Tariffs Are No Longer Just About Trade
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Packers report a record $432.6 million in revenue sharing
Packers president Mark Murphy presented his final annual financial report Wednesday, reporting the team's national revenue sharing from the previous fiscal year was a record $432.6 million. The NFL's revenue sharing 18 years ago — when Murphy gave his first report — was $138 million per team, Rob Demovsky of ESPN reports. The revelation by the league's only publicly owned team means the NFL shared a record $13.8 billion in revenue from the previous fiscal year. "I continue to be amazed by the popularity of the NFL and by the league office's ability to generate revenue," Murphy said, via Demovsky. "It's impressive." National revenue makes up about 60 percent of the Packers' total revenue, Murphy said. The Packers reported an $83.7 million operating profit for the fiscal year ending March 31. That is a $23.6 million increase from the previous year's $60.1 million operating profit, a rise related to one more home game in 2024 than the eight in 2023. "It was a successful year for the organization," Murphy said. "The NFL's popularity and success continues to set the stage for our club to do well, which puts us in position to continue to invest in the team and the stadium." During Murphy's tenure, the Packers have invested $675 million into Lambeau Field and the team's facilities, including the unveiling of a renovated locker room this week.
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Cotton Comes Back to Close Steady
Cotton futures faded back off the midday gains on Wednesday, closing with mixed action of 3 points higher to a point lower. Crude oil futures were down 79 cents on the session. The US dollar index was weaker, down $0.177 to $96.940. The Seam showed sales of 1,093 bales on Tuesday, with an average price of 61.43 cents/lb. The world focused Cotlook A Index was down 80 points at 78.65 on July 21. ICE cotton stocks were steady on 7/22, with the certified stocks level at 22,337 bales. USDA's Adjusted World Price (AWP) was up a tick on Thursday at 54.72 cents/lb. It is in effect through this coming Thursday. More News from Barchart Coffee Prices Rise on Frost Threats in Brazil Frost Threats in Brazil Push Coffee Prices Sharply Higher Signs of Weak Chocolate Demand Undercut Cocoa Prices Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Oct 25 Cotton is at 66.62, up 3 points, Dec 25 Cotton is at 68.24, down 1 points, Mar 26 Cotton is at 69.63, up 2 points On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
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Japan trade deal sparks hope for US investors, frustration for automakers
By Nora Eckert and David Shepardson DETROIT (Reuters) -Shares of General Motors, Ford Motor, and Jeep-maker Stellantis, some of the biggest automakers in the U.S., rallied on Wednesday after news of a trade deal that will reduce tariffs on imported Japanese cars, as investors saw it as a sign of more deals to come. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You But the companies are not celebrating. Automakers importing vehicles into the U.S. from Japan now face a 15% levy, according to terms of the deal outlined on Tuesday by U.S. President Donald Trump, down from 27.5%. GM shares rallied 9% and Stellantis rose 12%, as market watchers said they anticipated further agreements could reduce other trade barriers that have hurt the companies' profits. Ford shares rose about 2%. The automaker is less exposed to tariffs because it produces more of its U.S.-sold vehicles domestically. On Wednesday, the European Union and United States were nearing a trade deal that would also set a 15% tariff on European imports. GM, Ford and Stellantis have been paying up to 25% on vehicles imported from Mexico or Canada, depending on how much U.S. content is in the vehicles. The companies are concerned they could soon be paying higher tariffs on vehicles assembled in Mexico or Canada than on vehicles with significantly less U.S. content made in Japan or the United Kingdom. Some lobbyists also expressed alarm that if South Korea strikes a similar deal with the U.S., it could become a low-cost market to assemble cars and trucks. "They could be the new Mexico," one lobbyist told Reuters. The American Automotive Policy Council, which represents the Detroit Three, criticized the deal, saying it creates an easier path for Japanese imports than for some cars built in North America. Even before Tuesday's deal, Detroit automotive executives raised concerns that Trump's trade policy could end up giving an edge to foreign automakers who do not invest as heavily in U.S. manufacturing. "This is a bonanza for our import competitors," Ford CEO Jim Farley said in February, when Trump initially proposed levies on Mexico and Canada, but not on major automotive centers such as South Korea. The Japan trade announcement came the same day General Motors said tariff costs knocked $1.1 billion from its bottom line, hurt by a battery of levies including 25% taxes on imports from Canada and Mexico, and 50% on steel and aluminum imports. Industry consultant and former GM executive Warren Browne said the Japan deal "put all vehicles produced in Mexico and Canada by the Detroit Three at a disadvantage' because they face higher levies than Toyota vehicles shipped in from Japan, for example. That could allow the foreign brands to undercut U.S. car companies on price. Toyota, Subaru and Mazda are among the most reliant companies on Japan-produced vehicles for their U.S. sales, and stand to benefit most from the lower tariffs, according to business-analytics firm GlobalData. Toyota imported roughly 500,000 vehicles from Japan last year. Japanese automotive stocks soared after the trade deal announcement. Autos Drive America, which represents those Japanese automakers along with other foreign car companies operating in the United States, on Wednesday praised the trade deal, saying it would lead to further factory investment in the U.S. The deal is good news for Wade Kawasaki, executive chairman of the Wheel Group, a collection of aftermarket wheel, tire and accessory companies based in California. Kawasaki said the group has been trying to break into some aspects of the Japanese market, and the lessening levies will help with that. 'There is a certain group of customers who want American-made products. Those are the ones we were going to get,' he said.
