China Minister Meets US Delegation Including Apple in Beijing
Minister of Industry and Information Technology Li Lecheng discussed equipment machinery, intelligent manufacturing and business operations in China with the delegation led by US-China Business Council chair and FedEx Corp. Chief Executive Officer Rajesh Subramaniam, according to a government statement. In addition to Apple, executives from companies including Thermo Fisher Scientific Inc. and Otis Worldwide Corp. also attended the meeting, the statement said, without identifying the participants.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
The Fed is concerned. This economist explains exactly why.
KPMG US chief economist Diane Swonk joins Market Domination with Josh Lipton to discuss what the Federal Reserve is concerned about when it comes to price stability and tariffs. To watch more expert insights and analysis on the latest market action, check out more Market Domination. Sign in to access your portfolio
NBC News
12 minutes ago
- NBC News
This cookware maker is bracing for steel tariffs behind a wall of pots and pans
Checkbook Chronicles Steel and aluminum tariffs are going to cost Heritage Steel hundreds of thousands of dollars a year. But Danny Henn, who runs the family-owned stainless steel cookware company, says it may have a competitive edge. Aug. 3, 2025, 2:06 PM EDT By Emily Lorsch Heritage Steel, a small, family-owned cookware manufacturer in Clarksville, Tennessee, is expecting to pay hundreds of thousands of dollars in tariffs this year. The company recently received a tariff bill of $75,000 on an order of handles, and the company's vice president of operations, Danny Henn, is anticipating another bill of closer to $200,000 for goods that will likely reach the U.S. this month. 'We're a pretty small business,' Henn said. 'Having that as an additional sort of surprise expense is not insignificant.' But even with that new cost factored in, Heritage Steel believes steel and aluminum tariffs could be good for the business. 'Just from the base economics of it, yes, we have to pay more, but others have to pay a whole lot more,' Henn added. Heritage Steel employs about 40 workers and has more than doubled its revenue since 2018. The company is up 60% in cookware sales since last year. While company leaders now have to rethink pricing and make adjustments in response to President Donald Trump's trade war, Henn said they're feeling optimistic. Business highlights Danny Henn's grandfather Donald Henn was a door-to-door cookware salesman after graduating from college. In 1983, he purchased a factory in Clarksville, Tennessee, and from there was born New Era, which later became Heritage Steel. 'My grandma and grandpa and my parents were always big people about cooking at home. The cookware was always there,' said Henn. From frying pans and skillets to stock pots, saucepans and knives, Heritage Steel sells about 50 different cookware products on its website and Amazon. The company also sells wholesale to independent gourmet retailers. 'We are happy and proud to be an American producer of goods.' Heritage Steel needs three main types of inputs to make its cookware, and about 75% of the company's materials are imported. The most important part and the largest cost is the five-ply cladded body, which includes a combination of stainless steel and aluminum. 'It's very specialized processing that it has to go through to get into this form,' Henn said. 'And so, because it is very specialized, there's not a whole lot of people that do it.' Tariff impacts Heritage Steel imports its cladded steel from South Korea, which will be facing a 15% tariff that Trump announced on Wednesday after the country made 'an offer to buy down' the 25% duty level he had previously set. The company imports its handles, made from pure stainless steel using a process called lost-wax casting, from China. Meanwhile, the company purchases the material for its stainless steel lids in the U.S. Those parts don't have to be cladded and are a more simple single layer of stainless steel that's more widely available. Heritage Steel had previously sourced cladded steel from U.S. vendors, but those providers have since exited the business, according to Henn. 'There's just not enough of a U.S. market for cookware manufacturing of this type … right now. There isn't a viable vendor for us to find.' Since the company only makes a handful of raw-material purchases each year, it typically has a large order coming in all at once, which set up the company nicely when the first 25% tariffs on steel went into effect earlier this year. 'We had a good amount of it,' Henn said, referring to the raw materials, 'so that gave us more time of being able to know we're going to be able to manufacture and sell a bunch of stuff without the tariff cost on it.' Henn said that wasn't a tariff strategy, but instead a benefit of his company's workflow. However, they knew that leeway wasn't going to last forever. Eventually it became time for Heritage Steel to order more materials. That first tariff bill was about $75,000, and Henn is expecting the next to be more than twice as much. Who pays? For Heritage Steel, there was never a doubt it would have to raise prices because of the tariff expenses. The question was how high would they have to go? 'We're happy and proud to be a provider of really high-quality cookware, but one that's more affordably priced than some of the others on the market,' Henn said. 'We want to continue to offer the best price we can, given our constraints.' As of Friday, the company had raised prices by about 15% on all of its products. Heritage Steel explained the increase in an announcement on its website, calling the adjustment 'fairly modest' considering the price of the company's input materials spiked at least 50%. 'Obviously, we can't bear the full impact of these cost increases,' Henn said, 'but we also don't want our customers to bear the full cost.' He expects these changes to negatively impact the company's profit margins, but as of now the extent is unclear. Henn believes the company has more flexibility than a lot of its competitors because Heritage Steel is only importing raw materials, not the full product, and manufactures in the U.S. That's why he expects the overall market disruption could be good for the company. 'They might have to do something closer to a 50% price increase,' he said of his competitors, 'because their entire cost of goods is going up by 50%.' For Heritage Steel, on the other hand, only the price of parts is up 50%, not the full product. Henn said it's all about finding the sweet spot: a fair amount to charge customers to compensate for the new costs while still being a price leader in the market. 'We're just doing our best to do good by our customer, not raise prices too much, do well by our employees, keep paying them well and try to stay competitive within the market.' Even though Henn is optimistic about this potential competitive edge, that doesn't mean he believes the Trump administration's tariffs are the right approach. What makes more sense to him, he said, is a change over a longer period of time. 'If there is something that would have a similar effect of giving incentives to bring more more industry back to the U.S., I think that would likely be a positive,' he said, adding that he believes the intent of the tariffs policy is good. 'The implementation is a little bit rocky,' he said. Henn declined to comment on his political views and whom he voted for in the presidential election. As for other options that could bring down Heritage Steel's tariff bill, that's something being discussed as well. While stainless clad cookware is the company's bread and butter, Henn and his co-owners are exploring a range of possibilities. 'If we had our full wish,' Henn said, 'we would be able to have a fully U.S.-based supply chain for our entire manufacturing process.' Emily Lorsch Emily Lorsch is a producer at NBC News covering business and the economy.
Yahoo
25 minutes ago
- Yahoo
This Bezos-Backed Real Estate Startup Is Quietly Disrupting the 401(k)
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. For decades, the 401(k) has been the gold standard of retirement planning in the U.S.—a slow-and-steady way to build wealth by investing in stocks, bonds, and mutual funds through your employer. But while that model has worked for millions, it's also left a lot to be desired: limited control, unpredictable returns, and almost no cash flow until you're well into your 60s. That's why a new real estate investing platform backed by Jeff Bezos is turning heads—and quietly offering an alternative to the 401(k) that's already helping thousands of people earn rental income today. The platform is called Arrived, and it lets you invest in actual single-family rental homes across the U.S. starting at just $100. No mortgages. No landlord duties. No accreditation required. You earn passive rental income each quarter and share in the profits when properties are sold. And unlike a traditional retirement account, you don't have to wait decades to see your returns. For a growing generation of investors looking for something more flexible, more tangible, and more immediate, Arrived is proving to be a powerful supplement—or even an alternative—to the 401(k). The 401(k) Isn't Broken—But It's Not Built for Everyone Let's be clear: the 401(k) has its place. It's helped millions of workers build long-term retirement savings, especially when employers offer contribution matches. But it also comes with real limitations. You typically can't touch your money without penalties until you're 59½. The investment options are limited to a handful of mutual funds or ETFs chosen by your plan administrator. And your returns are tied entirely to market performance, with no real diversification outside of equities and bonds. Don't Miss: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $100. Even worse? There's no income—at least not until retirement. Your 401(k) balance may grow over time, but it won't help you earn passive income while you're still working, freelancing, or building a business. For people who want more flexibility in their financial plan—and more control over their investment mix—that's a problem. What Arrived Does Differently Arrived is built on a simple idea: make rental real estate accessible to everyone, not just wealthy landlords or real estate pros. The platform identifies and acquires single-family homes across the U.S., then opens them up for fractional investment. You invest as little as $100 to buy shares of individual homes. Arrived handles everything else—finding tenants, collecting rent, managing repairs, and overseeing the property. Each home is held in its own LLC, and investors earn quarterly cash payouts from rental income. When the home is eventually sold—typically after 5 to 7 years—you also receive your share of the profits if the property has appreciated. That means you're not just betting on long-term value. You're earning income in the near term too, with no need to wait decades to benefit. Real Returns, Not Just Projections Let's talk numbers. One of the most important questions for anyone considering an alternative to a 401(k) is: how do the returns compare? In Q4 of 2024, Arrived paid out $1.84 million in rental dividends across 365 operational homes, a 19% increase from the previous quarter. They reported a 92% stabilized occupancy rate, with 63% of new leases beating forecasted rents. These are real numbers from real homes—not paper returns on a spreadsheet. Across the platform, Arrived properties generally offer targeted annual returns of 5.4% to 7.2%, combining both rental income and estimated long-term appreciation. That's right in line with—or in some cases better than—the long-term average for 401(k) plans, which typically return 6–7% annually, depending on the market and asset allocation. Here's how they compare:Investment Type Average Annual Return Liquidity Cash Flow Control Arrived 5.4–7.2% Low (5–7 year hold) Yes (Quarterly) High (pick each property) 401(k) 6–7% Very Low (penalties before 59½) No Low (limited fund selection) REITs ~7.6% (long-term avg) High Yes None (you buy the fund) It's not that one option is 'better'—it's that Arrived gives you something the others don't: a way to earn income now, not later, while building real ownership in real assets. Why It's So Appealing to Younger Investors Arrived is especially attractive to millennials and Gen Z investors who aren't sold on the idea of working 40 years and crossing their fingers that their 401(k) grows fast enough. Many don't have access to employer matches. Some are self-employed. Others are renters in expensive cities where buying property feels like a pipe dream. With Arrived, you don't need to save for a down payment, apply for a mortgage, or commit to owning property in one city. You can spread your investments across dozens of homes in different markets and receive steady rental income while still living your life. Whether your goal is early retirement, supplemental income, or just better diversification, Arrived fits into the kind of flexible financial plans that more and more people are building today. Why the Jeff Bezos Backing Matters Arrived didn't just show up out of nowhere. It's backed by Bezos Expeditions, the personal venture capital fund of Amazon founder Jeff Bezos. That investment—along with support from other top-tier investors—has allowed Arrived to scale quickly, vet properties rigorously, and build a platform that's as clean and intuitive as any modern fintech app. And the traction is real. Over 18,000 investors have used Arrived. Properties often sell out within minutes of going live, with minimum investments from $100. And the platform is expanding, with offerings that now include vacation rentals, private credit funds, and diversified real estate portfolios for those who want even broader exposure. See Next: Maximize saving for your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. It's no wonder Jeff Bezos holds over $250 million in art — this beloved alternative asset has outpaced the S&P 500 since 1995, delivering an average annual return of 11.4%. This article This Bezos-Backed Real Estate Startup Is Quietly Disrupting the 401(k) originally appeared on Sign in to access your portfolio
