Latest news with #DonaldTrump-imposed
Hindustan Times
29-04-2025
- Business
- Hindustan Times
Trump tariff impact: Adidas freezes 2025 outlook despite strong first quarter
Adidas AG has opted not to raise its financial targets for 2025, even after posting stronger-than-expected first-quarter profits, due to the rising concerns over US President Donald Trump-imposed trade tariffs. The tariffs imposed by the United States will raise prices on consumers in the world's biggest sports market and could upend the German brand's momentum. 'Cost increases due to higher tariffs will eventually cause price increases, not only in our sector, but it is currently impossible to quantify these or to conclude what impact this could have on the consumer demand for our products,' Chief Executive Bjoern Gulden said in the statement, which expanded on last week's preliminary report of surprisingly robust earnings. Also Read | China's foreign minister warns against appeasing US 'bully' amid Trump tariff threats The German sportswear giant acknowledged that under normal circumstances, it would have upgraded its full-year outlook given the solid start to the year. 'We therefore stick to our original outlook but admit that there are uncertainties that could put negative pressure on this later in the year,' he said. Also Read | 2 Atlantic reporters got a 'butt dial' from Trump after he turned down their interview. Here's what happened next Unexpectedly high US import levies on Southeast Asian countries such as Vietnam and Indonesia, now paused until July, have blindsided sportswear makers, which had relied on supplies from those countries to mitigate the impact of US tariffs on goods from China. In March, Adidas said it expects to generate operating profit of €1.7 billion to €1.8 billion this year, which disappointed investors. It also forecast currency-neutral sales to grow at a high-single-digit rate. Also Read | Mark Carney's 1st reaction after Canada election win: 'Trump trying to break us' Adidas is still benefiting from its two-year hot streak for classic sneaker models including the Samba and Gazelle, which helped it take market share from industry leader Nike Inc. Gulden has projected confidence that the buzz is helping Adidas pull in new customers for apparel and performance sports gear. Meanwhile, the company is trying to extend the trend into other sneaker models, including the thin-soled Tokyo and Taekwondo. (with Bloomberg inputs)
The Guardian
27-02-2025
- Politics
- The Guardian
Educator coalition sues to block Trump anti-diversity orders: ‘A grave attack'
A coalition of educators has filed a lawsuit to block the US Department of Education from enforcing new Donald Trump-imposed civil rights guidelines that target a range of practices related to diversity, equity and inclusion (DEI). The lawsuit, filed in federal court in Maryland, is brought by the American Federation of Teachers (AFT), AFT-Maryland, and the American Sociological Association. It is a response to a letter given to schools by the department on 14 February, citing the US supreme court's 2023 decision in Students for Fair Admissions v Harvard, which it interprets as banning the practice of race-conscious admissions and policies in higher education. But the guidance outlined in the letter goes 'well beyond' the supreme court's ruling, according to AFT's lawsuit, 'both in terms of the activities that the Letter prohibits and the settings to which it applies'. 'This vague and clearly unconstitutional memo is a grave attack on students, our profession and knowledge itself,' Randi Weingarten, the AFT president, said in a statement. 'It would hamper efforts to extend access to education, and dash the promise of equal opportunity for all, a central tenant of the United States since its founding.' Historical events that could be banned from being taught in schools should the new guidance be enforced include education on slavery, the Emancipation Proclamation, the forced relocation of Native American tribes, the laws of Jim Crow and the Civil Rights Act, according to AFT. 'Federal statute already prohibits any president from telling schools and colleges what to teach,' it added. 'And students have the right to learn without the threat of culture wars waged by extremist politicians hanging over their heads.' This is not the first lawsuit to result from institutions wanting to push back against anti-DEI initiatives. Earlier this month, education groups, including the American Association of University Professors, sued the Trump administration for executive orders that threaten to suspend funding to institutions because of their DEI policies. Last week, a federal judge in Maryland temporarily blocked Trump from implementing bans on DEI programs at federal agencies and businesses that contract with the federal government.
