
No 'Trump bump' for global M&A as tariffs leave buyers leery
NEW YORK -- Uncertainty fueled by U.S. tariffs has contributed to a drop in global mergers and acquisitions to a 20-year low, dashing earlier hopes of a deregulation-driven "Trump bump."
A total of 2,482 M&A deals were announced in March according to Dealogic -- the lowest monthly tally since May 2005, and a bigger slump than those that followed past shocks such as the 2008 financial crisis and the COVID-19 pandemic. Activity ticked up slightly in April, with 2,513 deals, but this was still well below last year's monthly average of 3,457.

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The Mainichi
6 hours ago
- The Mainichi
New S. Korea leader, Trump agree to seek 'satisfactory' tariff deal
SEOUL (Kyodo) -- New South Korean President Lee Jae-Myung and U.S. President Donald Trump agreed during their first telephone talks on Friday to work toward a "mutually satisfactory" agreement on U.S. tariffs at an early date, South Korea's presidential office said. "Regarding ongoing tariff consultations between the two countries, the presidents agreed to strive for a mutually satisfactory agreement as soon as possible," the office said after their phone talks, adding that the leaders pledged to encourage tangible progress to be achieved in working-level negotiations. The two countries have been trying to negotiate a deal on the 25 percent tariffs Trump imposed on South Korea in early April as part of his so-called reciprocal import duties targeting almost all countries. During their talks, which started off with Trump congratulating Lee on his win in Tuesday's election, Lee emphasized the significance of his country's alliance with the United States. Both sides expressed an intention to work closely together for further development of the iron-clad alliance, according to the office. The office also said that Trump invited Lee to the United States, and the two leaders agreed to meet at the earliest opportunity to hold more in-depth discussions on advancing the alliance.


Japan Today
7 hours ago
- Japan Today
Japan, U.S. yet to find common ground on tariffs but want quick deal
Japan's chief tariff negotiator Ryosei Akazawa speaks to reporters after holding talks with U.S. Treasury Secretary Scott Bessent and U.S. Commerce Secretary Howard Lutnick in Washington on Friday. Japan and the United States have "yet to find common ground" on tariff issues, Tokyo's top negotiator said Friday, indicating that there remain many differences between the sides, but they still aim to clinch a win-win deal in mid-June. After holding talks with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick in Washington, Ryosei Akazawa told reporters that he believes "further progress" was made. They will also "continue coordinating energetically to achieve an agreement that benefits both Japan and the United States," Akazawa said. Akazawa, however, noted that no decision has been made on whether there will be another round of negotiations next week or beyond. He suggested it depends on the schedule of the U.S. cabinet members who are due to hold high-level trade talks with China in London on Monday. Akazawa, Japan's minister for economic revitalization, and Bessent sat down for about 45 minutes to explore whether it may be feasible for the countries' leaders to reach a trade agreement when they are expected to meet in person in about 10 days. With Lutnick, whom Akazawa also met a day earlier for about two hours, the Japanese minister said he held separate talks of approximately similar length addressing three major areas -- trade, nontariff barriers and economic security. Akazawa declined to reveal details of the negotiations, including which issues had seen progress. However, Akazawa, as he has done consistently in the ongoing talks, said he had reiterated Tokyo's position that the Trump administration's additional tariffs must be removed as quickly as possible, as the measures are having a serious impact on the Japanese economy. Japanese Prime Minister Shigeru Ishiba and U.S. President Donald Trump plan to hold a meeting around the time of the three-day Group of Seven summit in Canada, which starts on June 15. Akazawa, who arrived in the U.S. capital on Thursday for the third straight week and a fifth round of ministerial tariff talks, said the leaders will meet after hearing how far discussions have progressed. Under Trump's so-called reciprocal tariff regime, announced April 2, almost all countries in the world have been hit by a baseline duty of 10 percent, with Japan facing an additional country-specific tariff of 14 percent for a total rate of 24 percent. Along with other countries, Japan has also been affected by the Trump administration's extra 25 percent tariff on automobiles and other sector-based levies implemented on national security grounds. Japan has presented a package of proposals to the United States since the first round of their ministerial talks in mid-April. The package includes joint efforts to strengthen supply chains for semiconductors and critical minerals, cooperation in shipbuilding, expanding imports of U.S. farm products to Japan, and simplification of its safety and environmental requirements for foreign-made cars. Japan does not impose tariffs on imported cars, trucks or buses. The Trump administration has claimed, however, that American automakers' limited penetration into Japan's market is due to nontariff barriers, such as nonacceptance of certain U.S. standards. © KYODO


Yomiuri Shimbun
7 hours ago
- Yomiuri Shimbun
For Sale (Maybe): Trump's Red Tesla — Low Miles, Almost New
Michael S. Williamson/The Washington Post A Tesla automobile owned by President Donald Trump (he does not drive it, but some staffers do) is parked in a lot next to the White House fence Thursday. Searching for a hardly sat-in luxury EV in cherry red? The president might be willing to cut you a deal. A day after his public spat with Elon Musk, the White House signaled Friday that President Donald Trump might be joining the ranks of buyers with Tesla remorse and surrender the keys to his nearly new Model S. Trump bought the sedan in March, calling it 'a great product, as good as it gets' to show his support for the Tesla CEO. The gesture was meant to counter some of the public backlash to Musk's involvement with the U.S. DOGE Service, some of which was funneled toward Tesla dealerships, charging stations and even some car owners in the form of vandalism and protests. Trump's unorthodox car show on the South Lawn of the White House in March marked the apex of his cozy relationship with the billionaire, who spent at least $288 million to help return him to the Oval Office. Because U.S. presidents and vice presidents are prohibited from driving on public roads, Trump's purchase of the Tesla was more symbolic than functional. But fissures in their relationship emerged soon after Musk exited DOGE, blowing up in spectacular fashion Thursday as the two exchanged a barrage of threats, digs and accusations on social media. Now that the alliance is apparently over, a senior White House official said Friday that Trump is thinking of selling the luxury EV that Car and Driver says retails from $80,000 to more than $100,000. If he did, he'd be among the wave of Tesla owners unloading their cars. Trade-ins surged in March as Musk and DOGE moved to dramatically cut the federal workforce. The buyers who once proudly touted their Teslas had soured on the cars, dampening the company's performance. Given the provenance of Trump's Model S, it may sell for a collector's bounty. But if it were subject to the traditional used-car market, it might go for far less than its MSRP. The TrueCar online marketplace on Friday listed one 2024 Model S for sale within 500 miles of Washington, with just 4,760 miles on the odometer, and an asking price of $54,980 – 28 percent below the 2024 MSRP listed in Car and Driver. By comparison, prices for 2024 electric BMW i5 vehicles with 4,000 to 5,000 miles were about 13 percent below their MSRP. Tesla stock has hit some bumps; its shares fell nearly 14.7 percent this week and are now down more than 26.8 percent year-to-date, according to MarketWatch. In the first quarter, the company recorded its largest drop in deliveries in history, coming in 50,000 units below last year. This week, Goldman Sachs lowered its second-quarter vehicle delivery estimates for Tesla, pointing to 'demand/brand issues' turning off consumers in U.S. and European markets. Dan Ives, managing director at Wedbush Securities and a longtime Tesla bull, said the 'major beef' between Musk and Trump has been 'a shock to the market' that puts 'major fear' into the hearts of Tesla investors as they consider how far the feud might go. 'This must start to be calmed down on the Musk and Trump fronts,' Ives said in commentary Thursday. 'It's not good for either side.'