Latest news with #RamGaneshan
Yahoo
10-03-2025
- Business
- Yahoo
Walmart and Warren Buffett on tariffs, a Target boycott, Starbucks layoffs: Business news roundup
President Donald Trump's tariffs on imports of foreign goods have already begun, and more are on the way, likely forcing some businesses to raise prices. Read More With 25% tariffs on goods from Canada and Mexico now a reality, economists predict that prices for some supermarket staples will rise. 'Prices on everything from avocados to tequila are set to rise as new tariffs on imports from Canada and Mexico take effect,' says Ram Ganeshan, professor of operations and supply chain at William & Mary's Raymond A. Mason School of Business. Read More Like Walmart, Best Buy (BBY) is learning from the competition by taking a page out of Amazon's playbook. Best Buy plans to launch a new U.S.-based marketplace later this year, CEO Corie Barry said during the company's March 4 earnings call. The move aims to expand the company's 'profitability stream opportunities,' she added. Read More Starbucks CEO Brian Niccol wants corporate employees to work harder and take accountability for the coffee giant's financial health. Speaking to staff in Seattle in his first address since announcing layoffs last month, Niccol pointed out that inefficiencies in the company's operations and decision-making processes have contributed to recent struggles. 'We're not effective,' he said. Read MoreWhile many companies have announced plans to roll back DEI policies in the past couple of months, fewer have paid a higher price than Target (TGT). The Minneapolis-based retailer had been very vocal in support of DEI efforts after the police killing of George Floyd in 2020 and their pausing of efforts has caused a backlash. Read More Walmart is thriving among wealthier shoppers, but for lower-income customers, the situation is more challenging, according to CEO Doug McMillion. Speaking at the Economic Club of Chicago on Feb. 27, McMillion explained that persistent high food prices are causing 'frustration and pain' for many shoppers, particularly those 'at the lower end of that scale.' Read More Legendary investor Warren Buffett criticized planned U.S. tariffs on international trade partners, noting that the duties may hurt consumers. 'Tariffs are actually, we've had a lot of experience with them. They're an act of war, to some degree,' the Berkshire Hathaway (BRK.A) CEO told CBS News over the weekend. Read More The major U.S. automakers were given a one-month exemption from new tariffs on Canadian and Mexican imports, the Trump administration said Wednesday. Read More kinjavideo-197495 The president's duties on Canada are still in effect kinjavideo-197494 The pharma company announced today that it has begun two late-stage clinical trials for its experimental weight-loss drug, MariTide For the latest news, Facebook, Twitter and Instagram. Sign in to access your portfolio
Yahoo
04-03-2025
- Business
- Yahoo
10 foods that will cost more thanks to tariffs
With 25% tariffs on goods from Canada and Mexico now a reality, economists predict that prices for some supermarket staples will rise. 'Prices on everything from avocados to tequila are set to rise as new tariffs on imports from Canada and Mexico take effect,' says Ram Ganeshan, professor of operations and supply chain at William and Mary's Raymond A. Mason School of Business. 'With nearly half of U.S. imports of fruits and vegetables coming from Mexico and key products like meat, dairy, and alcoholic beverages imported from both countries, these tariffs will drive up costs across grocery aisles,' Ganeshan says. Here is a look at some of the products that are most likely to affect consumers' wallets. That avocado toast in the morning might get more expensive. According to the USDA, 47% of all fruits that came into the U.S. in 2023 did so through Mexico. According trade magazine The Packer, Mexican strawberries make up about 85% of strawberries found in the U.S. Look for prices to rise with the tariffs in place. According to the USDA, 76% of bell peppers that are sold in the U.S. are grown in Mexico, so look for these colorful favorites to cost more. According to Statista, the export value of fruits and nuts from Mexico to the United States amounted to $7.76 billion in 2023. Look for favorites like peanuts, pistachios and walnuts to go up in price. Mexican import Modelo (BUD) is the top-selling beer brand in the United States. One university professor predicts a 45-cent increase on a six-pack of Corona. And while larger brands might be able get away with smaller increases, smaller craft beers may be hit much harder. A large percentage of cooking oil sold in the U.S. is made in Mexico, so expect frying just about anything to become more expensive. According to NOAA Fisheries, the U.S. imported more than 79% of the seafood Americans consumed in 2020. Much of America's favorite seafood, from cod to tuna to snow crab, comes through Canadian fisheries. Drenching your pancakes with some bliss in a bottle is about to become pricier. Canada produces 71% of the world's pure maple syrup, 91% of which is produced in Quebec. Many dairy products sold in the U.S. come through Canada, Ganeshan says — so look for staples like butter to get more expensive. According to Western Producer, an industry trade magazine, 75 percent of Canada's beef was exported to the United States in 2023. Tariffs on those cross-border burgers, chops, and steaks will be felt in the supermarket. For the latest news, Facebook, Twitter and Instagram.
