Latest news with #StrategicIntelligence
Yahoo
18 hours ago
- Business
- Yahoo
US tariffs on steel and aluminium may lead to job losses in Canada
The Canadian metals industry faces significant challenges as higher US tariffs on steel and aluminium, now at 50%, threaten to result in job losses and lost sales, according to a Reuters report. Canada is the largest seller of steel and aluminum to the US. Unifor, Canada's private sector union, and the Aluminium Association of Canada have expressed serious concerns over the immediate impact of the tariffs. Unifor president Lana Payne was quoted by the news agency as saying: 'So this is going to have a very quick impact, I will say to you, on steel industry.' According to the report, members of the Aluminium Association of Canada, including Rio Tinto, are reportedly considering diversifying to Europe in response to the 50% tariffs. Nova Scotia-based Marid Industries CEO Tim Houtsma highlighted the impossibility of selling to the US market under these conditions, indicating a need for cost-watching and market exclusion fears. Prime Minister Mark Carney has announced that Canada is ready to retaliate if negotiations with the US fail. 'We are in intensive negotiations with the Americans, and, in parallel, preparing reprisals if those negotiations do not succeed,' he declared to the House of Commons. Unifor has urged immediate retaliation and suggested halting exports of critical minerals to the US. The union also warned of potential layoffs in the auto and aerospace industries. Canada imposed 25% tariffs on $21.79bn (C$29.78bn) worth of US imports in March. Meanwhile, the Mining Association of British Columbia's 2025 economic impact study highlights 27 advanced-stage mining projects in British Columbia that could inject more than $90bn into the economy, potentially creating thousands of jobs and generating significant tax revenues. Navigate the shifting tariff landscape with real-time data and market-leading analysis. Request a free demo for GlobalData's Strategic Intelligence . "US tariffs on steel and aluminium may lead to job losses in Canada" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
23-05-2025
- Business
- Yahoo
Trump Tariffs Impact on Power Sector Strategic Intelligence Report 2025: Focus on Solar, Wind, Energy Storage, Electric Vehicles and Hydrogen
Dublin, May 23, 2025 (GLOBE NEWSWIRE) -- The "Trump Tariffs and its impact on Power Sector - Strategic Intelligence" report has been added to report provides an overview on Trump tariffs and its impact on the power sector. Trumps tariff impact on its trading partners worldwide. Escalation on trade and tariffs between China and the US. It briefs about Trump's impact on offshore wind capacity. Trump's policies and tariffs effect on US offshore wind net annual tariff impact on energy transition technologies such solar, wind, energy storage, electric vehicles and The report focuses on Trump tariffs and its impact on the power sector. It highlights executive orders signed by Trump toward power sector. It provides an overview on offshore wind leases and its impact in the US offshore market. It briefs about electrical equipment trade between the US and Mexico and Canada. It focuses on how energy transition technologies will be impacted by Trump. Reasons to Buy The report discusses on the orders signed by Trump related to power sector that includes withdrawal of Paris Agreement, restrictions on wind project leases, imposing tariffs, termination of electric vehicles mandate, declaration of national energy emergency, lifting of oil, gas, and mineral production in Alaska. The report outlines Trump's impact on offshore wind capacity. It briefs about Trump's tariffs timeline. Provides an overview on Trump's impact on energy transition technologies. The report briefs about China and the US trade overview. An overview Chinese equipment manufacturer's exposure to the US. An outline on the US and China trade war escalation to rare earth metal. Key Topics Covered: Overview Paris agreement withdrawal Offshore wind lease restrictions Trump's impact on offshore wind power capacity Increase in gas-based generation under Trump administration Impact on Inflation Reduction Act (IRA) under Trump administration Imposing tariffs Trump's tariffs timeline overview Trump's tariffs impact on energy transition technologies US - China trade overview Chinese equipment manufacturers' exposure to the US US - China trade war escalates to rare earth metal Survey analysis on the impact of Trump's energy policies on renewables Contact the Publisher For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Target cuts sales outlook amid tariffs and DEI backlash
Target has reduced its annual sales forecast following a steeper-than-expected decline in quarterly same-store sales, citing reduced consumer spending due to inflation concerns and the economic impact of new tariffs introduced by President Donald Trump's administration. The retailer also acknowledged that public reaction to its rollback of diversity, equity and inclusion (DEI) policies earlier this year has negatively affected performance. Target reported a 3.8% drop in comparable sales for the first quarter, significantly below analyst expectations of a 1.08% decline. On an adjusted basis, earnings per share came in at $1.30, missing the forecast of $1.61. Executives pointed to weaker demand for non-essential categories such as apparel and homeware, sectors that rely heavily on imports from China. Inflation fears and growing economic uncertainty have caused consumers to cut back on discretionary purchases. CEO Brian Cornell said that while most tariff-related costs might be offset, raising prices could not be ruled out. Target is also working to reduce its dependence on Chinese suppliers, who currently account for 30% of the company's store-brand products. This figure is expected to fall below 25% by year-end, down from 60% in 2017. In January, Target scaled back several of its DEI initiatives, a move that coincided with an executive order from President Trump eliminating DEI requirements in federal institutions. The decision prompted criticism from some long-standing customers and civil rights advocates. Reverend Jamal-Harrison Bryant led a 40-day boycott of Target stores, coinciding with the fifth anniversary of George Floyd's death in Minneapolis, the city where Target is headquartered. Executives admitted that the DEI controversy had a tangible impact on customer behaviour in the first quarter, although they declined to specify the financial effect. Analysts have said the move risks alienating younger, more diverse shoppers, a demographic that has been key to Target's recent growth. Shares of Target fell 4% following the earnings announcement, extending a year-long decline of 40%. In contrast, competitors Walmart and Costco have seen significant gains over the same period. Market watchers noted that Target's struggles are compounded by ongoing issues such as merchandise missteps, inventory challenges and retail crime. The company now expects a low single-digit decline in annual sales, reversing its earlier forecast of around 1% growth. Annual adjusted earnings are projected to fall between $7.00 and $9.00 per share, down from the previous range of $8.80 to $9.80. Analysts warn that without a clear strategy to rebuild consumer trust and adapt to the new trade environment, Target may face continued pressure in an increasingly competitive retail landscape. Navigate the shifting tariff landscape with real-time data and market-leading analysis. Request a free demo for GlobalData's Strategic Intelligence . "Target cuts sales outlook amid tariffs and DEI backlash" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
21-05-2025
- Business
- Associated Press
Trump Tariffs and the Impact on the Power Sector
DUBLIN--(BUSINESS WIRE)--May 21, 2025-- The 'Trump Tariffs and its impact on Power Sector - Strategic Intelligence' report has been added to offering. Discover the impact of Trump tariffs on the power sector, particularly offshore wind capacity. This report explores executive orders affecting energy transition technologies such as solar, wind, and electric vehicles, and delves into trade escalations between the US, China, and North America. Report Scope Reasons to Buy Key Topics Covered: For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. View source version on CONTACT: Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 KEYWORD: INDUSTRY KEYWORD: ALTERNATIVE ENERGY ENERGY WHITE HOUSE/FEDERAL GOVERNMENT PUBLIC POLICY/GOVERNMENT UTILITIES SOURCE: Research and Markets Copyright Business Wire 2025. PUB: 05/21/2025 08:48 AM/DISC: 05/21/2025 08:47 AM
Yahoo
15-05-2025
- Business
- Yahoo
Sanofi commits ‘at least $20bn' to US manufacturing through 2030
Sanofi has become the latest big pharma company to boost manufacturing in the US with a hefty investment as the biopharma industry safeguards itself against the continued threat of pharma tariffs from President Donald Trump. The French drugmaker said it would commit at least $20bn in the US through 2030, with the aim to increase R&D and manufacturing capabilities. Sanofi's current sites in the US stand to benefit from direct investments as the company looks to enhance the robustness of its medicine supply chain amid an uncertain trade landscape. There are 83,000 people employed by Sanofi worldwide – 13,000 of whom are based in the US. While the vaccine maker has not publicly disclosed the exact size of its US manufacturing and R&D footprint, its website lists six major locations across three states. Sanofi's innovation hub, which employs 2,500 people, is based in Cambridge, Massachusetts. Swiftwater, Pennsylvania contains the company's vaccine production sites, whilst Framingham, Massachusetts houses a biologics factory. Also in Massachusetts is Sanofi's Waltham facility, responsible for developing mRNA technology. Sanofi's US headquarters is in Bridgewater, New Jersey. Alongside levelling up existing sites, Sanofi stated it would expand its US presence via partnerships with other domestic manufacturers. Sanofi's CEO Paul Hudson said: 'Our expected investments in the US will be substantial and will help ensure the production of key medicines in the US." Companies are moving quickly to shore up US manufacturing capabilities amid tariffs implemented by Trump that have made importing certain products into the country less attractive. The biopharma industry is also bracing itself for pharmaceutical-specific tariffs, a levy continually threatened by Trump. The President signed an executive order last week that will see foreign drug manufacturing plants receive the same level of scrutiny and surprise inspections as US-based facilities, a bid to boost domestic manufacturing. Sanofi stated that its investment decisions 'will be adjusted as the external environment continues to evolve'. In 2024, $21.6bn of its $45.2bn global sales came from the US market. Sanofi joins a long list of pharma and life science companies redirecting resources to the US in an effort to make supply chains more robust. In April, Roche unveiled a $50bn investment strategy to upgrade three R&D sites in the US. Thermo Fisher has outlaid $2bn to bolster US manufacturing, whilst Novartis, Johnson & Johnson and Eli Lilly have also made respective investment announcements in 2025. The medtech industry is also following in the same vein – Siemens Healthineers said yesterday (14 May) it would relocate manufacturing from Mexico to the US for one of its subsidiaries. Navigate the shifting tariff landscape with real-time data and market-leading analysis. Request a free demo for GlobalData's Strategic Intelligence here. "Sanofi commits 'at least $20bn' to US manufacturing through 2030" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
