DHL to suspend global shipments of over $800 to US consumers
Source: CNN Business/Reuters
Published 2:19 AM EDT, Sun April 20, 2025
Reuters — DHL Express, a division of Germany’s Deutsche Post, said it would suspend global business-to-consumer shipments worth over $800 to individuals in the United States from April 21, as US customs regulatory changes have lengthened clearance. The notice on the company website was not dated, but its metadata showed it was compiled on Saturday.
DHL blamed the halt on new US customs rules which require formal entry processing on all shipments worth over $800. The minimum had been $2,500 until a change on April 5. DHL said business-to-business shipments would not be suspended but could face delays. Shipments under $800 to either businesses or consumers were not affected by the changes.
The move is a temporary measure, the company said in its statement. DHL said last week in response to Reuters questions that it would continue to process shipments from Hong Kong to the United States “in accordance with the applicable customs rules and regulations” and would “work with our customers to help them understand and adapt to the changes that are planned for May 2.”
That came after Hongkong Post said last week it had suspended mail services for goods sent by sea to the United States, accusing the US of “bullying” after Washington canceled tariff-free trade provisions for packages from China and Hong Kong.
China tells US to 'cancel all unilateral tariffs' if it wants talks
Source: Financial Times
Beijing has called on the US to "completely cancel all unilateral tariff measures" if it wants trade talks, in some of China's strongest comments yet on the impasse between the world's two economic superpowers.
Beijing on Thursday also said there were "currently no economic and trade negotiations between China and the United States", despite recent signs of softening on dispute from Washington. US Treasury secretary Scott Bessent has said in recent days that the trade war is "not sustainable" and "there would have to be a de-escalation by both sides".
"The unilateral tariff measures were initiated by the US," said He Yadong, a Chinese commerce ministry spokesperson. "If the US truly wants to solve the problem, it should completely cancel all unilateral tariff measures against China and find a way to resolve differences through equal dialogue."
Home sales fall to lowest level since the financial crisis
The slump is especially noteworthy because sales typically pick up in March as the spring buying season gets underway.
Product shortages and empty store shelves loom with falling shipments from China
Source: NBC News
April 25, 2025, 5:00 AM EDT
Retailers are warning that U.S. consumers could once again be faced with empty store shelves and the kind of supply chain snarls that marked the Covid era if President Donald Trump's tariffs on China remain at their current levels. Companies have been canceling their shipments of goods from China and halting new orders after Trump put a 145% tariff on nearly all Chinese imports this month.
As a result, the number of freight vessels scheduled to arrive at the Port of Los Angeles is on track to be down 33% year-over-year for the week ending May 10, according to ship tracking data from Port Optimizer. Typically, U.S. retailers would be ramping up their orders for two critical periods later this year: the fall back-to-school shopping season and the winter holidays. And the pullback is creating uncertainty about whether U.S. shoppers will have the selection of goods they've grown accustomed to in the coming months.
"They're making their holiday buying decisions now," said Jonathan Gold, vice president of supply chain and customs policy for the National Retail Federation. "It's a challenge for folks to figure out how to properly order and price with all the uncertainty that's out there on the tariffs."
At the current tariff rate, a U.S.-based company would have to pay at least $145 in tariff fees to Customs and Border Protection to import an item valued at $100, except for electronics and pharmaceuticals, which are levied at a lower rate. That fee could wipe out any profit a company would be making and force it to sell its products at a loss or raise prices to levels that consumers might not be willing to pay.
Shein Hikes US Prices as Much as 377% Ahead of Tariff Increases
Source: Bloomberg
April 27, 2025 at 5:01 AM EDT
Fast-fashion giant Shein Group Ltd. raised US prices of its products from dresses to kitchenware ahead of imminent tariffs on small parcels, in an early sign of the potential effect of the trade war on American consumers.
Most of the hikes in US prices came on Friday, with markups significantly higher in some categories than others, according to data compiled by Bloomberg News.
The average price for the top 100 products in the beauty and health category increased by 51% from Thursday, with several of the items more than doubling in price.
For home and kitchen products and toys, the average jump was more than 30%, led by a massive 377% increase in the price of a 10-piece set of kitchen towels. For women’s clothing the rise was 8%.
Scott Bessent says China could lose 10 million jobs 'very quickly' if tariffs don't drop
Source: Yahoo Finance
Treasury Secretary Scott Bessent on Tuesday said the "onus" is on China to bring down its tariffs as he outlined how many jobs the world's second-largest economy stands to lose in a trade war.
If the US keeps tariffs in place at the current level of 145%, China could lose 10 million jobs "very quickly," Bessent said during a press conference at the White House, citing outside statistics.
Even if the US were to lower tariffs somewhat, China still stands to lose 5 million jobs, he added.
"So remember that we are the deficit country," Bessent said. "They sell almost five times more goods to us than we sell to them. So the onus will be on them to take off these tariffs. They're unsustainable for them."
"NEVER INTENDED ON THE MAIN SITE"-gate: Looks like Bezos DID plan to show tariffs, Trump called & yelled, Bezos groveled
Amazon released two statements after Leavitt’s grilling. The first claimed that only Amazon’s ultra-low-cost Amazon Haul platform was considering implementing the tariff information. Amazon Haul has been described as a “Temu copycat,” offering lower prices but longer shipping wait times.
A second statement from the business, released shortly after, stated outright that the tariff pricing disclaimer “was never approved and will not occur.”
CNN reported that a peeved Trump called Bezos after learning of Punchbowl’s report. Then, just after 1 p.m., Trump adviser Stephen Miller confirmed the call to Fox News and said that “things worked out exactly as they should.”
'Uh, Yeah': Trump Says It's 'Ok' if He Causes a Recession
Source: MEDIAite
May 2nd, 2025, 10:15 pm
President Donald Trump acknowledged that his trade policies could lead to a recession, but said ultimately, “We’re gonna do fantastically.”
Trump sat down with Meet the Press host Kristen Welker for an interview that will air on Sunday’s program. MSNBC teased the conversation with a brief clip on Friday:
WELKER: Some people on Wall Street have expressed concerns that the possibility of a recession is increasing. And I wanna know what you think about that. Are you comfortable with the country potentially dipping into a recession for a period of time if you are able to achieve your long-term goals?
TRUMP: Well, you know, you say some people on Wall Street say. Well, I tell you something else. Some people on Wall Street say that we’re gonna have the greatest economy in history. Why don’t you talk about them? Because some people on Wall Street say this–
WELKER: Well, that’s what I’m getting at. That’s what I’m getting at, though. It’s the same question.
TRUMP: There are many people on Wall Street say this is gonna be the greatest windfall ever happened.
WELKER: And that’s my question. The long term. Is it ok in the short term to have a recession?
TRUMP: Remember this. Look, uh, yeah. It’s– everything’s ok. What we are, I said this is a transition period. I think we’re gonna do fantastically.
Trump sent markets reeling last month when he announced sweeping tariffs on almost all imports.
The clock is ticking down to zero, and Trump needs a trade deal — badly
Quote
President Donald Trump, the dealmaker-in-chief, has said for weeks that at least one trade deal is imminent with one of the dozens of countries in active negotiations with the United States to avoid punishing tariffs. So where is it?
On Sunday aboard Air Force One, Trump said there “could very well be” trade deals announced this week. He also said that last week. And the week before.
At the same time, Trump continued to temper expectations, saying foreign countries — both friends and foes — have been “ripping off” the United States for years, and trade agreements would come only when he agrees to terms that will benefit Americans. The ball is in his court, not theirs, Trump argues.
“We’re negotiating with many countries but at the end of this I’ll set my own deals because I set the deal, they don’t set the deal, I set the deal,” he told reporters Sunday. “This is not like a big deal that’s gonna be signed — in some cases we’ll sign them, but we don’t have to sign them. I’ll be setting the deal, I’ll be setting the tariff.”
China and the U.S. Still Not Talking Tariffs: Not Even a 'Negotiation About the Negotiation?'
Source: MEDIAite
May 5th, 2025, 6:42 pm
CNBC’s Sara Eisen spoke to Treasury Secretary Scott Bessent on Monday and pressed him on whether or not any progress has been made in negotiations to ease the massive trade tariffs placed by President Donald Trump on China. “But China is key. I know you set it aside. And you’re heavily involved here. You have said they need to de-escalate and start that process for us to get going on trade talks. Have they made any effort at this point?” Eisen asked during the lengthy interview.
“I think that, I think we could see substantial progress in the coming weeks. We will see that, as I think it’s Stein’s Law, that which is not sustainable doesn’t continue. So, 145 percent, 125 percent tariff levels are the equivalent of an embargo,” Bessent noted.
“Yes,” Eisen agreed. “And we’re reading every day what’s happening with factories in China. And from an academic point of view, I can tell you that the history of trade battles, we are the deficit country. The surplus country always has the most to lose,” Bessent added. “Right. So, they need to make more gestures? What is it that you’re looking for? And is that happening? Is there a negotiation about the negotiation?” Eisen prodded.
“Yes, we will see over the coming weeks. And we will see what President Trump wants to accept,” Bessent replied. “Right. I mean, have they offered anything on the fentanyl, for instance, precursor ingredients?” Eisen pressed again, trying to understand if any talks were taking place. “It’s only what they have said publicly.
The first boats carrying Chinese goods with 145% tariffs are arriving. Shipments are cut in half. Expect shortages soon.
CNN — American consumers are on the cusp of tough choices because of President Donald Trump’s trade war.
Ships now pulling into US harbors from China are the first to be subject to the massive tariffs that America is imposing on most Chinese imports. That means, in a matter of weeks, consumers will face higher prices and shortages of certain items.
Imports from China have fallen dramatically since Trump imposed steep tariffs – particularly since last month, when the tit-for-tat trade war sent the tariff on most Chinese goods up to 145%.
“This week, we’re down about 35% compared to the same time last year, and these cargo ships coming in are the first ones to be attached to the tariffs that were levied against China and other locations last month,” Gene Seroka, executive director of the Port of Los Angeles, told CNN Tuesday. “That’s why the cargo volume is so light.”
The drop-off in imports from China on the boats now coming into port is more than 50%, Seroka said. Many importers have canceled previous orders because US businesses aren’t interested in paying the steep tariff, which can more than double the price of Chinese goods.
