Steel and aluminum tariffs...

[velik_m]

AMD CEO Sees Chips From TSMC’s US Plant Costing 5%-20% More

Advanced Micro Devices Inc. Chief Executive Officer Lisa Su said that the chips her company gets from supplier Taiwan Semiconductor Manufacturing Co. cost more when they’re produced in TSMC’s Arizona facilities.
Compared with similar parts from factories in Taiwan, the US chips will be “more than 5% but less than 20%” in terms of higher costs, she said at an AI event in Washington Wednesday. AMD expects its first chips from TSMC’s Arizona facilities by the end of the year, Su said.

...

https://www.bloomberg.com/news/artic...g-5-to-20-more

[velik_m]

Puma shares plunge 17% after full-year sales, profit outlook cut on U.S. tariffs

...
“Key factors include muted brand momentum, shifts in channel mix and quality, the impact of U.S. Tariffs, and elevated inventory levels,” it added.

The company said it was reducing imports to the U.S. from China and that it planned to raise prices from the fourth quarter starting in October, but said it still expects U.S. tariffs to have a mitigated negative impact on 2025 gross profit of around 80 million euros.

It added that it had frontloaded deliveries to the U.S. ahead of tariff deadlines, which has led to higher inventory levels.
...

Puma’s share price has halved so far this year as the retailer has confronted trade pressures and declining consumer demand in the highly compe ive sportwear market.

The company said back in May that it anticipated industry-wide price hikes as a results of trade tariffs, but noted that it expected brands with greater dominance in the U.S. to lead the charge.

“We don’t want to be the leader in terms of the pricing change in U.S. markets,” Chief Financial Officer Markus Neubrand said at the time. “There are other players in our industry where the U.S. is far more relevant.”

https://www.cnbc.com/2025/07/25/puma...s-tariffs.html

[Winehole23]

when you don't have a written down deal, is it really a deal?

[Blake]

when you don't have a written down deal, is it really a deal?

Shocker. These buffoons literally believe every single thing Trump tells them without any validation request.

[Winehole23]

Shocker. These buffoons literally believe every single thing Trump tells them without any validation request.

Fuhrerprinzip

The leader is the living embodiment of the law and what he says, goes

[koriwhat]

Shocker. These buffoons literally believe every single thing Trump tells them without any validation request.

Projection at its finest.

[velik_m]

An emboldened China eyes more concessions from US at Stockholm trade talks

For the third time in as many months, US and Chinese officials will meet in Europe for trade talks — and this time, Beijing is arriving at the negotiating table more emboldened than ever.

Its firm grip on strategic minerals has compelled the Trump administration to roll back some export curbs on China, including a stunning reversal of the ban on sales of a key Nvidia AI chip.

Meanwhile, the Chinese economy has delivered better-than-expected growth months into the trade war, according to government data, posting a record trade surplus that underscores the resilience of its exports as they pivot away from the US market.

And just a few days ago, Beijing reinforced its tough posture at a key summit with the European Union, offering little to address the bloc’s concerns spanning from trade imbalances to the Ukraine war.

...

https://edition.cnn.com/2025/07/27/b...kholm-intl-hnk

[Winehole23]

tariffs are inherently inflationary, and inflation is already starting to bite

Yale’s Budget Lab estimates that it would cost the average household $2,770 worth of disposable income per year if tariffs stayed at their current rate indefinitely, with the worst impact—especially in the short term—on the poorest Americans.



(Graphic: Yale Budget Lab)

But they are set to grow more intense beginning on August 1, when Trump has said he’ll roll out new levies on imports from some of America’s top trading partners, including Canada, the European Union, Mexico, Brazil, and South Korea.


According to economists who spoke with Vox, the worst effects are likely yet to come. Preston Caldwell, chief U.S. economist for Morningstar, said inflation would likely peak in 2026 rather than 2025.

https://www.commondreams.org/news/tr...iving-struggle

[Winehole23]

ok, this is the HK paper of record

tariff deadline with China to be punted another 90 days

Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday, according to sources close to the matter on both sides.

China and the United States agreed in May to remove most of the heavy tariffs levied on each other’s goods for 90 days while continuing trade negotiations. That suspension is set to expire on August 12.

During the third round of trade negotiations between the world’s two biggest economies, both will expound their views on major sticking points – such as the US’ concerns over China’s industrial overcapacity – rather than achieve specific breakthroughs, the sources said.

One source said that, during the expected 90-day extension, the two nations will commit to not impose additional tariffs on each other, nor escalate the trade war by other means.

https://www.scmp.com/economy/china-e...0-days-sources

[ChumpDumper]

Swedish TACO.

[Winehole23]

Swedish TACO.

this is what Nutlick said this morning

[Winehole23]

"just bomb our own factories"

50% tariffs on steel, aluminum, copper while the Euros goods only have 15% (idk how you do this on unfinished goods). Rolled

[Winehole23]

Chinese metal stock is 50% tariffed, but EU finished goods are 15%

I mean, did these guys really reanimate mercantilism without reading the basics?

[Blake]

this is what Nutlick said this morning

Uh huh sure

[Winehole23]

Elon and Trump fired BLS data collectors, so they guess up to 30% of the time now -- 200% more than they did just a few months ago

One of the things wrecking public capacity does is to degrade the quality of the information business relies upon for investment and planning

To calculate CPI inflation, BLS teams collect approximately 90,000 price quotes every month covering 200 different item categories, and there are several hundred field collectors active across 75 urban areas.


When data is not available, BLS staff typically develop estimates for approximately 10% of the cells in the CPI calculation. However, the share of data in the CPI that is estimated has increased significantly in recent months and is now above 30%, see chart below.


In other words, almost a third of the prices going into the CPI at the moment are guesses based on other data collections in the CPI.

Note: Different cell imputation is where uncollected prices are imputed from collected prices of the same item in other geographic areas or from collected prices of related item categories in the same geographic area. Sources: BLS, Apollo Chief Economist

https://www.apolloacademy.com/the-qu...o-deteriorate/

[Winehole23]

[Winehole23]

wine-related

That’s notable given that Trump’s appeal of lower court rulings that his tariffs are unlawful, in part, because they’re so arbitrary and capricious will be Thursday at 10AM. And the lead plaintiff in that case is a wine importer, still looking for clarity on how much they’ll pay to import wines from, among other places, Austria, Italy, Greece, Spain, France, Germany, Croatia, and Hungary, over a 100 days after suing.

Plaintiff V.O.S. Selections, Inc. is a 39-year-old New York-based business, founded by Victor Owen Schwartz, that specializes in the importation and distribution of small-production wines, spirits, and sakes from six continents. V.O.S. Selections has made and makes significant direct purchases of wines, spirits, and sakes from Austria, Italy, Greece, Lebanon, Morocco, Spain, France, Portugal, Mexico, Argentina, Germany, Croatia, Hungary, and South Africa. The products it imports are not reasonably available from a producer in the United States.

If the Circuit Court of Appeals upholds (or preferably, improves) the lower court ruling, then this whole process will be thrown back into chaos until SCOTUS tells us whether their expansive view of the presidency extends to roiling international trade agreements every time he gets grumpy about a sex trafficking scandal.

https://www.emptywheel.net/2025/07/2...ying-for-time/

[Winehole23]

so much for dealmaking, that's what US importers and consumers going to pay for imports from the whole world

Trump: "We're gonna be setting a tariff essentially for the rest of the world, and that's what they're gonna pay if they want to do business in the United States, because you can't sit down and make 200 deals."

[Winehole23]

the whole point was to lay historically high import taxes on the US

[Blake]

Trickle down economics for 2025

[Winehole23]

US raw material inputs (steel, copper, aluminum), 50% tariff

EU finished goods, 15% tariff

[velik_m]

US raw material inputs (steel, copper, aluminum), 50% tariff

EU finished goods, 15% tariff

Only a MAGA would think an extra tax will not reflect in the final price. Maybe they are banking on lowering the labour costs to balance the extra taxes.

[ChumpDumper]

Only a MAGA would think an extra tax will not reflect in the final price. Maybe they are banking on lowering the labour costs to balance the extra taxes.

TSA says patriotic shareholders will take the hit gladly.

[Winehole23]

much like the Japan deal, the counterparty released a different readout of the meeting than we did

White House: the 15% rate will apply to EU-made pharmaceuticals as of 1 August.

Commission: the 15% rate will apply only after the US concludes its investigation. "There will be no tariffs on pharmaceuticals this Friday," senior official said today.

White House: the EU *will* invest $600 billion in the US economy and spend $750 billion in US energy by 2028.

Commission: the pledges are an "intention" based on industry estimates not a legally binding guarantee. The EU can't dictate how the private sector spends its money.

White House: the EU *agreed* to purchase significant amounts of US military equipment.

Commission: there's no deal whatsoever on defence. That's just Trump's impression.

White House: the sectoral tariffs on steel, aluminum, and copper will remain unchanged. The EU will continue to pay 50% and the parties will discuss securing supply chains for these products.

Commission: the 50% will apply only after a quota (yet to be determined) is exceeded.

White House: the US and the EU intend to address unjustified digital trade barriers.

Commission: no mention of this whatsoever. "There is absolutely no commitment on digital regulation or digital taxes," a senior official said this morning.

h​ttps://bsky.app/profile/jorgeliboreiro.bsky.social/post/3lv2kcg7cps2

[SnakeBoy]

US raw material inputs (steel, copper, aluminum), 50% tariff

EU finished goods, 15% tariff

lol Gasparino
lol BlueSky