Regionally, Berman said total U.S. fourth-quarter business declined 7.8% to $86.2 million, which the company attributed to the higher tariff burden. He said higher retail prices led to slower sell-through in the second half and “lower fourth quarter replenishment,” though fourth-quarter FOB sales to the U.S. were positive year-over-year and helped offset some weakness. Outside the U.S., fourth-quarter sales rose 9.9% to $41 million, with Europe roughly flat and Latin America up significantly after a softer ...

Core Insights - Payments made by U.S.-based midsize businesses to firms in China dropped by approximately 20% from 2024 to 2025 due to increased tariffs on Chinese imports under the Trump administration [1][2] - The effective tariff rate on Chinese imports reached 37.4% in October 2025, making China the most affected among major U.S. trade partners [2] - Monthly tariff payments by midsize U.S. businesses tripled from nearly $100 billion in early 2025 to about $300 billion by the end of 2025, indicating a significant increase in costs due to tariffs [14][15] Payment Trends - Midsize firms that previously made payments to China redirected their outflows to other parts of Asia, including Southeast Asia, Japan, and India [3] - The increase in outflows to these regions may be attributed to import substitution, although other factors could also be influencing this trend [3] Tariff Impact - The sharp increase in tariff payments began in April 2025, coinciding with the implementation of the first tariff rate increases of that year [15] - The total payments continued to rise throughout 2025, reaching levels three times higher than those recorded in early 2025 [15] Transshipment Concerns - There are indications that Chinese products may be shipped to neighboring countries, modified, and then sent to the U.S. to circumvent tariffs [5][7] - Rising imports from Vietnam and Taiwan are seen as potential sources of transshipped goods, with Taiwanese producers possibly rerouting goods to avoid high tariffs on Chinese products [10][11]

Market Overview - The S&P 500 experienced a decline of approximately 0.6%, primarily driven by a drop in big tech stocks, which fell about 0.7% [1][2] - The VIX index is trading with a 20 handle, indicating increased market volatility [1] - The 10-year Treasury yield is currently at 4.07% [2] Geopolitical and Economic Factors - U.S. military buildup in the Middle East has raised speculation about a potential attack on Iran, dampening market sentiment [2][3] - The trade deficit in the U.S. has reached its widest level in modern history, with tariffs failing to narrow it or boost domestic manufacturing [4][36] Company-Specific Insights - Blue Owl, an asset manager, has faced investor withdrawals from one of its private credit funds, negatively impacting its stock and those of peers like Apollo, Blackstone, and KKR [3] - CRH, a building materials giant, reported adjusted revenue in line with estimates and is actively involved in over 100 data center projects across the U.S., indicating strong demand in this sector [19][21] Investment Strategies and Trends - There is a focus on diversifying within the AI theme, with an emphasis on AI infrastructure as a key area for growth [10][11] - Emerging markets (E.M.) are being considered as a source of diversification and earnings growth, with significant inflows noted [11][12] - Companies are advised to invest in defensive AI sectors, such as semiconductors and hardware, to mitigate risks in the current market environment [15][16] Economic Outlook - The upcoming GDP report is expected to show strong growth, with significant investment in the economy contributing to this outlook [36][40] - Wage growth has been broad-based, particularly in manufacturing, indicating a positive economic trajectory [44][50] Corporate Actions and Market Reactions - Bank of America plans to commit $25 billion to private credit deals, reflecting a strategic shift in its investment approach [34] - Walmart's shares have seen a decline despite strong performance, attributed to cautious earnings forecasts amid a challenging economic backdrop [67][70]

US stocks rose on Friday after the Supreme Court ruled that President Trump's sweeping "Liberation Day" tariffs are unlawful, saying he lacked the authority to impose them using emergency powers. The S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) both moved up 0.4%, coming off the end of a three-day winning streak on Thursday. The tech-exposed Nasdaq Composite (^IXIC) led the way higher, rising 0.6%. Stocks reversed course on the heels of the decision, having slid at the open as investors d ...

ICU Medical (NasdaqGS:ICUI) Q4 2025 Earnings call February 19, 2026 04:30 PM ET Speaker7Good day, and welcome to the ICU Medical, Inc., fourth quarter 2025 earnings conference call. All participants will be in a listen-only mode. After today's presentation, there will be an opportunity to ask questions. Please note, today's event is being recorded. I'd like to now turn the conference over to John Mills. Please go ahead, sir.Speaker4Good afternoon, everyone. Thank you for joining us to discuss ICU Medical's ...

showing the trade deficit surging in December. This is important too. 70 billion up 33% from November.Let's discuss it all with David Zervos. He's the chief market strategist at Jeffre. David, it's great to see you.I mean, is it bad. I kind of want to talk trade deficit a little bit. Like it's was that just a one-mon aberration.What's going on here. >> I think look, I've never gotten very excited about one month or even three months of data. I think you need to see the trend and the trend has been that uh t ...

U.S. firms paid triple in tariffs in 2025, says JPMorganChase report - Fast CompanyLOGIN[SUBSCRIBE]- [INNOVATION FESTIVAL]- [Video]- [Podcasts]- [Games]- [Work Life]- [Leadership]- [News]- [Design]- [Tech]- [Premium]|[Custom Studio]- [Texas A&M University]- [IBM]BY [Associated Press]Listen to this Article [More info]0:00 / 0:00[Tariffs] paid by midsized U.S. businesses tripled over the course of last year, new research tied to one of America's leading banks showed on Thursday — more evidence that President ...

Kent Smetters, faculty director of the Penn Wharton Budget Model, is challenging the narrative that tariffs are a tool for protecting domestic industry. In a recent interview with Fortune, Smetters held forth on what he said was his long-held view that broad-based tariffs are a “dirty VAT” (value-added tax)—a policy he believes is significantly more damaging to the U.S. economy than traditional tax increases. While economists generally view a broad-based, flat VAT as an efficient method for raising gove ...

Fox. Joining us right now is a twotime Nobel Prize winning economist Joseph Stiglets. He's the author of The Road to Freedom, Economics, and The Good Society.And the new paperback edition is out next week. And we're thrilled to have you back uh on the broadcast. And eating a donut, no less >> and wondering about inelasticity if you can.$50 for a dozen donuts maybe. So that that's >> So we were just having a conversation with Joe Leavo about the economy and I'm curious just from your perspective, how you see ...

A Chinese flag flutters at top of a building of China Customs, at a terminal of the Yantian port in Shenzhen, Guangdong province, China October 30, 2025.The U.S. trade deficit swelled in December, closing out a year in which the imbalance was essentially unchanged despite efforts by the Trump administration to close the wide gap.Closing out a tumultuous year in the global marketplace, the goods and services shortfall in December totaled $70.3 billion, the Commerce Department reported Thursday. That marked a ...