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The US is bombing targets across Syria, and it isn’t the only one seizing on this uncertain momentDETROIT (AP) — If Donald Trump makes good on his threat to slap 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give American families a break from inflation. Economists say companies would have little choice but to pass along the added costs, dramatically raising prices for food, clothing, automobiles, booze and other goods. The president-elect floated the tariff idea, including additional 10% taxes on goods from China, as a way to force the countries to halt the flow of illegal immigrants and drugs into the U.S. But his posts Monday on Truth Social threatening the tariffs on his first day in office could just be a negotiating ploy to get the countries to change behavior. High food prices were a major issue in voters picking Trump over Vice President Kamala Harris, but tariffs almost certainly would push those costs up even further. For instance, the Produce Distributors Association, a Washington trade group, said Tuesday that tariffs will raise prices for fresh fruit and vegetables and hurt U.S. farmers when other countries retaliate. “Tariffs distort the marketplace and will raise prices along the supply chain, resulting in the consumer paying more at the checkout line,” said Alan Siger, association president. Mexico and Canada are two of the biggest exporters of fresh fruit and vegetables to the U.S. In 2022, Mexico supplied 51% of fresh fruit and 69% of fresh vegetables imported by value into the U.S., while Canada supplied 2% of fresh fruit and 20% of fresh vegetables. Before the election, about 7 in 10 voters said they were very concerned about the cost of food, according to AP VoteCast, a survey of more than 120,000 voters. “We’ll get them down,” Trump told shoppers during a September visit to a Pennsylvania grocery store. The U.S. is the largest importer of goods in the world, with Mexico, China and Canada its top three suppliers, according to the most recent U.S. Census data. People looking to buy a new vehicle likely would see big price increases as well, at a time when costs have gone up so much they are out of reach for many. The average price of a new vehicle now runs around $48,000. About 15% of the 15.6 million new vehicles sold in the U.S. last year came from Mexico, while 8% crossed the border from Canada, according to Global Data. Much of the tariffs would get passed along to consumers, unless automakers can somehow quickly find productivity improvements to offset them, said C.J. Finn, U.S. automotive sector leader for PwC. That means even more consumers “would potentially get priced out,” Finn said. Hardest hit would be Volkswagen, Stellantis, General Motors and Ford, Bernstein analyst Daniel Roeska wrote Tuesday in a note to investors. “A 25% tariff on Mexico and Canada would severely cripple the U.S. auto industry,” he said. The tariffs would hurt U.S. industrial production so much that “we expect this is unlikely to happen in practice,” Roeska said. The tariff threat hit auto stocks on Tuesday, particularly shares of GM, which imports about 30% of the vehicles it sells in the U.S. from Canada and Mexico, and Stellantis, which imports about 40% from the two countries. For both, about 55% of their lucrative pickup trucks come from Mexico and Canada. GM stock lost almost 9% of its value, while Stellantis dropped nearly 6%. It's not clear how long the tariffs would last if implemented, but they could force auto executives to move production to the U.S., which could create more jobs in the long run. However, Morningstar analyst David Whiston said automakers probably won't make any immediate moves because they can't quickly change where they build vehicles. Millions of dollars worth of auto parts flow across the borders with Mexico and Canada, and that could raise prices for already costly automobile repairs, Finn said. The Distilled Spirits Council of the U.S. said tariffs on tequila or Canadian whisky won’t boost American jobs because they are distinctive products that can only be made in their country of origin. In 2023, the U.S. imported $4.6 billion worth of tequila and $108 million worth of mezcal from Mexico and $537 million worth of spirits from Canada, it said. “Tariffs on spirits products from our neighbors to the north and south are going to hurt U.S. consumers and lead to job losses across the U.S. hospitality industry,” it added. Electronics retailer Best Buy said on its third-quarter earnings conference call that it runs on thin profit margins, so while vendors and the company will shoulder some increases, Best Buy will have to pass tariffs to customers. “These are goods that people need, and higher prices are not helpful,” CEO Corie Barry said. Walmart also warned last week that tariffs could force it to raise prices. Tariffs could trigger supply chain disruptions as people buy goods before they are imposed and companies seek alternate sources of parts, said Rob Handfield, a professor of supply chain management at North Carolina State University. Some businesses might not be able to pass on the costs. “It could actually shut down a lot of industries in the United States. It could actually put a lot of U.S. businesses out of business,” he said. Canadian Prime Minister Justin Trudeau, who talked with Trump after his call for tariffs, said they had a good conversation about working together. "This is a relationship that we know takes a certain amount of working on and that’s what we’ll do,” Trudeau said. Trump's threats come as arrests for illegally crossing the border from Mexico have been falling . But arrests for illegally crossing the border from Canada have been rising over the past two years. Much of America’s fentanyl is smuggled from Mexico, and seizures have increased. Trump has sound legal justification to impose tariffs, even though they conflict with a 2020 trade deal brokered in large part by Trump with Canada and Mexico, said William Reinsch, senior adviser at the Center for Strategic and International Studies and a former Clinton administration trade official. The treaty, known as the USMCA, is up for review in 2026. In China’s case, he could simply declare Beijing hasn't met obligations under an agreement he negotiated in his first term. For Canada and Mexico, he could say the influx of migrants and drugs are a national security threat, and turn to a section of trade law he used in his first term to slap tariffs on steel and aluminum. The law he would most likely use for Canada and Mexico has a legal process that often takes up to nine months, giving Trump time to seek a deal. If talks failed and the duties were imposed, all three countries would likely retaliate with tariffs on U.S. exports, said Reinsch, who believes Trump's tariffs threat is a negotiating ploy. U.S. companies would lobby intensively against tariffs, and would seek to have products exempted. Some of the biggest exporters from Mexico are U.S. firms that make parts there, Reinsch said. Longer term, Mary Lovely, a senior fellow at the Peterson Institute for International Economics, said the threat of tariffs could make the U.S. an “unstable partner” in international trade. “It is an incentive to move activity outside the United States to avoid all this uncertainty,” she said. Trump transition team officials did not immediately respond to questions about what he would need to see to prevent the tariffs from being implemented and how they would impact prices in the U.S. Mexican President Claudia Sheinbaum suggested Tuesday that Mexico could retaliate with tariffs of its own. Sheinbaum said she was willing to talk about the issues, but said drugs were a U.S. problem. ___ Rugaber reported from Washington. AP reporters Dee-Ann Durbin in Detroit, Stan Choe and Anne D'Innocenzio in New York, and Rob Gillies in Toronto contributed to this report.
Dave & Buster's Stock Drops On Disappointing Q3 Earnings, CEO TransitionMr. John Streicker - Minister of Tourism and Culture - has shown his true colours. His ego and need to be right override the concerns and interests of Yukoners, taxpayers and cruise-ship visitors to the Carcross area who support local businesses. He clearly has forgotten he is a public servant. The Minister’s (and his representatives') response to the overwhelming negative feedback they received via letters, social media posts and a petition was "People don't like change." This pat response is insulting considering most comments and criticisms were constructive. Their response to the overwhelming negative face-to-face criticisms they received during the celebration of the new Yukon sign in Carcross was to do an about-face and run. And in one instance, when asked why "Larger than Life" was not printed on the new sign, the response received was that they did not want to put English on the sign. Numerous requests have been made to the Minister to reinstall one of the old signs at the B.C.-Yukon border rather than at the Watson Lake sign post or the Transportation Museum in Whitehorse. The Yukon sign at this location receives the highest numbers of annual visitors: over 100,000. This is a reasonable request that would address all the issues brought to his attention but to date, the Minister has not responded. The questions we have for the Minister are: 1. Why did he approve artwork of a deformed sheep (horn tips going in opposite directions, black eye, misaligned face, looks like it is missing one of its’ front legs) for the Yukon sign? This is an embarrassment for Yukoners and insulting to the other artists (artists were paid the same amount). 2. How can he justify stating to a tour operator that the artwork is not going to be changed even though he is fully aware of the issues regarding it? 3. Why should local business owners, Skagway tour operators and drivers suffer the embarrassment of your mistake and thus the disappointment of visitors for another four years? 4. Please explain how you expect anyone to be proud of this sign/artwork? 5. When can we expect to see the old sign reinstalled at the B.C.-Yukon Border? A sign we are proud of and visitors loved. Respectfully, Jacqueline St. Jacques on behalf of: Skagway Tour Operators/Drivers 100,000 Cruise Ship VisitorsNEW YORK — Eager to preserve President-elect Donald Trump's hush money conviction even as he returns to office, prosecutors suggested various ways forward — including one based on how some courts handle criminal cases when defendants die. In court papers made public Tuesday, the Manhattan district attorney's office proposed an array of options for keeping the historic conviction on the books. The proposals include freezing the case until Trump is out of office, or agreeing that any future sentence wouldn't include jail time. Another idea: closing the case with a notation that acknowledges his conviction but says that he was never sentenced and his appeal wasn't resolved because of presidential immunity. Former President Donald Trump appears in Manhattan criminal court May 30 during jury deliberations in his criminal hush money trial in New York. The last is adopted from what some states do when a criminal defendant dies after being convicted but before appeals are exhausted. It is unclear whether that option is viable under New York law, but prosecutors suggested that Judge Juan M. Merchan could innovate in what's already a unique case. "This remedy would prevent defendant from being burdened during his presidency by an ongoing criminal proceeding," prosecutors wrote. But at the same time, it wouldn't "precipitously discard" the "meaningful fact that defendant was indicted and found guilty by a jury of his peers." Expanding on a position they laid out last month, prosecutors acknowledged that "presidential immunity requires accommodation during a president's time in office," but they were adamant that the conviction should stand. They argued that Trump's impending return to the White House should not upend a jury's finding. Trump wants the case to be thrown out in light of his election. His communications director, Steven Cheung, called prosecutors' filing "a pathetic attempt to salvage the remains of an unconstitutional and politically motivated hoax." Trump has fought for months to reverse his conviction on 34 counts of falsifying business records. Prosecutors said he fudged the documents to conceal a $130,000 payment to porn actor Stormy Daniels to suppress her claim that they had sex a decade earlier. Former President Donald Trump returns to the courtroom May 30 at Manhattan Criminal Court in New York. He claims they didn’t and denies wrongdoing. Trump portrays the case as a political attack ginned up by District Attorney Alvin Bragg and other Democrats. Trump's legal team argues that letting the case continue would present unconstitutional "disruptions" to his upcoming presidential term. Trump's attorneys also cited President Joe Biden's recent pardon of his son Hunter Biden, who was convicted of tax and gun charges. Biden complained that his son was unfairly prosecuted for political reasons — and Trump's lawyers say he was, too. Trump's lawyers argued that the possibility of a jail sentence — even if it's after he leaves office — would affect his presidency. Prosecutors suggested Merchan could address that concern by agreeing not to put him behind bars. It's unclear how soon Merchan could decide what to do next with the case. He could grant Trump's request for dismissal, go with one of the suggestions from prosecutors, wait until a federal appeals court rules on Trump's parallel effort to get the case moved out of state court, or choose some other option. Trump, a Republican, takes office Jan. 20. Former President Donald Trump gestures May 31 as he leaves a news conference at Trump Tower in New York. He was scheduled for sentencing late last month. After Trump's Nov. 5 election win, Merchan halted proceedings and indefinitely postponed the former and future president's sentencing so the defense and prosecution could weigh in on the future of the case. Merchan also delayed a decision on Trump's prior bid to dismiss the case on immunity grounds. A dismissal would erase Trump's conviction, sparing him the cloud of a criminal record and possible prison sentence. Trump is the first former president to be convicted of a crime and the first convicted criminal to be elected to the office. The hush money case was the only one of Trump's four criminal indictments to go to trial. Since the election, special counsel Jack Smith ended his two federal cases, which pertained to Trump's efforts to overturn his 2020 election loss and allegations that he hoarded classified documents at his Mar-a-Lago estate. A separate state election interference case in Fulton County, Georgia, is largely on hold. Trump denies wrongdoing in each case. Former President Donald Trump speaks outside the courtroom after a jury convicted him of felony crimes for falsifying business records in a scheme to illegally influence the 2016 election, at Manhattan Criminal Court in New York, Thursday, May 30, 2024. (Steven Hirsch/New York Post via AP, Pool) Former President Donald Trump sits in Manhattan criminal court, on May 13, 2024, in New York. (Sarah Yenesel/Pool Photo via AP) Former President Donald Trump talks to the media outside Manhattan criminal court in New York, on May 14, 2024. (Curtis Means/Pool Photo via AP) Former President Donald Trump appears at Manhattan criminal court before his trial in New York, on April 30, 2024. (Justin Lane/Pool Photo via AP) Michael Cohen, right, leaves his apartment building in New York, on May 14, 2024. (AP Photo/Seth Wenig) Former President Donald Trump appears at Manhattan criminal court during jury deliberations in his criminal hush money trial in New York, Thursday, May 30, 2024. (Mark Peterson/Pool Photo via AP) Former President Donald Trump awaits the start of proceedings in Manhattan Criminal Court, on May 28, 2024, in New York. (AP Photo/Julia Nikhinson, Pool) Former President Donald Trump appears at Manhattan criminal court during jury deliberations in his criminal hush money trial in New York, Thursday, May 30, 2024. (Steven Hirsch/New York Post via AP, Pool) From left North Dakota Gov. Doug Burgum, U.S. Speaker of the House Mike Johnson and businessman Vivek Ramaswamy look on as former President Donald Trump talks to the media as he arrives at Manhattan criminal court in New York, on May 14, 2024. (Curtis Means/Pool Photo via AP) A supporter of former President Donald Trump reads a "Jews for Trump" sign outside Manhattan Criminal Court, on May 29, 2024, in New York. (AP Photo/Julia Nikhinson) Donald Trump, Jr. speaks to reporters across the street from former President Donald Trump's criminal trial in New York, on May 28, 2024. (AP Photo/Seth Wenig) A supporter of former President Donald Trump and an anti-Trump protester fight outside Manhattan Criminal Court, Thursday, May 30, 2024, in New York. (AP Photo/Julia Nikhinson) Robert De Niro, center, argues with a Donald Trump supporter after speaking to reporters in support of President Joe Biden across the street from Trump's criminal trial in New York, on May 28, 2024. (AP Photo/Seth Wenig) Donald Trump Jr. speaks outside Manhattan criminal court, on May 21, 2024, in New York. (AP Photo/Julia Nikhinson) Former President Donald Trump talks to the media after a day of testimony in his trial at Manhattan Criminal court in New York, on May 10, 2024. (Jeenah Moon/Pool Photo via AP) Rep. Troy Nehls, R-Texas, wears a tie with photographs of former President Donald Trump during a press conference outside Manhattan criminal court, on May 21, 2024, in New York. (AP Photo/Julia Nikhinson) Trump supporters wave flags and cheer as the motorcade carrying former President Donald Trump leaves the Manhattan Criminal court, on May 13, 2024, in New York. (AP Photo/Stefan Jeremiah) Former President Donald Trump, seen through a camera viewfinder, speaks to members of the media at Manhattan criminal court in New York, on May 2, 2024. (Jeenah Moon/Pool Photo via AP) Former President Donald Trump gestures as he returns to court after a lunch break, at Manhattan criminal court in New York, on May 16, 2024. (Mike Segar/Pool Photo via AP) Former President Donald Trump speaks to reporters at Manhattan Criminal Court on May 21, 2024 in New York. (Michael M. Santiago/Pool Photo via AP) Supporters of former President Donald Trump gather in Collect Pond Park outside Manhattan Criminal Court, Thursday, May 30, 2024, in New York. (AP Photo/Julia Nikhinson) Former President Donald Trump closes his eyes, during his trial at Manhattan criminal court on May 16, 2024, in New York. (Mike Segar/Pool Photo via AP) Former President Donald Trump sits in the courtroom during his criminal trial at the Manhattan criminal court in New York, on May 6, 2024. (Brendan McDermid/Pool Photo via AP) Former President Donald Trump walks to the courtroom at Manhattan criminal court as jurors are expected to begin deliberations in his criminal hush money trial in New York, on May 29, 2024. (Charly Triballeau/Pool Photo via AP) Former President Donald Trump leaves Trump Tower on his way to Manhattan criminal court, on April 15, 2024, in New York. (AP Photo/Yuki Iwamura) Former President Donald Trump sits in Manhattan Criminal Court in New York, on May 20, 2024. (Dave Sanders/The New York Times via AP, Pool) Respond: Write a letter to the editor | Write a guest opinion Subscribe to stay connected to Tucson. A subscription helps you access more of the local stories that keep you connected to the community. Sign up for our Crime & Courts newsletter Get the latest in local public safety news with this weekly email.
Furthermore, Macron's attempted reforms have faced resistance from various quarters, including trade unions, political opponents, and the general public. His push for pension reforms has been met with fierce opposition, leading to nationwide strikes and demonstrations. The lack of consensus and inability to implement significant reforms has raised doubts about Macron's ability to effectively govern and enact meaningful change in France.
Stephen Curry Steals The Show At The Sneaker Con, Unveils New Under Armour Shoes