Trump tariffs

When Matt Dorman spent 3,240,000 guineas on eight yearling fillies at last year's Tattersalls October Book 1, he pretty much accepted that he'd never again see the 10-15% tariffs he paid on the horses again. The tariffs, a result of Donald Trump's invocation of the International Emergency Economic Powers Act (IEEPA) to implement taxes on goods being imported from foreign countries in 2025, included a 10-percent rate. The figure was levied on goods coming from the U.K., while 15 percent was assessed on other European Union countries. That meant that...

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...

Churchill Downs Incorporated (CDI) has decided to pause the multi-year projects to develop The Skye, Conservatory and Infield areas "due to the increasing uncertainty surrounding construction costs related to the Trump tariffs and trade disputes as well as current macro-economic conditions," the company said in a press release on Wednesday afternoon. During their first quarter earnings call after the market closed, CDI said in the coming months it will assess the evolving economic landscape and evaluate any changes to the timing and sequencing of these multi-year projects. Chief Executive Officer...