Latest news with #Non-U.S.
Time Out
3 days ago
- Time Out
These are the worst U.S. airports for international travel this summer
Flying internationally involves a bit more preparation as well as time spent in the airport. As we get into peak summer travel season, clearing customs and immigration could take even more time as checkpoints face backups. Just as some major airports are known for more hassle than others, some have longer wait times at immigration checkpoints than others. New data from U.S. Customs and Border Protection reveals the worst airports for international travel, where you'll likely wait far longer to clear immigration. Los Angeles International Airport (LAX) comes in as the number one worst airport for international travel. Average wait to reach a Customs and Border Protection agent? 31.8 minutes. Non-U.S. citizens can expect 43.7 minutes in line, and 12.8% of all travelers find themselves stuck for over an hour. Chicago O'Hare (ORD) is just as bad. The overall average wait time here is a fraction of a second faster, at 31.7 minutes. U.S. citizens can expect an average wait of 27.3 minutes, while non-U.S. citizens could face 40.3 minutes in line. ORD also has the highest percentage of travelers who wait more than an hour in line, at 13.6%. Nashville International (BNA) might have a much lower passenger volume, but it has surprisingly long wait times. Immigration waits average 31.1 minutes, with only 20.2% of travelers breezing through in under 15. On the flip side, airports known for their efficiency and speedy immigration lines include Palm Beach International (PBI) with an average wait time of 3.5 minutes, John Wayne Airport (SNA) at 6.4 minutes and Phoenix Sky Harbor (PHX) at 7.5 minutes. So if you're traveling internationally this summer and you have a choice in airports when returning, peruse the full report here. Even arrival times matter, as the worst delays hit between 10am and 3pm. Want to skip the wait altogether? Enroll in Global Entry. It includes TSA PreCheck and gets you into a fast lane at immigration via automated kiosks. U.S. airports with the longest immigration wait times: LAX, Los Angeles ORD, Chicago BNA, Nashville MCO, Orlando MSP, Minneapolis AUS, Austin IAH, Houston SFO, San Francisco SAN, San Diego JFK, New York
Yahoo
3 days ago
- Business
- Yahoo
Trump tariff push given new twist by court setback
By Samuel Indyk and Sarah Marsh (Reuters) -A U.S. trade court ruling that blocked most of President Donald Trump's tariffs and found he had overstepped his authority triggered some relief on financial markets on Thursday, while adding to the uncertainties weighing on the global economy. Among the United States' big trading partners, in the throes of negotiation with the Trump administration, Germany said it could not comment, as did the European Commission. "We ask for your understanding that we cannot comment on the legal proceedings in the U.S., as they are still ongoing," a spokesperson for Germany's economy ministry said. "We continue to hope that a mutually beneficial solution can be reached in the negotiations between the EU Commission and the U.S. government." Winners on financial markets included chip makers, banks, luxury stocks and auto industry, all hit hard by tariff-led disruptions. The U.S. dollar rallied 0.2% against the yen and 0.3% against the Swiss franc as currencies and assets that have benefited from the tariff-induced market turmoil fell. [MKTS/GLOB] Wall Street stock index futures rose by more than 1.5%. The trade court ruling on Wednesday dealt a blow to Trump's central policy of using tariffs to wring concessions from trading partners. His administration immediately said it will appeal and analysts said investors will remain cautious as the White House explores its legal avenues. If the court ruling holds, the president could deploy other trade laws to impose sector-specific levies as well as across-the-board and country-specific tariffs. Following a market revolt after his major tariff announcement on April 2, Trump paused most import duties for 90 days and said he would hammer out bilateral deals with trade partners. But apart from a pact with Britain this month, agreements remain elusive and the court's stay on the tariffs may dissuade countries like Japan from rushing into deals, analysts said. Another pause in Trump's stop-start trade policy could be helpful to opponents of his tariffs and to traders who relish volatility. "Assuming that an appeal does not succeed in the next few days, the main win is time to prepare, and also a cap on the breadth of tariffs – which can't exceed 15% for the time being," George Lagarias, chief economist at Forvis Mazars international advisers, said. TURMOIL Trump's trade war has shaken makers of everything from luxury handbags and sneakers to household appliances and cars as the price of raw materials has risen, supply chains have been disrupted and company strategies redrafted. Drinks company Diageo, automakers General Motors and Ford are among those who have abandoned forecasts for the year ahead. Non-U.S. companies including Honda, Campari and pharmaceutical companies Roche and Novartis have said they are considering moving operations or expanding their U.S. presence to mitigate the impact of tariffs. As markets assessed the latest twist in the trade upheaval, European export-sensitive sectors, such as autos and luxury stocks, were among leading gainers on Thursday. The pan-continental STOXX 600 was up 0.4%, while France's CAC 40, which has a heavy weighting of luxury and bank stocks, rose 0.8%. Overall sentiment was also lifted by strong results late on Wednesday from AI bellwether Nvidia. Spot gold declined for a fourth straight day, while U.S. Treasury yields rose. Bond yields move inversely with prices. But the gains in shares may be short-lived, analysts said, with those who relish risk making the most of them. "I think we are in a period of higher volatility - we will get some more spikes on the way, I think. But volatility is the friend of the active investors," Kevin Barker, global head of active equities, UBS Asset Management, told a media briefing.
Straits Times
3 days ago
- Business
- Straits Times
US ruling that Trump tariffs are unlawful stirs relief and uncertainty
FILE PHOTO: U.S. President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, D.C., U.S., April 2, 2025. REUTERS/Carlos Barria/File Photo FILE PHOTO: A U.S. flag flutters near shipping containers as a ship is unloaded at the Port of Los Angeles, in San Pedro, California, U.S., May 1, 2025. REUTERS/Mike Blake/File Photo US ruling that Trump tariffs are unlawful stirs relief and uncertainty A U.S. trade court ruling that blocked most of President Donald Trump's tariffs and found he had overstepped his authority triggered some relief on financial markets on Thursday, while adding to the uncertainties weighing on the global economy. Among the United States' big trading partners, in the throes of negotiation with the Trump administration, Germany said it could not comment, as did the European Commission. "We ask for your understanding that we cannot comment on the legal proceedings in the U.S., as they are still ongoing," a spokesperson for Germany's economy ministry said. "We continue to hope that a mutually beneficial solution can be reached in the negotiations between the EU Commission and the U.S. government." Winners on financial markets included chip makers, banks, luxury stocks and auto industry, all hit hard by tariff-led disruptions. The U.S. dollar rallied 0.2% against the yen and 0.3% against the Swiss franc as currencies and assets that have benefited from the tariff-induced market turmoil fell. Wall Street stock index futures rose by more than 1.5% The trade court ruling on Wednesday dealt a blow to Trump's central policy of using tariffs to wring concessions from trading partners. His administration immediately said it will appeal and analysts said investors will remain cautious as the White House explores its legal avenues. Following a market revolt after Trump's major tariff announcement on April 2, the U.S. president paused most import duties for 90 days and said he would hammer out bilateral deals with trade partners. But apart from a pact with Britain this month, agreements remain elusive and the court's stay on the tariffs may dissuade countries like Japan from rushing into deals, analysts said. Another pause in Trump's stop-start trade policy could be helpful to opponents of his tariffs and to traders who relish volatility. "Assuming that an appeal does not succeed in the next few days, the main win is time to prepare, and also a cap on the breadth of tariffs – which can't exceed 15% for the time being," George Lagarias, chief economist at Forvis Mazars international advisers, said. TURMOIL Trump's trade war has shaken makers of everything from luxury handbags and trainers to household appliances and cars as the price of raw materials has risen, supply chains have been disrupted and company strategies redrafted. Drinks company Diageo, automakers General Motors and Ford are among those who have abandoned forecasts for the year ahead. Non-U.S. companies including Honda, Campari and pharmaceutical companies Roche and Novartis have said they are considering moving operations or expanding their U.S. presence to mitigate the impact of tariffs. As markets assessed the latest twist in the trade upheaval, European export-sensitive sectors, such as autos and luxury stocks, were among leading gainers on Thursday. The pan-continental STOXX 600 was up 0.4%, while France's CAC 40, which has a heavy weighting of luxury and bank stocks, rose 0.8%. Overall sentiment was also lifted by strong results late on Wednesday from AI bellwether Nvidia. Spot gold declined for a fourth straight day, while U.S. Treasury yields rose. Bond yields move inversely with prices. But the gains in shares may be short-lived, analysts said, with those who relish risk making the most of them. "I think we are in a period of higher volatility - we will get some more spikes on the way, I think. But volatility is the friend of the active investors," Kevin Barker, global head of active equities, UBS Asset Management, told a media briefing. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
3 days ago
- Business
- The Star
US ruling that Trump tariffs are unlawful stirs relief and uncertainty
FILE PHOTO: U.S. President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, D.C., U.S., April 2, 2025. REUTERS/Carlos Barria/File Photo (Reuters) -A U.S. trade court ruling that blocked most of President Donald Trump's tariffs and found he had overstepped his authority triggered some relief on financial markets on Thursday, while adding to the uncertainties weighing on the global economy. Among the United States' big trading partners, in the throes of negotiation with the Trump administration, Germany said it could not comment, as did the European Commission. "We ask for your understanding that we cannot comment on the legal proceedings in the U.S., as they are still ongoing," a spokesperson for Germany's economy ministry said. "We continue to hope that a mutually beneficial solution can be reached in the negotiations between the EU Commission and the U.S. government." Winners on financial markets included chip makers, banks, luxury stocks and auto industry, all hit hard by tariff-led disruptions. The U.S. dollar rallied 0.2% against the yen and 0.3% against the Swiss franc as currencies and assets that have benefited from the tariff-induced market turmoil fell. Wall Street stock index futures rose by more than 1.5% The trade court ruling on Wednesday dealt a blow to Trump's central policy of using tariffs to wring concessions from trading partners. His administration immediately said it will appeal and analysts said investors will remain cautious as the White House explores its legal avenues. Following a market revolt after Trump's major tariff announcement on April 2, the U.S. president paused most import duties for 90 days and said he would hammer out bilateral deals with trade partners. But apart from a pact with Britain this month, agreements remain elusive and the court's stay on the tariffs may dissuade countries like Japan from rushing into deals, analysts said. Another pause in Trump's stop-start trade policy could be helpful to opponents of his tariffs and to traders who relish volatility. "Assuming that an appeal does not succeed in the next few days, the main win is time to prepare, and also a cap on the breadth of tariffs – which can't exceed 15% for the time being," George Lagarias, chief economist at Forvis Mazars international advisers, said. TURMOIL Trump's trade war has shaken makers of everything from luxury handbags and trainers to household appliances and cars as the price of raw materials has risen, supply chains have been disrupted and company strategies redrafted. Drinks company Diageo, automakers General Motors and Ford are among those who have abandoned forecasts for the year ahead. Non-U.S. companies including Honda, Campari and pharmaceutical companies Roche and Novartis have said they are considering moving operations or expanding their U.S. presence to mitigate the impact of tariffs. As markets assessed the latest twist in the trade upheaval, European export-sensitive sectors, such as autos and luxury stocks, were among leading gainers on Thursday. The pan-continental STOXX 600 was up 0.4%, while France's CAC 40, which has a heavy weighting of luxury and bank stocks, rose 0.8%. Overall sentiment was also lifted by strong results late on Wednesday from AI bellwether Nvidia. Spot gold declined for a fourth straight day, while U.S. Treasury yields rose. Bond yields move inversely with prices. But the gains in shares may be short-lived, analysts said, with those who relish risk making the most of them. "I think we are in a period of higher volatility - we will get some more spikes on the way, I think. But volatility is the friend of the active investors," Kevin Barker, global head of active equities, UBS Asset Management, told a media briefing. (Reporting by Summer Zhen, Samuel Indyk and Sarah Marsh; Writing by Barbara Lewis; Editing by Catherine Evans)
Yahoo
3 days ago
- Business
- Yahoo
US ruling that Trump tariffs are unlawful stirs relief and uncertainty
By Samuel Indyk and Sarah Marsh (Reuters) -A U.S. trade court ruling that blocked most of President Donald Trump's tariffs and found he had overstepped his authority triggered some relief on financial markets on Thursday, while adding to the uncertainties weighing on the global economy. Among the United States' big trading partners, in the throes of negotiation with the Trump administration, Germany said it could not comment, as did the European Commission. "We ask for your understanding that we cannot comment on the legal proceedings in the U.S., as they are still ongoing," a spokesperson for Germany's economy ministry said. "We continue to hope that a mutually beneficial solution can be reached in the negotiations between the EU Commission and the U.S. government." Winners on financial markets included chip makers, banks, luxury stocks and auto industry, all hit hard by tariff-led disruptions. The U.S. dollar rallied 0.2% against the yen and 0.3% against the Swiss franc as currencies and assets that have benefited from the tariff-induced market turmoil fell. Wall Street stock index futures rose by more than 1.5% The trade court ruling on Wednesday dealt a blow to Trump's central policy of using tariffs to wring concessions from trading partners. His administration immediately said it will appeal and analysts said investors will remain cautious as the White House explores its legal avenues. Following a market revolt after Trump's major tariff announcement on April 2, the U.S. president paused most import duties for 90 days and said he would hammer out bilateral deals with trade partners. But apart from a pact with Britain this month, agreements remain elusive and the court's stay on the tariffs may dissuade countries like Japan from rushing into deals, analysts said. Another pause in Trump's stop-start trade policy could be helpful to opponents of his tariffs and to traders who relish volatility. "Assuming that an appeal does not succeed in the next few days, the main win is time to prepare, and also a cap on the breadth of tariffs – which can't exceed 15% for the time being," George Lagarias, chief economist at Forvis Mazars international advisers, said. TURMOIL Trump's trade war has shaken makers of everything from luxury handbags and trainers to household appliances and cars as the price of raw materials has risen, supply chains have been disrupted and company strategies redrafted. Drinks company Diageo, automakers General Motors and Ford are among those who have abandoned forecasts for the year ahead. Non-U.S. companies including Honda, Campari and pharmaceutical companies Roche and Novartis have said they are considering moving operations or expanding their U.S. presence to mitigate the impact of tariffs. As markets assessed the latest twist in the trade upheaval, European export-sensitive sectors, such as autos and luxury stocks, were among leading gainers on Thursday. The pan-continental STOXX 600 was up 0.4%, while France's CAC 40, which has a heavy weighting of luxury and bank stocks, rose 0.8%. Overall sentiment was also lifted by strong results late on Wednesday from AI bellwether Nvidia. Spot gold declined for a fourth straight day, while U.S. Treasury yields rose. Bond yields move inversely with prices. But the gains in shares may be short-lived, analysts said, with those who relish risk making the most of them. "I think we are in a period of higher volatility - we will get some more spikes on the way, I think. But volatility is the friend of the active investors," Kevin Barker, global head of active equities, UBS Asset Management, told a media briefing.
