J&J resumes US rollout of Varipulse heart device after investigation
In January, the company had paused the heart device, a pulsed field ablation system, citing an abundance of caution as it investigated four reported stroke events.
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Reuters
11 hours ago
- Reuters
EU's von der Leyen warns of countermeasures if U.S. 30% tariffs go ahead
BRUSSELS, July 12 (Reuters) - The EU is prepared to take the necessary steps to safeguard its interests if the U.S. proceeds with imposing a 30% tariff on European goods starting Aug 1, European Commission President Ursula von der Leyen said on Saturday. Von der Leyen, who heads the EU's executive arm, said in a statement that the bloc remained ready "to continue working towards an agreement by Aug 1". "Few economies in the world match the European Union's level of openness and adherence to fair trading practices," she continued. "We will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required."
NBC News
a day ago
- NBC News
Some Walmart garment orders from Bangladesh on hold due to US tariff threat
LONDON/NEW YORK, July 11 (Reuters) - Suppliers to Walmart WMT.N have delayed or put on hold some orders from garment manufacturers in Bangladesh, according to three factory owners and correspondence from a supplier seen by Reuters, as U.S. President Donald Trump's threat of a 35% tariff on the textile hub disrupts business. Bangladesh is the third-largest exporter of apparel to the United States, and it relies on the garment sector for 80% of its export earnings and 10% of its GDP. The factory owners all said they expected orders to fall if the August 1 tariffs go into effect, as they are unable to absorb that 35% rate. Iqbal Hossain, managing director of garment manufacturer Patriot Eco Apparel Ltd, told Reuters an order for nearly 1 million swim shorts for Walmart was put on hold on Thursday due to the tariff threat. 'As we discussed please hold all below Spring season orders we are discussing here due to heavy Tariff % imposed for USA imports,' Faruk Saikat, assistant merchandising manager at Classic Fashion, wrote in an email to Hossain and others seen by Reuters. Classic Fashion is a supplier and buying agent that places orders for retailers. 'As per our management instruction we are holding Bangladesh production for time being and IN case Tariff issues settled then we will continue as we planned here.' The hold was not decided by Walmart, Saikat told Reuters, but by Classic Fashion itself. Walmart did not respond to a request for comment. Bangladesh is currently in talks with the United States in Washington to try to negotiate a lower tariff. Trump in recent days has revived threats of higher levies on numerous nations. 'If the 35% tariff remains for Bangladesh, that will be very tough to sustain, honestly speaking, and there will not be as many orders as we have now,' said Mohiuddin Rubel, managing director at jeans manufacturer Denim Expert Ltd in Dhaka. Rubel, whose company produces jeans for H&M and other retailers, said he expects clients will ask him to absorb part of the tariff, but added this would not be possible financially. Manufacturers have already absorbed part of the blanket 10% tariff imposed by the U.S. on April 2. 'Only probably the big, big companies can a little bit sustain (tariffs) but not the small and medium companies,' he said. Retailers have front-loaded orders since Trump returned to the White House, anticipating higher tariffs. Jeans maker Levi's LEVI.N, which imports from Bangladesh, said on Thursday it has 60% of the inventory it needs for the rest of 2025. U.S. clothing imports from Bangladesh totaled $3.38 billion in the first five months of 2025, up 21% from the year-earlier period, according to U.S. International Trade Commission data. Another Dhaka-based garment factory owner said an importer with whom he was negotiating a spring 2026 order of trousers for Walmart asked him on Thursday to wait a week before the order would be confirmed due to the tariff risk. Hossain said he may look for more orders from European clients to make up for lost orders if the U.S. 35% tariff gets implemented, even if he has to cut prices to stimulate demand.
Reuters
a day ago
- Reuters
Space firm Firefly Aerospace files for US IPO
July 11 (Reuters) - Space firm Firefly Aerospace on Friday filed for an initial public offering in the United States.
