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Int'l Business Times
19-05-2025
- Business
- Int'l Business Times
White House Insists China 'Will Be Absorbing' Tariff Costs Despite Treasury Secretary Admitting Burden 'May Get Passed to Consumers'
White House Press Secretary Karoline Leavitt insisted on Monday that China "will be absorbing" the cost of tariffs on its exports despite U.S. Treasury Secretary Scott Bessent previously admitting the burden "may get passed to consumers." Over the weekend, President Donald Trump wrote in a Truth Social post that "Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain" after the company's CEO revealed during an earnings call days prior that, "given the magnitude of the tariffs," the company will be raising prices. "Between Walmart and China they should, as is said, 'EAT THE TARIFFS,' and not charge valued customers ANYTHING," Trump continued. "I'll be watching, and so will your customers!!!" he added. World Bank President David Malpass attends the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. Reuters When asked whether the president's remarks signaled an acknowledgment that Americans would bear the cost of tariffs not absorbed by companies, Leavitt firmly rejected the idea. "First of all, the CEO of Walmart made those comments about the tariffs on an earnings call where CEOs, I believe, are legally obligated to give the most dire warnings and forecasts to their investors and stakeholders," Leavitt stated during Monday's press briefing. "The reality is, as the president has always maintained, Chinese producers will be absorbing the costs of these tariffs and that is why China was so quick to hustle to the negotiating table with the United States of America," she continued. "They need our markets. They need our consumers," Leavitt added in a clip shared by journalist Aaron Rupar on X. Originally published on Latin Times
Reuters
01-05-2025
- Business
- Reuters
Charles Schwab CEO sees 'pullback in risk taking' in April
Investors have responded to recent market turmoil in April by dialing down the level of risk they are taking and making some shifts in their asset allocation in favor of bonds and non-U.S. stocks, said Charles Schwab CEO Rick Wurster in a Reuters NEXT Newsmaker interview on Thursday (May 1).
Yahoo
01-05-2025
- Business
- Yahoo
Charles Schwab CEO says investors are 'de-risking' and diversifying
By Lananh Nguyen and Suzanne McGee NEW YORK (Reuters) -Investors have responded to the market turmoil throughout April by dialing down the level of risk they are taking and making some shifts in their asset allocation in favor of bonds and non-U.S. stocks, says Charles Schwab CEO Rick Wurster. "Most investors are staying the course," Wurster said in a Reuters NEXT Newsmaker interview on Thursday morning. Still, 61% of clients reported feeling bearish during April, according to a poll conducted that month, compared to only 32% in a similar poll during the first quarter of 2025, data from Schwab showed. Trading volumes, which hit record levels early in April following U.S. President Donald Trump's tariffs announcement, tapered off as the month progressed, but client engagement levels remained high, Wurster said. "We set an all-time record" for calls and online contacts with clients during the heightened volatility, he said. Overall, Wurster said few clients made dramatic adjustments to their asset allocations in April but that those whose portfolios included non-U.S. stocks, bonds and some commodities noted they benefited from that diversification. Sign in to access your portfolio
Reuters
01-05-2025
- Business
- Reuters
Charles Schwab CEO says investors are 'de-risking' and diversifying
NEW YORK, May 1 (Reuters) - Investors have responded to the market turmoil throughout April by dialing down the level of risk they are taking and making some shifts in their asset allocation in favor of bonds and non-U.S. stocks, says Charles Schwab CEO Rick Wurster. "Most investors are staying the course," Wurster said in a Reuters NEXT Newsmaker interview on Thursday morning. Still, 61% of clients reported feeling bearish during April, according to a poll conducted that month, compared to only 32% in a similar poll during the first quarter of 2025, data from Schwab showed. Trading volumes, which hit record levels early in April following U.S. President Donald Trump's tariffs announcement, tapered off as the month progressed, but client engagement levels remained high, Wurster said. "We set an all-time record" for calls and online contacts with clients during the heightened volatility, he said. Overall, Wurster said few clients made dramatic adjustments to their asset allocations in April but that those whose portfolios included non-U.S. stocks, bonds and some commodities noted they benefited from that diversification.
Reuters
31-03-2025
- Business
- Reuters
NEWSMAKER IMF's Georgieva: Recession not on the horizon despite tariff worries
WASHINGTON, March 31 (Reuters) - U.S. President Donald Trump's push for sweeping tariffs is creating great uncertainty and denting confidence but is not likely to trigger a near-term recession, International Monetary Fund Managing Director Kristalina Georgieva said on Monday. "We are not seeing a dramatic impact" yet from the tariffs implemented and threatened so far by Trump since his return to the White House, Georgieva said in a Reuters NEXT Newsmaker interview. The IMF will likely slightly lower the economic outlook in its next World Economic Outlook update in about three weeks, but "we don't see recession on the horizon."
