Michele Schneider, partner and director of trading research & education for MarketGauge.com, joined Cheddar News to discuss the market after stocks closed lower again as banking concerns continue.
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US businesses that rely on Chinese imports express relief and anxiety
American businesses that rely on Chinese goods are reacting with muted relief after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days. Many companies delayed or canceled orders after President Donald Trump last month put a 145% tariff on items made in China. Importers still face relatively high tariffs, however, as well as uncertainty over what will happen in the coming weeks and months. The temporary truce was announced as retailers and their suppliers are looking to finalize their plans and orders for the holiday shopping season. They’re concerned a mad scramble to get goods onto ships will lead to bottlenecks and increased shipping costs.
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Expedia cites lower demand for US travel for weaker revenue
Travel technology company Expedia Group says reduced travel demand in the United States led to its weaker-than-expected revenue in the first quarter.
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