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  • IMF raises UK growth forecast as it warns on tax and spending

    IMF raises UK growth forecast as it warns on tax and spending

    Emma Haslett

    Business reporter, BBC News

    EPA UK growth will hit 1.2% in 2025 and 1.4% in 2026, the IMF said.EPA

    The UK economy is forecast to grow slightly more than previously expected in 2025, but the International Monetary Fund (IMF) has warned that the Chancellor must stick to her rules on tax and spending.

    In its annual health-check for the economy, the IMF predicted growth of 1.2% this year, rising to 1.4% in 2026.

    It said an economic recovery was “under way” after a boost in the first three months of the year.

    The forecast from the influential body comes just over a month after it downgraded its expectations for the UK from 1.6% in 2025 to 1.1%.

    Luc Eyraud, the IMF’s UK mission chief, said growth had been “very strong” in the first three months of the year.

    Official figures released this month revealed the economy was boosted by increases in consumer spending and business investment, but the figures were during the period before the US imposed import tariffs and UK employer taxes increased in April.

    The IMF praised the government’s planning reforms and infrastructure investment plans, which it said would increase growth “if properly implemented”.

    But it added that a “high level of global uncertainty, volatile financial market conditions, and the challenge of containing day-to-day spending” mean the Chancellor Rachel Reeves will face “difficult choices” to balance taxation with spending in the long term.

    It suggested some changes to the government’s self-imposed fiscal rules, including cutting the number of times the Office for Budget Responsibility (OBR) produces an assessment of the UK’s finances to once a year, rather than twice.

    Fiscal rules are self-imposed by most governments in wealthy nations and are designed to maintain credibility with financial markets.

    The government has repeatedly said its rules are “non-negotiable”.

    The chancellor has two main rules which she has argued will bring stability to the UK economy:

    • day-to-day government costs will be paid for by tax income, rather than borrowing
    • to get debt falling as a share of national income by the end of this parliament in 2029/30.

    Global trade tensions

    Growth next year will be weighed down by global trade tensions, including less activity among the UK’s trading partners, the impact of US President Donald Trump’s tariffs and “persistent uncertainty”, the IMF’s report said.

    The combination of these factors will reduce next year’s growth to the tune of 0.3% by 2026, it said.

    But the IMF pointed to trade agreements the UK has struck with countries like EU, India and the US, saying they demonstrated the government’s commitment to “establishing a more predictable environment for UK exporters”.

    Chancellor Reeves welcomed the report, saying that the government’s trade deals were “protecting jobs, boosting investment and cutting prices”.

    But Mel Stride, shadow chancellor, said Reeves had “already fiddled her fiscal targets to allow her to borrow hundreds of billions more over this parliament”.

    “In a context where the Chancellor’s credibility is already in tatters, changing the goalposts a second time would run real risks with market confidence,” he added.

    Rising inflation

    The report comes just over a month after the IMF cut its expectations for UK growth this year to 1.1%, which it said was due to an increase in borrowing costs, US tariffs and a hit from inflation.

    It added at the time that it expected UK inflation to slow to 2.2% by 2026, close to the Bank of England’s 2% target.

    Earlier this month the Office for National Statistics said inflation rose unexpectedly in April to 3.5%, from 2.6% in March. On Tuesday, the IMF said this rise in inflation will last until the second half of this year, returning to target “later in 2026”.

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  • Investors must not let the tariff drama cloud their judgment

    Investors must not let the tariff drama cloud their judgment

    Unlock the Editor’s Digest for free

    The British have a reputation for loving underdogs. The flip side of this is that we also enjoy seeing the mighty have a wobble. And there’s nobody mightier than the US president.

    The investment consensus in London has been consistent with the dinner party consensus: President Donald Trump is a bluffer and his tariff threats are hollow; therefore our portfolios should hold few US equities.

    The US court rulings this week, the first finding the bulk of Trump’s tariffs to be unlawful followed by the reprieve on appeal putting this decision on pause, have only added to the schadenfreude. Perhaps the president missed the issue being outlined in rap in the musical Hamilton: it was, after all, only a central matter in the new constitution since independence had been triggered by tax and tariff issues.

    Whether this should have come as a surprise or not, the only important issue is how investors ought to respond. Should we carry on diversifying away from the US and piling into European stocks?

    It’s the kind of sentiment that does well at dinner parties, but I have found that you shouldn’t let your dinner party views determine your portfolio — at least not without good reason.

    Firstly, Congress taking a greater role in tariff policy may alter the path, but not the direction. After all, it followed a firm line with China, escalating under the first Trump presidency, but one which continued under Biden. And trade disagreements between the US and EU predate even those with China.

    So we could end up with increased tariffs whatever happens. And even a modest increase can play havoc with companies’ operations.

    If the current 10 per cent tariff on European exports to the US remains, or is increased slightly, the EU may choose to ignore it, or it might mirror them, raising the price we pay for US made goods.

    In an attempt to get my head around US tariffs, I tried to add up how much stuff I buy was made in America. It doesn’t amount to all that much — and a 10 per cent price rise due to tariffs would probably mean I substituted some local equivalents. Maybe I have shown myself as being a non-Bourbon drinking, non-Harley riding bloke who no longer looks good in jeans, but I am not alone.

    Tariffs are only part of the reason investors are switching from the US into European stocks, of course. There is also the budget situation, the perceived lower valuations and a belief that the US is a less reliable place to invest than it has been. But investors switching out of the US and into Europe face one major hurdle — the shorter list of companies with interesting growth potential.

    Not surprisingly, European defence stocks have led performance. I doubt that anyone will be sending a thank-you letter to JD Vance, but his calls for European nations to boost their own defence spending have brought the bloc together on security policy in a way that Putin didn’t manage.

    That said, the larger European defence companies sometimes seem to make the kit of past wars — tanks and battleships, rather than drones and cyber attacks. Given how far the shares have risen, one needs to select stocks which will see significant new orders.

    Nearly a quarter of the European equity index is made up of financial stocks. European banks are enjoying the higher interest rate environment.

    But the extra income they receive from higher lending rates will seem modest compared with any rise in bad debts from the companies they lend to. And even a middling-bad tariff outcome is likely to bankrupt quite a few

    As we started from a situation where US equities seemed significantly over-represented in global indices, even a modest reduction in US allocations has left a lot of money looking for a home. Having money burning a hole in fund managers’ pockets is always a worry.

    The good news is that, for longer term investors, a number of Europe’s top stocks from the 2010s have been poor performers in the 2020s. I should know — my funds own them. What they have in common is that they were premium rated for their China business five years ago, but the China slowdown since then has both slowed their growth and led to lower valuations for the stocks.

    From Louis Vuitton to L’Oréal to Schneider, large European companies have focused on China rather than the US over the past decade and we own all three. There are now signs that the China property slump is past the worst, and the People’s Bank of China policies to restore confidence, announced a year ago, are having an effect. Chinese consumers could use some of the product that the US does not want to receive and China seems no longer to be buying so many US bonds.

    Thinking back to the European property crunch in 2008-9, it is worth investing in strong companies whose businesses have coped with the problem years, but being wary of weaker companies which may have made cuts to survive. Although L’Oréal is quite a pricey stock, its US rival Estée Lauder might find any US-China tariff outcome harder to handle than it does.

    Lastly, it’s worth mentioning that tariffs might not be the main market drama of the summer.

    That might come from Republicans in the Senate who have objections to Trump’s tax giveaway and its impact on US debt. We have already seen the president “pause” some tariffs when 10-year bond yields hit 4.5 per cent — we are back there again and longer-dated bond auctions are struggling to sell around the world.

    The argument is that the tax cuts will lead to stronger growth in the end. Some will take the view that this gives the US a longer-term growth story absent from Europe; others will think they heard this before from Kwasi Kwarteng.

    If you wish to let off steam about Trump and his diplomatic style, it would probably be no challenge to arrange a dinner party for like-minded guests. Then, in the morning, you can get back to investing in the best companies regardless of their country of origin.

    Simon Edelstest is a Fund Manager at Goshawk Asset Management

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  • Reeves outlines plan for £25bn pension ‘megafunds’

    Reeves outlines plan for £25bn pension ‘megafunds’

    Lucy Hooker

    Business reporter

    Getty Images Chancellor Rachel Reeves getting out of a cab outside Downing Street in May, wearing a maroon suit and carrying a handbag and red folderGetty Images

    The government has fleshed out its plans for reforming the UK pension industry, including the creation of £25bn “megafunds” which will be instructed to make a portion of their investments locally to help fuel economic growth.

    The chancellor said the overhaul, designed to follow the example of Australia and Canada’s huge pension investment funds, would also boost people’s pension pots.

    “These reforms mean better returns for workers and billions more invested in clean energy and high-growth businesses,” Rachel Reeves said.

    Seventeen of the UK’s largest pension firms already approved the gist of these reforms in a voluntary agreement earlier this month.

    However, the government is also including a legislative back-stop, which will allow it to push through the new rules, if insufficient progress is made by the end of the decade.

    The government has indicated it does not expect to use the new powers.

    Nevertheless, that element may draw criticism, with some in the industry opposed to any government mandate over how and where investments are made.

    “The challenge for investment into the UK has been finding good investments to make – and policy that may improve that supply side [is] probably just as important,” Chris Rule, chief executive of the Local Pensions Partnership, told BBC Radio 4’s Today programme.

    He added that most pension funds “invest in the UK and locally anyway”.

    Zoe Alexander, a director at the Pensions and Lifetime Savings Association, said the changes would have “significant implications” for how pension schemes operated.

    But she added: “Increased consolidation has the potential to improve retirement outcomes through improved governance, wider investment diversification and improved bargaining power.”

    Miles Celic, chief executive of The City UK, representing the financial services industry, backed the chancellor’s assertion that the move could “help drive economic growth”.

    A former Liberal Democrat pensions minister, Sir Steve Webb, who is now a partner at consultants LCP, described the news as “truly a red letter day for pension schemes, their members and the companies who stand behind them”.

    “The government has clearly been bold in this area and this opens up the potential for this surplus money to be used more productively to benefit scheme members, firms and the wider economy,” he added.

    One of Labour’s first moves after taking office last year was the announcement of a pension review.

    In November the chancellor floated her “megafunds” plan, which covers retirement savings for the majority of UK workers in two ways.

    Firstly, there are the 86 different local authority pension schemes, which provide for more than six million people in their retirement, the majority low-paid women. The £392bn in these defined benefit schemes will be merged in just six asset pools by March next year.

    In a defined benefit scheme a worker pays into their pension and is paid a pre-determined amount based on their salary and length of service.

    Local investment targets will be agreed for local authority pension schemes for the first time, the Treasury said.

    Secondly, defined contribution schemes currently worth £800bn, and covering millions of other private and public sector workers across the country, will also be consolidated.

    In defined contribution schemes workers are not guaranteed a specific amount. Instead their pension depends on the performance of the fund in the years before retirement.

    By 2030 the government says there should be more than 20 pension funds worth more than £25bn, in contrast to the current 10.

    As part of the voluntary agreement, known as the Mansion House accord, agreed earlier in May, the 17 firms involved committed to investing 10% of their assets in things other than publicly traded shares, so that more money would flow into homebuilding, infrastructure projects and start-up businesses in fast-growing sectors.

    In addition, 5% of investments will be earmarked to go into UK assets.

    The reforms will form part of the Pension Schemes Bill, about to go before Parliament.

    The new approach would mean over £50bn of additional investment in UK infrastructure, new homes and businesses, the Treasury said.

    On Thursday the government is publishing the final report from its Pensions Investment Review.

    It said the review found the reforms would drive higher returns for pension savers through cutting waste, economies of scale and improved investment strategies.

    As a result workers on average earnings could see a £6,000 boost to their defined contribution pension pot, the Treasury said.

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  • UK car making plunges to lowest for more than 70 years

    UK car making plunges to lowest for more than 70 years

    Imran Rahman-Jones

    Business reporter

    Getty Images A Range Rover sports utility vehicle (SUV) on the production lineat the Jaguar Land Rover automobile manufacturing plant in Solihull, UK, on Monday, April 7, 2025Getty Images

    The number of vehicles manufactured in the UK fell sharply last month, as US tariffs and the timing of Easter hit production.

    The 59,203 vehicles made was the lowest April output for more than 70 years, with the exception of 2020, when production effectively stopped during the Covid lockdown.

    The Society for Motor Manufacturers and Traders (SMMT) said a wider change in the industry as it shifts from petrol cars to electric vehicles (EVs) had also temporarily reduced output.

    However, new trade deals with the US, EU and India may help boost upcoming production, the industry group said.

    The April figure was 16% lower than the same month last year, and a quarter lower than March, when numbers were likely to have been boosted by manufacturers shipping more cars to the US before President Trump’s 25% tariff on steel, aluminium, and cars kicked in.

    On Wednesday, a US court blocked many of Trump’s tariffsbut the ruling does not apply to the tariff on steel, aluminium, and cars.

    British car maker Jaguar Land Rover (JLR) is paying 27.5% tariffs on everything it ships to the US, which it said is costing it “a huge amount of money”.

    The firm sends cars from its UK business to its US business – meaning it pays both export and import taxes on any cars it sends across the Atlantic.

    The company also said it is frustrated that the new deal agreed in early May between the UK and US to reduce tariffs on cars to 10% up to a quota of 100,000 vehicles is taking so long to come into effect.

    The fact that Easter fell in April this year, which meant there were fewer working days, was another reason car making fell, the SMMT said.

    The lowest April output before that – outside the pandemic – was back in 1952, when 53,517 vehicles were produced.

    Car production for exports fells by 10.1%, said the SMMT, driven by falls in demand from the UK’s biggest export markets the US and EU.

    The group said the total number of vehicles manufactured in the UK for the first four months of the year was the lowest since 2009.

    Nathan Coe, chief executive of online car seller Autotrader, said those exporting to the US have taken a bigger hit than the UK’s domestic market, which he says remains buoyant.

    “If you look at the UK market itself, actually, there’s been more new cars sold, more used cars sold. But if you look at manufacturing itself, because of those export impacts, those numbers are down,” he said.

    He added the UK could be seen as an attractive market for foreign automakers, as it has now become expensive to sell cars in the US.

    The SMMT’s figures show car production for the UK market was down by 3.3% in April compared to a year ago.

    Autotrader’s share price sank 12% early on Thursday as it reported a 5% bump in sales but warned of economics “uncertainties”.

    The downward trend in production is similar in other countries, said Prof Peter Wells, director of the Centre for Automotive Industry Research at Cardiff University.

    “There are concerns in Germany, Italy, France and Japan,” he told the BBC.

    “So I would emphasise that there is this bigger picture going on, and it’s not purely a UK phenomenon.”

    However, some of the global pressures may be stronger in the UK, Prof Wells said, such as fewer trade barriers against Chinese imports compared to the EU and US.

    The UK government’s change in policy over encouraging more manufacturing of EVs had also made planning more difficult for carmakers, he added.

    In April, the UK announced plans to relax sales targets for EVs and reduce fines for cars that do not meet certain emissions standards.

    In recent years, the UK has seen producers such as Honda and Ford shut down plants.

    Last year, Stellantis – which makes Vauxhall, Citroen and Peugeot cars – warned it may have to halt UK production due to uncertainty over the government’s approach to EVs.

    “What industry always wants is stability and clarity in policy, whether it’s tariffs or electrification or any other issue,” said Prof Wells.

    “For me at least, it remains a volatile environment in that sense.”

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  • Trump to double steel, aluminium tariffs; exporters worried

    Trump to double steel, aluminium tariffs; exporters worried

    U.S. President Donald Trump walks as workers react at U.S. Steel Corporation–Irvin Works in West Mifflin, Pennsylvania, U.S., May 30, 2025. REUTERS/Leah Millis
    | Photo Credit:
    LEAH MILLIS

    US President Donald Trump has said he plans to double tariffs on imported steel and aluminium to 50 per cent– a move that will further disrupt global steel business and hit Indian exports  worth over $7.5 billion “doubly hard”.

    “We’re going to bring it from 25 per cent to 50 per cent — the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States,” Trump said at a rally in Pennsylvania on Friday.

    The 50 per cent tariffs will also be applicable on aluminium and would come into effect from Wednesday (June 4), he later posted on his social media platform `Truth Social’.

    Value-added products

    Indian exporters of steel and aluminium products are not only concerned about the raised tariffs further hitting their business in the US but also about the fate of the  consignments already in transit, worth about $ 1 billion.

    “The doubling of US tariffs on steel and aluminium will not only affect exports of primary steel but also value-added products including auto components. Exporters are highly concerned about the items that have been already shipped and are in transit, worth about $1 billion, because these will now be subject to double the import duty than what was accounted for,” pointed out Ajay Sahai, trade expert and Director General of exporters’ body FIEO.

    The additional duties for the items in transit will also have to be largely borne by the exporters and 25 per cent duties was “huge money”, Sahai said, adding that exporters were now getting hit doubly hard.

    “It’s unfortunate that while the India-US BTA (bilateral trade agreement) negotiations are going on such unilateral tariff increases should be done. It only makes the work of the negotiators much more complicated. It will definitely impact engineering exports of about $5 billion,” said Pankaj Chadha, Chairman, EEPC India. A trade team from Washington is scheduled to visit New Delhi next week. for BTA negotiations.

    Trump’s latest announcement follows a US trade court pronouncement earlier this week that blocked his reciprocal tariffs (which were then temporarily re-instated by an appeals court) but did not touch sector-specific tariffs, including those on steel & aluminium and cars.

    India’s complaint at WTO

    India earlier filed a complaint at the World Trade Organisation (WTO) against the 25 per cent import duties on steel and aluminium imports by the Trump administration on March 12 and reserved its rights to retaliate. New Delhi said that despite Washington’s claims of national security considerations, the tariffs were safeguard measures imposed in violation of rules.

    “The safeguard measures would affect $ 7.6 billion imports into the United States of the relevan tproducts originating in India, on which the duty collection would be $ 1.91 billion,” India’s WTO submission noted. New Delhi proposed to suspend concessions on US goods of equivalent amount of duty at a later time.

    “With Trump now doubling the tariffs, it remains to be seen whether India will carry out the retaliation, by increasing tariffs on certain  US exports within a month,” said Ajay Srivastava of GTRI.

    Several countries have started reacting to Trump’s announcement of doubling of duties.  Australia said the increase in tariffs was unjustified and not the act of a friend. “They are an act of economic self-harm that will only hurt consumers and businesses who rely on free and fair trade,” Trade Minister Don Farrell said in a statement.

    Canada’s Chamber of Commerce said the tariff hike was “antithetical” to North American economic security. “Unwinding the efficient, competitive and reliable cross-border supply chains like we have in steel and aluminum comes at a great cost to both countries,” Candace Laing, President of the chamber, said in a statement.

    More Like This

    KENT NISHIMURA
    iStockphoto

    Published on May 31, 2025

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  • As courts block Trump tariffs, small business owners dare to hope : NPR

    As courts block Trump tariffs, small business owners dare to hope : NPR

    A federal court blocked President Trump’s sweeping tariffs on imports this week, but the administration has promised to appeal. The on-again-off-again import taxes have been a source of frustration for many businesses that don’t know what their costs will be from day to day.

    Jim Watson/AFP via Getty Images


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    Jim Watson/AFP via Getty Images

    Many American small-business owners have been riding a rollercoaster of tariff-related feelings: worry, confusion, anxiety, frustration.

    This week, there are new emotions.

    “I feel a lot of relief and hope,” says Sarah Wells, whose Virginia company sells breast-pump backpacks and other maternity accessories. In March, she had to find an extra $15,000 to receive her shipment from China – the last for now – which was traveling to the U.S. when the White House first raised tariffs.

    People walk past the U.S. Court of International Trade, Watson Courthouse, in lower Manhattan on Thursday.

    Now that two federal courts have ruled that President Trump had overstepped his authority in ordering the tariffs, Wells ponders the same question most of her peers are asking: Will they get that money back?

    But also, as the White House vows to appeal, there’s the perennial other thought: Is this simply the latest curve on the tariff rollercoaster?

    Stockpiling pet life jackets in the bathroom

    Barton O’Brien prepared for tariffs by stockpiling every space he had with leashes, harnesses and other pet supplies that he sells at hundreds of stores.

    “We had dog life jackets in the bathroom,” says O’Brien, a former Marine who now runs BAYDOG from Kent Island in Maryland. “Our warehouse was bursting. We had to rent a container and put it out back.”


    Barton O'Brien, shown with his dog Walter, runs the BAYDOG company, which sells harnesses, life-jackets and other pet supplies. He imports products from China, India and Vietnam, and double-digit tariffs have been challenging for his business.

    Barton O’Brien, shown with his dog Walter, runs the BAYDOG company, which sells harnesses, life-jackets and other pet supplies. He imports products from China, India and Vietnam, and double-digit tariffs have been challenging for his business.

    Barton O’Brien


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    Barton O’Brien

    Now, he’s been watching several businesses sue the Trump administration over tariffs after canceling some of his own orders for doggie sweaters.

    This photo shows the inside of DigiKey's warehouse, which is a cavernous facility filled with conveyor lines.

    He’d prepared for double-digit tariffs on China, but not on his shipments from suppliers in India and Vietnam. A threatened 26% tax on imports from India would have more than eclipsed his profit margin, so O’Brien canceled orders for much of what he planned to sell this fall. And for items he will sell next year? He’s gambling the tariffs will be lower in the months to come – maybe thanks to the Supreme Court taking up the tariff case.

    “The production cycle is very long. So you need to plan things six months, eight months out,” O’Brien says. “We don’t know what the tariff regime is going to be, but we have to at least get them made and then hopefully we get a favorable decision.”

    Court decisions paused for now

    Late Wednesday, the U.S. Court of International Trade struck down many of Trump’s tariffsruling in favor of 12 states and five businesses. The following day, a U.S. appeals court temporarily put that judgment on hold until the legal proceedings play out.

    Also on Thursday, a second federal court blocked Trump’s authority to unilaterally impose tariffs, ruling in favor of two Illinois toy importers.

    The White House has promised an appeal, defending its use of the 1977 law called the International Economic Emergency Powers Act, or IEEPA.

    “We expect to fight this battle all the way to the Supreme Court,” said spokeswoman Karoline Leavitt.

    President Trump hopes to encourage more U.S. manufacturing with his import taxes on foreign goods. But an online experiment suggests most people aren't willing to pay a premium for a

    In the meantime, businesses are left in the murky waters — hesitant to make more or ship more, unsure where to build factories or how high to raise prices.

    “I’m not planning to do anything right now,” says Rozalynn Goodwin from South Carolina, who sells patented double-snap hair barrettes called GaBBY Bows, made in China. “I don’t trust what’s going on right now, I just don’t.”

    Paying tariffs on $3.99 barrettes

    Goodwin is at a crossroads: Her firm had won a dream deal to supply GaBBY Bows to hundreds of Claire’s stores. But at one point, tariffs on her products stacked up to more than 170%. When the White House agreed in mid-May to temporarily lower tariffs on Chinese goods, Goodwin’s tariff bill fell to roughly 35% — still unaffordable for her business.

    “When you’re selling a product that is $3.99, every cent counts,” Goodwin says. “Every cent.”

    A worker walks by a Target store in New Jersey.

    She’s had to renegotiate the deal with Claire’s. Instead of new designs and colors, they’ll start with the barrettes Goodwin already has in the country. She’s continued looking for U.S.-based manufacturers, but their prices remain too high. What will she do when her inventory runs out?

    “I am hopeful that by the fall, you know, cooler heads are at work, and we can get to some type of resolution,” Goodwin says. “I’m going to make what we have work. Until I cannot make it work anymore.”

    Even if new court rulings ultimately stand and abolish Trump’s tariffs under the emergency law, the White House has other legal authorities to set import taxes. But they would likely be more limited in their scale than the worldwide tariffs targeted by this week’s rulings. For example, Section 232 of the Trade Expansion Act allows the president to impose tariffs to address national security threats, and Section 301 of the 1974 Trade Act allows import taxes to punish trade violations. Trump has used both powers in the past to impose tariffs on steel and aluminum imports and goods from China.

    Many sellers raise prices

    Sarah Wells, whose Sarah Wells Bags sells totes and breast milk coolers, has raised prices by 10% to 15% to offset some of her tariff expenses.

    She is one of many business owners that have done so. This week, cosmetics company e.l.f. said it’s raising all of its prices by $1 because of tariffs. Trump lashed out at Walmart earlier this month after the superstore warned of tariff-induced price increases.

    “I have just been squeezed from all ends,” Wells says. “The cost of shipping has gone up. The cost of boxes has gone up, shipping labels.”

    Last month, when tariffs on goods from China spiked to 145%, importers rushed to stash cargo in bonded U.S. warehouses, where they could temporarily avoid the levies. Then, when the 90-day truce dropped those tariffs to 30%, those same businesses raced to get their cargo out of warehouses and paid extra to ship additional goods.

    Wells had found a new manufacturer in Cambodia as a backup for China. But the Cambodian shipments will take time and likely won’t come until early 2026. So she’s watching the tariff lawsuits like a hawk, to decide whether to resume ordering from her China suppliers.

    “Until we get a little more clarity, the ultimate irony is we’re not going to see companies rushing to do much of anything, in terms of reshoring to the U.S. or moving out of China,” says Marc Busch, a trade law expert at Georgetown University. “No one knows what could be next. It could change in a heartbeat and that really is the big problem today.”

    That same uncertainty has rattled financial markets. Stocks have tumbled each time the president orders new tariffs, only to rebound when Trump backs off. The markets’ reaction to this week’s court rulings has been muted — as investors try to assess the legal and political road ahead.



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  • This 0 MacBook Air Handles Your Hustle Without Complaints

    This $200 MacBook Air Handles Your Hustle Without Complaints

    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    One thing to keep in mind when getting a laptop to support your professional needs is that not every job needs the latest M-series MacBook. If your goal is reliable performance, decent battery life, and that always-satisfying Apple experience—without obliterating your tech budget—this refurbished Apple MacBook Air 13.3″ (from 2017) might be exactly what you’re looking for.

    At just $199.97, it’s a compelling option for entrepreneurs, frequent flyers, remote teams, or anyone needing a no-fuss, high-functioning laptop. Whether you’re outfitting new hires, building a small remote team, or just need a travel-friendly workhorse for flights and coworking spaces, this deal checks all the right boxes.

    Powered by a 1.8GHz Intel Core i5 processor with 128GB SSD and Intel HD Graphics 6000, this MacBook Air can easily handle productivity apps, video calls, and browser-based work. The 13.3-inch Retina display (1440×900) gives you enough screen real estate for spreadsheets, docs, or Netflix—no judgment here.

    And with Wi-Fi, Bluetooth, and a 12-hour battery, you’ve got the flexibility to work wherever you find a signal and a seat.

    A business-savvy no-brainer

    Sure, it’s not the newest model, but at this price, it’s a smart choice for businesses that are looking to scale or support remote productivity without buying into another $1,000 machine. It’s also ideal as a reliable secondary laptop for traveling professionals who’d rather not risk their $2,000 daily driver at airport security. It’s been cleaned and inspected, and arrives with the possibility of some light scratching or minor blemishes.

    All in all, it’s a legit Apple laptop with great performance, for just $200. You’ll get what you need, save what you don’t, and maybe even impress a client or two with how resourcefully you roll.

    Get a top-quality refurbished Apple MacBook Air for just $199.97 (reg. $999) with free shipping when you order through July 20.

    Apple MacBook Air 13.3″ (2017) 1.8GHz i5 8GB RAM 128GB SSD Silver (Refurbished)

    See Deal

    StackSocial prices subject to change.

    One thing to keep in mind when getting a laptop to support your professional needs is that not every job needs the latest M-series MacBook. If your goal is reliable performance, decent battery life, and that always-satisfying Apple experience—without obliterating your tech budget—this refurbished Apple MacBook Air 13.3″ (from 2017) might be exactly what you’re looking for.

    At just $199.97, it’s a compelling option for entrepreneurs, frequent flyers, remote teams, or anyone needing a no-fuss, high-functioning laptop. Whether you’re outfitting new hires, building a small remote team, or just need a travel-friendly workhorse for flights and coworking spaces, this deal checks all the right boxes.

    Powered by a 1.8GHz Intel Core i5 processor with 128GB SSD and Intel HD Graphics 6000, this MacBook Air can easily handle productivity apps, video calls, and browser-based work. The 13.3-inch Retina display (1440×900) gives you enough screen real estate for spreadsheets, docs, or Netflix—no judgment here.

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  • Krishi Nivesh portal: Centre asks States to join online platform, share information to boost agri investment

    Krishi Nivesh portal: Centre asks States to join online platform, share information to boost agri investment

    Krishi Nivesh portal is a comprehensive platform designed to enhance agribusinesses, attract investments and improve farmers’ income
    | Photo Credit:
    RAGU R

    The government targets to bring in all schemes under various ministries of the Centre as well as States related to investment in the agriculture sector under one single window — the Krishi Nivesh portal. The agriculture ministry on May 29 had shared a note on the “concept, scope and features” of the Krishi Nivesh portal which was launched in September, 2024.

    State governments are yet to join the portal. Currently, schemes related to seven ministries — Agriculture & Farmers Welfare, Food Processing Industries, Rural Development, New and Renewable Energy, Jal Shakti, Chemicals & Fertilisers, and Fisheries Animal Husbandry and Dairying have been included on the portal. Other ministries which are to join the portal include Micro, Small & Medium Enterprises, Cooperation, Panchayati Raj, Commerce and Development of North Eastern Regions Department.

    In a circular, Sunil Kumar, an assistant commissioner in agriculture ministry, has requested all state governments and related ministries to identify the schemes/programmes/interventions being implemented by concerned department for promotion of investment in agriculture and allied activities. He has also requested the officials to share the requisite information for on-boarding on Krishi Nivesh portal on priority basis.

    Highlighting that sharing of information and regular updation is the key feature for the successful operationalisation of the portal, the ministry’s circular said: “The portal is a one-stop place for availing benefits promulgated by different Government departments and ministries in the agriculture sector. This is an open source, open standard and inter operable solution, powered by Business Intelligence (BI), Analytics and AI/ML.”

    Centralising investments, information

    Officials said that the Krishi Nivesh portal is expected to transform the agricultural landscape by centralising investment opportunities and information. It is a comprehensive platform designed to enhance agribusinesses, attract investments and improve farmers’ income and it also aligns with the vision of modernising agriculture through technological advancements and innovative practices.

    According to the ministry’s note, investment opportunities will be categorised, based on geography, schemes where investors/farmers/agri-start-ups can avail subsidy. Also, applicants and other stakeholders can track the status of their applications and seek necessary guidance from the relevant authorities.

    “This portal has been designed to streamline the investment process, making it more transparent and efficient. We have tried to simplify the process of understanding and choosing the best-fit scheme for each investor,” Kumar said adding it also enables users to submit DPRs digitally.

    Boosting private sector investments in Indian agriculture is essential for increasing productivity, improving infrastructure, enhancing value chains, and ensuring sustainability, officials said.

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  • Krishi Nivesh portal: Centre asks States to join online platform, share information to boost agri investment

    Krishi Nivesh portal: Centre asks States to join online platform, share information to boost agri investment

    Krishi Nivesh portal is a comprehensive platform designed to enhance agribusinesses, attract investments and improve farmers’ income
    | Photo Credit:
    RAGU R

    The government targets to bring in all schemes under various ministries of the Centre as well as States related to investment in the agriculture sector under one single window — the Krishi Nivesh portal. The agriculture ministry on May 29 had shared a note on the “concept, scope and features” of the Krishi Nivesh portal which was launched in September, 2024.

    State governments are yet to join the portal. Currently, schemes related to seven ministries — Agriculture & Farmers Welfare, Food Processing Industries, Rural Development, New and Renewable Energy, Jal Shakti, Chemicals & Fertilisers, and Fisheries Animal Husbandry and Dairying have been included on the portal. Other ministries which are to join the portal include Micro, Small & Medium Enterprises, Cooperation, Panchayati Raj, Commerce and Development of North Eastern Regions Department.

    In a circular, Sunil Kumar, an assistant commissioner in agriculture ministry, has requested all state governments and related ministries to identify the schemes/programmes/interventions being implemented by concerned department for promotion of investment in agriculture and allied activities. He has also requested the officials to share the requisite information for on-boarding on Krishi Nivesh portal on priority basis.

    Highlighting that sharing of information and regular updation is the key feature for the successful operationalisation of the portal, the ministry’s circular said: “The portal is a one-stop place for availing benefits promulgated by different Government departments and ministries in the agriculture sector. This is an open source, open standard and inter operable solution, powered by Business Intelligence (BI), Analytics and AI/ML.”

    Centralising investments, information

    Officials said that the Krishi Nivesh portal is expected to transform the agricultural landscape by centralising investment opportunities and information. It is a comprehensive platform designed to enhance agribusinesses, attract investments and improve farmers’ income and it also aligns with the vision of modernising agriculture through technological advancements and innovative practices.

    According to the ministry’s note, investment opportunities will be categorised, based on geography, schemes where investors/farmers/agri-start-ups can avail subsidy. Also, applicants and other stakeholders can track the status of their applications and seek necessary guidance from the relevant authorities.

    “This portal has been designed to streamline the investment process, making it more transparent and efficient. We have tried to simplify the process of understanding and choosing the best-fit scheme for each investor,” Kumar said adding it also enables users to submit DPRs digitally.

    Boosting private sector investments in Indian agriculture is essential for increasing productivity, improving infrastructure, enhancing value chains, and ensuring sustainability, officials said.

    More Like This

    The Indian government has slashed the effective import duty on crude edible oils such as palm, soybean, and sunflower to 16.5% from 27.5%, effective May 31.
    Kannur: People being rescued from a flooded area amid monsoon rains, in Kannur, Kerala

    Published on May 31, 2025

    Sumber

  • Q4 GDP springs surprise as tax spike fuels India’s best quarter in FY25: SBI

    Q4 GDP springs surprise as tax spike fuels India’s best quarter in FY25: SBI

    India’s economy delivered stronger-than-expected growth in the fourth quarter of FY25, largely due to a sharp rise in net indirect tax collections, according to a report by the State Bank of India.

    The report said that GDP grew by 7.4% in Q4 FY25, surprising observers with a performance driven by a 12.7% increase in net indirect taxes. This spike in tax revenue played a significant role in boosting overall economic activity during the quarter.

    “Q4 throws a pleasant surprise at 7.4 per cent buoyed by growth in net indirect taxes,” the report stated.
    SBI projected a positive outlook for the current financial year as well. It expects India to retain its position as the fastest-growing major economy in FY26, with GDP growth estimated between 6.3% and 6.5%.

    “We believe that the Indian economy is poised to remain the fastest-growing major economy in FY26 (GDP growth expected at 6.3-6.5 per cent),” it said.

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    The report highlighted that India’s growth momentum is likely to be sustained by strong macroeconomic fundamentals, a robust and healthy financial sector, and continued focus on long-term development goals. These elements are expected to help maintain stability even amid global uncertainty.GST revenue figures were cited as evidence of this momentum. In January 2025, gross GST collections reached ₹1.96 lakh crore, showing a 12.3% increase compared to the same month the previous year. In February, collections rose to ₹1.84 lakh crore, up 9.1% year-on-year. In March, GST collections again hit ₹1.96 lakh crore, registering a 9.9% annual increase, based on official data.Almost every sector reported improved performance in the fourth quarter. The services sector led the way with 7.3% growth in Q4. Within services, ‘Public administration, defence and Other Services’ grew by 8.7%, while ‘Financial, Real Estate & Professional Services’ rose by 7.8%. On a full-year basis, the services sector grew by 7.2% in FY25, compared to 9.0% in FY24.

    The SBI report also pointed to a rise in household savings, as seen in the latest annual report by the Reserve Bank of India. These higher savings are expected to support domestic investment and provide capital for growth without triggering inflation.

    As a result, SBI said it does not anticipate any major demand-driven price increases in FY26.

    The report concluded that despite the risk of external and geopolitical challenges, India appears well-positioned to maintain a stable and high-growth trajectory in the coming year.

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