Vietnam's Top Leader Plans US Trip as Tariff Deadline Looms

Vietnam's Communist Party chief To Lam is preparing to travel to the US in coming weeks as the two sides look to clinch a trade deal before President Donald Trump's higher tariffs kick in, according to people familiar with the matter.
Lam aims to meet Trump to help finalize an agreement, the people said, asking not to be identified as the trip isn't finalized yet. It's unclear what date the party chief will travel, although preparations are being made for him to be there in the next few weeks, they said.

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• CBS News

$200,000 home equity loan vs. $200,000 HELOC: Which is less expensive now?

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. Before borrowing hundreds of thousands of dollars worth of home equity, owners should calculate their potential repayment costs. Getty Images/iStockphoto The average home equity level has been consistently rising in recent years, and according to recent reports, it has remained at a steadily high level. The cumulative home equity level in the United States hit a record high of $17.6 trillion in the first quarter of 2025, based on a report released earlier in June. The average homeowner, meanwhile, has over $300,000 worth of equity that they can borrow from with a home equity loan or home equity line of credit (HELOC). Accounting for the 20% equity threshold many lenders prefer borrowers maintain in their home at all times, that still leaves more than $200,000 worth of equity to utilize right now. And with inflation stubborn, if significantly cooled, interest rates still high and economic concerns broad now, this could be one of the better ways to borrow a large, six-figure sum of money. To ensure borrowing success, however, which is critical when utilizing your home as the funding source, you should first calculate your potential repayment costs. Failure to pay here could result in your home being foreclosed on. So you'll want to know exactly what you'll pay long term. And with rates on home equity loans and HELOCs different, both in how high they are and how they're structured, it's particularly important to compare the potential costs of both before getting started. But which is less expensive now: a $200,000 home equity loan or a $200,000 HELOC? That's what we'll examine below. Start by seeing how much home equity you could potentially borrow here. $200,000 home equity loan vs. $200,000 HELOC: Which is less expensive now? In June 2025, the repayment costs of a home equity loan and HELOC, no matter the amount borrowed, are essentially the same. With the median home equity loan rate at 8.25% and the average HELOC rate at 8.25%, you won't see a material difference in repayments right now. But that's this month, not long-term. Since home equity loan rates have fixed rates that won't change until refinanced and HELOCs have variable rates that change over time, this similarity is not likely to stay consistent. Here's what they would look like calculated against 10- and 15-year repayment periods now, assuming the HELOC rate remains unchanged: 10-year home equity loan at 8.25%: $2,453.05 per month $2,453.05 per month 15-year home equity loan at 8.25%: $1,940.28 per month 10-year HELOC at 8.27%: $2,455.18 per month $2,455.18 per month 15-year HELOC at 8.27%: $1,942.61 per month And here's how they would compare if HELOC rates decline by 25 basis points during this time: 10-year home equity loan at 8.25%: $2,453.05 per month $2,453.05 per month 15-year home equity loan at 8.25%: $1,940.28 per month 10-year HELOC at 8.02%: $2,428.67 per month $2,428.67 per month 15-year HELOC at 8.02%: $1,913.61 per month And here's what they would look like if HELOC rates rise by 25 basis points from today's averages: 10-year home equity loan at 8.25%: $2,453.05 per month $2,453.05 per month 15-year home equity loan at 8.25%: $1,940.28 per month 10-year HELOC at 8.52%: $2,481.85 per month $2,481.85 per month 15-year HELOC at 8.52%: $1,971.82 per month In short, a $200,000 home equity loan is marginally less expensive than a $200,000 HELOC is now. But that dynamic can and almost assuredly will change over a multiple-year repayment period. Borrowers will need to weigh those changes, then, against what they can lock in with a fixed home equity loan rate instead. And remember that home equity loans and HELOCs can always be refinanced in the future, should the rate climate or your borrowing needs change, so don't get too focused on long-term rate change scenarios, either. Compare your HELOC and home equity loan rate offers here to learn more. The bottom line $200,000 home equity loans and HELOCs come with similar payments now but they may not stay that way for very long, thanks to the latter's variable rate. That noted, HELOCs come with interest-only payment requirements for borrowers who want to utilize their equity that way during the draw period, so interest rates may be less of a concern than they'd be with a home equity loan which requires full monthly repayments immediately thanks to the disbursement of the funds in a single, lump sum. Compare both options carefully before getting started, then, to better ensure borrowing success both now and in the years to come.

CNBC

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Tesla inks first deal to build China's largest grid-scale battery power plant

Tesla has inked its first deal to build a grid-scale battery power plant in China amid a strained trading relationship between Beijing and Washington. The U.S. company posted on the Chinese social media service Weibo that the project would be the largest of its kind in China when completed. Utility-scale battery energy storage systems help electricity grids keep supply and demand in balance. They are increasingly needed to bridge the supply-demand mismatch caused by intermittent energy sources such as solar and wind. Chinese media outlet Yicai first reported that the deal, worth 4 billion yuan ($556 million), had been signed by Tesla, the local government of Shanghai and financing firm China Kangfu International Leasing, according to the Reuters news agency. Tesla said its battery factory in Shanghai had produced more than 100 Megapacks — the battery designed for utility-scale deployment — in the first quarter of this year. One Megapack can provide up to 1 megawatt of power for four hours. "The grid-side energy storage power station is a 'smart regulator' for urban electricity, which can flexibly adjust grid resources," Tesla said on Weibo, according to a Google translation. This would "effectively solve the pressure of urban power supply and ensure the safe, stable and efficient electricity demand of the city," it added. "After completion, this project is expected to become the largest grid-side energy storage project in China." According to the company's website, each Megapack retails for just under $1 million in the U.S. Pricing for China was unavailable. The deal is significant for Tesla, as China's CATL and carmaker BYD compete with similar products. The two Chinese companies have made significant inroads in battery development and manufacturing, with the former holding about 40% of the global market share. CATL was also expected to supply battery cells and packs that are used in Tesla's Megapacks, according to a Reuters news source. Tesla's deal with a Chinese local authority is also significant as it comes after U.S. President Donald Trump slapped tariffs on imports from China, straining the geopolitical relationship between the world's two largest economies. Tesla Chief Executive Elon Musk was also a close ally of President Trump during the initial stages of the trade war, further complicating the business outlook for U.S. automakers in China. The demand for grid-scale battery installation, however, is significant in China. In May last year, Beijing set a new target to add nearly 5 gigawatts of battery-powered electricity supply by the end of 2025, bringing the total capacity to 40 gigawatts. Tesla has also been exporting its Megapacks to Europe and Asia from its Shanghai plant to meet global demand. Capacity for global battery energy storage systems rose 42 gigawatts in 2023, nearly doubling the total increase in capacity observed in the previous year, according to the International Energy Agency.

Washington Post

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EV Quiet Streets TROUBLESHOOT

RFK Jr. has big plans for your food. Here are the facts. May 2, 2025