Latest news with #import
Yahoo
a day ago
- Business
- Yahoo
Tariffs Likely to Spark Price Increases in Steel, Aluminum
President Trump's order doubling the tariff on imported steel and aluminum is expected to touch off a wave of price increases in the U.S. Trump said in a Truth Social post that the 50% tariff on steel and aluminum imports would go into effect next Wednesday.
Car and Driver
4 days ago
- Automotive
- Car and Driver
Volkswagen Promises Not to Raise Prices Through At Least June
Volkswagen says it won't raise prices on its new cars from now through June. VW says the pricing freeze applies to the company's entire lineup, from the sub-$30K Taos to the $62K-plus For now, Volkswagen is prepared to eat the cost of the current 25 percent tariffs on vehicles imported into the United States. Volkswagen has an important announcement to make: It's not raising new-car prices! At least not until after the month of June. The move comes as most consumers wait with bated breath to find out how much the tariffs implemented by the Trump administration will cause the cost of buying a new car, truck, or SUV to climb. Volkswagen Andi Hedrick | Car and Driver VW says that even though it's spending more money to import certain models, it's willing to eat those costs for the time being. That means it's freezing the MSRP for all of its models, from the entry-level Taos SUV and Jetta sedan to the three-row Atlas SUV and the Microbus-inspired EV. The latter is the brand's most expensive model, with prices that range from about $62K to over $72K. View Exterior Photos Volkswagen Volkswagen also just introduced refreshed versions of the sporty Golf GTI and Golf R, which start at $33,670 and $48,325, respectively. Like the rest of the lineup, their prices are also set in stone through at least June. Eric Stafford Managing Editor, News Eric Stafford's automobile addiction began before he could walk, and it has fueled his passion to write news, reviews, and more for Car and Driver since 2016. His aspiration growing up was to become a millionaire with a Jay Leno–like car collection. Apparently, getting rich is harder than social-media influencers make it seem, so he avoided financial success entirely to become an automotive journalist and drive new cars for a living. After earning a journalism degree at Central Michigan University and working at a daily newspaper, the years of basically burning money on failed project cars and lemon-flavored jalopies finally paid off when Car and Driver hired him. His garage currently includes a 2010 Acura RDX, a manual '97 Chevy Camaro Z/28, and a '90 Honda CRX Si. Read full bio
The Independent
4 days ago
- Business
- The Independent
Tips for planning a wedding at a time of new tariffs
Weddings in the United States are often dependent on goods imported from countries hit with new tariffs. Vendors and engaged couples are navigating higher prices and supply worries after President Donald Trump went to war over trade around the globe. Exports from dozens of countries, including major centers for goods such as cut flowers, wedding gowns and decorations, are now subject to extra taxes when they reach the U.S. Wedding professionals see potential for pivots to alternative sources. Some recommendations for people who are planning a wedding while the tariff situation remains in flux: TIP: Rethink how you buy Buy local. Buy from non-tariff countries. Buy used. Buy from vendors that promise not to pass on the new taxes. Some businesses are breaking out line items stating what new costs they're imposing on consumers. Some are not. Without that information, it's harder to gauge quality by price. Does something cost $25 because it's worth $25 or because it's a $10 item with a huge markup slapped on? Dig into reviews if buying online. If buying offline, take an up-close look at textiles, candles and other goods. TIP: A warehouse by any other name ... Katie Sexton in Chicago is a project manager for an international e-commerce shipping company. She's also getting married in June 2026. She has warehouse-size thoughts on getting around tariffs. The best bet to see the full pricing picture of an item is to find brands that are shipping it from within the U.S., she said. A company doing that will most likely have adjusted their prices higher already to include the tariff cost they incurred upon importing to the warehouse. That means fewer surprises at checkout. Transparency is a friend as tariff drama plays out. Weddings are often heavy on rentals of all kinds: tables, chairs, linens, glassware, dinnerware, dance floors, lighting, tents. And companies special order items all the time. Tariff uncertainty has complicated custom orders because of pricing instability a year or more before a wedding, said Morgan Montgomery, co-owner of the rental company Paisley and Jade in Richmond, Virginia. She buys rental items from China. 'If they wait to make a decision now, we will need to re-quote, as our suppliers are tweaking prices constantly,' she said. The solution? Work with the existing inventory of your vendor, even if it stifles your creative vision. TIP: Think long and hard about contracts Vijay Goel, co-owner of Los Angeles venue 440 Elm and caterer Bite Catering Couture, is among wedding vendors pointing to the need to tweak contracts. He recommends booking for rental goods with a substitution clause. That would allow a couple to switch to something else if the price of an item rises closer to their wedding date. 'Maybe Napa sparkling wines will make more sense than French Champagne? Select vendors that have a flexible mindset and the ability to help you navigate choices,' Goel said. No crystal ball required. TIP: Is it a destination wedding? Pack it rather than ship it Jaime Coast, who designs wedding invitations and other stationary as owner of the online shop Cotton and Bow, recently had clients in the U.S. get married in Canada. They needed paper goods shipped to their wedding planner before their big day. 'I tried to estimate what the taxes would be in advance on the Canadian government website, but the calculators hadn't been updated yet. What was estimated to be a $60 bill turned into a $500 bill upon pickup,' she said. Her tip? Bring items with you when possible and avoid shipping altogether. TIP: Not all flowers are created equal Kimberly Sisti, owner, lead florist and wedding planner for Sisti & Co. in San Diego, said prices are already out of control. And that includes U.S. growers who are seeing higher demand and may be taking advantage of tariff chaos by raising prices. She has an unusual tip: Look for a florist whose prices already well exceed business costs. 'If you have a healthy markup on your labor and goods, then a 10% tariff shouldn't break the bank and affect your customers at all," she said. "In fact, you can probably absorb the cost and keep your clients confident and happy.'
ABC News
5 days ago
- Business
- ABC News
Kiribati womens minister says kava abuse is wrecking families
A government minister in Kiribati is worried the amount of kava being imported and consumed is threatening the country's development and peoples' way of life. The concern was sparked by a Vanuatu Daily Post newspaper report saying Kiribati was the number one export destination for Vanuatu-grown kava. Last year Kiribati imported 280 tonnes of kava from Vanuatu, enough to make two-point-four million litres of the mildly intoxicating beverage, the paper said. That's an alarming amount for a country with a total population of 130-thousand people according to Ruth Cross Kwansing, the minister for women, youth and sports.
Asharq Al-Awsat
24-05-2025
- Business
- Asharq Al-Awsat
Egypt Seeks Up to 60 LNG Shipments
Egypt is in advanced talks with global energy and trading firms to secure between 40 and 60 shipments of liquefied natural gas (LNG), aiming to meet urgent energy needs before summer demand peaks, according to sources familiar with the matter cited by Reuters. Cairo is negotiating with companies including Saudi Aramco, Trafigura, and Vitol for LNG supply deals extending through 2028, signaling a strategic shift from exporter to long-term importer amid declining domestic production, Asharq Bloomberg reported. Sources say the Egyptian Natural Gas Holding Company (EGAS) has received 14 bids for supply contracts ranging from 18 months to three years. The rising demand this year could push Egypt's monthly LNG import bill to nearly $3 billion starting in July, up from approximately $2 billion last year. This move reflects Egypt's effort to lock in long-term contracts to reduce exposure to volatile spot market prices. It also underscores the country's deepening energy challenges: a sharp drop in gas production, increasing population, and soaring summer temperatures are straining domestic supply and forcing reliance on global markets. Contract awards are expected next week. Plans call for 110 LNG shipments in the second half of 2025, 254 in 2026, and 130 in the first half of 2027. One source said bids price LNG at 80 to 95 cents per million British thermal units (MMBtu) above the European benchmark, with payment deferrals of up to 180 days. European gas futures currently trade at about $12 per MMBtu, though LNG cargoes typically sell at a discount. Egypt is also expanding infrastructure, including the addition of floating storage and regasification units, and is negotiating long-term supply deals with Qatar. A recent Goldman Sachs report estimated Egypt's 2024 energy deficit at over $11.3 billion, doubling the current account shortfall to 6.2% of GDP, compared to 3.2% the previous year. President Abdel Fattah al-Sisi has directed the government to preempt power outages this summer, according to a presidential statement this week. A government source told Reuters Egypt is also considering importing at least 1 million tons of fuel oil, though LNG remains the preferred option due to its more flexible financing. With gas output in February hitting its lowest level in nine years, Egypt imported 1.84 million tons of LNG in early 2025—roughly 75% of total 2024 imports, according to S&P Global Commodity Insights.
