Confidence among German firms unexpectedly improved to the highest since 2022 after the European Union struck a trade deal with the US, despite some criticizing higher tariffs. “Companies are mostly hoping for things to get better,” Ifo President Clemens Fuest told Bloomberg TV on Monday. “But if we look at order intake and other current indicators, hard facts, we … Read More
Canada will remove all tariffs on goods from the United States that are covered by the Canada-U.S.-Mexico Agreement (CUSMA) by Sept. 1, Prime Minister Mark Carney announced on Friday. The prime minister said Canada will maintain its tariffs on steel, aluminum and autos as the Liberal government works with the U.S. to craft a new … Read More
In the middle of Indiana cornfields, a company is cranking out thousands of bicycles every day — all made in Seymour. Guardian Bikes, originally founded in Texas, has planted strong roots in southern Indiana. Spread across eight buildings, the company makes nearly 90% of every part that goes into its bikes right on site. Inside … Read More
Toyota, Japan’s largest automaker, told CNBC on Thursday that when its U.S. affiliate raised prices in July, it was “not in response to the tariffs or prospects of increases, but rather a regular, annual price increase to reflect increases in various operational costs.” “We have said that we would observe the situation concerning the tariffs … Read More
President Donald Trump’s increased tariffs on U.S. imports from foreign countries could reduce the national deficit by $4 trillion over the next decade, the Congressional Budget Office estimated on Friday. If Trump’s global tariff hikes continue, increased revenue could shrink primary deficits by $3.3 trillion and cut federal interest payments by $0.7 trillion over the … Read More
Updating lines with robotics, metrology, AGVs and AMRs to boost accuracy, efficiency and safety. When GE Appliances redesigned one of its freestanding range platforms, Luther Ingram, president and executive director at Roper Corporation and plant manager at Ropers’s facility in LaFayette, Georgia, decided it was also time to redesign the manufacturing lines that produced the … Read More
Ontario lost tens of thousands of jobs in the past three months, according to the province’s financial watchdog, as the impacts of tariffs from the United States begin to bite. A new report published by the Financial Accountability Officer of Ontario found employment had dropped by 38,000 jobs in the province during the second quarter … Read More
The Bentonville, Arkansas-based retailer says second-quarter sales rose in each business segment, with total revenues increasing 4.8% to $177.4 billion. A day after Target reported sales decline, Walmart said its comp store sales gained 4.6%, buoyed by sales increases in the mid-single digits in grocery and the mid-teens in health and wellness. Revenue at Walmart … Read More
“Exports through the first 20 days of August came in stronger than expected, driven by a surge in semiconductor shipments,” said Bloomberg economist Hyosung Kwon. “Strong global demand for AI-related computer chips lifted overall exports, while car shipments also jumped — probably supported by an expected decrease in US tariffs on Korean cars to 15%.” … Read More
S&P Global on Monday affirmed its “AA+” credit rating on the U.S., saying the revenue from President Donald Trump’s tariffs will offset the fiscal hit from his massive tax-cut and spending bill. “Amid the rise in effective tariff rates, we expect meaningful tariff revenue to generally offset weaker fiscal outcomes that might otherwise be associated … Read More
