U.S. President Donald Trump’s tariff pause gives Temu and Shein a temporary window of opportunity to restock U.S.-based warehouses and re-evaluate their supply chain management, experts and insiders say.On Monday, the U.S. and China agreed to lower tariffs on most Chinese imports to 30% for 90 days. The agreement included a so-called “de minimis” rule relaxation, effective May 14, which will see low-value packages shipped to the U.S. from China now be taxed at a tariff rate of 54%, down from 120% prior.Previous tariff rates had driven price hikes for U.S. consumers on Shein’s platforms. Meanwhile, Temu halted shipments directly…
Author: usaeverydaylife
Check out the companies making headlines in premarket trading. UnitedHealth — Shares dropped 7% in the premarket Tuesday after the company announced it was suspending its 2025 outlook due to higher-than-expected medical expenditures. UnitedHealth also announced CEO Andrew Witty was stepping down, effective immediately, for personal reasons. Stephen Hemsley will replace Witty as chief executive. Rigetti Computing — Shares tumbled 11.4% after the quantum computing firm recorded $1.5 million for first-quarter revenue, below the $2.6 million consensus forecast from analysts polled by FactSet. Coinbase — Shares rallied 9.2% following the announcement that the crypto trading platform will join the S…
A more upbeat outlook for the oil market could lead to more upside for Valero Energy shares, according to Goldman Sachs. The firm upgraded the refiner to buy from neutral and hiked its price target to $154 from $127, implying 18% upside from Monday’s close. “We believe supply/demand dynamics have improved and point to two key developments: (1) OPEC+ announced adding incremental supply into the market and (2) demand has held in better than expected,” analyst Neil Mehta wrote in a Tuesday note to clients. “Given these developments, we see a more constructive refining backdrop and view Valero as a…
Customers line up at the check out booth on April 18, 2025 at a Costco branch in Niantic, Connecticut. Robert Nickelsberg | Getty ImagesInflation was slightly lower than expected in April as President Donald Trump’s tariffs just began hitting the slowing U.S. economy, according to a Labor Department report Tuesday.The consumer price index, which measures the costs for a broad range of goods and services, rose a seasonally adjusted 0.2% for the month, putting the 12-month inflation rate at 2.3%, its lowest since February 2021, the Bureau of Labor Statistics said. The monthly reading was in line with the Dow…
An aerial view of homes destroyed in the Palisades Fire on January 27, 2025 in Pacific Palisades, California. Mario Tama | Getty ImagesGermany’s biggest reinsurers took a $1.9 billion profit hit in the first quarter from claims related to the recent Los Angeles wildfires.Munich Re, the world’s largest reinsurance company, said Tuesday that it anticipated all claims attributable to the wildfires will total around 1.1 billion euros. Meanwhile, Hannover Re, the world’s third largest reinsurer, said its largest net individual loss amounted to 631.4 million euros on the back of the wildfires.Combined, the two companies’ wildfire costs amounted to around 1.73…
President Trump is arrived in Saudi Arabia on Tuesday for the first major overseas trip of his second term. Over four days, he also plans to visit the United Arab Emirates and Qatar, from which he is trying to acquire a plane for use as Air Force One.The Middle East has big security challenges, but Mr. Trump is there for deals.Mr. Trump is not planning a visit to Israel, although the war in Gaza is raging and Hamas still holds hostages. And he has no intention of visiting Oman, where Iranian nuclear negotiations are taking place. Instead, he wants to…
The outlook for Caterpillar is getting better and investors should scoop up the stock, according to Baird. The firm upgraded shares of the construction equipment giant to outperform from neutral and upped its price target to $395 from $309, which reflects 15.3% upside from Monday’s close. Baird’s upgrade comes after President Donald Trump announced a 90-day tariff reprieve on tariffs targeting Chinese imports. As a global industrial giant, Caterpillar can be vulnerable to changes in global trade policy. “The easing of tariff impacts adds weight to 2025 as a trough EPS year and is likely to drive additional multiple expansion…
Chinese President Xi Jinping meets with U.S. President Donald Trump in Osaka, Japan, June 29, 2019. Xinhua News Agency | Xinhua News Agency | Getty ImagesThe U.S.-China trade truce reached in Geneva was greeted with relief — and in some corners, even celebration. Stock markets surged. Commentators praised the “breakthrough.” But let’s be clear: optimism should be tempered with caution. What we’re witnessing may not be the end of the crisis — rather, it could be the eye of the hurricane. And like all hurricanes, the backside of the storm could be even more punishing than the front.From Donald Trump’s…
OpenAI CEO Sam Altman speaks next to SoftBank CEO Masayoshi Son after U.S. President Donald Trump delivered remarks on AI infrastructure at the Roosevelt Room in the White House in Washington on Jan. 21, 2025.Carlos Barria | ReutersOpenAI said last week that it would restructure in a format that allows its non-profit entity to retain ultimate control, a plan that on Tuesday received the blessing of one of the U.S. artificial intelligence startup’s biggest backers — Japanese giant SoftBank.The endorsement of SoftBank — the first time the company has publicly green lit the plan — is key because the Japanese…
Another surge in trade from China to the U.S. should be getting underway, according to retailers and logistics executives, as the initial trade deal struck by the U.S. and China leads importers to move forward with shipments during the 90-day pause on the steepest tariffs implemented by President Donald Trump.On Monday, the U.S. and Chinese governments announced a trade deal, though the details of the U.S.-China pact are still sketchy. But in the short term the most important aspect of the agreement is the suspension of the so-called reciprocal tariffs, though broad-based 10% duties will remain in effect, as well as a…
