trade tariffs
The uncertainty felt by stakeholders within the European bloodstock industry appears likely to persist into the summer after US President Donald Trump announced a 15% "global tariff" which will be in place for around five months. Trump's "reciprocal tariffs", imposed on most of the rest of the world last April under an emergency powers law, were overturned by the US Supreme Court on Friday in a major blow to the President's economic agenda. Speaking at the White House on Friday, Trump initially said that the Supreme Court decision affirmed his...
The massive-scaled, $455-million rebuild of Belmont Park that is on target to be finished by September 2026 is thus far unaffected by skyrocketing tariffs on steel and aluminum, although New York Racing Association (NYRA) executives told the New York State Franchise Oversight Board (FOB) during a Friday meeting they are being vigilant about monitoring the situation. NYRA and FOB personnel have good reason to be on high alert about concerns over potential cost overruns: On June 4, President Donald Trump doubled United States tariffs on steel and aluminum imports to...
by Sue Finley and Dan Ross Few commercial sectors appear immune from the current administration's sweeping import tariffs, and that includes horse racing's biggest Saturday of the year, with Japan's participants in the GI Kentucky Derby potential targets of the trade war. Stressing a general air of uncertainty surrounding the tariff specifics, Matt Haug, general manager of International Racehorse Transport (IRT), said that, as he and his customs broker understood the situation, the Japanese-trained Luxor Cafe (American Pharoah) is exempt from any tariff being a U.S.-bred runner. For foreign-bred horses--like...
It felt more doomsday than liberation day as the world - especially those people who do business with America - awaited President Trump's address from the White House on trade tariffs. In the bloodstock sector, where horses are regularly traded between Europe and the United States, the one thing we can be certain of for now is that the issue will add some uncertainty to the market. A first test of the degree to which it will affect the sales will come when the breeze-ups get underway later this month....