EU-Sanctioned Nayara in Talks With India to Sustain Refinery Run
The company's 400,000 barrels-a-day crude processing plant at Vadinar on India's west coast is operating at 'healthy run rate' and it continues to distribute to the local market, the refiner said.
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Forbes
22 minutes ago
- Forbes
Trump's Tariffs: Why Retail Could Look To China
After a summer of rapid-fire tariff announcements, the U.S. trade picture is shifting in ways that will reshape holiday and beyond. The cascade began with the sweeping 'reciprocal' tariff in April, which applies to virtually all imported goods, with rates varying 10-50% by trading partner. On top of this universal baseline, Washington has layered targeted surcharges on categories such as autos, steel and aluminum, and copper, along with country-specific moves that will raise India's overall rate to 50% on Aug.27. A 90-day extension of the U.S.–China tariff truce on Aug. 11 pushing any new duties until early November. This extension pauses planned hikes including those on Chinese goods, and keeps China's existing rates unchanged. The pause shifts competitiveness back toward Chinese manufacturers just as retailers lock in Q4 production. Inflation Impact Is Still Unclear On Aug. 7, the Budget Lab at Yale updated its tariff model to include actions through Aug. 6. The report estimates an average overall effective tariff rate of 18.6% before substitution, with a short-run price impact of about 1.8% and an average household income loss of roughly $2,400, assuming no monetary policy offset. One day later, the Bureau of Labor Statistics reported July CPI. Headline inflation rose 0.2% month over month and 2.7% year over year. Core inflation increased 0.3% on the month and 3.1% on the year. The numbers suggest that, for now, tariff pass-through has not yet driven a sharp reacceleration in consumer prices as effects tend to lag. Peak inflation impacts could hit as holiday inventory arrives on shelves. Tariff Milestones Announced April 2, this measure applied a baseline duty to nearly all imports, with reciprocal rates varying by country. It is the foundation for today's trade environment and applies across categories from apparel to electronics to food. Targeted Section 232 actions add extra duties for specific categories, including automobiles (effective April 3), auto parts (effective May 3), steel and aluminum (rates doubled to 50% in June), and copper-intensive products (50% of copper input value, effective Aug. 1). These charges stack on top of the universal tariff. The U.S. Court of International Trade struck down certain tariffs issued under the International Emergency Economic Powers Act (IEEPA) and issued an injunction. The Federal Circuit stayed that order, keeping duties in place pending appeal. The eventual ruling could have major implications for the durability of the current tariff framework. The Aug. 11 extension prevents an immediate spike in China rates, keeping them steady into the heart of the holiday build. A 25% surcharge will stack with the universal rate to reach 50%, with limited exemptions for goods already in transit. Retail And Consumer Tariff Impact Holiday Sourcing Tilts Back To China With China rates frozen until November, retailers can land late October and early November goods under current terms. The India increase narrows its price advantage just as final holiday orders are locked, pushing some sourcing back toward China, reversing years of 'China-plus-one' diversification. Several India-based suppliers report that orders placed earlier in the summer have already been canceled or redirected to Chinese factories in the days following the tariff extension. For retailers, these shifts are landing at a critical point in the production cycle, when manufacturing lead times for peak Q4 goods are already tight. Toy Aisles Tell The Story China supplies the majority of U.S. toys, and the sector has warned of higher prices and leaner assortments this year. President Trump's remark earlier in 2025 that 'maybe the children will have two dolls instead of 30' became a flashpoint, illustrating how policy debates can spill into consumer sentiment. While politically charged, it underscored a real dynamic: retailers may protect key toy price points by trimming accessories, narrowing SKUs or delaying less popular lines. Metals Ripple Into Durables Higher steel, aluminum and copper costs will filter through to lighting, small appliances, HVAC and electrical goods gradually, as contracts reset. Seasonal items like grills and heaters may see quicker increases as retailers decide whether to absorb costs or pass them on. Shelf-Price Strategy The Yale model's 1.8% price impact aligns with retail plans: selective increases in metal-heavy and electronics-adjacent categories, balanced by deeper promotions and expanded private-label offerings to keep key price points stable. Macro Risks Into 2026 Yale's model, published prior to the late-August tariff escalation on India, estimated that current policies could trim real GDP growth by 0.5 percentage point in both 2025 and 2026 and raise unemployment by 0.3 percentage point this year and 0.7 point by the end of 2026. With India now facing a 50% duty on many exports, the inflationary and growth impacts may be higher than originally projected, particularly in categories where India has been gaining share from China such as textiles, footwear, and commodities. If the China pause lapses in November, costs for spring 2026 receipts could spike during the Lunar New Year production cycle. If it holds, a gradual 'China-plus-one' sourcing strategy is still likely to accelerate without displacing China entirely. The Retail Tariff Playbook Pull forward Q4 orders under current China rates and use multiple ports to reduce congestion risk. Reduce copper and aluminum content, re-specify components and pre-buy trims ahead of India's Aug. 27 increase. Hold the line on key value items while recovering margin on higher-cost SKUs. Review tariff-sharing terms and ensure product classifications are current. Prepare for both renewed China hikes and a continued truce. How Tariffs Could Impact The Holiday Shopping Season Tariffs have become a standing policy tool rather than a temporary bargaining chip. The next flashpoint comes in early November, when the China tariff extension expires. If duties rise, in the middle of peak shipping for early 2026 goods, the industry could see a bifurcated supply chain strategy: heavy reliance on China for holiday 2025, paired with a rapid pivot elsewhere for early 2026 replenishment. Between now and then, retailers must navigate a policy environment where trade announcements can swing sourcing math overnight. The winners will be those that can adapt quickly, negotiate strategically, and forecast beyond the next policy headline.
Yahoo
2 hours ago
- Yahoo
Indian miner IREL seeks Japan, South Korea partnerships for rare earth magnet production
By Neha Arora NEW DELHI (Reuters) -India's state-owned miner IREL is seeking to collaborate with Japanese and South Korean companies to start commercial production of rare earth magnets, a source familiar with the matter said, as part of efforts to reduce reliance on China. The company is looking at both Japan and South Korea for rare earth processing technology, potentially through government-to-government channels, the source said, declining to be named as the discussions are not public. The miner aims to formalise talks with other countries on rare earth mining and technology partnerships and plans to seek IREL board approval for commercial magnet production this year, the source said. IREL and the Department of Atomic Energy, which oversees the company, did not respond to requests for comment. India currently lacks commercial-scale facilities to refine and separate the full range of rare earth elements to high-purity levels. China, which controls the bulk of global rare earth mining, suspended exports of a wide range of rare earths and related magnets in April, upending the supply chains central to automakers, aerospace manufacturers, and semiconductor companies among others that use them. IREL has also approached Toyotsu Rare Earths India, a unit of Japanese trading house Toyota Tsusho, to seek help in reaching out to companies in Japan for processing of rare earth materials, the source said. The source said IREL had an initial meeting with Toyotsu to explore whether it could engage Japanese magnet manufacturers, with one proposal involving the possibility of a Japanese company setting up a plant in India. Toyota Tsusho and Toyotsu Rare Earths India did not immediately comment. Japan's Ministry of Economy, Trade and Industry, in charge of rare earths, did not immediately respond to a Reuters email seeking comment. In June, Reuters reported that India asked IREL to suspend a 13-year-old rare earth export agreement with Japan to conserve domestic supplies. IREL is prepared to supply rare earth element neodymium oxide to a technology partner, who would then produce the magnets and send them back to India, the source said. The state miner currently has the capacity to produce 400–500 metric tons of neodymium annually, the source said, noting that output could increase depending on the terms of the collaboration. IREL also plans to expand domestic rare earth mining and processing. In India, rare earth mining is restricted to IREL, which supplies the Department of Atomic Energy with materials for nuclear power and defence-related applications. The company is also exploring potential rare earth mining opportunities in Argentina, Australia, Malawi and Myanmar, the source said. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 hours ago
- Yahoo
Fluent Cargo launches Global Disruption Feed
Fluent Cargo has introduced its Global Disruption Feed in response to escalating tariff volatility and record-high US seaborne container imports. The feature includes a real-time intelligence service designed to inform companies of disruptions affecting shipping routes globally. The Global Disruption Feed is an enhancement to Fluent Cargo's online platform, which offers routing, schedules, tracking, pricing, and emissions data for cargo shipments. The new feature provides timely updates, allowing shippers and freight forwarders to make informed decisions on the best shipping routes. Fluent Cargo CEO Archival Garcia said: 'With potential new tariffs creating immediate pressure to optimise supply chains and the US-China trade relationship facing renewed uncertainty, logistics managers need real-time disruption intelligence more than ever. 'Traditional monthly planning cycles simply can't handle today's volatility, whether it's trade policy changes, severe weather, or infrastructure failures.' This launch comes at a critical time as supply chain uncertainty grows due to fluctuating tariffs and traditional planning cycles struggle to keep pace with dynamic market conditions. Furthermore, the shipping industry is facing various disruptions beyond tariffs. For instance, Sydney's ports have been suspended by a 'bomb cyclone' since 1 July, with winds reaching 125km/hr. Similarly, rail closures since 4 July have disrupted connections to Hamburg's main container facilities. "Companies that can adapt their routing strategies immediately will maintain competitive advantage while others struggle with disruption. Our platform transforms how businesses respond to the unexpected, from severe climate events to port closures,' added Garcia. Fluent Cargo's Global Disruption Feed not only notifies users of disruptions but also offers severity ratings and detailed location information. This enables logistics professionals to transition from reactive crisis management to a proactive strategy to optimise their supply chain operations. The Global Disruption Feed is now available to Fluent Cargo users across the world. Furthermore, Fluent Cargo's recent partnership with market intelligence firm Xeneta in April aims to enhance freight routing and pricing decisions. As Xeneta's first partner in Australia and New Zealand, Fluent Cargo will facilitate broader access to valuable market data for companies in the region. "Fluent Cargo launches Global Disruption Feed" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
