Tariffs

BMW sees no need for special deal to avoid US tariffs, executive says

BMW does not see the need to negotiate a special deal with the United States to avoid import tariffs, its chief purchasing officer said, pointing to the carmaker's sizeable presence in the country and good relations with U.S. government officials. BMW's plant in South Carolina is its biggest worldwide by output and a major exporter to markets including China, Germany, and Britain. This gives the company scope to reshuffle production and make more for the local market if U.S. President Donald Trump follows through on threats to impose tariffs of around 25% on vehicle imports.

US refiners mull switch to alternative lighter crudes amid Trump tariff fears

Top U.S. refiners are poised to seek alternative sources for heavy, sour crudes, including running more domestic grades, as they await clarity around U.S. President Donald Trump's threatened tariffs on imports from the nation's top crude suppliers Canada and Mexico, executives said. Running more domestic crude, which is predominantly light, sweet shale oil, through U.S. refineries could be a win for Trump, who has vowed to boost the nation's energy production and championed the fossil fuel industry. The tariffs, however, have generated concern among refiners, who are already watching profits slide from record highs in 2022 on softer demand, as they would now take a hit from higher feedstock costs.

Morning Bid: Caution prevails amid jitters over tariffs and stagflation

A retreat from record highs on Donald Trump's one-month anniversary in office put Wall Street on the same shaky ground as Asian markets that have been feeling the sting from his tariff threats and tack away from historic security alliances. It didn't help that Walmart, the world's largest retailer, gave a gloomy sales and profit outlook anticipating inflation-weary consumers would tighten their wallets after several quarters of solid growth. A 6.5% slump in Walmart was a more decisive negative behind the S&P 500's 0.43% decline than the half-hearted bullishness behind consecutive record high closes this week.

Apple’s Tim Cook Meeting With Trump as Tariffs Threaten iPhones

(Bloomberg) -- President Donald Trump is meeting with Apple Inc. CEO Tim Cook at the White House on Thursday, according to a person familiar with their plans.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalTrump Targets $128 Billion California High-Speed Rail ProjectAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’The person shared t

Dow falls 450 points as inflation and tariff fears hit Main Street

US stocks fell Thursday after the world’s largest retailer warned that 2025 would be a rollercoaster ride and said it expected sales to slow this year amid fears that consumers are tapped out.

Walmart CFO cautions electronics, general merchandise could get more expensive with tariffs

Walmart may pass along price increases to consumers if costs rise.

Market jitters over trade fade as investors call 'Tariff Man' Trump's bluff

LONDON (Reuters) -The outsized swings in markets on the back of Donald Trump's every word on tariffs just weeks ago have faded to mere flickers, as investors switch their focus elsewhere, and bet against a full-scale trade war really materialising. China is one of the few trading partners on which Trump has increased tariffs, but Hong Kong's Hang Seng index is up 14% year to date, led by a surge in tech stocks. Similarly, traders are banking on less volatility in the Canadian dollar and Mexican peso - both slightly stronger than they were at the start of the year - and an index of European auto stocks - also vulnerable to tariffs - hit a seven-month high this week.

Gold climbs to new high as buyers hedge against Trump tariff plans

Gold made another all-time high on Thursday as investors focus on geopolitical tensions and Trump's tariff plan.

Hasbro stock soars as CEO says Trump tariffs are manageable but unwelcome

Hasbro CEO Chris Cocks says overcoming tariffs would be a tough lift.

Mexico’s Central Bank Looks to Easing Amid US Tariff Pressure

(Bloomberg) -- Mexican central bank policymakers pledged to continue monetary policy easing despite the uncertainty generated by the US proposal to implement tariffs on all of Mexico’s exports.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsChild Migrant Watchdog Gutted in DOGE CutsTrump Targets $128 Billion California High-Speed Rail ProjectSe

Trump tariffs may push Airbus to prioritise non-US clients, CEO says

Airbus could prioritise deliveries to non-U.S. customers if tariffs imposed by U.S. President Donald Trump were to disrupt the company's imports in the country, CEO Guillaume Faury said in an interview with CNBC on Thursday. Trump said on Wednesday he will announce new tariffs over the next month or sooner, adding to duties he has introduced since taking office, which could affect the aerospace industry and its suppliers among other sectors. Earlier in the day, he had told journalists while presenting Airbus' annual results in Toulouse that the group "should not be directly impacted by tariffs".

Swiss Gold Exports to US Surge to Record on Tariff Fears

(Bloomberg) -- Gold exports to the US from Europe’s main refining hub in Switzerland surged to the highest level on record in January, after tariff fears sparked a rush to bring gold to the US.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsChild Migrant Watchdog Gutted in DOGE CutsTrump Targets $128 Billion California High-Speed Rail ProjectSw

Brazil steelmaker Gerdau rethinks Mexico mill after Trump tariffs

Brazilian steelmaker Gerdau may opt to bump up its output capacity in the United States instead of building a new plant in Mexico, its CEO said on Thursday, as tariffs implemented by President Donald Trump shake up global trade. Gerdau announced last year it was considering installing a new special steel mill in Mexico, which would have an annual capacity of some 600,000 metric tons and require investment of $500 million to $600 million. Gerdau initially expected to reach a final investment decision by the end of 2024 to start building the plant this year, but it has now postponed the decision until July.

EU trade chief says US shows willingness to work avoid tariff pain

WASHINGTON (Reuters) -European Union trade chief Maros Sefcovic said on Thursday that his top priority in trade talks with President Donald Trump's administration is to avoid a period of economic pain for both sides from unilateral U.S. tariffs and EU countermeasures. Sefcovic, speaking to reporters after a four-hour meeting in Washington on Wednesday with Trump's top trade officials, said Europe was interested in buying more U.S. liquefied natural gas (LNG) and he saw some willingness on the part of the U.S. to mutually reduce tariffs. Sefcovic said he discussed his goals with newly confirmed U.S. Commerce Secretary Howard Lutnick, top White House economic adviser Kevin Hassett and U.S. Trade Representative nominee Jamieson Greer as the EU works to avert tariffs promised by Trump.

Mercedes-Benz CEO on Trump tariffs: 'We are an American company too'

Auto tariffs are the topic of the moment with industry leaders. Mercedes-Benz CEO Ola Källenius says

Malaysia says ASEAN plans U.S summit to discuss tariff concerns

The Southeast Asian bloc ASEAN plans to hold a summit with the United States so its member countries can present their views on planned U.S. tariffs, Malaysia's Foreign Minister said on Thursday. U.S. President Donald Trump has said he will impose tariffs of around 25% on automotive, semiconductor and pharmaceutical imports. Foreign Minister Mohamad Hasan told Parliament that such tariffs would be a challenge for Malaysia as electrical and electronics products make up 60% of its trade with the United States."This is a huge blow if we can't get this resolved soon," he said, adding that ASEAN planned to hold a special summit to present the region's case to the U.S. government.

Walmart rolled through 2024, but uncertainty about consumers and tariffs seep into year ahead

Walmart delivered another year of strong sales and profits as its competitive prices became a strong magnet for inflation-weary shoppers. The financial outlook from nation's largest retailer, which has thrived amid stubborn inflation, delivered a jolt across the retail sector. Walmart sees per share profit over the next year coming in as much as 27 cents below analyst projections, a notable shift that sent company shares down more than 6% in midday trading.

US Rate Volatility Craters as Tariff-Wary Bond Traders Pull Back

(Bloomberg) -- Treasury traders are heading to the sidelines amid uncertainty over an expanding global trade war, sending one measure of volatility to its lowest level in three years and leaving yields rangebound.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsChild Migrant Watchdog Gutted in DOGE CutsChicago Council Delays $830 Million Bond Vo

Canada's Teck sees no material impact from Trump tariffs

(Reuters) -Canadian miner Teck Resources said on Thursday U.S. President Donald Trump's proposed tariffs on Canadian imports will not have any material impact on its business. "Our copper and zinc concentrate sales would not be impacted as we primarily sell to Asia and Europe and not into the U.S.," CEO Jonathan Price said on a post-earnings call. While Teck produces a large proportion of these diverse group of metals, they comprise less than 15% of the company's revenue, Price said.

Birkenstock flags tariff risk after strong holiday sales

(Reuters) -Birkenstock, famous for its cork-based sandals, reported strong sales over the Christmas holiday shopping season but stopped short of raising its earnings targets as executives struck a note of caution over tariffs and other economic risks. "We have a very strong order book, but keep in mind that there's a lot of macroeconomic uncertainty [on] interest rates, currency movements, tariffs," CEO Oliver Reichert said on a call with analysts after the results on Thursday. Birkenstock shares fell 2% in early trading in New York.

Most US manufacturers forecast layoffs at Vietnam operations with Trump tariffs, survey shows

Most U.S. manufacturers surveyed by the American Chamber of Commerce in Vietnam said they would be likely forced to lay off workers if the Trump administration imposed tariffs on the export-reliant Southeast Asian country. The survey was conducted from February 4-11 over the period when U.S. President Donald Trump had already approved 25% tariffs on steel and aluminium and had pre-announced broader reciprocal tariffs on countries with trade imbalances, and sector-specific duties on semiconductors, cars and pharmaceuticals. "Among manufacturers, nearly two-thirds foresee potential layoffs," AmCham said, noting the percentage fell to less than half for all businesses.

Trump’s Canada Tariffs ‘Make No Sense’, Says Trade Minister Ng

(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsChild Migrant Watchdog Gutted in DOGE CutsChicago Council Delays $830 Million Bond Vote Amid ScrutinyPresident Donald Trump’s tariffs only make goods more expensive for Americans, said Canada’s Trade Minister

Rio Tinto Has Backup Plan If U.S. Imposes Tariffs on Aluminum Imports

The biggest shipper of foreign aluminum into the U.S. has contingency plans ready if President Trump imposes a 25% tariff on imports of the metal, with Europe a potential destination.

Australia's Wesfarmers sees tariff inflation risk as profit beats forecast

Australia's biggest non-food retailer Wesfarmers said it may raise prices as a soft local dollar drives up supply costs and warned on Thursday that tariffs ordered by U.S. President Donald Trump may spur inflation. The owner of Australia's biggest hardware chain, Bunnings, and budget department store chain Kmart also said the country's first interest rate cut in five years, announced this week, would help households but alone could not end high living costs nor offset wide-ranging geopolitical headwinds. "You just need to look at some of the challenges in the housing sector that are fairly well understood and reported," Wesfarmers CEO Rob Scott told journalists.

US dollar stumbles on 'tariff fatigue'; yen soars as BOJ hike bets rise

The U.S. dollar dropped against major currencies on Thursday, as investors took a step back and assessed President Donald Trump's latest tariff plans, while the yen rose to 11-week peaks versus the greenback as bets increased for further rate hikes by the Bank of Japan (BOJ). U.S. data showing initial jobless claims, which were in line with expectations, and a report indicating factory output growth slowed in the mid-Atlantic region in February had minimal impact on the currency market. The reports have not changed expectations that the Federal Reserve will remain on hold for several months.

Argentina's Milei likely to discuss US aluminum tariffs in Washington

Argentine President Javier Milei will likely discuss the recently announced tariff hikes on U.S. imports of steel and aluminum in an upcoming visit to Washington, the governor of a top aluminum-producing province said on Wednesday. Governor Ignacio Torres of the Chubut province, home to aluminum maker Aluar, said Argentine officials had already discussed the issue with the Latin American nation's trade secretary and the U.S. embassy in the country. Milei will be in the U.S. from Thursday to Saturday, where he's set to meet with Elon Musk and the head of the International Monetary Fund and will coincide with President Donald Trump at the Conservative Political Action Conference, presidential spokesman Manuel Adorni said on Wednesday.

Rio Tinto CEO Goes to Washington to Get Handle on Trump Tariffs

(Bloomberg) -- The chief executive officer of Rio Tinto Group took the unusual step of hosting the UK company’s earnings from Washington, as part of a whirlwind trip to understand what President Donald Trump intends to accomplish with his expanding trade war. Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsChild Migrant Watchdog Gutted in DOGE

Stock market today: S&P 500 pops to another record while Dow, Nasdaq rise with tariffs, Fed minutes in focus

Investors are weighing Trump's latest tariff salvo and digesting Fed minutes for insight into future policy.

EU trade chief ready to discuss trade deals, lower tariffs with Trump

WASHINGTON (Reuters) -The European Union's top trade officials said on Wednesday the bloc was interested in making mutually beneficial trade deals with U.S. President Donald Trump, and was ready to discuss the potential for reducing or eliminating tariffs on motor vehicles and other goods. Maros Sefcovic, commissioner for trade and economic security, told an American Enterprise Institute event in Washington that he would tell Trump administration trade officials that he hoped to avoid unilateral U.S. tariffs and European retaliation.

China ETFs draw bullish options bets on AI play and eased tariff fears

U.S.-listed exchange-traded funds focused on China have drawn bullish options flows as the emergence of artificial intelligence startup DeepSeek brightens the outlook for Chinese tech shares, and tariff-related news seemed less threatening than before. Traders have been loading up in recent weeks on bullish options on the KraneShares CSI China Internet ETF and the iShares Trust-China Large-Cap ETF, the two largest Chinese equity ETFs with combined assets of about $15 billion, options data showed. One-month average daily trading volume in KraneShares CSI China Internet ETF call options, typically bought to position for upside, outnumbers defensive put options nearly 5-to-1, close to the most bullish this measure has been in about four years, Trade Alert data showed.

Copper Holds Ground While Citi Sees Prices Falling on Tariffs

(Bloomberg) -- Copper traded little changed in a mixed session on the London Metal Exchange while Citigroup Inc. flagged risks of a pullback in prices from the impact of US tariffs on demand.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsChild Migrant Watchdog Gutted in DOGE CutsAirbnb Billionaire Plans Factory-Built Homes for LA Fire VictimsChicago Council Delays $830 Million Bond Vote Amid ScrutinyT

GM CFO says if US tariffs are permanent, company must consider plant locations

GM and other automakers are closely monitoring how tariffs on vehicles and parts from Canada, Mexico and elsewhere will impact their business. GM executives have said they've been moving more inventory across borders ahead of tariffs potentially hitting and are evaluating other actions to mitigate costs on the business. President Donald Trump on Tuesday said he will introduce a 25% tariff on automobiles starting in April.

Trump Floats 25% Auto, Drug, Chip Tariffs, Upping Trade Threats

(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsChild Migrant Watchdog Gutted in DOGE CutsPresident Donald Trump said he would likely impose tariffs on automobile, semiconductor and pharmaceutical imports of around 25%, with an announcement coming as soon as April 2, a move that would dramatically widen the preside

Frigid temperatures chill US single-family homebuilding; tariffs a potential drag

U.S. single-family homebuilding fell sharply in January amid disruptions from snowstorms and freezing temperatures, with a rebound likely to be limited by higher costs from tariffs on imports and elevated mortgage rates. The report from the Commerce Department on Wednesday mirrored similar weather distortions that impacted retail sales and job growth last month, and suggested that economic activity slowed early in the first quarter. Part of the decline in housing starts was normalization following outsized increases in November and December amid recovery from Hurricane Helene.

The one thing Elon Musk doesn't tweet about: Tariffs

Elon Musk posts a lot but one subject was glaringly absent in recent weeks: President Donald Trump's tariff plans.

Walmart faces some tariff challenges as Wall Street awaits record-breaking sales

Penny-pinching Walmart shoppers focus much more on getting the lowest prices than on whether products are made in the U.S., Canada, China or elsewhere, Walmart executives have said. When Walmart discloses results on Thursday, the chain of more than 4,600 U.S. stores is likely to show that it rang up record annual sales, according to LSEG estimates. Walmart revenue rose by roughly 5% to $680.47 billion for the year ending January 31, 2025, according to LSEG estimates ahead of the results.

Fed concerns rise as tariff threats ratchet higher and wider

U.S. Federal Reserve officials remain uncertain about the impact tariffs might have on inflation, but have begun outlining more serious risks to supply chains, public expectations and ultimately prices as the scope of the Trump administration's plans for import taxes has become clearer. The trade war touched off during President Donald Trump's first term eventually prompted the Fed to lower interest rates because, rather than feeding inflation, the global and U.S. growth outlook began to dim. But with a high inflation episode still top of mind, consumers still spending, and higher sensitivity at the Fed to how supply disruptions can create persistent inflation, the sweep and extent of Trump's plans are causing concern.

Thai Feed Mills Eye $2.8 Billion of US Crops Amid Tariff Risks

(Bloomberg) -- Thailand’s feed industry is pitching to buy about $2.8 billion worth of agricultural commodities annually from the US instead of other suppliers, as the Southeast Asian nation seeks to narrow its $35 billion trade surplus and head off possible tariffs on its own exports. Most Read from BloombergSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsWhy Barcelona Bought the Building That Symbolizes Its Housing CrisisChild Migrant Watchdog Gutted in DOGE CutsPor qué Barcelona c

Japan Broaches Car Tariffs With US as Trump Threatens Hikes

(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here.Most Read from BloombergWhy Barcelona Bought the Building That Symbolizes Its Housing CrisisSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsPor qué Barcelona compró el edificio que simboliza su crisis inmobiliariaTrump Child Refugee Agency Shares Data With Immigration EnforcersA Filmmaker’s Surreal Journey Into His Own Private WinnipegJapan has raised the issue of auto tariffs with the US after P

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