Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Lego’s $1B plan to build new factory in U.S.

Published

on

Lego announces its billion dollar plan to build a second U.S. factory

Much loved toymaker, Lego have just announced they’ll be investing more than $1 billion into a new US factory.

The new facility will be built in Virginia, making it the second factory to open in the US.

The carbon-neutral facility will be powered by renewable energy from an onsite solar park.

By the end of the decade, Lego hopes to replace their current materials with sustainable ones.

Their plan is also to build more factories in key markets, with their latest factory under construction in Vietnam.

“Our factories are located close to our biggest markets which shortens the distance our products have to travel,” says Lego Group’s Chief Operations Officer, Carsten Rasmussen.

LEGO

Their current 6 factories make a whopping 100 billion bricks each year with a sales growth of 27% in the last year.

Katerina Kostakos contributed to this article.

Continue Reading

Money

Trump’s tariffs disrupt Australia’s trade, impacting economy

Donald Trump’s trade tariffs could negatively disrupt Australia’s economy, impacting exports like beef and canola oil amid global trade tensions.

Published

on

Donald Trump’s trade tariffs could negatively disrupt Australia’s economy, impacting exports like beef and canola oil amid global trade tensions.

In Short

Trump’s trade tariffs threaten Australian exports, notably canola oil and beef, with China’s retaliatory export curbs exacerbating the situation.

A full trade war could drastically impact Australia’s iron ore industry and currency stability, complicating its trade relations amidst rising global competition.

Donald Trump’s new trade tariffs could have adverse effects on Australian exports, including canola oil, beef, and critical minerals.

China has implemented retaliatory export curbs on metals essential for technology, raising concerns as China controls much of the global supply. While the US may seek alternatives in countries like Australia for strategic minerals, tensions with Canada complicate this shift.

However, a full-scale trade war would negatively impact Australia’s largest commodity export, iron ore. A weakening Chinese economy could reduce demand for steel-making materials, harming Australia’s trade interests. Trump’s potential expansion of tariffs on aluminium and steel poses additional risks to local manufacturers amid fears of cheap imports undermining the market.

The beef industry could also face disruption. As the US cattle herd declines, tariffs might disrupt Australian beef exports, leading to price hikes. Conversely, Canada could increase canola exports to non-US markets, intensifying competition for Australian oilseed farmers.

Furthermore, the recent tariff announcements have caused fluctuations in the Australian dollar, which hit low levels against the US dollar initially. Subsequent relief for Canada and Mexico caused a brief recovery, yet ongoing tariff disputes could negatively impact the currency’s stability.

Continue Reading

Money

Trump’s tariffs raise prices on Chinese imports

Trump’s new 10% tariff on Chinese imports could raise prices for electronics, clothing, cars, and home appliances in the US.

Published

on

Trump’s new 10% tariff on Chinese imports could raise prices for electronics, clothing, cars, and home appliances in the US.

In Short

President Trump has imposed a 10% tariff on imports from China, potentially increasing costs for US consumers on electronics, clothing, cars, and appliances. The National Retail Federation urges negotiations to mitigate price hikes while analysts predict significant increases in product prices.

President Donald Trump has implemented an additional 10% tariff on imports from China, which could potentially rise further.

This move is likely to result in higher prices for various goods in the US, particularly consumer electronics, clothing and textiles, cars, and home appliances.

In 2023, the US imported $427 billion worth of goods from China. Notably, consumer electronics sales included substantial imports of cellphones and laptops. The Consumer Technology Association estimates that tariffs could raise laptop prices by up to 68%, video game consoles by 58%, and smartphones by 37%.

In clothing and textiles, imports amounted to $19.6 billion in 2023. Retailers may increase prices of apparel and accessories due to these tariffs.

Cars are affected as well, with US imports of car parts valued at $14.6 billion. Analysts suggest that domestic automakers sourcing parts from China may be compelled to raise prices.

Home appliances also face price increases. The National Retail Federation projected that the average price of a basic fridge could rise from $650 to $776.

The NRF has urged all parties to negotiate solutions to strengthen trade relations and avoid passing costs on to American consumers.

Continue Reading

Money

Cryptocurrency drops amid Trump’s trade war concerns

“Cryptocurrency Prices Plunge Amid Market Uncertainty from Trump’s Trade War Impact”

Published

on

“Cryptocurrency Prices Plunge Amid Market Uncertainty from Trump’s Trade War Impact”

Cryptocurrency markets have experienced a significant downturn amid concerns over ongoing trade tensions.

The fluctuations in value seem closely tied to Donald Trump’s trade policies.

Investors are reacting to uncertainty surrounding international trade agreements.

Bitcoin and other cryptocurrencies have seen sharp declines in recent days.

Analysts suggest that the instability in traditional markets is influencing investor sentiment in cryptocurrencies.

This latest slide raises questions about the resilience of digital currencies in volatile economic environments.

Market observers are monitoring the situation closely for further developments.

Traders are advised to exercise caution given the risk associated with current market conditions.

Potential impacts on the broader economy could also influence the cryptocurrency landscape.

Overall, the situation reflects growing anxiety among investors regarding future market stability.

Continue Reading

Trending Now