🚀 US exports and imports crashing

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Trump’s sweeping tariffs have triggered a sharp downturn in both U.S. exports and imports, with nearly all export sectors—especially agriculture—now impacted, according to supply chain data. Soybeans, corn, and beef exports are plummeting as ports like Oregon (-51%) and Tacoma (-28%) see steep drops, while overall U.S. imports fell 43% in the last week of April. With container volumes dropping, supply chain job losses loom, and retailers face lean inventories heading into the holiday season. Shipping firms like Matson are slashing outlooks, warning the slump may persist unless tariffs are lifted or renegotiated.

2. Ford beat Q1 expectations but suspended its full-year 2025 guidance as Trump’s tariffs are projected to cost the company $2.5 billion this year—only $1 billion of which Ford expects to offset. While Ford is less exposed than GM (which expects $4–$5 billion in tariff costs), the 25% tariffs on vehicles and non-USMCA-compliant parts have already led to revenue drops and halted U.S. exports to China. Ford reported a 5% revenue decline year-over-year, with steep EBIT drops in both its Blue and Pro divisions, though its EV unit narrowed losses. The automaker plans to reassess guidance after Q2.

3. Ferrari posted a 17% jump in Q1 net profit to €412 million ($466M USD), driven by strong demand for personalized vehicles, despite nearly flat global shipments. Revenue rose 13% to €1.79 billion, and the company reaffirmed its 2025 guidance, forecasting over €7 billion in revenue. However, Ferrari warned that new 25% U.S. import tariffs on EU cars—part of President Trump’s trade policy—could shave 50 basis points off its profit margins. In response, Ferrari has raised U.S. prices by up to 10%, or $50,000 on some models, to offset the impact.

4. Headlines

   1. The odds of a recession in the next year, according to the CNBC Fed Survey, have risen from 22% in January to 53%.

   2. Fed Chair Jerome Powell claimed that tariffs are impacting the lowering of inflation which will delay future rate cuts.

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