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US Tariff Limbo Gives Canadian Warehouses a New Lease on Life

US Tariff Limbo Gives Canadian Warehouses a New Lease on Life

Bloomberga day ago

Not long after President Donald Trump announced his 'Liberation Day' tariffs, Todd Pollock got a call from a business with a problem. The caller, whose company manufactures home furnishings in China, had about 50 shipping containers on their way to Southern California, each facing a surprise 145% tariff bill. It was too late to divert them to another port.
So Pollock offered a creative solution: Change the final destination on the shipping manifest to his warehouse in Windsor, Ontario—thousands of miles away—then transport everything there in special bonded trucks, which exempt their contents from duties while they're in transit. Legally, it was as if the products never landed in the US at all. Now palettes of those China-made furnishings are stacked almost 30 feet high in Pollock's warehouse just across the border from Detroit, alongside boxes of toys, apparel, pet goods and other inanimate refugees from Trump's latest trade war—and Pollock, co-founder of Windsor Fulfillment Corp., only sees demand for space like his growing.

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Circle's Jumps 168% In NYSE Debut, Marking Largest Crypto IPO Since Coinbase
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Circle's Jumps 168% In NYSE Debut, Marking Largest Crypto IPO Since Coinbase

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Circle Internet Financial (NYSE:CRCL), the company behind the USDC stablecoin, raised $1.1 billion in an upsized initial public offering on Thursday, marking its public debut with a 168% first-day gain. Circle's listing marked the largest crypto IPO since Coinbase Global Inc. (NASDAQ:COIN) went public in 2021. Circle and its shareholders sold 34 million shares—14.8 million by the company and 19.2 million by existing investors—at $31 per share, above the marketed $27–$28 range. The deal attracted demand reportedly 25 times greater than the available shares at the pricing cutoff, underscoring investor enthusiasm. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Shares opened at $69 and closed at $83.23, resulting in a market capitalization of $18.4 billion by the end of the session. Trading volume reached 46 million shares, highlighting investor engagement on the opening day. Institutional activity played a key role: Cathie Wood's ARK Invest disclosed a $150 million investment, and BlackRock Inc. (NYSE:BLK) acquired about 10% of the IPO shares, according to Bloomberg. BlackRock also manages 90% of the reserves backing USDC via the $53.3 billion Circle Reserve Fund. Circle's IPO arrives at a pivotal moment for crypto regulation in the U.S. The company holds a New York BitLicense—a key regulatory milestone—and CEO Jeremy Allaire told CNBC the firm has been "one of the most licensed, regulated, and transparent companies in the entire history of this industry," adding that the approach "has served us well. The listing arrives as political and regulatory sentiment appears to be shifting in favor of the crypto sector. According to the Associated Press, analysts view the Trump administration's pro-crypto stance and a bipartisan stablecoin bill advancing through Congress as potential tailwinds that could solidify Circle's position in regulated digital finance. Trending: New to crypto? on Coinbase. Analysts cited by Reuters say Circle's success is being closely watched by other crypto and fintech firms considering public offerings. The deal's reception may encourage listings from peers such as Kraken and Gemini, as well as non-crypto fintechs like Chime. The stablecoin market could surpass $3 trillion in the next five years, driven by demand for low-cost, real-time cross-border payments and institutional infrastructure for tokenized finance, CNBC reported. As of June 6, USDC has a market cap of roughly $60 billion, making it the second-largest stablecoin behind Tether's USDT, which stands near $150 billion, according to Yahoo Finance. Circle is entering a crowded stablecoin market ecosystem that now includes the Trump-backed USD1 token, the AP reports, while its USDC remains one of the most widely used stablecoins, even as rival tokens vie for market share. Reuters described the IPO as a broader vote of confidence in tokenized financial markets. Meanwhile, CNBC cited Circle's $25 trillion in cumulative transaction volume and its regulatory-first approach as factors reinforcing its role in the future of digital payments. Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock This article Circle's Jumps 168% In NYSE Debut, Marking Largest Crypto IPO Since Coinbase originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Shaq Signs $1.8 Million Check to End His Crypto Drama
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Shaq Signs $1.8 Million Check to End His Crypto Drama

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CNET's Daily Price Tracker: I'm Watching How Prices Are Moving as Major Sales Approach
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time32 minutes ago

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A trade court has ruled Trump's tariff barrage illegal, but the possibility of prices climbing remains. James Martin/CNET For CNET's tariff price tracker, I've been keeping an eye on several products that have a high chance of being affected by President Donald Trump's tariff agenda. Most prices I've been looking at have remained stable so far, aside from notable increases for the Xbox Series X and a budget-friendly 4K TV, and occasional discounts during big sale periods, which is currently the case for some popular earbuds, an affordable soundbar and a best-selling pack of batteries. With all that said, the broader impact of these import taxes is still on the horizon, especially as Trump now claims that tariff rates against China are going back up to 55% soon. The Trump administration has also been working to undo a trade court ruling which found that Trump has no authority to set tariffs as he has been -- a move now being argued before an appeals court. We'll see how that ultimately plays out, but for now, the possibility that the president's tariff policies will lead to price hikes remains likely. That's why I'm continuing to monitor several key products you might want or need to buy soon, to keep track of the potential tariff impacts. CNET Tariff Tracker Index Above, you can check out a chart with the average price of the 11 products included in this piece over the course of 2025. This will help give you a sense of the overall price changes and fluctuations going on. Further down, you'll be able to check out charts for each individual product being tracked. For now, the average price for all of the products we're covering is down noticeably compared to May, though this might be a result of the various sales going around to kick off the summer. You can probably expect that trend to continue into next month when Amazon holds its Prime Day sale, which I anticipate will be a good time to make a lot of purchases before tariff impacts really start to take hold. We'll be updating this article regularly as prices change. It's all in the name of helping you make sense of things so be sure to check back every so often. For more, check out CNET's guide to whether you should wait to make big purchases or buy them now and get expert tips about how to prepare for a recession. Now Playing: Should You Buy Now or Wait? Our Experts Weigh In on Tariffs 09:42 Methodology We're checking prices daily and will update the article and the relevant charts right away to reflect any changes. The following charts show a single bullet point for each month, with the most recent one labeled "Now" and showing the current price. For the past months, we've gone with what was the most common price for each item in the given month. In most cases, the price stats used in these graphs were pulled from Amazon using the historical price-tracker tool Keepa. For the iPhones, the prices come from Apple's official materials and are based on the 128-gigabyte base model of the latest offering for each year: the iPhone 14, iPhone 15 and iPhone 16. For the Xbox Series X, the prices were sourced from Best Buy using the tool PriceTracker. If any of these products happen to be on sale at a given time, we'll be sure to let you know and explain how those price drops differ from longer-term pricing trends that tariffs can cause. The 11 products we're tracking Mostly what we're tracking in this article are electronic devices and digital items that CNET covers in depth, like iPhones and affordable 4K TVs -- along with a typical bag of coffee, a more humble product that isn't produced in the US to any significant degree. The products featured were chosen for a few reasons: Some of them are popular and/or affordable representatives for major consumer tech categories, like smartphones, TVs and game consoles. Others are meant to represent things that consumers might buy more frequently, like printer ink or coffee beans. Some products were chosen over others because they are likely more susceptible to tariffs. Some of these products have been reviewed by CNET or have been featured in some of our best lists. Below, we'll get into more about each individual product, and stick around till the end for a rundown of some other products worth noting. iPhone 16 The iPhone is the most popular smartphone brand in the US, so this was a clear priority for price tracking. The iPhone has also emerged as a major focal point for conversations about tariffs, given its popularity and its susceptibility to import taxes because of its overseas production, largely in China. Trump has reportedly been fixated on the idea that the iPhone can and should be manufactured in the US, an idea that experts have dismissed as a fantasy. Estimates have also suggested that a US-made iPhone would cost as much as $3,500. Something to note about this graph: The price listed is the one you'll see if you buy your phone through a major carrier. If you, say, buy direct from Apple or Best Buy without a carrier involved, you'll be charged an extra $30, so in some places, you might see the list price of the standard iPhone 16 listed as $830. Apple's been taking a few steps to protect its prices in the face of these tariffs, flying in bulk shipments of product before they took effect and planning to move production for the US market from China to India. This latter move drew the anger of Trump again, threatening the company with a 25% tariff if they didn't move production to the US, an idea CEO Tim Cook has repeatedly shot down in the past. This came after Trump gave a tariff exemption to electronic devices including smartphones, so the future of that move seems in doubt now. Apple's flagship device is still the top-selling smartphone globally, as of Q1 of this year, although new research from the firm Counterpoint suggests that tariff uncertainty will cause the brand's growth to stall a bit throughout the rest of 2025. Duracell AA batteries A lot of the tech products in your home might boast a rechargeable energy source but individual batteries are still an everyday essential and I can tell you from experience that as soon as you forget about them, you'll be needing to restock. The Duracell AAs we're tracking are some of the bestselling batteries on Amazon. This particular pack hasn't seen much shift in pricing in the last few months, but it's currently around $3 off on Amazon, so it's a good time to pick up some batteries if you need them. Samsung DU7200 TV Alongside smartphones, televisions are some of the most popular tech products out there, even if they're an infrequent purchase. This particular product is a popular entry-level 4K TV and was CNET's pick for best overall budget TV for 2025. Unlike a lot of tech products that have key supply lines in China, Samsung is a South Korean company so it might have some measure of tariff resistance. This model is currently about $29 more expensive than usual on Amazon, but we'll have to wait and see if this is a temporary change or a more permanent shift in pricing. Xbox Series X Video game software and hardware are a market segment expected to be hit hard by the Trump tariffs. Microsoft's Xbox is the first console brand to see price hikes -- the company cited "market conditions" along with the rising cost of development. Most notably, this included an increase in the price of the flagship Xbox Series X, up from $500 to $600. Numerous Xbox accessories also were affected and the company also said that "certain" games will eventually see a price hike from $70 to $80. Initially, we were tracking the price of the much more popular Nintendo Switch as a representative of the gaming market. Nintendo has not yet hiked the price of its handheld-console hybrid and stressed that the $450 price tag of the upcoming Switch 2 has not yet been inflated because of tariffs. Sony, meanwhile, has so far only increased prices on its PlayStation hardware in markets outside the US. AirPods Pro 2 The latest iteration of Apple's wildly popular true-wireless earbuds are here to represent the headphone market. Much to the chagrin of the audiophiles out there, a quick look at sales charts on Amazon shows you just how much the brand dominates all headphone sales. Earlier in the year, they tended to hover around $199 on the site, a notable discount from its $249 list price, but the price is currently the much more enticing $169, so move fast if you want an affordable pair. (Or maybe just wait for the rumored AirPods Pro 3.) HP 962 CMY printer ink This HP printer ink includes cyan, magenta and yellow all in one product and recently saw its price jump from around $72 -- where it stayed for most of 2025 -- to $80, which is around its highest price over the last five years. We will be keeping tabs to see if this is a long-term change or a brief uptick. This product replaced Overture PLA Filament for 3D printers in this piece, but we're still tracking that item. Anker 10,000-mAh, 30-watt power bank Anker's accessories are perennially popular in the tech space and the company has already announced that some of its products will get more expensive as a direct result of tariffs. This specific product has also been featured in some of CNET's lists of the best portable chargers. This particular model is showing as out-of-stock on Amazon for the time being, but was most recently back up to $26 after a brief sale. Bose TV speaker Soundbars have become important purchases, given the often iffy quality of the speakers built into TVs. While not the biggest or the best offering in the space, the Bose TV Speaker is one of the more affordable soundbar options out there, especially hailing from a brand as popular as Bose. This product has been one of the steadiest on this list in terms of price throughout the year, but it's currently on sale for $199, potentially as part of Amazon's Memorial Day sale. So, if you're looking for an affordable, tariff-free TV speaker, now might be the time. Oral-B Pro 1000 electric toothbrush They might be a lot more expensive than their traditional counterparts but electric toothbrushes remain a popular choice for consumers because of how well they get the job done. I know my dentist won't let up on how much I need one. This particular Oral-B offering was CNET's overall choice for the best electric toothbrush for 2025. Lenovo IdeaPad Flex 5i Chromebook Lenovo is notable among the big laptop manufacturers for being a Chinese company making its products especially susceptible to Trump's tariffs. Starbucks Ground Coffee (28-ounce bag) Coffee is included in this tracker because of its ubiquity -- I'm certainly drinking too much of it these days -- and because it's uniquely susceptible to Trump's tariff agenda. Famously, coffee beans can only be grown within a certain distance from Earth's equator, a tropical span largely outside the US and known as the "Coffee Belt." Hawaii is the only part of the US that can produce coffee beans, with data from USAFacts showing that 11.5 million pounds were harvested there in the 2022-23 season -- little more than a drop in the mug, as the US consumed 282 times that amount of coffee during that period. Making matters worse, Hawaiian coffee production has declined in the past few years. All that to say: Americans get almost all of their coffee from overseas, making it one of the most likely products to see price hikes from tariffs. Other products As mentioned before, we occasionally swap out products with different ones that undergo notable price shifts. Here are some things no longer featured above, but that we're still keeping an eye on: Nintendo Switch: The baseline handheld-console hybrid has held steady around $299 most places -- including Amazon impending release of the Switch 2 remains to be seen. This product was replaced above with the Xbox Series X. impending release of the Switch 2 remains to be seen. This product was replaced above with the Xbox Series X. Overture PLA 3D printer filament: This is a popular choice on Amazon Here are some products we also wanted to single out that haven't been featured with a graph yet: Razer Blade 18 (2025), 5070 Ti edition: The latest revision of Razer's largest gaming laptop saw a $300 price bump recently, with the base model featured an RTX 5070 Ti graphics card now priced at $3,500 ahead of launch, compared to the $3,200 price announced in February. While Razer has stayed mum about the reasoning, it did previously suspend direct sales to the US as Trump's tariff plans were ramping up in April. Asus ROG Ally X: The premium version of Asus's Steam Deck competitor handheld gaming PC recently saw a price hike from $799 to $899, coinciding with the announcement of the company's upcoming Xbox-branded Ally handhelds.

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