23% That is how much European defense stocks are up on average this year, led by munitions suppliers such as Rheinmetall and Saab. The trend is about U.S. isolationism as well as Russian aggression—and it could last.
Rheinmetall posted sales and earnings below expectations for the first quarter, but confirmed its annual guidance as governments continued to place orders for ammunition, air-defense systems and other military equipment.
Read about Boeing, Fraport and more in the latest Market Talks covering the Auto and Transport sector.
The next recession has likely been postponed by the trillions of dollars of stimulus spent during the pandemic, one Wall Street vet says.
If you think this new law will measurably increase marijuana sales, you must be smoking something.
Joe Biden told Yahoo Finance he thinks China will retaliate to sweeping new tariffs on Chinese imports, but he expects any trade conflict to be manageable.
Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again. Powell stressed that the Fed's preferred approach was to keep its benchmark rate at its current two-decade peak rather than increase it. “I don’t think that it’s likely, based on the data that we have, that the next move that we make would be a rate hike," Powell said.
The Biden administration's new tariffs on Chinese electric vehicles and other strategic sectors aim to protect the future of U.S. manufacturing, but they will likely accelerate a shift of Chinese production to Mexico, Vietnam and elsewhere to avoid them. U.S. officials and trade experts say that without strong efforts to cut off transshipped or lightly processed Chinese goods from Mexico and other countries, China's underpriced excess production will still find its way into U.S. markets.
FREDERICKSBURG, Virginia (Reuters) -The United States could see a significant response from China following any U.S. tariff actions, U.S. Treasury Secretary Janet Yellen said on Monday ahead of expected new tariffs targeting certain sectors this week. Yellen, speaking to reporters after a broadband event in rural Fredericksburg, Virginia, said she and other U.S. officials had made clear to China they could reconfigure tariffs first imposed under former President Donald Trump to be more strategic, but that any changes would be narrowly targeted. She declined to give any details of expected changes in U.S. tariffs on China, but said the Biden administration would ensure Chinese officials were informed ahead of any U.S. action.
The Biden administration is suggesting the possibility that additional penalties could be put in place if the Chinese makers of electric vehicles try to move their production to Mexico to avoid newly announced import taxes. President Joe Biden on Tuesday directed the office of the U.S. Trade Representative to impose a total tariff in excess of 102% on Chinese EVs, as well as directing new tariffs on other products including steel, aluminum, computer chips and solar cells. Asked at the White House news briefing on Tuesday about new tariffs, U.S. Trade Representative Katherine Tai said, “Stay tuned.”
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