DHL won't deliver some packages to the U.S. because of tariffs
DHL is suspending high-value shipments to the U.S. beginning Monday due to new restrictions on imports, according to The Wall Street Journal.
U.S. Customs regulations now require goods above $800 in value to undergo more rigorous customs processing, which took effect April 5, DHL said. The previous threshold was $2,500.
DHL, which is a division of Germany-based Deutsche Post, said in a statement reported by The Journal that a 'surge in formal customs clearances, which we are handling around the clock' may cause delays of multiple days. To manage them, the company said that until further notice it 'will temporarily suspend [business-to-consumer] shipments to private individuals in the U.S. where the declared value exceeds $800.'
The move does not affect business-to-business shipments, but those goods could face delays, DHL said. Shipments to either businesses or consumers valued at less than $800 will not be affected.
The decision is the latest disruption caused by the U.S.'s new trade policies under President Donald Trump. Last week, Hong Kong's postal service announced it was suspending shipments to the U.S. 'The U.S. is unreasonable, bullying and imposing tariffs abusively,' Hongkong Post said Wednesday. 'Hongkong Post will definitely not collect any so-called tariffs on behalf of the U.S. and will suspend the acceptance of postal items containing goods destined to the U.S.'
Trump announced tariffs as high as 145% on Chinese imports earlier this month. In response, China installed 125% tariffs on U.S. goods. Imports from all countries have been hit with a minimum base tariff of 10%, with many extending much higher.
Last week, Fed Chair Jerome Powell said tariffs are highly likely to fuel further inflation.
'The level of the tariff increases announced so far is significantly larger than anticipated,' he said. 'The same is likely to be true of the economic effects, which will include higher inflation and slower growth.'
For the latest news, Facebook, Twitter and Instagram.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 minutes ago
- Yahoo
Trump's ‘Big Beautiful Bill' Would Slash Medicare & SNAP: 3 Moves Retirees Should Make Now
President Donald Trump's 'one big beautiful bill' has passed in the House and is now awaiting Senate approval. If passed, Trump's signature bill would extend the tax cuts granted by the 2017 Tax Cuts and Jobs Act and add additional tax cuts. While this might be welcome news to many, the bill also includes changes to Medicaid and the Supplemental Nutrition Assistance Program (SNAP) that could threaten seniors' access to these programs. Find Out: Read Next: 'The 'one big beautiful bill' passed by the House of Representatives, if it were passed into law today, would cut Medicaid and SNAP by a combined $1 trillion,' said Chris Orestis, president of Retirement Genius. 'In addition, because of the increase to federal debt of as much as $5 trillion, the bill would trigger an automatic reduction in Medicare funding of $500 billion,' he continued. 'This would represent the largest cut to social services and health insurance for the poor, disabled, children and the elderly in U.S. history.' Here's a look at the changes retirees can make now to secure care and avoid benefit disruptions if the bill were to pass. Before changes go into effect, check with your healthcare providers to ensure there won't be any interruption to your care if there are cuts to Medicaid. 'Check with your healthcare provider to see if they might cut back on services or cease accepting Medicaid-funded patients, and contact any nursing home where you or a loved one may reside to find out if they will be reducing the number of patients they can support — or even [if they are] possibly planning to close,' Orestis said. Knowing this ahead of time will allow you to find alternative care providers before it's too late. Learn More: If you are reliant on SNAP, start searching for alternatives that may be able to provide food assistance in the event your benefits are reduced or cut. 'Make sure you know where there are local support services through community or faith-based organizations to replace lost access through SNAP,' Orestis said. Many retirees plan to 'spend down' their savings so that they qualify for Medicaid to pay for their long-term care. However, this may no longer be a viable option. 'If you are considering going onto Medicaid for long-term care and are preparing to engage the 'spend down' process to impoverish yourself and get below the poverty level to qualify, you may want to reconsider that strategy, and instead look to leverage private pay resources to pay for your care,' Orestis said. 'If you are on Medicaid, you will primarily be reliant on nursing homes for your care, and their ability to withstand these cuts will be very challenging and up in the air,' he continued. 'If you are private pay, you are in control and can decide where and when you will receive care, such as at home or an assisted living community not funded by Medicaid.' Strategies to stay private pay for long-term care would include long-term care insurance, annuities, a life insurance settlement, a reverse mortgage or VA benefits. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates 7 Things You'll Be Happy You Downsized in Retirement This article originally appeared on Trump's 'Big Beautiful Bill' Would Slash Medicare & SNAP: 3 Moves Retirees Should Make Now
Yahoo
13 minutes ago
- Yahoo
Elon Musk's feud with Trump likely won't blow up Tesla's robotaxi push, analysts say
Elon Musk's relationship with President Donald Trump imploded in a series of social media posts. Tesla's stock took a 14% dip on Thursday before it recovered some of the losses. Analysts said the feud won't have lasting impacts on Tesla's business, including robotaxis. Elon Musk's public sparring with President Donald Trump last week may have briefly put a dent in Tesla's value, but analysts say they can't see any reason the feud would have a long-term impact on the company's business, including its robotaxi ambitions. The feud between Musk and Trump began with the Tesla CEO's criticism of the GOP's spending bill, which slashes EV tax credits and is estimated to add more than $2.4 trillion to the national deficit. The clash then escalated with threats coming from both sides: Trump threatened to cancel government contracts with Musk's companies, and the CEO fired back by saying he'd shut down SpaceX's Dragon spacecraft before reneging. During Musk's fight with Trump on Thursday, Tesla's stock dipped 14%, wiping out $138 billion from the company's market cap. The company recovered some of the losses the following day. Yet the CEO saw one of his biggest single-day hits to his net worth with an estimated $34 billion loss. Still, some analysts say this storm will pass. "Musk's and Trump's relationship has an impact on the stock and maybe investor sentiment, but as far as the actual business impact for Tesla, I never thought Trump getting elected was positive or that negative for Tesla," Seth Goldstein, Morningstar analyst, told Business Insider. "So with the feud that started between Trump and Musk, I never really viewed that as that positive or negative for Tesla either." While it may not be helpful to no longer be in Trump's good graces, Goldstein said the president has already made clear that he would cut EV subsidies, which the analyst viewed as having the most negative impact not just on Tesla but on all EV makers. Gene Munster, Tesla investor and managing partner at Deepwater Asset Management, estimated in a Friday report that the elimination of the tax credits could reduce 2025 deliveries by 15%. As far as Tesla's June robotaxi launch in Austin goes, which Musk says will unlock trillions of dollars of market value for his company, analysts say there's little reason to believe the administration would want to hinder progress there. "In my view, the White House has little to gain in standing in front of autonomy, given autonomy is central to physical AI, and for the US to be a leader globally in AI, it also needs to be a leader in physical AI," Munster said in his Friday report. "The bottom line, I expect cooler heads to prevail and the Federal Government will continue to support the growth of these services." Goldstein told BI that he doesn't see many avenues the administration could take to hinder Tesla's robotaxi progress. He said the Department of Transportation is reviewing federal standards for autonomous vehicle safety. "In theory, if Trump wanted to see Musk face retaliation and target Tesla, they could, say, require autonomous vehicles to have lidar in order to be approved by the federal government for operation, but I don't think they're going to get that detailed," Goldstein said. "I think that Trump could more easily just target SpaceX by just cutting their contracts if he really wanted to hurt Elon, versus making some really weird, nuanced policy." Spokespeople for the DOT and the White House did not respond to a request for comment. In a note on Friday, Morgan Stanley analyst Adam Jonas wrote that Musk's feud with Trump doesn't impact the "longer-term vectors that drive the stock's value." "AI leadership, autonomy/robotics, manufacturing, supply chain re-architecture, renewable power, critical infrastructure... Tesla still holds so many valuable cards that are largely apolitical, in our opinion," Jonas wrote. By late Friday afternoon, the online jabs had slowed down, but the Trump-Musk alliance remained on ice. The president told NBC News on Saturday that he doesn't expect to mend his relationship with Musk and warned the CEO against supporting Democratic candidates. Still, during a press gaggle on Air Force One on Friday, Trump said he hadn't thought about Musk but wished him and his company well. "I mean, I hope he does well with Tesla," Trump said. A spokesperson for Tesla did not respond to a request for comment. Read the original article on Business Insider
Yahoo
19 minutes ago
- Yahoo
Aldi summer price cuts: Up to 33% off 400+ items
Aldi is renewing what has become an annual summer tradition: cutting prices on hundreds of seasonal products. The Germany-based discount grocery chain said it will be reducing prices on nearly 25% of its products – more than 400 items including meat and produce – at its more than 2,400 stores. Prices will be reduced as much as 33% on the 400+ products over the summer, Aldi chief commercial officer Scott Patton told USA TODAY. Nearly one in four households shop at Aldi stores, he said, citing Circana data. Aldi's move comes as about two-thirds of Americans (67%) said they remained very concerned about food and consumer goods prices, according to a Pew Research Center survey of 3,589 adults in April. "Summer's for grilling out, camping, concerts, and quality time with friends and family – not stressing over grocery bills," he said. "That's why we decided to offer even lower prices on ALDI favorites all summer long. Our unique business model with smaller store footprints, 90% private brands and strong supplier partnerships means we can deliver real savings where other grocers can't." Starbucks: Upcoming coffee competition draws top baristas for latte art, blind tasting challenges Aldi, which plans to open 225 more stores in the U.S. this year, said its price cuts – kicking in June 5 through Labor Day – will likely save shoppers about $100 million – similar to the amount of money shoppers collectively saved with its reductions last year and more than the $60 million saved in 2023. "Last year's shopper response was overwhelming. Our customers loved it because they could stock up on summer staples without stretching their budgets," Patton said. "Aldi has always been known for quality at low prices, and when we can deliver even more savings for our shoppers, we do." Clancy's: Chili Lime Potato Chips - was $1.89, is now $1.79. Friendly Farms: 2% Ultra-Filtered Milk – was $4.39, is now $3.89. Millville: Protein Pancake Mix – was $3.79, is now $3.49. Mama Cozzi's: Mini Pizza Bagels – was $6.29, is now $5.99. Summit: Popz Prebiotic Soda - was $1.59, is now $1.49. Mike Snider is a reporter on USA TODAY's Trending team. You can follow him on Threads, Bluesky, X and email him at mikegsnider & @ & @mikesnider & msnider@ What's everyone talking about? Sign up for our trending newsletter to get the latest news of the day This article originally appeared on USA TODAY: Aldi summer price cuts: Up to 33% off 400+ items
