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Automotive Steering Wheel Switch Market : USD 1.8 Billion In 2022 To USD 2.2 Billion By 2032 CAGR Of 2.3%None
Close aides of CM calling shots, says Tejashwi; JD(U) hits backThe One Show hosts stunned as Tony Blackburn gives just three words of advice to I'm A Celeb starsA Glen Burnie man was charged with a felony Sunday after authorities reviewed a TikTok video “clearly” showing him burning the words “TRUMP” and “USA” onto the road outside his home, according to the Maryland Judiciary. An investigator with the Anne Arundel County Fire Marshal Division wrote in charging documents that Craig Philip McQuin used an illegal flamethrower to spell out the two words. Maryland law considers flamethrowers “destructive devices,” akin to a bomb, and bans their possession and use in the state. A summons for McQuin, 35, to appear before a judge was issued Sunday, though a date was not specified in the court record. As of Monday morning, it had not yet been served. Attempts to contact McQuin using a phone number listed in public records were unsuccessful. Fire investigators responded Nov. 15 to a vandalism complaint in the Creekside Village community. According to charging documents, the burn marks were in the middle of the road, making the affected area “noticeably darker.” Authorities described the marks as between 15 and 20 feet in length and approximately 5 feet in width, according to charging documents. A police officer at the scene learned the incident had been captured on video and uploaded the online video after speaking with the community’s homeowner association, investigators said. After identifying McQuin as the property owner, fire officials watched the TikTok published on his wife’s account. Unlike her other social media pages, McQuin’s wife’s TikTok account does not focus on politics, but is largely dedicated to two pigs she cares for. One photo carousel, however, shows a wooden structure being built outside the White House. “Things are about to get spooky...Hang them all!” she posted on Halloween. As of Monday, the flamethrower video could no longer be seen on the wife’s TikTok page. It also did not appear on a Truth Social account with the same username. Truth Social was launched in 2022 by President Donald Trump after Facebook and Twitter banned him in the wake of the Jan. 6, 2021, attack on the U.S. Capitol. When Twitter, which now operates as X, was bought by Elon Musk, Trump’s account was reinstated. Facebook similarly ended its ban last year. Authorities wrote in charging documents that the flamethrower McQuin used can be purchased in every state except for Maryland. According to the manufacturer’s website, though the device used in Glen Burnie was a “long range torch,” capable of pushing fire 25 feet, flamethrowers are “outright prohibited” in Maryland. McQuin was charged with a felony for possession of a destructive device, court records show, and also two misdemeanors: second-degree malicious burning, and malicious destruction of property valued at $1,000 or higher. According to charging documents, road repairs ost $5,500. The maximum penalty for the felony is 25 years in prison, according to state sentencing guidelines . The alleged vandalism was investigated 10 days after the 2024 election, in which Trump became the second politician in American history to be elected to two nonconsecutive presidential terms. Though 63% of Maryland voters supported Vice President Kamala Harris, the Democratic candidate in the November election, approximately 55% of Anne Arundel County voters backed her, according to the state Board of Elections. More than 41% of county voters voted for Trump, a nearly identical figure to 2020, when Trump, then the incumbent, lost to Joe Biden. Have a news tip? Contact Luke Parker at lparker@baltsun.com , 410-725-6214, or on X @lparkernews .
British-Canadian computer scientist Geoffrey Hinton and co-laureate John Hopfield are set to receive the Nobel Prize for physics on Tuesday in Stockholm. The pair landed the accolade because they used physics to develop artificial neural networks, which help computers learn without having to program them. These networks form the foundation of machine learning, a computer science that relies on data and algorithms to help artificial intelligence mimic the human brain. Hinton and Hopfield’s path to the Nobel began when Hopfield, who is now a professor emeritus at Princeton University, invented a network in 1982 that could store and reconstruct images in data. The Hopfield network uses associate memory, which humans use to remember what something looks like when it’s not in front of them or to conjure up a word they know but seldom use. The network can mirror this process because it stores patterns and has a method for recreating them. When the network is given an incomplete or slightly distorted pattern, the method then searches for the stored pattern that is most similar to recreate data. This means if a computer was shown, for example, a photo of dog where only part of the animal was visible, it could use the network to piece together the missing part of the image and recognize it was depicting a dog. Hinton, who was working at Carnegie Mellon University in Pittsburgh in 1985, used the Hopfield network as the foundation for a new network he called the Boltzmann machine. Its name came from the nineteenth-century physicist Ludwig Boltzmann. The Boltzmann machine learns from examples, rather than instructions, and when trained, can recognize familiar characteristics in information, even if it has not seen that data before. The Royal Swedish Academy of Sciences, which gives out the Nobel, likens this to how humans may be able to identify someone as a relative of one of their friends, even if they’ve never met this person before, because of they share similar traits. The Boltzmann machine works in a similar way, classifying images or creating new examples based on the patterns it was trained on. This kind of technology can help suggest films or television shows based on a user’s preferences and past viewing history The Hopfield network and Boltzmann machine are considered to have laid the groundwork for modern AI. Hinton, a professor emeritus at the University of Toronto, went on to win the A.M. Turing Award, known as the Nobel Prize of computing, with fellow Canadian Yoshua Bengio and American Yan LeCun in 2018. He is often called the godfather of AI. This report by The Canadian Press was first published Dec. 8, 2024. Tara Deschamps, The Canadian Press
UConn announced a two-year contract extension for head football coach Jim Mora on Saturday, just before the team took the field for the Fenway Bowl against North Carolina. Mora’s contract extension will run through 2028 and will pay him $10 million through the remaining four years, with the opportunity to earn more in incentives. The 63-year-old coach is set to make $1.7 million next season, $1.9 million in 2026 and $2.3 and $2.4 million in 2027 and 2028, respectively. UConn then went out and thrashed North Carolina, 27-14, in a game that wasn’t as close as the score indicated. “I am forever grateful. I’m grateful to (athletic director) David (Benedict) and (school president) Radenka (Maric) and the Board of Trustees, but this is about what the (UConn players) did today,” Mora said when asked about the extension in the postgame press conference. In a statement released by UConn ahead of the game, Mora said: “I’d like to thank David Benedict, Radenka Maric and the University of Connecticut leadership for their trust in me and their commitment to our football program. When I first got here, I talked about where we wanted this program to go and we have shown great progress but we still have plenty of work to do. The commitment and dedication from the university and the athletic department has me excited about the future for our football team.” “Three years ago, I tasked Jim Mora with the challenge of leading our football team back to success and through his experience, energy and leadership he has done just that,” UConn athletic director David Benedict said in a statement. “He has taken our program to post season bowl games twice and just guided our team to one of the best seasons in UConn football history, building a momentum to keep this program moving forward. I look forward to his leadership of our football team in the years ahead.” Mora is coming off one of the most successful seasons in UConn football history, having led the team to an 8-4 record and an appearance in the Fenway Bowl. It’s the Huskies’ second bowl appearance in three years. UConn’s eight wins is the most for the program since 2010, and the Huskies had their first winning season since that year, too. A win Saturday would give UConn nine wins for just the third time in program history, with the last two such seasons coming in 2003 and 2007. UConn quarterbacks coach Brad Robbins is heading to Tulsa as an offensive coordinator and quarterbacks coach, according to a report from CBS Sports. Robbins was part of a coaching staff that helped the offense produce its most prolific attack since the 2009 season and fifth-most in program history (32.3 points per game). Robbins worked at FCS Tennessee Tech and Division II North Greenville before joining Jim Mora’s staff in spring 2023. Get local news delivered to your inbox!
Agreement includes collaborative research and development centered on Honeywell Anthem avionics, selection of more powerful engines, and next-generation satellite communications technologies for Bombardier aircraft Aftermarket offerings and new technologies provide Honeywell revenue potential of up to $17 billion over life of agreement All legacy pending litigation between the companies has been resolved CHARLOTTE, N.C. , Dec. 2, 2024 /PRNewswire/ -- Honeywell (NASDAQ: HON ) announced the signing of a strategic agreement with Bombardier, a global leader in aviation and manufacturer of world-class business jets, to provide advanced technology for current and future Bombardier aircraft in avionics, propulsion and satellite communications technologies. The collaboration will advance new technology to enable a host of high-value upgrades for the installed Bombardier operator base, as well as lay innovative foundations for future aircraft. Honeywell estimates the value of this partnership to the company at $17 billion over its life. "This is a tremendous opportunity to co-innovate and advance next generation technologies, including Anthem avionics and engines," said Vimal Kapur , Chairman and CEO of Honeywell. "Growing our long-term collaborative relationship with Bombardier is directly connected to Honeywell's focus on compelling megatrends -- automation, the future of aviation, and energy transition." "This new partnership creates unprecedented opportunities for Bombardier," said Eric Martel , President and Chief Executive Officer of Bombardier. "Honeywell's differentiated technology is the key reason we decided to collaboratively build a bright future with them." Honeywell and Bombardier will collaborate on the development of Honeywell avionics to provide unparalleled adaptability to specific mission requirements, enabling exceptional situational awareness and enhanced safety. In addition, the collaboration's propulsion-based workstreams will focus on evolutions of power, reliability and maintainability, led by the next-generation model of Honeywell's HTF7K engine. "Working together, we will generate significant value for Bombardier's operator base by providing the latest technologies to enable safe and efficient flight," said Jim Currier , President and CEO of Honeywell Aerospace Technologies. "We are committed to investing in these key technologies with Bombardier, which will not only drive substantial growth for Honeywell, but lead the industry further into the future of aviation." As part of the partnership, Bombardier and Honeywell will work together to certify and offer JetWave X for the Bombardier Global and Challenger families of aircraft for both new production and aftermarket installations. Bombardier will also have access to Honeywell's full suite of next generation L-Band satellite communications products and antennas that will provide future safety services capabilities. Additionally, all legacy pending litigation between the companies has been resolved. Honeywell Updates 2024 Outlook While the commercial agreement impacts near-term Honeywell financials, the company is confident it will lead to long-term value creation for Honeywell shareowners. Given the required investments associated with this agreement, Honeywell has updated its full-year sales, segment margin 2 , adjusted earnings per share 2,3 , and free cash flow guidance 1 . A summary is provided in the table below. Bombardier, Global and Challenger are trademarks of Bombardier Inc. or its subsidiaries. Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends - automation, the future of aviation, and energy transition - underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations that help make the world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom . Honeywell uses our Investor Relations website, www.honeywell.com/investor , as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media. We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company's Advanced Materials business into a stand-alone, publicly traded company. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: Segment profit, on an overall Honeywell basis; Segment profit margin, on an overall Honeywell basis; Organic sales growth; Free cash flow; and Adjusted earnings per share. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Appendix Non-GAAP Financial Measures The following information provides definitions and reconciliations of certain non-GAAP financial measures presented in this press release to which this reconciliation is attached to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP). Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. Management believes the change to adjust for amortization of acquisition-related intangibles and certain acquisition- and divestiture-related costs provides investors with a more meaningful measure of its performance period to period, aligns the measure to how management will evaluate performance internally, and makes it easier for investors to compare our performance to peers. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Other companies may calculate these non-GAAP measures differently, limiting the usefulness of these measures for comparative purposes. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitations of these non-GAAP financial measures are that they exclude significant expenses and income that are required by GAAP to be recognized in the consolidated financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Investors are urged to review the reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures and not to rely on any single financial measure to evaluate Honeywell's business. Honeywell International Inc. Definition of Organic Sales Percent Change We define organic sales percentage as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures, for the first 12 months following the transaction date. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. We define operating income as net sales less total cost of products and services sold, research and development expenses, impairment of assets held for sale, and selling, general and administrative expenses. We define segment profit, on an overall Honeywell basis, as operating income, excluding stock compensation expense, pension and other postretirement service costs, amortization of acquisition-related intangibles, certain acquisition- and divestiture-related costs and impairments, and repositioning and other charges. We define segment profit margin, on an overall Honeywell basis, as segment profit divided by net sales. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of operating income to segment profit, on an overall Honeywell basis, has not been provided for all forward-looking measures of segment profit and segment profit margin included herein. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit, particularly pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of operating income to segment profit will be included within future filings. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle, and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. We define adjusted earnings per share as diluted earnings per share adjusted to exclude various charges as listed above. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward-looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments, and other relevant factors, these assumptions are subject to change. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. We define free cash flow as cash provided by operating activities less cash for capital expenditures. We believe that free cash flow is a non-GAAP measure that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock, or repay debt obligations prior to their maturities. This measure can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. SOURCE Honeywell
Travelzoo ( NASDAQ:TZOO – Get Free Report ) major shareholder Azzurro Capital Inc sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $19.60, for a total value of $392,000.00. Following the sale, the insider now directly owns 4,442,696 shares in the company, valued at approximately $87,076,841.60. The trade was a 0.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link . Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC. Azzurro Capital Inc also recently made the following trade(s): Travelzoo Trading Down 10.8 % NASDAQ:TZOO opened at $19.72 on Friday. The business’s fifty day moving average price is $18.64 and its 200 day moving average price is $13.40. The firm has a market capitalization of $232.77 million, a price-to-earnings ratio of 18.43 and a beta of 1.71. Travelzoo has a 1-year low of $7.12 and a 1-year high of $22.44. Travelzoo declared that its board has authorized a share buyback program on Wednesday, October 23rd that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued. Analyst Ratings Changes A number of brokerages recently issued reports on TZOO. Litchfield Hills Research began coverage on Travelzoo in a report on Wednesday, September 4th. They issued a “buy” rating and a $35.00 target price on the stock. Barrington Research boosted their price objective on Travelzoo from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. StockNews.com cut shares of Travelzoo from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, Ascendiant Capital Markets boosted their price target on shares of Travelzoo from $18.00 to $23.00 and gave the company a “buy” rating in a report on Monday, November 11th. Get Our Latest Analysis on Travelzoo Institutional Inflows and Outflows Hedge funds have recently bought and sold shares of the company. Ritholtz Wealth Management acquired a new stake in shares of Travelzoo during the 2nd quarter valued at about $82,000. ClariVest Asset Management LLC raised its position in Travelzoo by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 97,730 shares of the information services provider’s stock valued at $742,000 after acquiring an additional 2,732 shares in the last quarter. American Century Companies Inc. acquired a new stake in Travelzoo in the second quarter valued at approximately $82,000. Hennion & Walsh Asset Management Inc. grew its position in Travelzoo by 169.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 127,186 shares of the information services provider’s stock worth $1,533,000 after acquiring an additional 79,990 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Travelzoo during the 3rd quarter worth $35,000. 27.39% of the stock is owned by institutional investors and hedge funds. About Travelzoo ( Get Free Report ) Travelzoo, together with its subsidiaries, operates as an Internet media company that provides travel, entertainment, and local experiences worldwide. It operates in four segments: Travelzoo North America, Travelzoo Europe, Jack's Flight Club, and New Initiatives. The company offers Travelzoo website, Travelzoo Top 20 email newsletters, Standalone email newsletters, Travelzoo Network, Travelzoo mobile applications, Jack's Flight Club website, Jack's Flight Club mobile applications, and Jack's Flight Club newsletters. Recommended Stories Receive News & Ratings for Travelzoo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Travelzoo and related companies with MarketBeat.com's FREE daily email newsletter .
– Zimbabwe experienced a major nationwide power outage on Sunday night, leaving millions of citizens without electricity as the country continues to grapple with chronic energy challenges. The confirmed the blackout, issuing a statement to affected customers: “Our National Control Centre has advised that there has been a national blackout. Works are already in progress to resolve the issue.” The exact cause of the blackout is yet to be disclosed, but preliminary reports suggest a technical fault within the national grid. This latest outage compounds the struggles Zimbabweans already face with prolonged daily power cuts lasting up to 18 hours. The extended load-shedding is attributed to reduced energy output from the country’s primary power generation sources— and . , a major contributor to Zimbabwe’s energy supply, is currently operating below capacity due to low water levels caused by prolonged droughts. The , on the other hand, is plagued by aging infrastructure, frequent breakdowns, and insufficient maintenance, further crippling the nation’s energy production. The ongoing energy crisis has caused significant disruptions to businesses, industries, and households. Small and medium-sized enterprises (SMEs), reliant on stable electricity for operations, are bearing the brunt of these outages, often resorting to costly diesel generators to keep running. A major blackout has left many without power tonight. ZESA tells customers: “Our National Control Center has advised that there has been a national blackout. Works already in progress to sort the issue” Zimbabweans are already suffering extended hours without power due to low... — newZWire (@newswireZW) Urban households face added difficulties, with many families struggling to keep food refrigerated and endure the sweltering heat without fans or air conditioning. Meanwhile, rural areas, which already have limited access to electricity, are left even more vulnerable. The power crisis is also negatively impacting essential services, including hospitals and schools, forcing institutions to rely on backup power sources, which are not always reliable or readily available. In response to the energy shortages, the government has been seeking solutions, including importing power from neighbouring countries such as Mozambique, South Africa, and Zambia. However, these efforts are hampered by Zimbabwe’s foreign currency shortages, limiting its ability to settle debts and secure additional energy supplies. The government has also initiated several projects to expand energy production, including the , which aims to add 600 megawatts to the grid. However, these initiatives are long-term and have yet to provide immediate relief. Frustrated citizens took to social media to voice their concerns, calling for swift action to address the ongoing power challenges. “How are we supposed to function when there’s no power for most of the day, and now we have a total blackout?” asked one Harare resident on Twitter. Others criticised ZESA and the government for failing to maintain critical infrastructure and implement sustainable energy policies. The blackout serves as a stark reminder of Zimbabwe’s fragile energy sector and the urgent need for reforms to improve energy generation and distribution. As engineers work to restore power, the government faces mounting pressure to deliver long-term solutions to end the persistent energy crisis. For now, millions of Zimbabweans remain in darkness, waiting for answers and a return to normalcy.Marianne Schnall: Why we need to embolden women and girls to keep running for leadership
Letter: Board of education holding public comments session about booksDuring this busy holiday shopping season, some bargain hunters may be wondering if this is the ideal time to stock up on items before they could cost a lot more. That's because there are only months left before President-elect Donald Trump gets back in the White House, where he's promised to enact steep tariffs on imports. While there's a lot we don't know about his plan, one thing seems pretty clear: Tariffs will go up. And if history is any guide, that means price increases will likely follow. Trump has said he'll slap a new 25% across-the-board tariff on imports from Mexico and Canada as well as an additional 10% tariff on Chinese imports starting on Day 1. On the campaign trail, he pledged a 60% tariff on goods imported from China and a 10% to 20% tariff on goods from other countries. Trump's threats might simply be negotiating tactics, not concrete plans. But if tariffs do happen, we don't know, for instance, how long they'll last and if there will be exclusions. Still, new tariffs could significantly increase consumer prices on nearly everything that isn't entirely US-made, which isn't much these days. So it's not too early to start planning ahead - your wallet may thank you later. But there are some caveats. For one thing, you can only buy so many imported fruits and vegetables before they go bad. And as pandemic-era toilet paper hoarding showed, "stockpiling by consumers can actually lead to higher prices in and of themselves and empty store shelves," said Scott Lincicome, vice president of general economics and trade at the libertarian Cato Institute. Here's what you might want to put on your holiday shopping list now to get ahead of possible tariffs. IPhones are a holiday favorite, as evidenced by Apple's sales data, which often shows a significant bump in the quarter as people replace their phones with the latest model. And it's not just iPhones. All kinds of smartphones (and other electronic gadgets) draw shoppers in droves during the holiday shopping season. Currently, very few smartphones are manufactured in the United States. China accounts for 78% of US total imports, according to a recent analysis commissioned by the Consumer Technology Association report. Moving smartphone production to other countries, including the United States, where very few are currently made, could push prices up substantially. But a 10% across-the-board import tariff, plus the additional 60% on Chinese goods, could cause the price of a new smartphone to rise by 26% to $213 and would likely go even higher if there's a 25% blanket tariff on imports from Canada and Mexico, CTA reported. After supply chain issues during the pandemic, however, Apple has shifted some of its iPhone production out of China and more of it to India. A 10% tariff on all imports and an additional 60% tariff on imports from China would boost the price of the average household appliance by 19.4%, assuming retailers fully pass on the additional cost to consumers. That's according to an analysis commissioned by the National Retail Federation, a trade group representing retailers. That means, for instance, a new $40 toaster would cost about $48. The same price hike applies to other household appliances, including hair dryers, vacuums and even larger items like washing machines, according to the NRF report. That doesn't mean you should rush to buy one. But if you need a new one -- or will soon - now's a good time to consider buying. "In retrospect, if you were in dire need of a washer and dryer in 2017, I would have said, 'Buy that sucker right now; don't wait because next year it's gonna be 20% more,'" Lincicome said, looking back on a 20% tariff on imported washing machines Trump put in place in 2018. The price of a new gaming console could go up by nearly 40%, just taking into account the 10% tariff on all imports and an additional 60% on Chinese goods, the CTA estimated. That would bring the average price of a gaming console up by $246. That's primarily because China is the major supplier of consoles, accounting for 87% of US video game console imports last year, according to the CTA-commissioned report. Few alternatives exist for moving production, the authors wrote. And tapping the few alternatives comes at a steep cost. Another device that could become more expensive is a computer monitor, which could jump by over 30% under Trump's tariff plan, according to CTA estimates. That would mean the average computer monitor would cost about $100 more. Similar to consoles and smartphones, very few laptops and tablets are manufactured in the United States. A 10% across-the-board import tariff plus the additional 60% on Chinese goods could result in a 45% increase in the consumer prices for laptops and tablets, according to CTA's report. On average, that would mean consumers pay $357 more for laptops and $201 for tablets. "There's very little in the consumer electronics space that is not imported," Best Buy CEO Corie Barry said on the company's earnings call last week. "The customer ends up bearing some of the cost of the tariffs. These are goods that people need, and higher prices are not helpful." NRF estimates some of the new tariffs Trump proposed could make the price of some shoes go up by at least 18%, as brands consider moving to new manufacturing countries to save on costs. That means a running shoe that costs about $90 could go to $106. Already, Steve Madden is trying to shift some of its shoe manufacturing out of China to avoid new tariffs. Buying toys for any kids (or kidults) in the future? Be prepared to potentially shell out a lot more money. If some of the new tariffs Trump has proposed go into effect, the price of some toys could rise by 36%. Like many electronics, several toys have been excluded from existing tariffs. But since China roughly accounted for more than 77% of total toy imports last year, a hefty broad-based tariff on Chinese goods would significantly raise prices, according to NRF. (The-CNN-Wire & 2024 Cable News Network, Inc., a Time Warner Company. All rights reserved.)
