Canadian Trade Minister on US tariffs, China Relations
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Bloomberg
26 minutes ago
- Bloomberg
Surprise Trump Trade Deal to Weigh on Indonesia Rate Decision
The Indonesian trade deal announced by US President Donald Trump provides some clarity for the nation's economy, although the lack of details will likely keep its central bank cautious at its monetary policy meeting Wednesday. Before Trump unveiled the agreement on Tuesday in Washington, some 18 of 33 analysts surveyed by Bloomberg had predicted Bank Indonesia would hold rates unchanged at 5.5% to support the rupiah at its meeting in Jakarta. The rest expected a 25 basis point cut to preemptively help the slowing economy.
Yahoo
32 minutes ago
- Yahoo
Trump Trade Deal Revealed: Indonesia Shoe Imports to US Will Face 19 Percent Tariff Rate
U.S. President Donald Trump's increase in trade pressures has resulted in a new deal with Indonesia, the first since he sent out the flurry of tariff letters last week. Trump revealed the move Tuesday morning on his Truth Social platform. Details were not disclosed in the post. He said he dealt 'directly' with Indonesia's President Prabowo Subianto. More from WWD Shoe Prices Dip in June but Tariff Pressures Could Lead to Increases Later This Year, FDRA and AAFA Say President Trump's Tariffs Spark Reactions in Italy EXCLUSIVE: Diesel and Melissa Team on Futuristic Footwear Collection With Genderless Sneaker and More Styles The tariff letter to Indonesia that was sent out a week ago Tuesday threatened a 32 percent levy if a deal could not be reached by Aug. 1. But Trump later told reporters at the White House that imports to the U.S. will have a 19 percent rate, and that 'We are going to have full access to Indonesia,' and that U.S. exports will not be taxed, according to a story from Bloomberg. Still on the horizon could be some parameter of a trade deal with India. Trump said on July 7 that the two were close to a trade deal. With negotiations ongoing, India has not received a tariff letter. If an 'agreement' is forthcoming, it would likely be lower than the threatened 26 percent duty rate from April 2, when Trump's reciprocal tariffs were first disclosed. So far, the 'trade deals' with Vietnam and the U.K. have been agreements in principle, with final terms still to be negotiated. In the case of Vietnam, disclosed on July 2, Footwear Distributors and Retailers of America president and CEO Matt Priest said the lack of specifics is a problem for the shoe industry when what it needs is certainty. 'Will we get credit for what we already paid? We already paid 20 percent for sneakers out of Vietnam, so do we get credit for that or will this be on top of what we already pay? We're still trying to figure all that out,' Priest said. What also isn't clear is whether there's also a transshipping component. The parameters for a Vietnam trade deal includes a 40 percent tariff on transshipped goods. China suppliers are known to ship to nearby Southeast Asian nations, making it their first stop before heading to the final U.S. destination, where they can take advantage of lower tariff rates. The tariff letters Trump sent out to most countries included some mention of retaliatory transshipping rates. The new tariff letters since Saturday were to the European Union and Mexico at a 30 percent rate. Last Thursday, he socked America's northern neighbor Canada with a 35 percent tariff rate. The highest rate threatened thus far in his tariff letters was the 50 percent levy on Brazilian imports to the U.S. Brazil is the fifth largest producer of footwear in the world, and the largest in the West. The only certainty so far is that the rates seem to be at least in the double-digit percentages, although likely lower than initially threatened. The National Retail Federation (NRF), a retail trade group, on Tuesday said 67 percent of back-to-school shoppers had already started buying items for the upcoming school year, earlier than in 2024, or up 55 percent. In NRF's latest survey, over half of respondents at 51 percent cited concern that prices will rise due to tariffs as the reason for the early start. NRF's survey was conducted July 1-7, in partnership with Prosper Insights & Analytics, and included 7,581 U.S. consumers. In addition, data points from the Consumer Price Index (CPI) showed that U.S. inflation in June rose 2.7 percent from year-ago levels, according to the Bureau of Labor Statistics. The annual pace of inflation also ticked up slightly from 2.4 percent in May. The June data is seen as an indicator of the early impact from Trump's global trade war. But some retailers also brought goods in early, and consumers also pulled their shopping forward, as both groups tried to get ahead of expected price increases. In the shoe world, footwear brands said in their first quarter earnings reports that they were planning to raise prices due to the higher tariff costs, but that it would be 'surgical' to select items and not across the board. EY-Parthenon chief economist Gregory Daco estimates that 'roughly one-third of the monthly CPI advance in June can be attributed to a tariff-induced impulse.' EY's Rob Holston, global and Americas consumer products sector leader, expects consumers will become more selective in their purchases, prioritizing value and quality as daily life becomes more expensive. While the full impact of tariffs is still taking shape, he said early signs like rising prices suggest that tariffs are starting to influence the 'broader cost landscape.' Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] 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
Business Upturn
37 minutes ago
- Business Upturn
Trident Resources Announces Disposition of Lincoln Gold Mining Inc. Shares
By GlobeNewswire Published on July 16, 2025, 02:00 IST Vancouver, BC, July 15, 2025 (GLOBE NEWSWIRE) — Trident Resources Corp. (TSX-V: ROCK ) (OTCQB: TRDTF ) ('Trident' or the 'Company') announces the disposition of securities of Lincoln Gold Mining Inc. ('Lincoln') (TSXV: LMG) on the TSX Venture Exchange. On July 14, 2025 and July 15, 2025, Trident disposed of 4,500,000 common shares (the 'Subject Shares') of Lincoln. The Subject Shares represented approximately 19.9% of all issued and outstanding common shares of Lincoln as of July 15, 2025 (22,559,831 per Lincoln's MD&A dated May 30, 2025), immediately following the transaction described above, resulting in a corresponding decrease in the percentage of shares held by Trident as a result of the transaction. Immediately before the transaction described above, Trident held 4,500,000 common shares of Lincoln (the 'Pre-Shares'), representing approximately 19.9% of the issued and outstanding common shares of Lincoln. Immediately following the transaction described above, Trident held 0 common shares of Lincoln (the 'Post-Shares'), representing approximately 0% of the issued and outstanding common shares of Lincoln. The Subject Shares were sold at a price of $0.20 per Subject Share, for an aggregate consideration of $900,000. The holdings of securities of Lincoln by Trident are managed for investment purposes. Trident may from time to time acquire additional securities of Lincoln, dispose of some or all of the existing or additional securities they hold or will hold, or may continue to hold their current positions. A copy of the applicable securities report filed in connection with the matters set forth above may be obtained on SEDAR+ under the profiles of the Company and Lincoln. About Trident Resources Corp.: Trident Resources Corp. is a Canadian public mineral exploration company listed on the TSX Venture Exchange focused on the acquisition, exploration and development of advanced-stage gold and copper exploration projects in Saskatchewan, Canada. The Company is advancing its 100% owned Contact Lake and Greywacke Lake projects which host significant historical gold resources located within the prospective and underexplored La Ronge Gold Belt, as well as the 100% owned Knife Lake copper project which contains a historical copper resource. Trident's Project Portfolio Map: To find out more about Trident Resources Corp. (TSX-V: ROCK), visit the Company's website at Trident Resources Corp. Jonathan Wiesblatt, Chief Executive Officer Email: [email protected] For further information contact myself or: Andrew J. Ramcharan, PhD, Corporate Communications Trident Resources 647-309-5130Toll Free: 800-567-8181Facsimile: 604-687-3119 Email: [email protected] NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. Forward-Looking Information and Statements This release includes certain statements that may be deemed to be 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at for further information. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
