Latest news with #Trump-imposed
Yahoo
14 hours ago
- Business
- Yahoo
Zacks.com featured highlights Novartis, ENGIE, MasTec, Dorman Products and Sterling Infrastructure
Chicago, IL – June 2, 2025 – The stocks in this week's article are Novartis NVS, ENGIE SA ENGIY, MasTec MTZ, Dorman Products DORM and Sterling Infrastructure, Inc. STRL. The U.S. stock market showed mixed signals on May 29, with investors reacting to a combination of events. While NVIDIA's strong quarterly results and a favorable ruling from the U.S. International Trade court against Trump-imposed tariffs supported gains on the Nasdaq and S&P 500, the Dow Jones slipped, weighed down by investor concerns over the broader economic outlook amid escalating geopolitical uncertainties. Given such volatile market sentiment, prudent investors are expected to choose safe bet stocks like Novartis, ENGIE SA, MasTec, Dorman Products and Sterling Infrastructure, Inc. to safeguard their portfolio from huge losses (in times of crisis). These stocks bear low leverage and, therefore, should be a safer option for investors if they don't want to lose big in times of market turmoil. Now, before selecting low-leverage stocks, let's explore what leverage is and how choosing a low-leverage stock helps investors. In finance, leverage is a term used to denote the practice of borrowing capital by companies to run their operations smoothly and expand the same. Such borrowings are done through debt financing. But there remains an option for equity finance. This is probably due to the cheap and easy availability of debt over equity financing. However, debt financing has its share of drawbacks. Particularly, it is desirable only as long as it successfully generates a higher rate of return compared to the interest rate. So, to avoid considerable losses in your portfolio, one should always avoid companies that resort to excessive debt financing. The crux of safe investment lies in choosing a company that is not burdened with debt, as a debt-free stock is almost impossible to find. The equity market can be volatile at times, and, as an investor, if you don't want to lose big time, we suggest you invest in stocks that bear low leverage and are, hence, less risky. To identify such stocks, historically, several leverage ratios have been developed to measure the amount of debt a company bears. The debt-to-equity ratio is one of the most common ratios. Debt-to-Equity Ratio = Total Liabilities/Shareholders' Equity This metric is a liquidity ratio that indicates the amount of financial risk a company bears. A lower debt-to-equity ratio reflects improved solvency for a company. With the first-quarter 2025 earnings season almost behind us, investors must be eyeing stocks that have exhibited solid earnings growth in the recent past. But if a stock bears a high debt-to-equity ratio in times of economic downturn, its so-called booming earnings picture might turn into a nightmare. Excluding stocks that have a negative or a zero debt-to-equity ratio, here we present our five picks out of the nine stocks that made it through the screen. Novartis: It has one of the strongest and broadest portfolios of varied drugs. On May 27, 2025, Novartis announced that it had launched a tender offer to acquire Regulus Therapeutics for $7.00 per share in cash plus a potential $7.00 contingent payment tied to a regulatory milestone, as part of a previously announced merger agreement. The move is likely to strengthen Novartis's pipeline in RNA-targeted therapies, enhancing its long-term innovation and growth strategy. The Zacks Consensus Estimate for NVS' 2025 sales suggests an improvement of 7.1% from the 2024 reported figure. The company boasts a long-term (three-to-five years) earnings growth rate of 7.9%. It currently has a Zacks Rank #2. ENGIE SA: It engages in the power, natural gas, and energy services businesses. On May 14, 2025, the company announced its first-quarter 2025 results. Its revenues grew 5.6% year over year in the first quarter. As of March 31, 2025, ENGIE has 8.5 GW of renewable and battery capacity under construction, representing more than 100 projects worldwide. The Zacks Consensus Estimate for its 2025 earnings suggests a year-over-year improvement of 22.9%. It currently sports a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank stocks here. MasTec: It is a leading infrastructure construction company operating mainly throughout North America. On May 1, 2025, the company announced its first-quarter 2025 results. Its revenues increased 6% year over year, while adjusted EBITDA margin improved 6 basis points. The Zacks Consensus Estimate for its 2025 sales indicates an improvement of 11% from the 2024 actual. The Zacks Consensus Estimate for its 2025 earnings suggests a year-over-year improvement of 54.9%. It currently carries a Zacks Rank #2. Dorman Products: It is a leading supplier of Dealer Exclusive replacement parts to the Automotive, Medium and Heavy Duty Aftermarkets. On May 29, Dorman Products announced the release of hundreds of new light-duty automotive repair solutions, including several aftermarket-first innovations across key vehicle systems. This product expansion not only boosts Dorman's extensive 138,000-SKU catalog but also creates over 12 million new sales opportunities, reinforcing its market leadership and growth in the aftermarket parts industry. The Zacks Consensus Estimate for its 2025 sales indicates an improvement of 4.9% from the 2024 actual. The Zacks Consensus Estimate for its 2025 earnings suggests a year-over-year improvement of 9.7%. It currently has a Zacks Rank #2. Sterling Infrastructure: It operates through subsidiaries within segments specializing in E-Infrastructure, Building and Transportation Solutions, principally in the United States. On May 5, the company announced its first-quarter 2025 results. Its revenues increased 7% year over year, while adjusted earnings per share surged 29%. STRL boasts a long-term earnings growth rate of 15%. The stock boasts an average earnings surprise of 11.54%. It currently carries a Zacks Rank #2. You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your trading. Further, you can also create your strategies and backtest them first before taking the investment plunge. The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out. Click here to sign up for a free trial to the Research Wizard today. For the rest of this Screen of the Week article please visit at: Follow us on Twitter: Join us on Facebook: Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Contact: Jim Giaquinto Company: Phone: 312-265-9268 Email: pr@ Visit: provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL) : Free Stock Analysis Report MasTec, Inc. (MTZ) : Free Stock Analysis Report Dorman Products, Inc. (DORM) : Free Stock Analysis Report ENGIE - Sponsored ADR (ENGIY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Recorder
3 days ago
- Business
- Business Recorder
Asian currencies: S Korean won, Taiwan dollar up
BENGALURU: Asian stock markets fell on Friday after a US federal court kept President Donald Trump's tariffs in effect, while currencies also weakened, although both assets were headed for monthly gains. The Thai baht fell 0.4% and the South Korean won dropped 0.7%. The Malaysian ringgit and the Singapore dollar dipped 0.1% and 0.2%, respectively. A federal appeals court temporarily reinstated Trump's tariffs while it considers the government's appeal, a day after a trade court blocked tariffs on the grounds that the president had exceeded his authority. The dollar index weakened earlier but was last 0.2% higher. It was poised for its fifth consecutive monthly decline. The 'bounce in the USD is seen as short-term unwinding of short positions rather than bullish reversals to chase,' said Fiona Lim, a senior FX strategist at Maybank. Trump's tariff policy reversals and concerns over US fiscal health have prompted investors to shun the dollar and favour Asian currencies this month. While tariffs risk lingers, the news flow and cautious positioning are supportive for emerging assets, said Barclays analysts. MSCI's emerging market currencies index has gained more than 2% in May, the most in any month since November 2023. The baht is set for its best month since September 2024, and the Singapore dollar is poised for a fifth consecutive monthly gain. The won has jumped about 3.4% this month as Seoul officials confirmed currency policy was on the table during recent trade talks with US counterparts. In Taiwan, closed on the day for a holiday, the dollar surged 6.5% against the US dollar in May, with most of that coming early in the month on speculation that Washington had asked for that to happen as part of the tariff talks, which Taiwan has denied. The focus across the region now is on developments in trade negotiations leading up to the Trump-imposed July 9 deadline. 'Any trade deal or signs of tensions easing could continue to spur unwinding of short USD positions and keep the USD/AXJ mostly supported on dips in the near term,' Maybank's Lim said. Lim sees a possibility for a virtuous circle for Asian currencies, especially with a bearish dollar allowing regional central banks to further lower interest rates to boost growth. MSCI's gauge of Asian emerging market equities fell 0.9% on the day on the latest twist in the tariffs saga. However, the index has jumped 5% this month, largely due to the trade deal between the US and China, a major trading partner for many Southeast Asian countries.
The Citizen
5 days ago
- Business
- The Citizen
Why Trump's trade war is hurting the world
Trump's tariffs are not just harming China and SA, but the entire global economy. It's time for new alliances and strategies. EFF leader Julius Malema has found a refreshing way of describing how US President Donald Trump's condescending manner of dealing with other world leaders, including President Cyril Ramaphosa, has become. According to Malema, himself on Trump's radar for chanting a liberation-era slogan, which our apex court has found nothing wrong with, says: 'Being summoned to the White House is like teachers being called to the office of the principal.' As seen during the recent meeting with Ramaphosa, in holding a conversation with Trump, you brace yourself for anything. Trump's arsenal includes being ambushed with false photographs depicting a 'genocide', to being bombarded by an old footage of Malema addressing EFF supporters. All driven to show the world 'how bad things are in South Africa'. Amid all this insanity, backed by insults, one has to admire China for standing up to the Trump's expensive experiments. With the April Trump-imposed 'reciprocal tariffs', on nearly every trading partner, US rates on Chinese goods soared up to 145% – the highest in a century. But this has failed to dampen the fighting spirit of the world's second-largest economy. ALSO READ: Trump's Apple tariff threat expanded to other smartphones Despite optimistic signals from China-US trade talks in Geneva, the damage to global trade has become irreversible. As Beijing-based international affairs expert Hui Fan, has observed: 'In the heart of Cupertino, Apple engineers are scrambling to redesign the iPhone 17. 'Why? 'US semiconductor tariffs have ignited a fire under production costs. But here is the kicker: your smartphone is a United Nations of tech, with its brain born in California. 'Its face crafted in the Republic of Korea and its body assembled in China. 'This intricate web of international collaboration is the hallmark of globalisation – a system that has driven economic growth and innovation for decades. But, now, this delicate balance is under threat.' Blame all this mess on Trump – the school principal gone berserk. ALSO READ: WATCH: SA should know what leverage it has on the US and act on it, Rasool says The World Trade Organisation (WTO) has issued a warning that US tariffs could shrink global trade by 1.5% this year, with North American exports plummeting by a staggering 12.6%. Ironically, after World War II, a global conflict that lasted from 1939 to 1945, pitting the Allied powers of France, Great Britain, the Soviet Union, the US and China against the Axis of Germany, Italy and Japan, it was America that engineered the Bretton Woods system and the WTO. The US wanted to institutionalise free trade – cleverly embedding its economic dominance into multilateral trade rules. The system fuelled unprecedented growth: the US gross domestic product tripled from $10 trillion in 2000 to $27 trillion in 2023 – while multinational giants like Exon and Apple thrived on global supply chains. Now, Trump is dismantling the system built by his predecessors. If this is about the rise of the Chinese economy and that of other developing nations, the US dominance faces erosion, sparking a political backlash. Faced with pressure, some US politicians have now seen globalisation as the scapegoat – casting China as 'a free rider gaming the system'. ALSO READ: Experts warn South Africa cannot afford tariff showdown In explaining flaws in the US narrative, Hui says it 'overlooks deeper structural flaws'. 'Automation and corporate offshoring – not trade – have displaced workers, while tax policies favour capital over labour,' says Hui. 'With elites capturing the gains of globalisation, wealth inequality has soared, with the wealthiest 1% holding 30.8% of US net wealth, as of 2024.' For South Africa, it is time to find new markets and deepening relations with Brics countries – away from the White House humiliation.
Yahoo
6 days ago
- Business
- Yahoo
Trump tariffs live updates: India proposes steep US tariff cuts in trade push
India has reportedly offered the US steep tariff cuts but is seeking to retain high duties on some agricultural commodities, such as food grains and dairy products, according to a report in the FT on Wednesday. India, which is racing to secure a deal with the Trump Administration before July 9, has proposed substantial tariff reductions. 'There is a possibility of a very deep tariff reduction from India under the bilateral trade agreement,' said one of the people familiar with India's stance on the talks, who asked not to be identified because they were confidential. 'But this is subject to a very balanced outcome for both sides.' India is not the only trading partner seeking tariff reprieve. The European Union has agreed to fast-track trade talks with the US in a bid to avoid President Trump's 50% tariffs — which, in an about-face, he announced would be delayed until July 9. "This is a positive event, and I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America," Trump posted to social media on Tuesday. "They will BOTH be very happy, and successful, if they do!!!" On Tuesday, a Bloomberg report said that the EU's trade chief, Maroš Šefčovič will lead political negotiations and is focusing on key sectors such as semiconductors, automobiles, pharmaceuticals and aluminum to avoid tariffs, according to sources. Šefčovič also said the EU held "good calls" with Trump administration officials on Monday after the close trading partners moved forward with negotiations amid Trump's tariff-fueled push to rework global trade relationships. Earlier on Monday, the EU said that the result of the weekend phone call between Trump and European Commission President Ursula von der Leyen provided "new impetus for the negotiations." At the same time, sticking points remain. On Sunday evening, two days after asserting that the bloc has been "very difficult to deal with" and declaring that discussions were "going nowhere," Trump pushed back a June 1 deadline for a "straight 50% Tariff on the European Union" to July 9. The EU, which has 27 member states, comprises the largest US trade partner. The US has reportedly been pressuring the EU to cut tariffs on American goods. The EU is reportedly readying some $108B in retaliatory tariffs if talks fail. Meanwhile, Apple (AAPL) remains in high focus after Trump said the company would face 25% tariffs if it didn't move iPhone production to the US. He later said that would apply to other phone makers, including Samsung ( On Friday, Treasury Secretary Scott Bessent sought to soothe market worries over Trump's initial EU and Apple announcements by pledging that the US would announce "several" large trade deals in the coming weeks. Here are the latest updates as the policy reverberates around the world. Bloomberg News reports: Read more here. As the US and European Union negotiate a new trade deal to avoid President Trump-imposed tariffs, it's worth taking a moment to note that the US and the EU have the largest bilateral trade relationship in the world. According to the Council of the European Union (and converted to USD), the transatlantic trade in goods and services topped 1.8 trillion in 2023 after a post-pandemic surge: A measure of tariff revenue has spiked this month as importers paid the baseline "Liberation Day" tariffs that went into effect on April 5, along with other duties set by President Trump. Government receipts for "Customs and Certain Excise Taxes" have already topped $22.3 billion this month, according to Treasury Department data. Yahoo Finance's Ben Werschkul reports: Read more here. Yahoo Finance's Jennifer Schonberger reports: Read more here. Yahoo Finance's Josh Schafer reports: Read more here. The Chinese Premier Li Qiang has urged Southeast Asian and Gulf states to help create a 'big market', in a bid to counter US efforts to isolate China's economy. Bloomberg News reports: Read more here. Reuters reports: Read more here. Retailers, who have suffered under Trump's tariffs, are increasingly warming to offers to sell in order to escape market volatility that has caused company valuations to seesaw in recent months, according to a report in Reuters. Reuters reports: Read more here. Bloomberg News reports: Read more here. Malaysia's Trade and Industry minister Zafrul Aziz said that the US reducing its proposed tariffs on Malaysia to 10% is a positive move, conceding that a previously hoped for levy of zero may not be possible. Bloomberg News reports: Read more here. Trump tariffs are staring to impact everything from retail prices to consumer spending and now, a Spanish hatmaker with a 40-year tradition of supplying felt hats to orthodox Jews in the US has become the latest casualty of the president's trade war. Reuters reports: Read more here. Reuters reports: Read more here. In the latest AP dispatch from Frankfurt, which details how the European Union's chief trade negotiator said he had 'good calls' with Trump administration officials on Monday, David McHugh noted that the EU "has offered Trump a 'zero for zero' deal in which tariffs would be removed on industrial goods including automobiles, but the U.S. administration has said it will not lower tariffs below a 10% baseline imposed on almost all its trading partners. Trump has also announced tariffs of 25% on steel and automobiles." That raises the question of where the negotiations, which got back on the rails over the weekend after a call between President Trump and EU Commission President Ursula von der Leyen, will go from here — and what Trump will have to say next time he discusses the $1.8 trillion trade relationship. Read more here. The European Union, which has 27 member states, comprises the largest US trade partner. But President Trump may be demanding more that the EU can stomach in ongoing trade talks. Later on in the piece, there's a quote from Irish agriculture minister Martin Heydon: "We are one of the most important trading partners for the U.S. So we shouldn't just agree to whatever the demand is from the White House. We should negotiate and explain that mutually beneficial nature of the trade." Read more here. Andy Bounds at FT makes a couple of simple-but-notable points as the US and EU navigate President Trump's erratic trade policy: Read more here (premium). (Bloomberg) — The European Union could retaliate against US technology companies if the trade conflict with Donald Trump's administration escalates, German Chancellor Friedrich Merz said. ... 'At the moment, we strongly protect US tech companies — also on taxes,' Merz said Monday in Berlin at the WDR Europaforum conference. 'That can be changed, but I don't want to escalate this conflict. I want to solve it together.' Read more here. The US and EU planned to hold trade talks on Monday afternoon after a phone call between President Donald Trump and European Commission President Ursula von der Leyen seems to have gotten negotiations back on the rails after US complaints and renewed tariff threats. "There's now also a new impetus for the negotiations, and we will take it from there," an EU spokesperson told Reuters. "They agreed both to fast track the trade negotiations and to stay in close contact." Read more here. Apple stock tumbled on Friday after President Trump directly threatened the iPhone maker with tariffs, disrupting Apple's balancing act between the US and China, and now we have a bit more context on the recent outbursts. Tripp Mickle of the New York Times reports that Apple CEO Tim Cook declined the White House's tacit invitation to travel with Trump to the Middle East, and the president seems to have taken that personally. 'I mean, Tim Cook isn't here but you are,' Trump said to Nvidia CEO Jensen Huang at one event. At another event, the president said he 'had a little problem with Tim Cook," later adding: "I hear you're building all over India. I don't want you building in India.' Read more here. President Trump announced Sunday that the US will postpone the implementation of a 50% tariff on European Union goods until July 9, 2025, providing a window for renewed negotiations with the bloc. The tariffs, originally set to take effect on June 1, had sparked concerns over escalating trade tensions. The decision followed a phone call with European Commission President Ursula von der Leyen, who Trump said expressed a strong desire to engage in 'serious negotiations.' Speaking to reporters in Morristown, New Jersey, Trump emphasized that he had been urging the EU to return to the table. Trump said von der Leyen committed to acting quickly to resolve the dispute. Trump had previously threatened the tariffs in a social media post on Friday, citing stalled talks and accusing the EU of being 'very difficult to deal with.' However, Sunday's conversation appeared to ease those concerns. Trump posted the below to Truth Social on Sunday evening. Von der Leyen also publicly reacted to the call, underscoring the importance of the transatlantic economic partnership. 'Europe is ready to advance talks swiftly and decisively,' she said. 'To reach a good deal, we would need the time until July 9.' The delay gives both sides breathing room to avoid a costly escalation that could disrupt one of the world's most significant trade relationships. German Finance Minister Lars Klingbeil urged restraint in the escalating trade dispute between the European Union and the US in an interview with Bild am Sonntag. 'We don't need any more provocations now, but serious negotiations,' the German Sunday tabloid cited Klingbeil as saying. The minister said he had discussed 'precisely this' with US Treasury Secretary Scott Bessent. 'The US tariffs are endangering the American economy at least as much as the German and European economies,' Klingbeil said. 'This trade conflict harms everyone and must be ended quickly.' At the same time, Europe is 'united and determined to defend our interests,' the minister said. Klingbeil's comments echo the response from EU officials to US President Donald Trump's threat on Friday to impose a 50% tariff on EU imports from June 1, which sent stocks on both sides of the Atlantic tumbling. Read more here. Bloomberg News reports: Read more here. As the US and European Union negotiate a new trade deal to avoid President Trump-imposed tariffs, it's worth taking a moment to note that the US and the EU have the largest bilateral trade relationship in the world. According to the Council of the European Union (and converted to USD), the transatlantic trade in goods and services topped 1.8 trillion in 2023 after a post-pandemic surge: A measure of tariff revenue has spiked this month as importers paid the baseline "Liberation Day" tariffs that went into effect on April 5, along with other duties set by President Trump. Government receipts for "Customs and Certain Excise Taxes" have already topped $22.3 billion this month, according to Treasury Department data. Yahoo Finance's Ben Werschkul reports: Read more here. Yahoo Finance's Jennifer Schonberger reports: Read more here. Yahoo Finance's Josh Schafer reports: Read more here. The Chinese Premier Li Qiang has urged Southeast Asian and Gulf states to help create a 'big market', in a bid to counter US efforts to isolate China's economy. Bloomberg News reports: Read more here. Reuters reports: Read more here. Retailers, who have suffered under Trump's tariffs, are increasingly warming to offers to sell in order to escape market volatility that has caused company valuations to seesaw in recent months, according to a report in Reuters. Reuters reports: Read more here. Bloomberg News reports: Read more here. Malaysia's Trade and Industry minister Zafrul Aziz said that the US reducing its proposed tariffs on Malaysia to 10% is a positive move, conceding that a previously hoped for levy of zero may not be possible. Bloomberg News reports: Read more here. Trump tariffs are staring to impact everything from retail prices to consumer spending and now, a Spanish hatmaker with a 40-year tradition of supplying felt hats to orthodox Jews in the US has become the latest casualty of the president's trade war. Reuters reports: Read more here. Reuters reports: Read more here. In the latest AP dispatch from Frankfurt, which details how the European Union's chief trade negotiator said he had 'good calls' with Trump administration officials on Monday, David McHugh noted that the EU "has offered Trump a 'zero for zero' deal in which tariffs would be removed on industrial goods including automobiles, but the U.S. administration has said it will not lower tariffs below a 10% baseline imposed on almost all its trading partners. Trump has also announced tariffs of 25% on steel and automobiles." That raises the question of where the negotiations, which got back on the rails over the weekend after a call between President Trump and EU Commission President Ursula von der Leyen, will go from here — and what Trump will have to say next time he discusses the $1.8 trillion trade relationship. Read more here. The European Union, which has 27 member states, comprises the largest US trade partner. But President Trump may be demanding more that the EU can stomach in ongoing trade talks. Later on in the piece, there's a quote from Irish agriculture minister Martin Heydon: "We are one of the most important trading partners for the U.S. So we shouldn't just agree to whatever the demand is from the White House. We should negotiate and explain that mutually beneficial nature of the trade." Read more here. Andy Bounds at FT makes a couple of simple-but-notable points as the US and EU navigate President Trump's erratic trade policy: Read more here (premium). (Bloomberg) — The European Union could retaliate against US technology companies if the trade conflict with Donald Trump's administration escalates, German Chancellor Friedrich Merz said. ... 'At the moment, we strongly protect US tech companies — also on taxes,' Merz said Monday in Berlin at the WDR Europaforum conference. 'That can be changed, but I don't want to escalate this conflict. I want to solve it together.' Read more here. The US and EU planned to hold trade talks on Monday afternoon after a phone call between President Donald Trump and European Commission President Ursula von der Leyen seems to have gotten negotiations back on the rails after US complaints and renewed tariff threats. "There's now also a new impetus for the negotiations, and we will take it from there," an EU spokesperson told Reuters. "They agreed both to fast track the trade negotiations and to stay in close contact." Read more here. Apple stock tumbled on Friday after President Trump directly threatened the iPhone maker with tariffs, disrupting Apple's balancing act between the US and China, and now we have a bit more context on the recent outbursts. Tripp Mickle of the New York Times reports that Apple CEO Tim Cook declined the White House's tacit invitation to travel with Trump to the Middle East, and the president seems to have taken that personally. 'I mean, Tim Cook isn't here but you are,' Trump said to Nvidia CEO Jensen Huang at one event. At another event, the president said he 'had a little problem with Tim Cook," later adding: "I hear you're building all over India. I don't want you building in India.' Read more here. President Trump announced Sunday that the US will postpone the implementation of a 50% tariff on European Union goods until July 9, 2025, providing a window for renewed negotiations with the bloc. The tariffs, originally set to take effect on June 1, had sparked concerns over escalating trade tensions. The decision followed a phone call with European Commission President Ursula von der Leyen, who Trump said expressed a strong desire to engage in 'serious negotiations.' Speaking to reporters in Morristown, New Jersey, Trump emphasized that he had been urging the EU to return to the table. Trump said von der Leyen committed to acting quickly to resolve the dispute. Trump had previously threatened the tariffs in a social media post on Friday, citing stalled talks and accusing the EU of being 'very difficult to deal with.' However, Sunday's conversation appeared to ease those concerns. Trump posted the below to Truth Social on Sunday evening. Von der Leyen also publicly reacted to the call, underscoring the importance of the transatlantic economic partnership. 'Europe is ready to advance talks swiftly and decisively,' she said. 'To reach a good deal, we would need the time until July 9.' The delay gives both sides breathing room to avoid a costly escalation that could disrupt one of the world's most significant trade relationships. German Finance Minister Lars Klingbeil urged restraint in the escalating trade dispute between the European Union and the US in an interview with Bild am Sonntag. 'We don't need any more provocations now, but serious negotiations,' the German Sunday tabloid cited Klingbeil as saying. The minister said he had discussed 'precisely this' with US Treasury Secretary Scott Bessent. 'The US tariffs are endangering the American economy at least as much as the German and European economies,' Klingbeil said. 'This trade conflict harms everyone and must be ended quickly.' At the same time, Europe is 'united and determined to defend our interests,' the minister said. Klingbeil's comments echo the response from EU officials to US President Donald Trump's threat on Friday to impose a 50% tariff on EU imports from June 1, which sent stocks on both sides of the Atlantic tumbling. Read more here. 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
Fashion Network
19-05-2025
- Business
- Fashion Network
Trump tells Walmart to 'eat the tariffs' instead of raising prices
U.S. President Donald Trump said on Saturday that Walmart should "eat the tariffs" instead of blaming duties imposed by his administration on imported goods for the retailer's increased prices. His comments were in response to the world's largest retailer saying this week it would have to start raising prices later this month due to high tariffs. "Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected," Trump said in a social media post. "Between Walmart and China they should, as is said, 'EAT THE TARIFFS,' and not charge valued customers ANYTHING." Walmart said it has always worked to keep its prices as low as possible, adding that this practice will not stop. "We'll keep prices as low as we can for as long as we can given the reality of small retail margins," the company said in a statement to Reuters. Walmart CEO Doug McMillon said on Thursday the retailer could not absorb all the tariff costs because of narrow retail margins. Even so, he said, the company was committed to ensuring that tariff-related costs on general merchandise, which primarily comes from China, would not drive food prices higher. Many U.S. companies have either slashed or pulled their full-year expectations amid friction between the U.S. and its trading partners, particularly China, as consumers curtail spending. As a bellwether of U.S. consumer health, Walmart's explicit statement about the impact of tariffs is a signpost for how the trade war is affecting the retail sector. Walmart is noted for its ability to manage costs more aggressively than other companies to keep prices low. Every week, 255 million people shop in its stores or place orders online around the world, and 90% of the U.S. population lives within 10 miles (16 km) of a Walmart. Walmart's disclosure comes about three weeks after a published report that Amazon, opens new tab planned to disclose how much Trump-imposed tariffs were adding to the costs of its products. The White House blasted Amazon over the report, which the company promptly denied.
