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Faith leaders hope bill will stop the loss of thousands of clergy from abroad serving US communities

Faith leaders hope bill will stop the loss of thousands of clergy from abroad serving US communities

Associated Press7 hours ago
Faith leaders across the U.S. are hoping a bipartisan bill, recently introduced in the U.S. Senate and House, might finally bring resolution to an immigration issue that has been hindering their service to their communities for more than two years.
In March 2023, the Biden administration made a sudden change in how the government processes green cards in the category that includes both abused minors and religious workers. It created new backlogs that threaten the ability of thousands of pastors, nuns, imams, cantors and others to remain in the United States.
The bill only tackles one small part of the issue, which sponsoring lawmakers hope will increase its chances of passing even as immigration remains one of the most polarizing issues in the country.
Faith leaders say even a narrow fix will be enough to prevent damaging losses to congregations and to start planning for the future again.
'Unless there is a change to current practice, our community is slowly being strangled,' said the Rev. Aaron Wessman, vicar general and director of formation for the Glenmary Home Missioners, a small Catholic order ministering in rural America.
'I will weep with joy if this legislation passes,' he said. 'It means the world for our members who are living in the middle of uncertainty and for the people they'll be able to help.'
Two thirds of Glenmary's priests and brothers under 50 years old are foreign-born — mostly from Kenya, Mexico, Nigeria and Uganda — and they are affected by the current immigration snag, Wessman added.
So are thousands of others who serve the variety of faiths present in the United States, from Islam to Hinduism to evangelical Christianity, providing both pastoral care and social services.
No exact numbers exist, but it is estimated that there are thousands of religious workers who are now backlogged in the green card system and/or haven't been able to apply yet.
How clergy get green cards — and why border crossings created backlogs
Congregations bring to the United States religious workers under temporary visas called R-1, which allow them to work for up to five years. That used to be enough time for the congregations to petition for green cards under a special category called EB-4, which would allow the clergy to become permanent residents.
Congress sets a quota of green cards available per year divided in categories, almost all based on types of employment or family relationships to U.S. citizens. In most categories, the demand exceeds the annual quota.
Citizens of countries with especially high demand get put in separate, often longer 'lines' — for several years, the most backlogged category has been that of married Mexican children of U.S. citizens, where only applications filed more than 24 years ago are being processed.
Also in a separate line were migrant children with 'Special Immigrant Juvenile Status' — neglected or abused minors — from Guatemala, Honduras and El Salvador. Hundreds of thousands sought humanitarian green cards or asylum after illegally crossing into the U.S. since the mid-2010s, though the Trump administration recently cracked down on the program.
In March 2023, the State Department suddenly started adding the minors to the general green card queue with the clergy. That has created such a bottleneck that in April, only halfway through the current fiscal year, those green cards became unavailable.
And when they will become available in the new fiscal year starting in October, they are likely to be stuck in the six-year backlog they faced earlier this year — meaning religious workers with a pending application won't get their green cards before their five-year visas expire and they must leave the country.
In a report released Thursday, U.S. Citizenship and Immigration Services blamed the EB-4 backlogs on the surge in applications by minors from Central America, and said the agency found widespread fraud in that program.
A 'narrow fix' bill to allow foreign-born clergy to remain in the US
The Senate and House bills would allow the Department of Homeland Security to extend religious workers' visas as long as their green card application is pending. They would also prevent small job changes — such as moving up from associate to senior pastor, or being assigned to another parish in the same diocese — from invalidating the pending application.
'Even as immigration issues are controversial and sometimes they run afoul of partisan politics, we think this fix is narrow enough, and the stakeholder group we have is significant enough, that we're hoping we can get this done,' said Democratic Sen. Tim Kaine of Virginia, who introduced the Senate bill in April after hearing about the issue in his Richmond parish.
Two of the last three priests there were foreign-born, he said, and earlier this month he was approached by a sister with the Comboni missionaries worried about her expiring visa. Kaine's two Republican cosponsors, Sens. Susan Collins of Maine and Jim Risch of Idaho, heard from voters worried about losing many faith leaders.
'It adds to their quality of life. And there's no reason they shouldn't have the ability to have this,' Risch said. 'Religious beliefs spread way beyond borders, and it is helpful to have these people who … want to come here and want to associate with Americans of the same faith. And so anything we can do to make that easier, is what we want to do.'
Republican Rep. Mike Carey of Ohio, with Republican and Democratic colleagues, introduced an identical bill in the House. Both bills are still in the respective judiciary committees.
'To be frank, I don't know what objections people could have,' said Lance Conklin, adding that the bill doesn't require more green cards, just a time extension on existing visas. Conklin co-chairs the religious workers group of the American Immigration Lawyers Association and often represents evangelical pastors.
The need for foreign-born religious workers is acute, faith leaders say
Faith denominations from Buddhism to Judaism recruit foreign-born clergy who can minister to growing non-English-speaking congregations and often were educated at foreign institutions steeped in a religion's history. For many, it is also a necessity because of clergy shortages.
The number of Catholic priests in the U.S. has declined by more than 40% since 1970, according to the Center for Applied Research in the Apostolate, a research center affiliated with Georgetown University. Some dioceses, however, are experiencing an uptick in vocations, and some expect more will be inspired by the recent election of Leo XIV, the first U.S.-born pope.
Last summer, the Diocese of Paterson — serving 400,000 Catholics and 107 parishes in three New Jersey counties — and five of its affected priests sued the Department of State, Department of Homeland Security and the U.S. Citizenship and Immigration Services.
The lawsuit argues that the 2023 change 'will cause severe and substantial disruption to the lives and religious freedoms' of the priests and the faithful they serve. The government's initial response was that the Department of State was correct in making that change, according to court documents.
Expecting some action on the legislative front, the parties agreed to stay the lawsuit, said Raymond Lahoud, the diocese's attorney.
But because the bills weren't included in the nearly-900-page sprawling legislation that Congress passed and President Donald Trump signed into law earlier this month, the lawsuit is moving forward, Lahoud said.
'We just can't wait anymore,' he said.
___
Associated Press religion coverage receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.
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Trump tariffs live updates: US-EU agreement announced. China truce extension expected.
Trump tariffs live updates: US-EU agreement announced. China truce extension expected.

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Trump tariffs live updates: US-EU agreement announced. China truce extension expected.

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"A rise in product costs driven by the 50% tariff on steel and reciprocal tariffs that are set to be applied in the latter half of the year could translate into greater uncertainties for the market price," the executive said. "Additionally, shifts in the US government's trade policies and weakening consumer sentiment cast doubt on the demand outlook for home appliances." This isn't the first time LG has grappled with US protectionist policies. In 2018, during Trump's first term, washing machine prices rose when Trump targeted the industry with tariffs. Japan says $550 billion investment could finance Taiwanese chipmaker in US The $550 billion President Trump said Japan gave to the US "to lower their tariffs a little bit," could be used to help finance a Taiwanese chipmaker building plants in the US, the Associated Press reported Saturday. Trump on Thursday called the $550 billion "seed money" and that 90% of profits from the money invested would go to the US. "It's not a loan or anything, it's a signing bonus," Trump said. Read more here. More cracks form in the US-Japan trade agreement We detailed earlier (keep scrolling) some initial, if gentle, pushback from the Japanese side on the US portrayal of the countries' trade deal. The Financial Times has a good, detailed look at some of the "cracks" forming: Read more here (subscription required). EU head to meet with Trump this weekend in bid to clinch deal Bloomberg reports that European Commission President Ursula von der Leyen will meet with President Trump this weekend as he travels to his golf club in Scotland in a bid to secure a trade deal. The meeting will come as the two sides race to secure a deal ahead of next Friday — Trump's self-imposed deadline for 30% tariffs on EU goods to kick in. On Friday, Trump put the odds of a deal at "50-50." From the report: Trump: 'We haven't really had a lot of luck with Canada' President Trump on Friday expressed pessimism on US trade negotiations with Canada, suggesting he may simply impose threatened 35% tariffs on Canadian goods not covered by the existing US-Canada-Mexico trade agreement. "We haven't really had a lot of luck with Canada. I think Canada could be one where there's just a tariff, not really a negotiation," he said. More from Reuters: Boston Beer Company says strong profits helped brewer absorb tariff costs The Boston Beer Company (SAM) continues to feel the effects of President Trump's tariffs, but a strong quarter of sales and profit is helping the Samuel Adams brewer absorb some of those cost increases. Boston Beer expects tariffs to add about $15 million to $20 million in costs for the full year. Previously, it modeled tariff costs of $20 million to $30 million. Expect the company to raise prices by 1% to 2% to offset some of the costs as well, executives said. Boston Beer did see tariffs negatively affect its gross margin toward the end of the second quarter, but it benefited from improved brewery efficiencies. For the second quarter, the company reported profits of $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." Some headlines from Trump on tariffs this morning Via Bloomberg: Trump: US will sell 'so much' beef to Australia President Trump said on Thursday that the US will sell "so much" beef to Australia, following Canberra relaxing import restrictions. Trump added that other countries who had refused US beef products were on notice. Reuters reports: Read more here. World's No. 3 automaker Kia takes $570M tariff hit in Q2 Reuters reports: Read more here. Puma shares dive after warning of full-year loss, US tariff impact Puma ( shares fell 17% on Friday after the sportswear brand said that it now expects an annual loss due to a decline in sales and US tariffs denting profit. Reuters reports: Read more here. LG Energy Solution warns of slowing EV battery demand due to U.S. tariffs, policy headwinds Reuters reports: South Korean battery firm LG Energy ( Solution warned on Friday of a further slowdown in demand by early next year due to U.S. tariffs and policy uncertainties after it posted a quarterly profit jump. Its major customers Tesla (TSLA) and General Motors (GM) warned of fallout from U.S. tariffs and legislation that will end federal subsidies for EV purchases on September 30. 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This would mean that returns would be split 10% for Japan and 90% for the US, according to the White House official, and that it would be "based on the respective levels of contribution and risk borne by each side." Bloomberg News reports: Read more here. US business activity rises; tariffs fuel inflation concerns US business activity rose in July, but companies increased the prices for goods and services, supporting the view from economists that inflation will accelerate in the second half of 2025 and it will mainly be due to tariffs on imports. Reuters reports: Read more here. It sounds like Trump now has a new minimum tariff rate: 15% President Trump set a new rhetorical floor for tariffs on Wednesday night in comments in a shift that raises the president's baseline rate from 10%. Yahoo Finance's Ben Werschkul writes: Read more here. Keurig Dr. Pepper brewer sales volume drops 22%, CEO says tariff impacts 'will become prominent' Keurig Dr. Pepper CEO Tim Cofer said that tariffs are putting additional pressure on the company in an earnings call Thursday, especially when it comes to its coffee business, which KDP expects to be "subdued" for the remainder of the year. "Commodity inflation will build as we roll into the back half and we roll into our higher cost hedges on green coffee," Cofer said. "The tariff impacts will become prominent. And we all know that tariff situation is a bit fluid." Keurig is one of the biggest coffee importers in the US, along with Starbucks (SBUX) and Nestle (NSRGY). The US sources most of its coffee from Brazil, which is set to face 50% tariffs on its products on Aug. 1, and Colombia, which faces a tariff rate of 10%. In Keurig's coffee business, appliance volume decreased 22.6% during the quarter, reflecting impacts of retailer inventory management, and K-Cup pod volume decreased 3.7%, reflecting category elasticity in response to price increases, the company reported. "Our retail partners will likely continue to manage their inventory levels tightly, in particular on brewers," Cofer commented. "And then finally, you know we did a round of pricing at the beginning of the year. We've announced another round of pricing that will take effect next month, and we'll need to closely monitor how that elasticity evolves." Read more about Keurig earnings here. The EU's Trump insurance As my colleague detailed below, EU member states voted to impose tariffs on over $100 billion of US goods from Aug. 7. The Financial Times reported that this move that allows the bloc to impose the levies quickly at any point in the future should its trade relationship with the US take a turn for the worse. From the report: Read more here (subscription required). Europe approves $100B-plus tariff backup plan A report in the Wall Street Journal on Thursday said that the European Union has now approved its retaliatory tariff package on US goods that could start in August if no trade agreement is reached. The EU announced on Wednesday that it will hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1. The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat. The approval of the package comes despite the growing optimism that the US and EU will reach a deal that would put baseline tariffs on the bloc at 15%, matching the level the US applied to Japan. The EU is keen to reach a deal with the US but as a cautionary measure has approved 30% tariffs if a deal is not made. EU-US trade agreement preliminary details Here are some Bloomberg terminal headlines with various details on the agreement reached between President Trump and European Commission President Ursula von der Leyen: *TRUMP: WE HAVE REACHED A DEAL WITH EU *TRUMP: EU WILL AGREE TO BUY US $750B WORTH OF ENERGY *TRUMP: EU WILL AGREE TO INVEST $600B MORE THAN PREVIOUSLY IN US *EU'S VON DER LEYEN: TREADE DEAL WITH US WILL BRING STABILITY *VON DER LEYEN: AGREED TO 15% ACROSS THE BOARD TARIFFS The asserted details of the framework are not yet fully confirmed. Here are some Bloomberg terminal headlines with various details on the agreement reached between President Trump and European Commission President Ursula von der Leyen: *TRUMP: WE HAVE REACHED A DEAL WITH EU *TRUMP: EU WILL AGREE TO BUY US $750B WORTH OF ENERGY *TRUMP: EU WILL AGREE TO INVEST $600B MORE THAN PREVIOUSLY IN US *EU'S VON DER LEYEN: TREADE DEAL WITH US WILL BRING STABILITY *VON DER LEYEN: AGREED TO 15% ACROSS THE BOARD TARIFFS The asserted details of the framework are not yet fully confirmed. SCMP reports China-US another 90-day tariff extension The South China Morning Post (SCMP) reported that "Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday." More from the Hong-Kong-based SCMP: Read more here. The South China Morning Post (SCMP) reported that "Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday." More from the Hong-Kong-based SCMP: Read more here. Lutnick: EU has to offer Trump 'a good enough deal' to avoid 30% tariffs As President Trump prepares for a planned meeting about tariffs with European Commission President Ursula von der Leyen, Commerce Secretary Howard Lutnick said Sunday that the European Union has to open its markets for US exports if it wants to convince Trump to reduce the 30% tariff he's threatened to put in place August 1. Reuters reports Lutnick said the EU appeared to want to make a deal: On Friday, Trump said the odds of a trade deal with the EU were about "50-50," even as negotiators from both sides expressed optimism. Read more here. As President Trump prepares for a planned meeting about tariffs with European Commission President Ursula von der Leyen, Commerce Secretary Howard Lutnick said Sunday that the European Union has to open its markets for US exports if it wants to convince Trump to reduce the 30% tariff he's threatened to put in place August 1. Reuters reports Lutnick said the EU appeared to want to make a deal: On Friday, Trump said the odds of a trade deal with the EU were about "50-50," even as negotiators from both sides expressed optimism. Read more here. LG says consumers rushed to buy appliances ahead of tariffs Tariffs remain a key concern for South Korean appliance maker LG Electronics ( The company said that if President Trump's blanket tariffs take effect on Aug. 1, it will adjust prices and move some production to its plants in Mexico and the US. LG produces its products worldwide, particularly in South Korea, China, and Vietnam. On Aug. 1, imports from South Korea face a 25% tariff, while those from Vietnam face a 20% tariff. Imports from China are estimated to face tariffs of roughly 50%, though that could change after US and Chinese officials meet in Sweden for the next round of trade talks. According to LG, consumers rushed to purchase items in the first half of the year to avoid tariffs. Still, the company's net profit fell 3.1% in Q2 as operating costs increased. "Some consumers have been rushing to make purchases before the tariffs take effect," an executive said on the earnings call. "In the first half of 2025, we achieved approximately 3% growth year over year, higher than the market demand with new product launches and efficient sales operations, continuing to strengthen our market presence." But that pull-forward in demand could signal weakness ahead in the months to come if trade tensions escalate again. "A rise in product costs driven by the 50% tariff on steel and reciprocal tariffs that are set to be applied in the latter half of the year could translate into greater uncertainties for the market price," the executive said. "Additionally, shifts in the US government's trade policies and weakening consumer sentiment cast doubt on the demand outlook for home appliances." This isn't the first time LG has grappled with US protectionist policies. In 2018, during Trump's first term, washing machine prices rose when Trump targeted the industry with tariffs. Tariffs remain a key concern for South Korean appliance maker LG Electronics ( The company said that if President Trump's blanket tariffs take effect on Aug. 1, it will adjust prices and move some production to its plants in Mexico and the US. LG produces its products worldwide, particularly in South Korea, China, and Vietnam. On Aug. 1, imports from South Korea face a 25% tariff, while those from Vietnam face a 20% tariff. Imports from China are estimated to face tariffs of roughly 50%, though that could change after US and Chinese officials meet in Sweden for the next round of trade talks. According to LG, consumers rushed to purchase items in the first half of the year to avoid tariffs. Still, the company's net profit fell 3.1% in Q2 as operating costs increased. "Some consumers have been rushing to make purchases before the tariffs take effect," an executive said on the earnings call. "In the first half of 2025, we achieved approximately 3% growth year over year, higher than the market demand with new product launches and efficient sales operations, continuing to strengthen our market presence." But that pull-forward in demand could signal weakness ahead in the months to come if trade tensions escalate again. "A rise in product costs driven by the 50% tariff on steel and reciprocal tariffs that are set to be applied in the latter half of the year could translate into greater uncertainties for the market price," the executive said. "Additionally, shifts in the US government's trade policies and weakening consumer sentiment cast doubt on the demand outlook for home appliances." This isn't the first time LG has grappled with US protectionist policies. In 2018, during Trump's first term, washing machine prices rose when Trump targeted the industry with tariffs. Japan says $550 billion investment could finance Taiwanese chipmaker in US The $550 billion President Trump said Japan gave to the US "to lower their tariffs a little bit," could be used to help finance a Taiwanese chipmaker building plants in the US, the Associated Press reported Saturday. Trump on Thursday called the $550 billion "seed money" and that 90% of profits from the money invested would go to the US. "It's not a loan or anything, it's a signing bonus," Trump said. Read more here. The $550 billion President Trump said Japan gave to the US "to lower their tariffs a little bit," could be used to help finance a Taiwanese chipmaker building plants in the US, the Associated Press reported Saturday. Trump on Thursday called the $550 billion "seed money" and that 90% of profits from the money invested would go to the US. "It's not a loan or anything, it's a signing bonus," Trump said. Read more here. More cracks form in the US-Japan trade agreement We detailed earlier (keep scrolling) some initial, if gentle, pushback from the Japanese side on the US portrayal of the countries' trade deal. The Financial Times has a good, detailed look at some of the "cracks" forming: Read more here (subscription required). We detailed earlier (keep scrolling) some initial, if gentle, pushback from the Japanese side on the US portrayal of the countries' trade deal. The Financial Times has a good, detailed look at some of the "cracks" forming: Read more here (subscription required). EU head to meet with Trump this weekend in bid to clinch deal Bloomberg reports that European Commission President Ursula von der Leyen will meet with President Trump this weekend as he travels to his golf club in Scotland in a bid to secure a trade deal. The meeting will come as the two sides race to secure a deal ahead of next Friday — Trump's self-imposed deadline for 30% tariffs on EU goods to kick in. On Friday, Trump put the odds of a deal at "50-50." From the report: Bloomberg reports that European Commission President Ursula von der Leyen will meet with President Trump this weekend as he travels to his golf club in Scotland in a bid to secure a trade deal. The meeting will come as the two sides race to secure a deal ahead of next Friday — Trump's self-imposed deadline for 30% tariffs on EU goods to kick in. On Friday, Trump put the odds of a deal at "50-50." From the report: Trump: 'We haven't really had a lot of luck with Canada' President Trump on Friday expressed pessimism on US trade negotiations with Canada, suggesting he may simply impose threatened 35% tariffs on Canadian goods not covered by the existing US-Canada-Mexico trade agreement. "We haven't really had a lot of luck with Canada. I think Canada could be one where there's just a tariff, not really a negotiation," he said. More from Reuters: President Trump on Friday expressed pessimism on US trade negotiations with Canada, suggesting he may simply impose threatened 35% tariffs on Canadian goods not covered by the existing US-Canada-Mexico trade agreement. "We haven't really had a lot of luck with Canada. I think Canada could be one where there's just a tariff, not really a negotiation," he said. More from Reuters: Boston Beer Company says strong profits helped brewer absorb tariff costs The Boston Beer Company (SAM) continues to feel the effects of President Trump's tariffs, but a strong quarter of sales and profit is helping the Samuel Adams brewer absorb some of those cost increases. Boston Beer expects tariffs to add about $15 million to $20 million in costs for the full year. Previously, it modeled tariff costs of $20 million to $30 million. Expect the company to raise prices by 1% to 2% to offset some of the costs as well, executives said. Boston Beer did see tariffs negatively affect its gross margin toward the end of the second quarter, but it benefited from improved brewery efficiencies. For the second quarter, the company reported profits of $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." The Boston Beer Company (SAM) continues to feel the effects of President Trump's tariffs, but a strong quarter of sales and profit is helping the Samuel Adams brewer absorb some of those cost increases. Boston Beer expects tariffs to add about $15 million to $20 million in costs for the full year. Previously, it modeled tariff costs of $20 million to $30 million. Expect the company to raise prices by 1% to 2% to offset some of the costs as well, executives said. Boston Beer did see tariffs negatively affect its gross margin toward the end of the second quarter, but it benefited from improved brewery efficiencies. For the second quarter, the company reported profits of $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." Some headlines from Trump on tariffs this morning Via Bloomberg: Via Bloomberg: Trump: US will sell 'so much' beef to Australia President Trump said on Thursday that the US will sell "so much" beef to Australia, following Canberra relaxing import restrictions. Trump added that other countries who had refused US beef products were on notice. Reuters reports: Read more here. President Trump said on Thursday that the US will sell "so much" beef to Australia, following Canberra relaxing import restrictions. Trump added that other countries who had refused US beef products were on notice. Reuters reports: Read more here. World's No. 3 automaker Kia takes $570M tariff hit in Q2 Reuters reports: Read more here. Reuters reports: Read more here. Puma shares dive after warning of full-year loss, US tariff impact Puma ( shares fell 17% on Friday after the sportswear brand said that it now expects an annual loss due to a decline in sales and US tariffs denting profit. Reuters reports: Read more here. Puma ( shares fell 17% on Friday after the sportswear brand said that it now expects an annual loss due to a decline in sales and US tariffs denting profit. Reuters reports: Read more here. LG Energy Solution warns of slowing EV battery demand due to U.S. tariffs, policy headwinds Reuters reports: South Korean battery firm LG Energy ( Solution warned on Friday of a further slowdown in demand by early next year due to U.S. tariffs and policy uncertainties after it posted a quarterly profit jump. Its major customers Tesla (TSLA) and General Motors (GM) warned of fallout from U.S. tariffs and legislation that will end federal subsidies for EV purchases on September 30. "US tariffs and an early end to EV subsidies will put a burden on automakers, potentially leading to vehicle price increases and a slowdown in EV growth in North America," CFO Lee Chang-sil said during a conference call. Read more here. Reuters reports: South Korean battery firm LG Energy ( Solution warned on Friday of a further slowdown in demand by early next year due to U.S. tariffs and policy uncertainties after it posted a quarterly profit jump. Its major customers Tesla (TSLA) and General Motors (GM) warned of fallout from U.S. tariffs and legislation that will end federal subsidies for EV purchases on September 30. "US tariffs and an early end to EV subsidies will put a burden on automakers, potentially leading to vehicle price increases and a slowdown in EV growth in North America," CFO Lee Chang-sil said during a conference call. Read more here. Japan, US differ on how trade-deal profits will be split Japan said Friday that profits from the $550 billion investment deal with the US will be shared based on how much each side contributes. A government official suggested the US will also put in significant funds, but details of the scheme remain unclear. The White House had announced earlier in the week that the US would retain 90% of the profits from the $550 billion US-bound investment and loans that Japan would exchange in return for reduced tariffs on auto and other exports to the US. This would mean that returns would be split 10% for Japan and 90% for the US, according to the White House official, and that it would be "based on the respective levels of contribution and risk borne by each side." Bloomberg News reports: Read more here. Japan said Friday that profits from the $550 billion investment deal with the US will be shared based on how much each side contributes. A government official suggested the US will also put in significant funds, but details of the scheme remain unclear. The White House had announced earlier in the week that the US would retain 90% of the profits from the $550 billion US-bound investment and loans that Japan would exchange in return for reduced tariffs on auto and other exports to the US. This would mean that returns would be split 10% for Japan and 90% for the US, according to the White House official, and that it would be "based on the respective levels of contribution and risk borne by each side." Bloomberg News reports: Read more here. US business activity rises; tariffs fuel inflation concerns US business activity rose in July, but companies increased the prices for goods and services, supporting the view from economists that inflation will accelerate in the second half of 2025 and it will mainly be due to tariffs on imports. Reuters reports: Read more here. US business activity rose in July, but companies increased the prices for goods and services, supporting the view from economists that inflation will accelerate in the second half of 2025 and it will mainly be due to tariffs on imports. Reuters reports: Read more here. It sounds like Trump now has a new minimum tariff rate: 15% President Trump set a new rhetorical floor for tariffs on Wednesday night in comments in a shift that raises the president's baseline rate from 10%. Yahoo Finance's Ben Werschkul writes: Read more here. President Trump set a new rhetorical floor for tariffs on Wednesday night in comments in a shift that raises the president's baseline rate from 10%. Yahoo Finance's Ben Werschkul writes: Read more here. Keurig Dr. Pepper brewer sales volume drops 22%, CEO says tariff impacts 'will become prominent' Keurig Dr. Pepper CEO Tim Cofer said that tariffs are putting additional pressure on the company in an earnings call Thursday, especially when it comes to its coffee business, which KDP expects to be "subdued" for the remainder of the year. "Commodity inflation will build as we roll into the back half and we roll into our higher cost hedges on green coffee," Cofer said. "The tariff impacts will become prominent. And we all know that tariff situation is a bit fluid." Keurig is one of the biggest coffee importers in the US, along with Starbucks (SBUX) and Nestle (NSRGY). The US sources most of its coffee from Brazil, which is set to face 50% tariffs on its products on Aug. 1, and Colombia, which faces a tariff rate of 10%. In Keurig's coffee business, appliance volume decreased 22.6% during the quarter, reflecting impacts of retailer inventory management, and K-Cup pod volume decreased 3.7%, reflecting category elasticity in response to price increases, the company reported. "Our retail partners will likely continue to manage their inventory levels tightly, in particular on brewers," Cofer commented. "And then finally, you know we did a round of pricing at the beginning of the year. We've announced another round of pricing that will take effect next month, and we'll need to closely monitor how that elasticity evolves." Read more about Keurig earnings here. Keurig Dr. Pepper CEO Tim Cofer said that tariffs are putting additional pressure on the company in an earnings call Thursday, especially when it comes to its coffee business, which KDP expects to be "subdued" for the remainder of the year. "Commodity inflation will build as we roll into the back half and we roll into our higher cost hedges on green coffee," Cofer said. "The tariff impacts will become prominent. And we all know that tariff situation is a bit fluid." Keurig is one of the biggest coffee importers in the US, along with Starbucks (SBUX) and Nestle (NSRGY). The US sources most of its coffee from Brazil, which is set to face 50% tariffs on its products on Aug. 1, and Colombia, which faces a tariff rate of 10%. In Keurig's coffee business, appliance volume decreased 22.6% during the quarter, reflecting impacts of retailer inventory management, and K-Cup pod volume decreased 3.7%, reflecting category elasticity in response to price increases, the company reported. "Our retail partners will likely continue to manage their inventory levels tightly, in particular on brewers," Cofer commented. "And then finally, you know we did a round of pricing at the beginning of the year. We've announced another round of pricing that will take effect next month, and we'll need to closely monitor how that elasticity evolves." Read more about Keurig earnings here. The EU's Trump insurance As my colleague detailed below, EU member states voted to impose tariffs on over $100 billion of US goods from Aug. 7. The Financial Times reported that this move that allows the bloc to impose the levies quickly at any point in the future should its trade relationship with the US take a turn for the worse. From the report: Read more here (subscription required). As my colleague detailed below, EU member states voted to impose tariffs on over $100 billion of US goods from Aug. 7. The Financial Times reported that this move that allows the bloc to impose the levies quickly at any point in the future should its trade relationship with the US take a turn for the worse. From the report: Read more here (subscription required). Europe approves $100B-plus tariff backup plan A report in the Wall Street Journal on Thursday said that the European Union has now approved its retaliatory tariff package on US goods that could start in August if no trade agreement is reached. The EU announced on Wednesday that it will hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1. The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat. The approval of the package comes despite the growing optimism that the US and EU will reach a deal that would put baseline tariffs on the bloc at 15%, matching the level the US applied to Japan. The EU is keen to reach a deal with the US but as a cautionary measure has approved 30% tariffs if a deal is not made. A report in the Wall Street Journal on Thursday said that the European Union has now approved its retaliatory tariff package on US goods that could start in August if no trade agreement is reached. The EU announced on Wednesday that it will hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1. The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat. The approval of the package comes despite the growing optimism that the US and EU will reach a deal that would put baseline tariffs on the bloc at 15%, matching the level the US applied to Japan. The EU is keen to reach a deal with the US but as a cautionary measure has approved 30% tariffs if a deal is not made. 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

Protesters stage demo outside hotel used to house migrants
Protesters stage demo outside hotel used to house migrants

Yahoo

time27 minutes ago

  • Yahoo

Protesters stage demo outside hotel used to house migrants

Hundreds of anti-illegal migration protesters and pro-immigration counter-protesters have demonstrated outside a hotel being used to house migrants. Sunday saw the latest in a series of demonstrations outside The Bell Hotel in Epping, Essex, after an asylum seeker was charged with allegedly attempting to kiss a 14-year-old girl. Protesters waved union flags, while Stand Up To Racism counter-protesters marched to the hotel with signs reading: 'Stop scapegoating refugees and migrants'. Weyman Bennett, co-convener of Stand Up To Racism, told the PA news agency that volunteer security personnel accompanied them. He added: 'We're happy to demonstrate but we're not happy to be attacked by thugs, racists and hooligans.' One man was seen being taken away from the station area by two officers, though it was not clear if he was part of any group. Members of Stand Up To Racism were seen trying to stop people from filming the protesters, as locals watched the march from their driveways. One local man was seen chanting in support of Tommy Robinson, whose real name is Stephen Yaxley-Lennon, as the march went past. He began shouting 'there's only one Tommy Robinson' when a protester approached him. One Stand Up To Racism protester chanted 'fascist scum' at him before police stepped in to ensure they would not come together. Essex Police said it had established protest restrictions due to repeated serious disruption, violence, and harm to the community during previous demonstrations. The force said that there was a ban on anyone wearing face coverings and that there were designated sites opposite the hotel for protesters. A dispersal order was in effect from 12pm on Sunday until 8am on Monday, covering Epping town centre and nearby transport hubs. Both sets of protesters were kept separated by fences. Those protesting outside The Bell Hotel in Epping chose to ignore counter-demonstrators and began singing. They sang Sweet Caroline and Come On Eileen while demonstrators from Stand Up To Racism chanted 'Nazi scum off our streets'. Essex Police said that residents have reported feeling 'trapped', fearful of leaving their homes and anxious about protest activity previously. Hotel residents and staff have been advised to remain indoors after 5pm as some have experienced verbal and physical harassment, including a resident chased and injured while returning to the hotel, the force added. Essex Police said there was an 'escalation of violence' during protests on July 13, 17, 20 and 24, involving hundreds of people. The force added that officers were assaulted, missiles were thrown, vehicles were vandalised and the hotel sustained broken windows and graffiti. The Epping protest was sparked by the charging of asylum seeker Hadush Gerberslasie Kebatu, 38, with sexual assault after he allegedly attempted to kiss a 14-year-old girl. He denied the charge at Chelmsford Magistrates' Court and will stand trial in August.

Trump ‘really likes' TikTok— but admin warns Chinese ownership not acceptable as dead deadline looms
Trump ‘really likes' TikTok— but admin warns Chinese ownership not acceptable as dead deadline looms

New York Post

time28 minutes ago

  • New York Post

Trump ‘really likes' TikTok— but admin warns Chinese ownership not acceptable as dead deadline looms

President Trump likes TikTok but the Chinese-owned short video app, used by some 170 million Americans, has to move to US ownership, Secretary of Commerce Howard Lutnick said on Sunday. 'The President really likes TikTok, and he said it over and over again, because, you know, it was a good way to communicate with young people,' Lutnick said in an interview on Fox News Sunday with Shannon Bream. 'But let's face it, you can't have the Chinese have an app on 100 million American phones, that is just not okay. So, it's got to move to American ownership, it's got to move to American technology, American algorithms,' he said. 'I know the President is positive towards TikTok, if it can move into American hands.' Advertisement 3 Commerce Secretary Howard Lutnick said Sunday that President Trump likes TikTok because 'it was a good way to communicate with young people.: FOX NEWS Lutnick's comments follow his warning last week that TikTok will have to stop operating in the U.S. if China does not approve a deal for the app. He told CNBC on Thursday that US must control the algorithm that makes the social media platform work. Advertisement TikTok parent ByteDance has a Sept. 17 deadline to divest the platform's US assets. Last month, President Trump extended by 90 days to Sept. 17, a deadline for China-based ByteDance to divest the US assets of TikTok. Trump's action took place despite a 2024 law that mandated a sale or shutdown by Jan. 19 of this year if there had not been significant progress. 3 President Trump has set a Sept. 17 deadline for Chinese firm ByteDance to divest TikTok's US assets. Getty Images 'China can have a little piece or ByteDance, the current owner, can keep a little piece. But basically, Americans will have control. Americans will own the technology, and Americans will control the algorithm,' Lutnick said. Advertisement 'If that deal gets approved, by the Chinese, then that deal will happen,' he added. 'If they don't approve it, then TikTok is going to go dark, and those decisions are coming very soon.' 3 A deal that was in the works this spring that would spin off TikTok's US operations into a new US-based firm stalled. Chidori_B – A deal had been in the works this spring that would spin off TikTok's US operations into a new US-based firm, majority-owned and operated by US investors. This stalled after China indicated it would not approve it following Trump's announcements of steep tariffs on Chinese goods. Trump has three times granted reprieves from federal enforcement of the law that mandated the sale or shutdown of TikTok that was supposed to take effect in January.

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