a completely non-consensus call that the, uh, all the trade talks, obviously China's the most important, but as a whole, are not that critical to the US economy. It's about 10% of the US economy. Um, the effective rates gonna be somewhere, probably between 10 and 15. That's less than a half percent of GDP. And meanwhile, energy prices, they were down 20, they're down about 15. That's a much more important driver of inflation. So, we're bullish. Inflation is going to come down, even tomorrow. We're forecasting below consensus. And so, we think that, although it's been the key driver this quarter, uh, earnings are going to be more important next quarter. So we're projecting a summer power rally. So, talk to me about the biggest risk to your outlook then. Is it that tariffs have a bigger impact than anticipated? Is it corporations holding off on hiring CapEx, and that leading to a slowdown? Like, where would you see the risks to that outlook? Well, everybody's focused on tariffs and how that's slowing the economy, but nobody's focused on the fact that the Fed has ultra-tight monetary policy. They're actually shrinking the money supply, which is very dangerous. They did that before the great financial crisis. Um, normally it grows at 5, it's shrinking at 1. So the real issue, so I agree with the president, which I don't always agree with him, but that the real issue is the Fed. They're slowing the housing market. It hasn't crashed because there's a shortage of housing. So I'd see the key risk is the Fed remains on hold because they're incapable of forecasting inflation, focused way too much on the expectations theory of inflation, which has been discredited, and failed to realize that tariffs even are a one-time cost. Should be analyzed as sales tax and ignored for inflation purposes. So, the three top risks to the market are the Fed, the Fed, and the Fed. So, it's it's a great overview, J, because you see the power rally coming, but the Fed could potentially derail it in your view. How should investors be positioned then to benefit from that, while also staying diversified to prevent against any, uh, potential downside risk? Well, our scenario is, so we're bullish about bonds and stocks. Our scenario assumes that the labor market continues to slow, and even though this Fed has zero ability to forecast inflation, they are obsessed with the labor market. They're almost all Keynesians, so they're all believe the labor market drives everything. We strongly disagree with that, but that's what they believe. So, we think this deceleration will continue. Inflation will continue to be, really low if you correct for shelter and that they will cut. So, we you know, we don't give like probabilities of this and that, and probability that an asteroid will destroy South America. We have a base case, we're going to stick to the base case. So we think that, uh, the number of cuts will be two to three, rates will come down, and we will get to the 6,600, which is 22 times next year's earnings. So what's the best way to benefit from that then, J? Well, we, um, are, uh, are recommending stocks that tend to be higher on the risk spectrum. So, financials, so like Goldman Sachs, Morgan Stanley, we think the private equity firms like KKR are a great way to play it. Uh, REITs, so uh, and industrials. So be on the risk side, don't be in McDonald's and Philip Morris, and Coke, because you're worried about a recession. We don't think there's going to be a recession, think rates are coming down. So we'd be aggressive on the picks and and go into companies that benefit from a booming stock market, or at least a increase in stock market, likely investment banks. J, always great to get your thoughts. Thanks so much. Thanks, Mandy.
Yahoo
an hour ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq rally pauses as cool inflation data boosts Fed rate cut hopes
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This marked the latest sign that markets have moved on from President Trump's trade war dictating every market move. Instead, focus is shifting back to the Federal Reserve and the path of the US economy. "For some period of time, tariffs were the only thing that mattered," Truist Co-CIO Keith Lerner told Yahoo Finance on Wednesday. "And I think we're finding out today a lot of other factors matter." And for now, economists argue the economic picture may be improving. "Combined with the solid May jobs report, the CPI data reduce the chances of a nasty bout of stagflation," Bank of America US economist Stephen Juneau wrote in a note to clients on Wednesday. "That means a lower risk of "bad" cuts (due to a collapse in the labor market) but increased probability of "good" cuts (solid labor market and slowing inflation)." 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On a month-over-month basis, prices increased 0.1%, lower than the 0.2% estimated by economists and the 0.2% increase seen in April. On a "core" basis, which strips out the more volatile costs of food and gas, prices in April climbed 0.1% over the prior month, lower than April's 0.2% rise and below consensus projections for a 0.3% increase. Over the last year, core prices rose 2.8%, unchanged from the prior month and below Wall Street's expectations for a 2.9% increase. The largest tech stocks in the market are once again leading the market higher. And in recent weeks, investor excitement surrounding Big Tech has trickled down to newly issued public offerings, such as stablecoin issuer Circle (CRCL) and Nvidia-baked CoreWeave (CRWV). Yahoo Finance's Josh Schafer writes in today's Morning Brief: Read more here. 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The US video game retailer announced net sales of $732.4M, down from $881.8M in the same period of 2024. Tesla (TSLA) stock rose 1% in premarket trading, after CEO Elon Musk backtracked on his comments towards President Trump. Musk said: 'I regret some of my posts about President @realDonaldTrump last week,' he said on his social-media platform, X. 'They went too far.' Victoria Secret's (VSCO) shares rose by 1% ahead of its earnings release on Wednesday. The retailer, which recently reported a cyberattack, is expected by analysts to reoort revenue of around $1.35B. Yahoo Finance's Allie Canal reports: Read more here. Gold prices are edging higher even after the US and China talks delivered a plan to ease trade tensions, a sign the market is not yet convinced of a breakthrough. Futures rose 0.7% to around $3,366 an ounce in early trading on Wednesday. Bloomberg reported: Read more here.