Chinese Exporters Rush to Meet US Import Demand

The US-China trade truce last week sparked an immediate revival along one of the world's most important trade routes, and Guangdong-based supply chain manager Chen Lei was at the forefront.
Located in China's manufacturing hub, Chen suddenly found himself fielding calls from US customers who had just a month ago canceled orders, according to Bloomberg News reporting today from the region. They now wanted those requests filled and sent immediately, trying to beat the 90-day window as the two largest economies continue negotiations.

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Fox Sports

an hour ago

• Fox Sports

Qualifying Notes: Kyle Moyer Lands New Job with Arrow McLaren

INDYCAR Kyle Moyer's time as a free agent didn't last long. The veteran team manager who was one of three executives released last month by Team Penske has been hand-picked by Arrow McLaren Team Principal Tony Kanaan to join the Indianapolis-based NTT INDYCAR SERIES program. Moyer will be the organization's director of competition beginning with next week's test at Iowa Speedway. Kanaan and Moyer worked together for years at Andretti Global when Kanaan was a driver. Moyer was the team manager when Kanaan won the INDYCAR SERIES championship in 2004. Moyer left Michael Andretti's team in 2015 to join Roger Penske's organization. Moyer, along with Team President Tim Cindric and Managing Director Ron Ruzewski, were released by Team Penske in advance of the recent Indianapolis 500 presented by Gainbridge after the cars of defending champion Josef Newgarden and Will Power were found with unapproved modifications ahead of qualifying. At Arrow McLaren, Moyer will replace Kanaan as the race strategist for Nolan Siegel, allowing Kanaan to work with all three Arrow McLaren drivers on race weekends. Kanaan told the Associated Press that almost every team in the paddock tried to hire Moyer, but the relationship the two of them have gave McLaren the edge. 'Kyle is one of the best strategists in the paddock, so talking about his qualities, not just about him as a human being, he knows a lot about racing,' Kanaan told the AP. 'Kyle probably is one of the top guys of knowledge of INDYCAR. He's been around it his entire life.' Moyer grew up in Monrovia, Indiana, and was brought into the sport by the Bettenhausen family. Kirkwood Credits Decision Making to Surge Series points leader Alex Palou had the spotlight for most of the first half of the season. A dominant start featured five wins in six races, including an Indy 500 victory, and made him the undisputed championship favorite. But lately, Andretti Global's Kyle Kirkwood has turning heads – and is turning the title tide. Kirkwood has surged to third in the standings, 75 points behind Palou, thanks to wins in the only three races Palou hasn't claimed. Kirkwood had just two wins in his first 53 series races. He now has three wins in the past six races. 'I think he's always been there,' Colton Herta said of his teammate heading into Sunday's XPEL Grand Prix at Road America Presented by AMR (1:30 p.m. ET, FOX, FOX Deportes, FOX Sports app, INDYCAR Radio Network). 'Maybe he's gotten a little bit better at how to race and when to go fast in races, and that just comes (with experience). But I think he's driving pretty similar to last year. He just had bad luck with penalties last year.' Kirkwood agrees the difference isn't raw speed but decision making. He cited last year's fifth-place finish at Road America as an example of when pushed too hard early in the race trying to stave off eventual third-place finisher Scott McLaughlin. The effort backfired and opened the door for McLaughlin and Palou to pass. 'I realized later it was inevitable,' Kirkwood said. 'I pushed too hard too early.' We'll see what he learned from last year. Dixon Penalized for Impeding DeFrancesco Six-time series champion Scott Dixon said he was trying to create a gap to maximize his chances of advancing in qualifying, but race officials said Dixon impeded the hot lap of Rahal Letterman Lanigan Racing's Devlin DeFrancesco during the first round of qualifying. The penalty proved costly to the Chip Ganassi Racing veteran. Rather than advancing to the Fast 12 and perhaps earning a top-10 starting position, Dixon lost his two fastest laps and was reduced to the 25th starting position. Only three times in his career has he started farther back, including 26th earlier this year in the Children's of Alabama INDYCAR Grand Prix at Barber Motorsports Park. He finished 12th in that race. 'It is what it is, man,' he said in ending an interview with FOX's Kevin Lee on pit road. recommended

Yahoo

an hour ago

• Yahoo

Top economist who previously sounded the alarm on tariffs sees a possible scenario where Trump ‘outsmarted all of us'

Torsten Sløk, chief economist at Apollo Global Management, laid out a potential scenario where President Donald Trump's tariffs are extended long enough to ease economic uncertainty while also providing a significant bump to federal revenue. That comes as the 90-day pause on Trump's 'reciprocal tariffs' is nearing an end. Businesses and consumers remain in limbo over what will happen next with President Donald Trump's tariffs, but a top economist sees a way to leave them in place and still deliver a 'victory for the world.' In a note on Saturday titled 'Has Trump Outsmarted Everyone on Tariffs?', Apollo Global Management Chief Economist Torsten Sløk laid out a scenario that keeps tariffs well below Trump's most aggressive rates long enough to ease uncertainty and avoid the economic harm that comes with it. 'Maybe the strategy is to maintain 30% tariffs on China and 10% tariffs on all other countries and then give all countries 12 months to lower non-tariff barriers and open up their economies to trade,' he speculated. That comes as the 90-day pause on Trump's 'reciprocal tariffs,' which triggered a massive selloff on global markets in April, is nearing an end early next month. The temporary reprieve was meant to give the U.S. and its trade partners time to negotiate deals. But aside from an agreement with the U.K. and another short-term deal with China to step back from prohibitively high tariffs, few others have been announced. Meanwhile, negotiations are ongoing with other top trading partners. Trump administration officials have been saying for weeks that the U.S. is close to reaching deals. On Saturday, Sløk said extending the deadline one year would give other countries and U.S. businesses more time to adjust to a 'new world with permanently higher tariffs.' An extension would also immediately reduce uncertainty, giving a boost to business planning, employment, and financial markets. 'This would seem like a victory for the world and yet would produce $400 billion of annual revenue for US taxpayers,' he added. 'Trade partners will be happy with only 10% tariffs and US tax revenue will go up. Maybe the administration has outsmarted all of us.' Sløk's speculation is notable as he previously sounded the alarm on Trump's tariffs. In April, he warned tariffs have the potential to trigger a recession by this summer. Also in April, before the U.S. and China reached a deal to temporarily halt triple-digit tariffs, he said the trade war between the two countries would pummel American small businesses. More certainty on tariffs would give the Federal Reserve a clearer view on inflation as well. For now, most policymakers are in wait-and-see mode, as tariffs are expected to have stagflationary effects. But a split has emerged. Fed Governor Christopher Waller said Friday that economic data could justify lower interest rates as early as next month, expecting only a one-off impact from tariffs. But San Francisco Fed President Mary Daly also said Friday a rate cut in the fall looks more appropriate, rather than a cut in July. Still, Sløk isn't alone in wondering whether Trump's tariffs may not be as harmful to the economy and financial markets as feared. Chris Harvey, Wells Fargo Securities' head of equity strategy, expects tariffs to settle in the 10%-12% range, low enough to have a minimal impact, and sees the S&P 500 soaring to 7,007, making him Wall Street's biggest bull. He added that it's still necessary to make progress on trade and reach deals with big economies like India, Japan and the EU. That way, markets can focus on next year, rather near-term tariff impacts. 'Then you can start to extrapolate out,' he told CNBC last month. 'Then the market starts looking through things. They start looking through any sort of economic slowdown or weakness, and then we start looking to '26 not at '25.' This story was originally featured on

Miami Herald

2 hours ago

• Miami Herald

JetBlue is pulling out of the Miami airport, but will remain at FLL. See details

JetBlue Airways will halt service at Miami International Airport, the airline said on Saturday. The Long Island City-based carrier cited poor financial performance. JetBlue has a small footprint at MIA, with one or two daily flights between MIA and Boston. But 'to free aircraft for new routes, we've recently made the decision to end a small number of unprofitable flights including between Boston and Miami,' Derek Dombrowski, director of corporate communications, said in an email statement sent to the Miami Herald. The changes are effective Sept. 3, he said. Travelers booked on cancelled flights 'will have the option to fly via Fort Lauderdale or receive a full refund to their original form of payment,' Dombrowski said. The move was a business decision. 'We continually evaluate how our network is performing and make changes as needed,' Dombrowski said. JetBlue informed MIA of the changes on Friday, Greg Chin, communications director for Miami-Dade Aviation Department, said in a phone call with the Miami Herald on Saturday. He didn't elaborate on other details. JetBlue's Fort Lauderdale presence JetBlue will continue to fly to Boston from nearby Fort Lauderdale-Hollywood International Airport as well as West Palm Beach, Dombrowski said. The airline has a strong presence at FLL. In 2024, JetBlue served about 6.8 million passengers at FLL, down 2.1% from 2023 but still the second largest carrier at that airport, only behind Spirit. It carried 19% of all travelers to and from the Broward County airport. This year, JetBlue remains FLL's second largest carrier. Through April 30, the airline had 2.2 million passengers, even though that's down 6% from the same period in 2024. In 2021, to make a larger bet on South Florida as the COVID-19 pandemic was still in full force, JetBlue expanded at MIA, adding as many as 14 daily flights, including as many as four times a day to Boston. The airline also added direct flights between MIA and New York-JFK, Newark, Los Angeles and Hartford. Since then, JetBlue has scaled back service in Miami due to falling demand. It was also slowed down by the 2024 ruling of a federal judge in Massachusetts that blocked an attempted merger with Broward-based Spirit, citing anti-competitive laws. On Saturday, JetBlue had a total of two arrivals at MIA, each one from Boston, according to the airport's flight tracker. And it had one departure, also to Boston.