Latest news with #UnitedStates–Mexico–CanadaAgreement
Yahoo
21-05-2025
- Business
- Yahoo
Canada Goose stock up nearly 30%; no guidance from parka maker as Trump's tariffs create 'uncertain times'
Shares of Canada Goose Holdings ( soared by nearly 30 per cent on Wednesday as the luxury parka maker booked strong quarterly sales and rising net income. CEO Dani Reiss says while business is brisk today, a U.S.-led global trade war could shrink demand. Toronto-based Canada Goose declined to issue financial guidance for its current fiscal year as it reported results on Wednesday, citing 'macroeconomic uncertainty and dynamic consumer spending patterns brought on by the unpredictable global trade environment.' 'The decision not to provide an outlook for the year is entirely around what we see as a fairly uncertain consumer environment around the world,' Reiss told analysts on a post-earnings conference call on Wednesday. 'These are uncertain times.' Reiss says the current tariff landscape is 'not material' to the company's 2026 plans directly. 'Approximately 75 per cent of our units are made in Canada, virtually all complying with USMCA (United States–Mexico–Canada Agreement), which means they are currently exempt from tariffs,' chief operating officer Beth Clymer added on the call. 'Our remaining production, which is primarily from Europe, is facing increasing tariffs. But they will have minimal financial impact.' Toronto-listed Canada Goose shares rose as much as 28.3 per cent on Wednesday. The stock was up 26.41 per cent at $15.70 per share as at 10:58 a.m. ET. For the three months ended March 30, Canada Goose reported $27.1 million in net income attributable to shareholders, up from $5 million in the fourth quarter of 2024. Sales increased 7.4 per cent year-over-year, while adjusted earnings before interest, taxes, depreciation, and amortization rose 48.9 per cent on an annual basis. Despite the strong results, Canada Goose now joins the list of Canadian firms lowering or eliminating financial guidance as U.S. President Donald Trump attempts to overhaul America's trade links with the rest of the world. So far this earnings season, Air Canada ( Rogers Communications ( A&W Food Services of Canada ( have been among companies issuing weaker guidance for 2025. BMO chief investment strategist Brian Belski recently advised investors to look past these revisions. "We believe investors should not be reactionary to negative guidance," he wrote in a report to clients. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo
21-05-2025
- Business
- Yahoo
Canada Goose stock up nearly 30%; no guidance from parka maker in 'uncertain times'
Shares of Canada Goose Holdings ( soared by nearly 30 per cent during trading Wednesday as the luxury parka maker booked strong quarterly sales and rising net income. CEO Dani Reiss says while business is brisk today, a U.S.-led global trade war could shrink demand. Toronto-based Canada Goose declined to issue financial guidance for its current fiscal year as it reported results on Wednesday, citing 'macroeconomic uncertainty and dynamic consumer spending patterns brought on by the unpredictable global trade environment.' 'The decision not to provide an outlook for the year is entirely around what we see as a fairly uncertain consumer environment around the world,' Reiss told analysts on a post-earnings conference call on Wednesday. 'These are uncertain times.' Reiss says the current tariff landscape is 'not material' to the company's 2026 plans directly. 'Approximately 75 per cent of our units are made in Canada, virtually all complying with USMCA (United States–Mexico–Canada Agreement), which means they are currently exempt from tariffs,' chief operating officer Beth Clymer added on the call. 'Our remaining production, which is primarily from Europe, is facing increasing tariffs. But they will have minimal financial impact.' Toronto-listed Canada Goose shares rose as much as 28.3 per cent on Wednesday. The stock was up 26.41 per cent at $15.70 per share as at 10:58 a.m. ET. For the three months ended March 30, Canada Goose reported $27.1 million in net income attributable to shareholders, up from $5 million in the fourth quarter of 2024. Sales increased 7.4 per cent year-over-year, while adjusted earnings before interest, taxes, depreciation, and amortization rose 48.9 per cent on an annual basis. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. Sign in to access your portfolio
Yahoo
03-05-2025
- Automotive
- Yahoo
GM's $5B tariff gut punch shows how painful it will be for U.S. automakers to adapt to Trump's vision
General Motors on Thursday became the first U.S. automaker to put a dollar figure on the cost of Trump's tariffs: $4 billion to $5 billion in 2025. But the answer to the bigger question—whether these steep penalties will compel GM to move a more meaningful chunk of its vehicle production back to the homeland—remains as vague as ever. CEO Mary Barra described a variety of 'levers' the company can, or already has, pulled to offset some of the bite of the tariffs. Among them, working with suppliers to increase the amount of parts that are compliant with the United States–Mexico–Canada Agreement, building more battery modules in the U.S., and ramping up production of pickup trucks by roughly 50,000 units on an annualized basis at its Fort Wayne factory. 'We have excess capacity in the U.S. with the plants that we already have, so that allows us, if we want to make adjustments, we can do it,' Barra said on a conference call with analysts on Thursday. She and GM CFO Paul Jacobson noted that the company has more plans to increase vehicle production in the U.S. going forward, but did not share any details. 'The footprint responses and supply chain responses, et cetera—that's what's going to take a little bit of time,' Jacobson said on the call. 'So as we continue to go through, we'll provide more detail on our progress on each of those.' Asked by an analyst on the call about reshoring auto manufacturing to the U.S., Barra said, 'I think we also get fixated on where final assembly is versus all the powertrain plants that we have here, the stamping plants, the fact that we've invested in two battery plants and that's what allows us to have such high USMCA compliant parts.' The comments underscore just how steep of a challenge U.S. automakers face in carrying out President Trump's vision of bringing manufacturing and supply chains back to the U.S., where costs are higher. The frequent changes to U.S. trade policy in the Trump administration has added to the challenge, leaving businesses uncertain if the tariffs announced by Trump will be changed or scrapped weeks later. GM had delayed its earnings call and refrained from providing a financial forecast when it reported its quarterly results earlier this week, an unusual move likely due to the ongoing uncertainty around the final form of the 25% tariffs on foreign cars and parts that President Trump first announced in March. On Tuesday, Trump signed a new executive order that said U.S. automakers would get credits and partial offsets for assembling vehicles in the U.S. and using parts that are made in America. On Thursday's earnings call, General Motors executives said the company should benefit from those adjustments as it builds about 1.5 million of its fleet in the U.S. each year. Jacobson said on the call that GM's 'primary location for sourcing parts' for assembly in America was the U.S. and that it counted for 'well over half' of its annual parts expense. The new adjustments 'will help mitigate a substantial portion of tariffs on parts going into those vehicles and help avoid added costs on U.S. vehicle production,' CFO Jacobson said. But even with these mitigations taken into account, Jacobson said that the tariffs will ultimately lower GM's projected annual earnings before income tax to between $10–$12.5 billion, down from the $13.7–$15.7 billion it had estimated at the beginning of this year. Jacobson specified that around $2 billion of the tariff expenses will stem from vehicles imported from Korea, as well as Mexico and Canada and higher costs for imported indirect materials. Executives at the automaker have been publicly upbeat about Trump and his administration. On the call, Jacobson referred to the auto-focused tariff adjustments from this week as 'smart policies that help encourage companies to do more in the U.S. while also ensuring satisfactory return on invested capital.' General Motors CEO Barra said that the company has been in 'continual discussions' with Trump and his team and that she felt GM had a 'good understanding' of his plans heading into this week. But in a sign that Trump may not be pleased with GM's response so far, the automaker's name was notably absent from a White House press release about U.S. automobile production issued hours after GM's call on Thursday. The press release touted several automakers making or considering investments in U.S. production including Mercedes-Benz, Toyota, Honda, BMW, and Nissan, among others. This story was originally featured on
Yahoo
17-04-2025
- Business
- Yahoo
J&J projects $400m tariff hit but raises sales outlook
Johnson & Johnson Innovative Medicine (J&J) addressed the potential impact of pharmaceutical tariffs during its Q1 2025 earnings call, as the US government intensifies its scrutiny of foreign drug supply chains. The company's chief financial officer Joseph Wolk said the company expects a $400m cost tied to newly proposed and existing tariffs, with the largest burden stemming from China's retaliatory duties on US-origin goods. With the possibility of pharma-specific tariffs looming and the Department of Commerce announcing the launch of a Section 232 investigation into pharmaceutical imports on 14 April, investors were watching closely for commentary from J&J on US trade policy. The investigation gives President Donald Trump 90 days to determine whether tariffs should be imposed on national security grounds. CEO Joaquin Duato said the company is analysing the Section 232 process, noting it had been anticipated and would be treated as a normal regulatory development. 'It's important that companies in healthcare partner with the administration to look to mitigate some of the vulnerabilities that exist today in our healthcare supply chain,' Duato said. 'We plan to do it in this process to make sure that we have enough manufacturing capacity here in the US to be able to address multiple scenarios. We want to be deferential to the administration and their process,' he added. Many large pharma companies like MSD and Novartis have announced plans to increase manufacturing activity in the US against the backdrop of these tariff announcements, and J&J announced its own $55m US investment in March 2025. 'Since President Trump's 2017 tax reform, the investment in manufacturing – both in medtech and in pharmaceuticals – has significantly increased. When you think about our recent announcement of investing $55bn over the next four years at the completion of this investment plan, essentially all our advanced medicines that are used in the US will be manufactured in the US,' said Duato. J&J indicated that most of the projected $400m tariff impact will affect its Medtech division. The total includes duties from China, as well as import tariffs from Mexico and Canada not excluded under the United States–Mexico–Canada Agreement (USMCA). Wolk noted that mitigation strategies are limited due to existing price controls and contractual agreements, particularly in the pharmaceutical segment. Tariff-related costs will primarily be recorded as inventory before impacting future profit and loss statements. Despite the headwinds, J&J posted Q1 results above analyst expectations. Revenue for the quarter rose by 2.4% to $21.9bn, with operational growth of 4.2% and adjusted operational growth of 3.3%. Oncology products, including multiple myeloma drug Darzalex (daratumumab), remained key contributors. The company raised its 2025 sales forecast by $700m to $92bn at the midpoint, reflecting the addition of Caplyta (lumateperone) following its $14.6bn acquisition of Intra-Cellular Therapies. However, J&J lowered its adjusted operational EPS growth projection to 6.2%, down from 8.7%, citing dilution from the acquisition. Adjusted reported EPS growth remains unchanged at 6.2%, consistent with guidance first issued in January 2025. J&J also reported regulatory approvals for two key therapies in 1Q: the US Food and Drug Administration (FDA) cleared Tremfya (guselkumab) for Crohn's disease, and the European Commission (EC) approved Rybrevant (amivantamab-vmjw) for specific lung cancer indications. Medtech operational sales rose 4.1%, with growth driven by cardiovascular and general surgery segments. Orthopaedics showed weakness, particularly in spine and sports medicine. Legal challenges remain ongoing. In April 2025, a Texas court blocked J&J's attempt to resolve talc-related liabilities via a bankruptcy filing by its subsidiary Red River Talc. J&J previously expressed its intention to defend itself against the claims, which it insists are 'meritless' and 'premised on junk science'. J&J intends to recover up to $7bn from legal reserves. "J&J projects $400m tariff hit but raises sales outlook" 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. Sign in to access your portfolio
Yahoo
15-04-2025
- Business
- Yahoo
Trump tariffs live updates: Bessent hopes for progress in 90-day 'pause' window as Trump presses China
US Treasury Secretary Scott Bessent told Yahoo Finance on Tuesday that he was optimistic about "clarity" on tariffs and progress on key trade deals over the next 90 days, as President Trump simultaneously sought to ramp up pressure on China to come to the negotiating table. "Let's set aside China. There are 15 large trading partners. We set aside China," Bessent told Yahoo Finance Executive Editor Brian Sozzi. There are 14, and we're in rapid motion and setting up a process for the 14 largest trading partners." He added: "I think if we follow the process, we could have substantial clarity on those 14 away from China in terms of agreements in principle. And then once we reach a level that we've agreed on and they've agreed to lower their tariffs, lower their non-tariff barriers, currency manipulation, and subsidies of industry and labor, then I think we can move forward." The comments come as Trump instituted a broad 90-day pause on steep "Liberation Day" tariffs, aiming to give time for negotiators to work out new deals. But Trump has also ballooned tariffs on China, as the tit-for-tat between the world's two largest economies intensifies. China has raised its duties on imports of US goods to 125% from 84%, while US tariffs on Chinese imports have ballooned to 145%. "The ball is in China's court. China needs to make a deal with us. We don't have to make a deal with them," the White House press secretary said Tuesday, reading a statement she said Trump had dictated. Over the past several days, investors have focused on possible delays and exemptions — on Monday, Trump signaled a possible delay to auto tariffs, adding to market relief after suspending levies on some consumer tech, even as he insists these tariffs will eventually come to fruition. Late Monday, the Trump administration took a key step toward tariffs on semiconductor and drug imports, as the Commerce Department began an investigation seen as a precursor to imposing the levies. Meanwhile, the baseline 10% tariff that went into effect on April 5 remains in place for all affected imports into the US. Elsewhere, goods compliant to the United States–Mexico–Canada Agreement (USMCA) are imported tariff-free when traded among the three countries, while most non-compliant goods are tariffed at 25%. Here are the latest updates as the policy reverberates around the world. Treasury Secretary Scott Bessent addressed whether he thinks the US's 145% tariff rate on China is permanent, as the tit-for-tat trade war between the two countries escalates. "Look, I think no one thinks that these are sustainable over the long run," Bessent told Yahoo Finance's Brian Sozzi. "But with President Trump, I'm not going to give away his negotiating strategy ... So I think [President Trump] gets maximum strategy because he keeps everything on the table all the time." Treasury Secretary Scott Bessent sat down with Yahoo Finance's Brian Sozzi on Tuesday to discuss tariffs, the bond market, and more. "President Trump wants to be involved," Bessent said about the trade negotiations during the 90-day additional reciprocal tariff pause. He said that the administration is "in rapid motion" setting up a process for evaluating trade deals with the US's largest 14 trading partners other than China. "So in 90 days, are we going to have a complete document, a formal legal document, done and dusted? Not likely," Bessent said. "But I think if we follow the process, we could have substantial clarity ... on those 14 away from China in terms of agreements in principle. And then once we reach a level that we've agreed on, and they've agreed to lower their tariffs, lower their non-tariff barriers, currency manipulation, and subsidies of industry and labor, then I think we can move forward." Bessent continued that countries negotiating with the White House need to bring their "A game." The White House press secretary on Tuesday said "the ball was in China's court" as President Trump pushes for negotiations to tamp down a trade war between the world's two largest economies. "The ball is in China's court. China needs to make a deal with us. We don't have to make a deal with them," Press Secretary Karoline Leavitt said Tuesday, according to Bloomberg, in a statement she said had been dictated by Trump. "There's no difference between China and any other country except they are much larger, and China wants what we have, what every country wants, what we have — the American consumer — or to put another way, they need our money," she said. Per Bloomberg: Johnson & Johnson (JNJ) said Tuesday that it expects about $400 million in tariff-related costs this year — not including possible tariffs on pharmaceutical imports, which Trump alluded are coming soon. The Trump administration has proceeded with its Section 232 investigations into imports of pharmaceuticals and semiconductors in the first step to levy tariffs on those sectors. J&J, which is investing in manufacturing its advanced medicines in the US, said that if additional pharmaceutical tariffs go into effect, they could lead to supply chain issues and shortages. The Associated Press reports: Read more here. Trade talks between the European Union and US made "little progress" over the past several days, and EU negotiators expect the bulk of duties to remain once President Trump's "reciprocal" tariff pause resumes. Per Bloomberg: Trump has taken particular aim at the EU as part of his pledge to reshape the US trade landscape, even with longstanding allies. As Bloomberg notes, the EU has floated that both sides remove tariffs on "industrial goods, including cars," but the US has rejected those terms. Read the full Bloomberg report here. US import prices slipped in March, largely due to a drop in energy costs — a surprise dip. But with trade tensions rising and fresh tariffs looming, that relief may not last. Reuters reports: Read more here Bloomberg reports: Read more here. Vice President JD Vance said that the Trump administration is working with UK Prime Minister Keir Starmer's government to strike a new US-UK trade deal. He noted that the president's cultural affinity for Britain could boost cooperation. The US has imposed a 10% tariff on imports from the UK to the US as well as 25% tariffs on autos, steel, and aluminum. "The President really loves the United Kingdom," Vance said to the online publication UnHerd on Tuesday. "He loved the Queen. He admires and loves the King. It is a very important relationship. And he's a businessman and has a number of important business relationships in [Britain]." "I think there's a good chance that, yes, we'll come to a great agreement that's in the best interest of both countries," Vance added. Read more here. On Monday, the Trump administration opened a probe into pharmaceutical imports, and the president pledged that pharma tariffs would come in the "not-too-distant future." "We don't make our own drugs anymore," Trump said in a media appearance, as my colleague Brett LoGiurato documented here. "All I have to do is impose a tariff. The higher the tariff, the faster they come." Trump has repeatedly singled out Europe — Ireland, in particular — as a target for tariffs. But recent reports suggest that if tariffs do come, Ireland and its US customers won't be completely caught off guard. Reuters reports that Ireland has been rushing to ship pharmaceuticals and medical products to the US ahead of tariffs, including by air. Irish pharma exports to the US surged by more than 450% from the previous year in February from 1.9 billion euros to 10.5 billion euros, Ireland's Central Statistics Office said. Exports also spiked by 130% in January to 9.4 billion euros, suggesting US drugmakers may be stockpiling medicines. Read more here. Big Tech's size is its shield. A temporary tariff reprieve gave stocks a boost — for now. But other sectors may not be so lucky. My Yahoo Finance colleague Hamza Shaban digs deeper into the winners, losers, and political spin behind the tariff drama. Read more here Nissan (7201.T) plans to reduce production in Japan of its best-selling US model, the Rogue SUV, between May and July, according to a source familiar with the matter. The move marks the latest adjustment by a global carmaker in response to new US import tariffs. Reuters reports: Read more here Honda (HMC) may move some car production from Mexico and Canada to the US, with plans to manufacture 90% of vehicles sold in the country locally, the Nikkei reported Tuesday. The shift comes in response to new US auto tariffs. Reuters reports: Read more here Chinese workers are bearing the brunt of an economic slowdown caused by the US-China trade war. The impact is being felt across the country as a weakened labour market was struck by the erratic tit-for-tat tariffs that erupted over the beginning of 2025. Bloomberg reports: Read more here. Bloomberg News reports: Read more here. Yahoo Finance's Allie Canal writes: Read more here. Yahoo Finance's Jennifer Schonberger reports: Read more here. President Trump just made a variety of comments on tariffs during a media appearance. Some highlights: When the US levies a tariff on an imported good, who pays the price: the manufacturer, the importer, or the consumer? A new study published by the Federal Reserve Bank of Boston found that the consumer ultimately gets charged for the higher cost of importing. Researchers working with Morning Consult asked small- and medium-size businesses about their expectations for tariffs at the end of 2024. They found that firms planned to pass along higher costs from tariffs to their customers by raising prices. Importers said they expected the cost increases to be fully reflected in prices in about two years, but the extent of these price increases would vary under different tariff scenarios. Capital Economics calculates the current effective tariff rate on US imports at 22% after some exemptions on tech products. Last week, the effective rate reached 27%, the highest level in over a century. US President Donald Trump has announced a 90-day pause on proposed tariff hikes. But exporters remain wary, as a 10% flat levy could return if trade talks fall short. Here's a look at what could go missing from American shelves as businesses weigh the cost of additional tariffs and mull reducing their US exposure. Bloomberg News reports: Read more here The world's top two economies appear to be on a long-term path toward decoupling, following a month marked by a sharp rise in China's exports and a trade surplus nearing $103 billion. Bloomberg News reports: Read more here Treasury Secretary Scott Bessent addressed whether he thinks the US's 145% tariff rate on China is permanent, as the tit-for-tat trade war between the two countries escalates. "Look, I think no one thinks that these are sustainable over the long run," Bessent told Yahoo Finance's Brian Sozzi. "But with President Trump, I'm not going to give away his negotiating strategy ... So I think [President Trump] gets maximum strategy because he keeps everything on the table all the time." Treasury Secretary Scott Bessent sat down with Yahoo Finance's Brian Sozzi on Tuesday to discuss tariffs, the bond market, and more. "President Trump wants to be involved," Bessent said about the trade negotiations during the 90-day additional reciprocal tariff pause. He said that the administration is "in rapid motion" setting up a process for evaluating trade deals with the US's largest 14 trading partners other than China. "So in 90 days, are we going to have a complete document, a formal legal document, done and dusted? Not likely," Bessent said. "But I think if we follow the process, we could have substantial clarity ... on those 14 away from China in terms of agreements in principle. And then once we reach a level that we've agreed on, and they've agreed to lower their tariffs, lower their non-tariff barriers, currency manipulation, and subsidies of industry and labor, then I think we can move forward." Bessent continued that countries negotiating with the White House need to bring their "A game." The White House press secretary on Tuesday said "the ball was in China's court" as President Trump pushes for negotiations to tamp down a trade war between the world's two largest economies. "The ball is in China's court. China needs to make a deal with us. We don't have to make a deal with them," Press Secretary Karoline Leavitt said Tuesday, according to Bloomberg, in a statement she said had been dictated by Trump. "There's no difference between China and any other country except they are much larger, and China wants what we have, what every country wants, what we have — the American consumer — or to put another way, they need our money," she said. Per Bloomberg: Johnson & Johnson (JNJ) said Tuesday that it expects about $400 million in tariff-related costs this year — not including possible tariffs on pharmaceutical imports, which Trump alluded are coming soon. The Trump administration has proceeded with its Section 232 investigations into imports of pharmaceuticals and semiconductors in the first step to levy tariffs on those sectors. J&J, which is investing in manufacturing its advanced medicines in the US, said that if additional pharmaceutical tariffs go into effect, they could lead to supply chain issues and shortages. The Associated Press reports: Read more here. Trade talks between the European Union and US made "little progress" over the past several days, and EU negotiators expect the bulk of duties to remain once President Trump's "reciprocal" tariff pause resumes. Per Bloomberg: Trump has taken particular aim at the EU as part of his pledge to reshape the US trade landscape, even with longstanding allies. As Bloomberg notes, the EU has floated that both sides remove tariffs on "industrial goods, including cars," but the US has rejected those terms. Read the full Bloomberg report here. US import prices slipped in March, largely due to a drop in energy costs — a surprise dip. But with trade tensions rising and fresh tariffs looming, that relief may not last. Reuters reports: Read more here Bloomberg reports: Read more here. Vice President JD Vance said that the Trump administration is working with UK Prime Minister Keir Starmer's government to strike a new US-UK trade deal. He noted that the president's cultural affinity for Britain could boost cooperation. The US has imposed a 10% tariff on imports from the UK to the US as well as 25% tariffs on autos, steel, and aluminum. "The President really loves the United Kingdom," Vance said to the online publication UnHerd on Tuesday. "He loved the Queen. He admires and loves the King. It is a very important relationship. And he's a businessman and has a number of important business relationships in [Britain]." "I think there's a good chance that, yes, we'll come to a great agreement that's in the best interest of both countries," Vance added. Read more here. On Monday, the Trump administration opened a probe into pharmaceutical imports, and the president pledged that pharma tariffs would come in the "not-too-distant future." "We don't make our own drugs anymore," Trump said in a media appearance, as my colleague Brett LoGiurato documented here. "All I have to do is impose a tariff. The higher the tariff, the faster they come." Trump has repeatedly singled out Europe — Ireland, in particular — as a target for tariffs. But recent reports suggest that if tariffs do come, Ireland and its US customers won't be completely caught off guard. Reuters reports that Ireland has been rushing to ship pharmaceuticals and medical products to the US ahead of tariffs, including by air. Irish pharma exports to the US surged by more than 450% from the previous year in February from 1.9 billion euros to 10.5 billion euros, Ireland's Central Statistics Office said. Exports also spiked by 130% in January to 9.4 billion euros, suggesting US drugmakers may be stockpiling medicines. Read more here. Big Tech's size is its shield. A temporary tariff reprieve gave stocks a boost — for now. But other sectors may not be so lucky. My Yahoo Finance colleague Hamza Shaban digs deeper into the winners, losers, and political spin behind the tariff drama. Read more here Nissan (7201.T) plans to reduce production in Japan of its best-selling US model, the Rogue SUV, between May and July, according to a source familiar with the matter. The move marks the latest adjustment by a global carmaker in response to new US import tariffs. Reuters reports: Read more here Honda (HMC) may move some car production from Mexico and Canada to the US, with plans to manufacture 90% of vehicles sold in the country locally, the Nikkei reported Tuesday. The shift comes in response to new US auto tariffs. Reuters reports: Read more here Chinese workers are bearing the brunt of an economic slowdown caused by the US-China trade war. The impact is being felt across the country as a weakened labour market was struck by the erratic tit-for-tat tariffs that erupted over the beginning of 2025. Bloomberg reports: Read more here. Bloomberg News reports: Read more here. Yahoo Finance's Allie Canal writes: Read more here. Yahoo Finance's Jennifer Schonberger reports: Read more here. President Trump just made a variety of comments on tariffs during a media appearance. Some highlights: When the US levies a tariff on an imported good, who pays the price: the manufacturer, the importer, or the consumer? A new study published by the Federal Reserve Bank of Boston found that the consumer ultimately gets charged for the higher cost of importing. Researchers working with Morning Consult asked small- and medium-size businesses about their expectations for tariffs at the end of 2024. They found that firms planned to pass along higher costs from tariffs to their customers by raising prices. Importers said they expected the cost increases to be fully reflected in prices in about two years, but the extent of these price increases would vary under different tariff scenarios. Capital Economics calculates the current effective tariff rate on US imports at 22% after some exemptions on tech products. Last week, the effective rate reached 27%, the highest level in over a century. US President Donald Trump has announced a 90-day pause on proposed tariff hikes. But exporters remain wary, as a 10% flat levy could return if trade talks fall short. Here's a look at what could go missing from American shelves as businesses weigh the cost of additional tariffs and mull reducing their US exposure. Bloomberg News reports: Read more here The world's top two economies appear to be on a long-term path toward decoupling, following a month marked by a sharp rise in China's exports and a trade surplus nearing $103 billion. Bloomberg News reports: Read more here
