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Yahoo
6 days ago
- Business
- Yahoo
Price Trumps 'Made In USA' Labels As Tariffs Affect Consumer Choice
Key Takeaways A new survey showed that consumers are less likely to emphasize where a product is made. U.S. consumers are 18% less likely to prioritize buying American-made products than they were three years ago. Consumer loyalty to products made in other countries also declined. The survey showed that price-conscious consumers are more likely to look for value than focus on where the product is made.'Made in the U.S.A.' labels may appeal less to consumers as rising tariff costs are changing people's attitudes about where products are made. A new study by The Conference Board found consumers are now less likely to purchase a product based on where it's made, even if it's in the U.S. The June survey of 3,000 U.S. adults found that 50% said they were more likely to buy American-made products, down from 60% in a similar survey from 2022. It's not just American-made products, either. Consumer loyalty was lower for products made in every country included in the survey. The sentiment shift comes as President Donald Trump instituted a series of tariffs that he said would help boost American manufacturing, potentially enabling businesses to offer more products made domestically. However, price-conscious buyers are more focused on a product's price than where it's made, the report found. 'As price concerns intensify, many U.S. consumers appear to associate 'made in' labels with elevated prices due to generally higher domestic production costs as well as tariffs on foreign-made goods,' said Denise Dahlhoff, director of marketing and communications research at The Conference Board. 'Increasingly, consumers prioritize value and affordability over emotional affinity for certain countries, including their own.' Support for American-Made Products Drops for Older Buyers Support for American-made products dropped across almost every age group and demographic category, with those younger than 35 being the only group more likely to buy American-made products than they were three years ago. Notably, customers older than 55 were among the most likely to lose support for buying products with the 'Made in the U.S.A.' label, dropping 22 percentage points from three years ago. American-made products were most popular with middle-income consumers; those making between $50,000 and $125,000 a year were most likely to purchase domestically produced goods. Read the original article on Investopedia Sign in to access your portfolio
The Independent
12-08-2025
- Business
- The Independent
Trump wants people to buy American. Interest in doing so is plummeting, new poll finds
U.S. consumers are now significantly less interested in buying American-made goods than they were three years ago, according to a new survey. In a report released last week, the Conference Board — a business research nonprofit — said the share of consumers expressing a preference for products "made in the USA" went down from 60 percent in May 2022 to 50 percent this June. The survey asked 3,000 people whether being told that a product they had previously bought and enjoyed was manufactured in various countries would make them more likely to buy it again. Although the U.S. still scored highest on that question, both it and every other country had lost ground, suggesting today's consumers are less compelled by country of origin in general. It comes as President Donald Trump attempts to pressure consumers into buying American via new tariffs on foreign goods, while pressing other countries to import more from the U.S. According to the report's author Denise Dahlhoff, the Trump administration's efforts seem to be having the opposite effect. "Country-of-origin cues still matter — but their influence is slipping," she said. 'As price concerns intensify, many U.S. consumers appear to associate 'made in' labels with elevated prices due to generally higher domestic production costs as well as tariffs on foreign-made goods. "Increasingly, consumers prioritize value and affordability over emotional affinity for certain countries, including their own." In other words, consumers are feeling more hard up and worried about price, perhaps leading them to associate "made in" labels with more expensive products. The U.S.'s score dropped by 18 percent, but that was far from the largest since 2022. Ukraine suffered the biggest decline at 51 percent, with India (49 percent) and Russia (40 percent) close behind. There was also a marked difference in support for U.S.-made items between Republicans and Democrats — 66 percent versus 42 percent — and between poorer and middle income people (42 percent versus 66 percent).
New York Times
07-08-2025
- Business
- New York Times
Watches ‘Made in USA.' Well, Almost.
On a hazy morning in mid-June, John Warren, the chief executive and general counsel of Cornell Watch Company in Chicago, took a seat at a coffee shop in the city's Sherman Oaks neighborhood and placed the brand's newest timepiece, called the Lozier, on the table. 'Everything on the watch that you see and touch — other than the crystal, which is from Tokyo — we mill on a Kern five-axis CNC machine in Ohio,' Mr. Warren said of the $6,200 model. 'Then we hand finish everything. Final assembly occurs in Asheville, N.C., by two certified watchmakers.' To most people, that description may sound unremarkable. But within the luxury watch industry, Mr. Warren's comments would likely raise eyebrows. In the late 19th and early 20th centuries, the United States dominated the global watch trade thanks to its mastery of mass production. But by the time World War II had ended, the domestic watch factories, which had mobilized to join the war effort, could no longer compete with the Swiss. By the 1960s, no one was making an entire watch in the United States. Until 2023, anyway. That year, J.N. Shapiro, an independent brand in Torrance, Calif., released what it called its 'California-made' Resurgence watch. The model, priced at $70,000 to $85,000, featured a guilloché, or engraved, dial, the signature element of the watchmaker Joshua Nathan Shapiro. Mr. Shapiro's accomplishment reflected a broad shift in American watchmaking — one that largely began well before President Trump's recent threats of tariffs on imported goods. The boom in independent watchmaking in the past five years or so has made it easier and more enticing for American brands such as Cornell — a storied pocket watchmaker founded in 1870 and revived in 2023, when Mr. Warren acquired the rights to its name — to produce timepieces in the country. Want all of The Times? Subscribe.
Associated Press
04-08-2025
- Automotive
- Associated Press
CycleSafe Sets Bar High With Continuous Improvement, Innovation
CycleSafe sets the standard in secure, American-made bike lockers—built to last, tech-ready, and trusted by communities around the world since 1980. GRAND RAPIDS, MI, UNITED STATES, August 4, 2025 / / -- CycleSafe Sets Bar High With Continuous Improvement, Innovation West Michigan company leads the industry with durable, American-made products designed to last for decades Since 1980, CycleSafe, Inc. has continued to innovate and raise the bar for secure bike parking products. With a full line of bicycle storage solutions proudly made in America and used around the world, the company remains a leader in the field it helped create. CycleSafe is best known for pioneering the modern bike locker, earning its first patent in 1976. Today, it remains the only bicycle locker company to utilize SMC, a sheet molding composite with the strength of structural steel that is impervious to rust, dents, and extreme weather conditions. 'Our differentiation from anybody else on the market is that we have extreme lifetime goals for our products,' says Hannah Hartger, CycleSafe's Vice President. 'We still have a product that is from our first manufacturing run on the street right now, being used 45 years later.' Durable Designs for Every Application CycleSafe's products are designed to meet the diverse needs of cities, campuses, and businesses with long-term and short-term parking solutions. The company's product offerings include: Temporary, short-term solutions with contemporary or classic bike rack designs Fully enclosed and secure bicycle lockers for long-term commuters Space-saving vertical bike storage Hi-Density Racks WallRacks Weather-protected bicycle shelters The ProPark Bike Locker system remains CycleSafe's flagship product. Available as a single unit or as part of an expandable locker bank, it can accommodate anywhere from four to 56 bikes and supports a variety of lock types, from keyed T-handles to app-based smart locks. 'The most unique trait of our lockers is that they are composed of five main pieces that fit together like Legos,' says Hannah. 'This allows easy locker expansion, swapping of damaged parts instead of replacement, and a seamless bank design. It's a design that continues to be ahead of its time.' Commitment to Continuous Improvement In its early years, CycleSafe tested 13 different families of materials before selecting fiberglass SMC for its unmatched performance, durability, and long-term value. 'We design our products to last, with almost no end of useful life,' Hannah says. 'We've gotten very good at solving problems before they even occur. The lifespan of our products speaks to that diligent work.' Among the company's most innovative advancements are its end panels, which have evolved from spray-up fiberglass designs to modern, modular panels that increase strength, manufacturing efficiency, and visual appeal. Today's panels can include: Recesses for logos and branding Printed graphics, wayfinding, or transit maps Digital display screens for ads or user messaging GFI outlets for safe e-bike charging, with daisy-chain wiring across locker banks These improvements are fully backward compatible, making it easy to retrofit lockers built in the 1980s and 1990s with today's technology. Meeting Evolving Market Needs CycleSafe's products are used in a wide range of markets, including corporations, municipal centers, universities, hospitals, transit hubs, multi-family housing, and more. With more cities implementing bike parking codes and e-bike usage on the rise, secure and scalable solutions are in high demand. 'For example, the rise in adaptation of e-bikes has brought a lot of attention to parking—especially with fire risks,' Hannah explains. 'Our lockers offer a safe way to store and charge e-bikes outside of buildings, in enclosures made from self-extinguishing material.' CycleSafe's modular locker design allows older models to be upgraded with smart features such as keypad locks, RFID, or app-enabled access. 'When the next decade brings new technology around, we're ready for it with easy, cost-effective solutions for our customers,' Hannah says. Proudly Made in West Michigan CycleSafe partners with manufacturers and vendors across the Midwest, especially near its Ada, Michigan headquarters. Production takes place in Spring Lake, Muskegon, and Grand Haven, with warehousing in Holland. The region's history in automotive and furniture manufacturing gives the company access to top-quality partners. 'There's a high bar set when working in the automotive supply chain or with legacy furniture manufacturers,' Hannah says. 'We're really lucky to have access to such high-quality partners – some of which we've worked with for over 25 years.' The company is 100% Buy America certified—every component is sourced and assembled in the United States. 'I always talk about how proud it makes me to have our products installed in communities all across the world, especially being such a small company,' Hannah says. 'The impact we have on those that use our products is great, it's a guaranteed ride home later. And the fact that the product supports local West Michigan jobs, to me, is the greatest impact of all.' Amber Vlietstra Revel [email protected] Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
02-08-2025
- Automotive
- Yahoo
Are You Eligible for Trump's Auto Loan Deduction? Here's Who Qualifies
President Donald Trump's 'One Big Beautiful Bill,' which he signed on July 4, 2025, included some welcomed relief for eligible new car buyers, who are facing high purchase prices and interest rates. From 2025 to 2028, you may qualify to deduct as much as $10,000 annually in car loan interest on your federal tax return. Read Now: Find Out: A recent IRS fact sheet broke down the key vehicle, taxpayer and loan requirements for this new deduction. Whether you recently bought a vehicle or are looking for one, find out how to qualify and how much your potential tax savings could be. Does Your Vehicle Qualify? This deduction applies only if your new (not used) vehicle meets all of these rules: It was assembled at the final stage at a U.S. plant. Its gross weight is below 14,000 pounds. It has two or more wheels and is suitable for driving on public roads. It doesn't have a salvage title. It's an eligible vehicle type, such as a motorcycle, SUV, car, pickup truck or van. Eligible makes and models vary. As of April 2025, CarEdge listed 117 American-made vehicles from makers such as Chevrolet, Tesla, Nissan, Ford, Volkswagen, Hyundai, Mazda, Jeep, Honda, GMC, Toyota and Volvo. Since the final assembly location is what matters, even international brands can qualify. If you're shopping for a car, you can ask local dealerships, many of which are already advertising the deduction, or you can research U.S.-manufactured options online. The United Auto Workers website also noted that a U.S.-manufactured vehicle will have a vehicle identification number (VIN) that begins with the digit 1, 4 or 5. Discover Next: What Are the Taxpayer Rules? Similar to the student loan interest deduction, the new auto loan interest deduction is available whether you itemize or take the standard deduction, and you can't exceed the modified adjusted gross income (MAGI) limit for your filing status. To get the maximum auto loan interest deduction, your MAGI can't be above $200,000 if you're a joint filer or $100,000 if you use another filing status. According to the bill's text, there's still a partial deduction with a MAGI of up to $250,000 for joint filers and $150,000 for other filers; the reduction is $200 per $1,000 of your MAGI exceeding the base threshold. What Are the Financing Rules? Even if you meet the taxpayer and vehicle rules, you'll need to make sure your loan qualifies. Specifically, you must have taken out your loan after December 31, 2024, and it must be a personal vehicle loan where you used the vehicle as collateral. So, if your family gave you a loan to buy an eligible car or you got an unsecured personal loan from the bank, you can't deduct the interest. The same is true if you took out a loan to buy a vehicle for commercial use, leased the car or financed a vehicle you planned to use for parts. If you financed or leased a business vehicle, you might qualify for a different tax break via a business expense deduction. You can get the details in IRS Publication 463. How Big Could Your Deduction Be? If you're eligible for this deduction, your potential tax savings will depend on your tax bracket, the amount of auto loan interest you paid and your MAGI. Keep in mind that the deduction lowers your taxable income and isn't a credit that directly lowers your tax liability. For example, if you pay the maximum $10,000 in annual auto loan interest, have a MAGI low enough for the full deduction and fall in the 22% tax bracket, you could save $2,200 that year. But the most someone in the 10% tax bracket could save is $1,000. CBS News noted that you'll likely see smaller deductions after the first year due to how banks frontload interest. You may also qualify for extra savings of up to $7,500 if your new vehicle is eligible for the federal EV credit. While the 'One Big Beautiful Bill' cut this tax perk, it remains available for eligible vehicles bought through September 2025. How To Claim the Deduction The IRS has provided few details so far on reporting auto loan interest on your next tax return, but it noted that you will have to provide your vehicle's VIN. You can also expect your auto lender to send a tax document showing the interest paid. The IRS should provide more details closer to tax season. More From GOBankingRates 6 Big Shakeups Coming to Social Security in 2025 This article originally appeared on Are You Eligible for Trump's Auto Loan Deduction? Here's Who Qualifies 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
