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Wall Street Journal
3 minutes ago
- Wall Street Journal
Trump's New Tax Is in the Mail
Proponents of tax increases on others seldom like to pay them personally. Tariffs are no different. The White House claims its tariff revenue is coming from foreign countries, but Americans will soon pay new levies on small packages from abroad because of an executive order President Trump signed last week. On Aug. 29, the U.S. will end its de minimis exemption, which grants Americans a tax break for small mail-order purchases from abroad. For the first time since 1938, international packages will arrive with a tariff bill to be paid by the recipient. That means your next eBay purchase from Europe will incur a 15% tax. Your online coffee order from Brazil will face a 50% markup. And everyday purchases from Amazon Haul, or its Chinese competitor Temu, will come with a surcharge matching the tariff on its origin country. If a postal carrier isn't equipped to calculate the fee according to Mr. Trump's ever-changing tariff schedule, the new tax is a minimum $80 flat rate per package. In total, Mr. Trump's order will put tariffs on the estimated 1.36 billion packages that Americans receive every year from online purchases that were previously tax-exempt. Tax hikes are seldom rewarded at the ballot box. That's why the White House is trying to justify its order by saying the de minimis exemption is abused to send fentanyl and other synthetic opioids undetected. The vast majority of fentanyl smuggled into the U.S. comes from one country: Mexico. But Mr. Trump is ending the de minimis exemption for packages from all countries. Although fentanyl is a deadly drug, there's no evidence that taxing worldwide e-commerce will stop drugs from entering the U.S. Mr. Trump's new package tax is part of a global protectionist resurgence, and we've already seen the pitfalls of the strategy across the Atlantic. The European Union has been targeting Temu and Shein, another low-cost Chinese platform, under the guise of 'consumer protection.' The EU alleges that these platforms distribute 'illegal' goods. But, in many cases, 'illegality' means little more than failing to meet the EU's notoriously complex product-labeling regulations or falling short of its Byzantine labor and environmental rules.
Yahoo
30 minutes ago
- Yahoo
Net Lease Office Properties Declares Special Cash Distribution of $3.10 Per Share
NEW YORK, Aug. 6, 2025 /PRNewswire/ -- Net Lease Office Properties (NYSE: NLOP) reported today that its Board of Trustees has declared a special cash distribution of $3.10 per common share, totaling approximately $45.9 million. The distribution is payable on September 3, 2025 to shareholders of record as of the close of business on August 18, 2025. For additional information on NLOP — including an investor presentation outlining its strategy and progress to date, its latest quarterly report on Form 10-Q and related filings — please visit the company's website. Net Lease Office Properties Net Lease Office Properties (NYSE: NLOP) is a publicly traded real estate investment trust that owns a portfolio of high-quality office properties primarily leased to corporate tenants on a single-tenant net lease basis. Tenants operate across a variety of industries and the vast majority of properties are located in the U.S., with one property located in Europe. Institutional Investors: 1-212-492-1140institutionalir@ Individual Investors: 1-844-NLO REIT (656-7348)ir@ Press Contact:Anna McGrath1-212-492-1166 View original content to download multimedia: SOURCE Net Lease Office Properties 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
Yahoo
an hour ago
- Yahoo
Lyft misses quarterly revenue estimates on competition, weak US travel demand
(Reuters) -Lyft missed second-quarter revenue estimates on Wednesday, weighed down by intensifying competition with Uber and weakening U.S. travel demand, sending its shares down about 9% in trading after the bell. Larger rival Uber Technologies, which offers ride-hailing, food and grocery delivery business globally, issued an upbeat forecast for the third-quarter earlier in the day, thanks to its efforts to boost engagement across its unified platform. Lyft's revenue of $1.59 billion in the second quarter missed estimates of $1.61 billion, according to data compiled by LSEG. The company recently completed its nearly $200 million acquisition of European mobility platform FreeNow and has signed a deal with China's Baidu to introduce the search engine giant's robotaxis in the region. Lyft on Wednesday also announced a partnership, set to launch later this year, with United Airlines that will allow the carrier's customers to earn rewards on all Lyft rides. With partnerships including DoorDash and Chase already in place, Lyft's entry into Europe positions the company to extend such collaborations into international markets. Lyft said it expects gross bookings to be between $4.65 billion and $4.80 billion for the third quarter, well above estimates of $4.59 billion. With growth stagnating in major U.S. metros, ride-hailing companies are shifting their focus to medium and smaller car-dependent cities to tap into new markets and drive revenue. Lyft recorded an adjusted core earnings of $129.4 million in the second quarter, above the average estimate of $124.5 million. It forecast current-quarter core earnings of $125 million to $145 million, largely in line with Wall Street estimates.
