Nissan considers Foxconn EV output to save Oppama from closure, Nikkei says
is in discussions with Taiwan's Foxconn about a collaboration in
electric vehicles
that could save its
Oppama plant
in
Japan
from closure, the
Nikkei
business daily reported on Sunday, citing an unidentified Nissan source.
Nissan's
Oppama
plant, which employs about 3,900 workers, has been a potential consolidation target in the struggling Japanese carmaker's restructuring plans, but the floated idea of producing Foxconn-brand
EVs
at its idle assembly lines could preserve the
jobs
and supplier networks, Nikkei said.
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by Taboola
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Hindustan Times
2 hours ago
- Hindustan Times
Who's feeling the pain of Trump's tariffs?
Editor's note (August 1st 2025): This article has been updated. Container ships are seen at the container terminal at Lianyungang port, in China's eastern Jiangsu province in the early morning on July 24, In the bygone age that was 2024, America charged levies averaging just 2% on its imports of goods. In the new era of trade wars, it now has an 'effective' tariff of over 16%, the highest since the 1930s (see chart 1). Rates look set to go even higher. On July 31st President Donald Trump signed an executive order that significantly raises tariffs on most of America's trading partners, with the increases due to go into effect on August 7th. Duties on most products from the European Union and South Korea, which recently struck deals with America, will rise to 15%. India faces a tariff of 25%; South Africa, 30%; Canada, 35%. As we published this, Mr Trump seemed inclined to extend America's tariff truce with China. But that still leaves the world's second-largest economy facing levies of around 40% on sales to the world's largest. Chart 1 Who pays for these tariffs, in all their infinite variety? Most economists reckon that ordinary Americans will lose out, as prices in shops rise. Mr Trump and his coterie, by contrast, blithely insist that the rest of the world will shoulder the load by cutting their selling prices. So far, the evidence is giving the know-nothings a glimmer of hope. Mr Trump's critics in the economics profession have history and research on their side. Studies show that when a country imposes duties on its imports, its foreign suppliers often keep their prices roughly the same. The tariff is layered on top. So it was during the first Trump administration, which slapped tariffs on China and others. A study from 2019 found 'complete pass-through of the tariffs into domestic prices of imported goods'. Some foreign firms are taking a similar stance in response to Mr Trump's new levies. In April Ferrari added up to 10% to the price of its cars. Britain's Ineos said it would charge more for its Grenadier off-roader. Canon, a camera-maker, has warned dealers to brace for price increases. But the broader pattern is more benign. There is, for example, surprisingly little evidence so far of tariff 'pass-through' into inflation. In June America's 'core' consumer prices (ie, excluding food and energy) rose by 0.2% on the previous month, below the consensus estimate of 0.3%. Economists have found some evidence of tariff-induced price rises—in car parts, for instance—but they have had to look harder for it than they had expected. What explains these surprising results? American firms, not consumers, may be paying for the trade war by accepting lower profits, suggests research by Deutsche Bank. Some firms also boosted inventories before the tariffs were implemented, allowing them to avoid raising their prices for now. America's foreign suppliers may also be sharing more of the load than they did in Mr Trump's first term. Nintendo, a Japanese electronics firm, is keeping the American price of the Switch 2 games console at $449.99. Many Chinese manufacturers seem prepared to follow Nintendo and absorb duties: Fuling, a supplier of cutlery, says its clients expect it to shoulder 'part of the increased tariff costs'. TIRTIR, a South Korean beauty brand popular with American Gen Zers, has signalled that it can absorb most of the tariffs. Games Workshop, a British manufacturer of war games, also seems resigned to taking the hit, warning investors that tariffs could reduce annual profits by £12m ($16m). 'We found tentative evidence that Korean auto exporters are shouldering the cost of higher US tariffs, at least for now,' wrote Kim Jin-Wook of Citigroup, a bank, in a recent note. The Bank of Japan tracks the prices of the country's car exports to America. In yen terms, they have fallen by 26% in the past year. Some of that decline may reflect exchange-rate movements. An unchanged dollar price brings in fewer yen when the American currency is weak. But that only raises another question: why are Japan's carmakers not raising their dollar prices more vigorously in response? More comprehensive data point in a similar direction. The Economist assembled a series on export prices from a number of America's largest trading partners, including Canada, Germany and South Korea. In the past exporters in these countries have been perfectly willing to raise prices: during the inflationary surge of 2021-22, they increased them by more than 15% over a 12-month span (see chart 2). Yet in the past year the average local-currency price of their exports has fallen by 3.6%. Nothing of the sort happened during Mr Trump's first trade war. Who-s-feeling-the-pain-of-Trump-s-tariffs- Some economists have noted a disconnect between what foreigners report and what American importers say they are paying. For instance, it is hard to find much evidence of plunging prices for Japanese car imports. Economists at Citi speculate that the time it takes to ship a foreign product to an American port may explain the puzzle. It 'implies a lag between falling export prices and when US import-price data would capture the decline', they say. Why might foreign suppliers be so forgiving? Some bosses worry more than before about the American consumer. With high inflation a recent memory, people already think that everything is too expensive. They have little tolerance for paying even higher prices. The opposite may be true of the foreign companies themselves. They are in a good financial position to withstand the tariffs. Aggregate margins of listed companies in emerging markets have become fatter over the past decade, increasing by over two percentage points. European firms have enjoyed similar gains. These companies can afford to take a small hit to profits, at least for now. Before long America's economy is likely to feel the pain of the trade war more acutely. Although some Chinese firms may have lowered their prices, these cuts are not nearly deep enough to offset the huge rise in tariffs they now face, points out Deutsche Bank's research. In addition, foreign companies that have borne the costs until now may not be able to bear them for ever—especially if tariff rates keep ratcheting up. The president loves defying his adversaries, in the economics profession and beyond. But he is always his own worst enemy. For more expert analysis of the biggest stories in economics,finance and markets, sign up to Money Talks, our weekly subscriber-only newsletter.
Time of India
3 hours ago
- Time of India
New Baba Vanga Predictions: Here's what prophecies came true after Kamchatka Earthquake and Tsunami Alert
New Baba Vanga Predictions , which have come true, have been listed here after the Kamchatka Earthquake and Tsunami Alert. A major earthquake in the Pacific Ocean near Russia's Kamchatka Peninsula has brought back attention to predictions made by Japanese artist Ryo Tatsuki. Often compared to Bulgarian prophet Baba Vanga, Tatsuki's 1999 manga has stirred online debate for its reference to a major tsunami. Her work has led many to revisit earlier predictions that also appeared to come true. New Baba Vanga Ryo Tatsuki's Tsunami Prediction in Focus A powerful 8.8 magnitude earthquake struck near Kamchatka Peninsula on Wednesday. This event caused tsunami waves to move toward Japan's Hokkaido Islands and prompted alerts across the Pacific. Warnings extended to the US West Coast and several North Pacific regions. Explore courses from Top Institutes in Please select course: Select a Course Category Product Management Management Data Science Operations Management Others Leadership Data Analytics Public Policy Healthcare CXO Data Science Finance Design Thinking Artificial Intelligence MCA Project Management Digital Marketing others Technology healthcare PGDM Cybersecurity Degree MBA Skills you'll gain: Product Strategy & Roadmapping User-Centric Product Design Agile Product Development Market Analysis & Product Launch Duration: 24 Weeks Indian School of Business Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details Skills you'll gain: Creating Effective Product Roadmap User Research & Translating it to Product Design Key Metrics via Product Analytics Hand-On Projects Using Cutting Edge Tools Duration: 12 Weeks Indian School of Business ISB Product Management Starts on May 14, 2024 Get Details Skills you'll gain: Product Strategy & Competitive Advantage Tactics Product Development Processes & Market Orientations Product Analytics & Data-Driven Decision Making Agile Development, Design Thinking, & Product Leadership Duration: 40 Weeks IIM Kozhikode Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details Online users quickly linked the event to a prediction made by Ryo Tatsuki. In her 1999 manga The Future I Saw, Tatsuki described a massive tsunami caused by a crack under the sea between Japan and the Philippines. The story claimed that the resulting wave would be three times stronger than the one that hit Japan in 2011. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like What Happens When You Massage Baking Soda Into Your Scalp Read More Undo Though the manga indicated July 5 as the date of the disaster, the earthquake occurred later. Still, many have connected the event to her vision and labeled it a near-accurate forecast. Who Is the 'New Baba Vanga'? Ryo Tatsuki, a Japanese manga artist, gained attention for publishing dreams she believed to be visions of the future. Her most famous work, The Future I Saw, contains sketches and short descriptions of natural disasters and major world events. Live Events She is now being called the 'New Baba Vanga,' referring to the late Bulgarian mystic known for her predictions. Like Vanga, Tatsuki never claimed to control her visions but said they came to her during sleep. Also Read: Gary Busey Guilty: Did he actually try to undo bra of a woman at Monster-Mania Convention 2022? See what happened Five Predictions Said to Have Come True Social media discussions around Ryo Tatsuki's prediction have led many to compare her to Baba Vanga. Here are five of Baba Vanga's most talked-about predictions: 9/11 Attacks In 1989, Baba Vanga spoke of the US being attacked by 'steel birds.' Many people associate this with the hijacked airplanes that struck the World Trade Center in 2001. The mention of 'bush' in her vision is believed to refer to President George W. Bush. Kursk Submarine Tragedy In 1980, she said Kursk would be 'covered in water.' In 2000, the Russian submarine Kursk sank in the Barents Sea, killing 118 crew members. Indira Gandhi's Death Baba Vanga once mentioned a woman in 'orange-yellow' surrounded by 'smoke and fire.' This has been interpreted as a reference to Indian Prime Minister Indira Gandhi's assassination in 1984. Natural Disasters in 2022 She predicted extreme floods and droughts. In 2022, Europe saw severe droughts, while Asia and Africa faced floods and storms with heavy rainfall. 44th US President Baba Vanga predicted the 44th US President would be Black. This came true when Barack Obama took office in 2009. Also Read: Parents abandon 10-year-old son at airport. The reason will shock you Growing Interest in Tatsuki's Manga With renewed interest in Tatsuki's manga, many are revisiting her older works. The resurfacing of her 1999 tsunami prediction has sparked debate on whether her visions are coincidences or something more. Fans continue to track her predictions and compare them with current events. The manga is not widely distributed outside Japan, but scanned copies and summaries circulate online. FAQs Who is Ryo Tatsuki and why is she called the New Baba Vanga? Ryo Tatsuki is a Japanese artist who published predictions in her manga. She is compared to Baba Vanga for her visions, which some believe predicted future disasters. Did Ryo Tatsuki predict the Kamchatka earthquake and tsunami? Tatsuki's 1999 manga mentions a massive tsunami caused by a crack under the sea near Japan. Many link this to the recent Kamchatka quake, though the date was slightly different.
India Today
4 hours ago
- India Today
US, Russian space chiefs meet to discuss continued cooperation
Russia's space chief has visited the United States to discuss plans for continued cooperation between Moscow and Washington on the International Space Station and lunar research with NASA's acting chief, the first such face-to-face meeting in more than seven Bakanov, the director of the state space corporation Roscosmos, met Thursday with NASA's new acting administrator, Transportation Secretary Sean Duffy, on a visit to attend the planned launch of a US-Japanese-Russian crew to the space station. The launch was delayed by weather until Friday, when it blasted off said Bakanov and Duffy discussed "further work on the International Space Station, cooperation on lunar programs, joint exploration of deep space and continued cooperation on other space projects.' Once bitter rivals in the space race during the Cold War, Roscosmos and NASA cooperated on the space station and other projects. That relationship was beset with tensions after Moscow sent troops into Ukraine in 2022, but Washington and Moscow have continued to work together, with US and Russian crews continuing to fly to the orbiting outpost on each country's for broader cooperation, including possible Russian involvement in NASA's Artemis program of lunar research, have fallen Russia has become increasingly reliant on China for its energy exports and imports of key technology amid Western sanctions, Roscosmos has started cooperation with China on its prospective lunar to Russian reporters after the talks with Duffy, Bakanov said that they agreed to keep working on keeping the space station in operation to the end of the decade.'Our experts will now start working on those issues in details,' Bakanov said, praising Duffy for giving a green light for those contacts 'despite geopolitical tensions.'The Russian space chief added that he and Duffy will report the results of the meeting to Russian President Vladimir Putin and President Donald Trump to secure their blessing for potential space cooperation.'In view of the difficult geopolitical situation, we will need to receive the necessary clearance from the leaders of our countries,' Bakanov added he invited Duffy to visit Moscow and the Russia-leased Baikonur launch facility in Kazakhstan for the launch of another Russia-US crew to the space station scheduled for November.'I will put my efforts into keeping the channel of cooperation between Russia and the US open, and I expect NASA to do the same,' Bakanov said.- EndsMust Watch
