Pemex Bonds Surge as Mexico Mandates Debt Deal to Support It
The offering, announced in a filing Tuesday, will consist of a dollar-denominated debt maturing August 2030, in the form of amortizing pre-capitalized securities, or P-Caps, a type instrument used in asset-backed finance.
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Bloomberg
an hour ago
- Bloomberg
New Zealand to Ban Surcharges on In-Store Electronic Payments
New Zealand will ban surcharges applied to in-store electronic payments from next year, Commerce Minister Scott Simpson said. The government will introduce the Retail Payment System (Ban on Surcharges) Amendment Bill by the end of this year and the ban will be in place by May 2026 at the latest, Simpson said in a statement Monday in Wellington.
Yahoo
an hour ago
- Yahoo
State of play in Trump's tariffs, threats and delays
Dozens of economies including India, Canada and Mexico face threats of higher tariffs Friday if they fail to strike deals with Washington. Here is a summary of duties President Donald Trump has introduced in his second term as he pressures allies and competitors alike to reshape US trade relationships. - Global tariffs - US "reciprocal" tariffs -- imposed under legally contentious emergency powers -- are due to jump from 10 percent to various steeper levels for a list of dozens of economies come August 1, including South Korea, India and Taiwan. The hikes were to take effect July 9 but Trump postponed them days before imposition, marking a second delay since their shock unveiling in April. A 10 percent "baseline" levy on most partners, which Trump imposed in April, remains in place. He has also issued letters dictating tariff rates above 10 percent for individual countries, including Brazil, which has a trade deficit with the United States and was not on the initial list of higher "reciprocal" rates. Several economies -- the European Union, Britain, Vietnam, Japan, Indonesia and the Philippines -- have struck initial tariff deals with Washington, while China managed to temporarily lower tit-for-tat duties. Certain products like pharmaceuticals, semiconductors and lumber are excluded from Trump's "reciprocal" tariffs, but may face separate action under different authorities. This has been the case for steel, aluminum, and soon copper. Gold and silver, alongside energy commodities, are also exempted. Excluded too are Mexico and Canada, hit with a different set of tariffs, and countries like Russia and North Korea as they already face sanctions. - Canada, Mexico - Canadian and Mexican products were hit by 25 percent US tariffs shortly after Trump returned to office, with a lower rate for Canadian energy. Trump targeted both neighbors over illegal immigration and fentanyl trafficking, also invoking emergency powers. But trade negotiations have been bumpy. This month, Trump said Canadian goods will face a higher 35 percent duty from August 1, and Mexican goods will see a 30 percent level. Products entering the United States under the USMCA North American free trade pact, covering large swaths of goods, are expected to remain exempt -- with Canadian energy resources and potash, used as fertilizer, to still face lower rates. - China focus - Trump has also taken special aim at China. The world's two biggest economies engaged in an escalating tariffs war this year before their temporary pullback. The countries imposed triple-digit duties on each other at one point, a level described as a trade embargo. After high level talks, Washington lowered its levies on Chinese goods to 30 percent and Beijing slashed its own to 10 percent. This pause is set to expire August 12, and officials will meet for further talks on Monday and Tuesday in the Swedish capital Stockholm. The US level is higher as it includes a 20 percent tariff over China's alleged role in the global fentanyl trade. Beyond expansive tariffs on Chinese products, Trump ordered the closure of a duty-free exemption for low-value parcels from the country. This adds to the cost of importing items like clothing and small electronics. - Autos, metals - Trump has targeted individual business sectors too, under more conventional national security grounds, imposing a 25 percent levy on steel and aluminum imports which he later doubled to 50 percent. The president has unveiled plans for a 50 percent tariff on copper imports starting August 1 as well and rolled out a 25 percent tariff on imported autos, although those entering under the USMCA can qualify for a lower rate. Trump's auto tariffs impact vehicle parts too, but new rules ensure automakers paying vehicle tariffs will not also be charged for certain other duties. He has ongoing investigations into imports of lumber, semiconductors, pharmaceuticals and critical minerals that could trigger further duties. - Legal challenges - Several legal challenges have been filed against the tariffs Trump invoked citing emergencies. The US Court of International Trade ruled in May that the president had overstepped his authority, but a federal appeals court has allowed the duties to remain while it considers the case. If these tariffs are ultimately ruled illegal, companies could possibly seek reimbursements. bys/des/mlm Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Trump is losing support from men as approval rating drops below 50%
Men are cooling on Donald Trump after making up a significant chunk of the president's 2024 voting bloc. According to a new poll by CBS/YouGov, Trump's approval rating is tanking with men during his second term. It found that 47 percent of men approve of Trump's job, and 53 percent do not. Last October — just before Trump's second electoral victory — a similar CBS/YouGov poll found that 54 percent of men supported Trump and 64 percent said they thought he would be a strong leader. The drop overall reflects a broader disapproval with Trump's second term; DecisionDeskHQ's polling averages showed that the president's overall approval rating was down by about 12 points since January, a drop from 56 percent then to 44 percent this week. According to the new CBS/YouGov poll, 47 percent of men said Trump was focusing "too much" on deportations, while 33 percent said he was showing the "right amount" of focus. In another metric, 65 percent of men said Trump has not done enough to lower prices, and only 29 percent said they felt he had. On February 7, Trump had a 60 percent approval rating with men, but his numbers began to slip in the months that followed, according to the poll. By the end of the month, his favorability had dropped to 56 percent, and by April 11 — just a week after he unveiled his tariff plan — men's approval of the president fell to 49 percent. Trump won big with men in 2024. According to Pew Research, men favored Trump by 12 points in 2024. Men under 50 split their votes almost evenly between former Vice President Kamala Harris and Trump. In 2020, men under 50 backed former President Joe Biden over Trump by 10 points. According to the CBS/YouGov polling data, the big issues driving down Trump's approval with men are his performance on the economy, his seeming inability to curb inflation, and his intense focus on immigration issues. By mid-April, Trump's approval rating among men on the economy dropped to minus 10 points, his approval regarding inflation fell to minus 20, and his immigration approval — one of his strongest areas among men — dropped to just plus six points, The poll found that 49 percent of men believe that the economy is getting worse, and 65 percent said that Trump wasn't doing enough to lower prices for goods and services. Another 60 percent said they believe Trump is focusing too much on tariffs, and 57 percent believe his policies are directly increasing the cost of their groceries. They aren't wrong about their grocery bills; Consumer Price Index data shows that annual inflation rose by 2.7 percent in June, up from 2.4 percent in May. They're also not wrong about Trump's tariffs, according to Yale's Budget Lab. Americans are currently facing an average tariff rate of 18.7 percent, which is the highest it has been since 1933. The three key issues driving down Trump's approval rating were the major issues that attracted men to Trump in the first place, according to the poll. That could spell trouble for Republicans come the midterm elections if they do not adjust their focus and messaging before the election. Trump's dipping approval comes at a difficult time for him, as even some stalwart supporters among his voter base and within his party are questioning him over his handling of the alleged "Epstein client list." The president promised to be transparent about what the government knew of disgraced New York financier and child sex trafficker Jeffrey Epstein — a man who had a long and well-documented friendship with Trump. After U.S. Attorney General Pam Bondi told the public she had the so-called client list on her desk, the administration backtracked and insisted no such file existed, and confirming previous rulings that Epstein died by suicide in his New York jail cell while awaiting trial. Trump has reacted with dismissal and annoyance toward Republicans — and his own voters — who have asked him questions about his administration's position on the Epstein documents. Since then, Trump has faced questions and criticism from his voting base and within the conservative cultural sphere that helped sell his vision for America to the public — especially men.
