Reebok founder on Trump tariffs: It's virtually impossible to make sneakers in US

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  • Reebok founder on Trump tariffs: It's virtually impossible to make sneakers in US</p>

<p>Grace L. WilliamsJuly 14, 2025 at 9:07 PM</p>

<p>Listen and subscribe to Opening Bid Unfiltered on Apple Podcasts, Amazon Music, Spotify, YouTube, or wherever you find your favorite podcasts.</p>

<p>Trump tariff realities.</p>

<p>A switch to making sneakers in the US from the likes of China and Vietnam is "virtually impossible overnight," Reebok founder Joe Foster told Yahoo Finance Executive Editor Brian Sozzi in a new episode of the Opening Bid Unfiltered podcast (see video above or listen below). "It's not something you can just turn the switch on."</p>

<p>"You've got to go somewhere where you've got a lot of people who are quite willing to sit on a machine [and the] production line," he added. "That doesn't happen overnight. In fact, in the UK, we can't get people to do that. They won't do it."</p>

<p>With the Trump administration's tariffs, Reebok and its rivals, such as Nike (NKE), Under Armour (UAA), and Skechers (SKX), face a pressured and uncertain future.</p>

<p>Read more: What Trump's tariffs mean for the economy and your wallet</p>

<p>As of July 9, the administration announced the reciprocal tariff deadline would be pushed to Aug. 1, and an initial agreement with Vietnam would place 20% tariffs on goods shipped to the US, with no tariffs on US goods going into Vietnam. The Trump administration has also threatened a 30% tariff on Mexico, which is also a key sourcing region for footwear making.</p>

<p>No trade deal with China — the most important region for footwear makers — has been secured.</p>

<p>One concern about moving supply chains is whether the quality of goods will remain. Foster, who has overseen Reebok's manufacturing process throughout Asia, finds that "the techniques and the people actually go with the machinery."</p>

<p>Shoes run in Foster's family.</p>

<p>Foster, 90, is a Bristol, UK, native and the author of "Shoemaker." His grandfather, also named Joe Foster, created spiked running shoes in 1895 at the age of 15. While the family business, JW Foster & Sons, is where Joe and his brother got their start in the shoe business, they eventually went on to start Reebok in 1958.</p>

<p>Foster retired in 1997, and Adidas (ADS.DE) acquired Reebok in 2005.</p>

<p>Foster's newest venture is in artificial intelligence, courtesy of a partnership with Syntilay. This partnership will design and create customized footwear and give Foster the potential to be at the forefront of the footwear revolution again.</p>

<p>Each week, Yahoo Finance Executive Editor Brian Sozzi fields insight-filled conversations and chats with the biggest names in business and markets on Opening Bid Unfiltered. You can find more episodes on our video hub or watch on your preferred streaming service.</p>

<p>Grace Williams is a writer for Yahoo Finance.</p>

<p>Click here for all of the latest retail stock news and events to better inform your investing strategy</p>

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Reebok founder on Trump tariffs: It's virtually impossible to make sneakers in US

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Trump Threatens Tariffs on Russia if Putin Fails to End War

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  • Trump Threatens Tariffs on Russia if Putin Fails to End War</p>

<p>Callum SutherlandJuly 15, 2025 at 1:20 AM</p>

<p>Donald Trump has threatened Russia with "very severe tariffs​" should it fail to reach a cease-fire deal with Ukraine within 50 days, signaling a hardened U.S. stance as the war enters a volatile new phase.</p>

<p>"We're going to be doing secondary tariffs if we don't have a deal in 50 days," the U.S. President said during a meeting at the White House with NATO Secretary General Mark Rutte. "It's very simple, and they'll be at 100%."</p>

<p>The proposed measures would target any country continuing to do business with Russia, effectively pressuring global partners to isolate Moscow economically.</p>

<p>Trump also confirmed that the United States would send Patriot missile systems to Ukraine as part of a broader weapons package coordinated through NATO.</p>

<p>"We're going to have some [Patriots] come very soon, within days," he said. "A couple of the countries that have patriots are going to swap over."</p>

<p>The Patriot system is a highly effective air-defense platform that includes a radar station to detect incoming threats, a command center to coordinate the response, and a missile launcher capable of firing interceptor missiles, each valued at approximately $3 million.</p>

<p>Rutte will also meet with Secretary of State Marco Rubio on Tuesday, as U.S. and NATO leaders consider further joint action to support Ukraine and counter Russia's military aggression.</p>

<p>Read more: The Man Who Wants to Save NATO</p>

<p>When asked if this deal would push Putin towards a peace agreement with Ukraine, Trump replied: "I think this is a chance at getting peace, or it's just going to be the same thing."</p>

<p>Trump criticized the Russian leader, describing Putin as unpredictable. "I speak to him a lot about getting this thing done, and I always hang up and say 'well that was a nice phone call' and then missiles are launched into Kyiv," he said. "After that happens three or four times you say 'the talk doesn't mean anything'."</p>

<p>"I don't want to say he's an assassin, but he's a tough guy, he fooled a lot of people," he continued.</p>

<p>Bloomberg via Getty Images" data-src=https://ift.tt/bFtkMis via Getty Images" src=https://ift.tt/Y7xNDZb class=caas-img>Donald Trump and Mark Rutte shake hands during a meeting in the Oval Office of the White House in Washington, DC, on July 14, 2025. Bloomberg via Getty Images</p>

<p>Trump has made a number of recent criticisms of his Russian counterpart. Following a call with the Russian leader on July 4, he told reporters he was "very disappointed" with their conversation. "I don't think he's there… I'm just saying I don't think he's looking to stop, and that's too bad."</p>

<p>Read more: Trump Discovers the War in Ukraine May Be Too Complicated to Fix</p>

<p>Hours later, Russia carried out what was its largest aerial attack at the time on Ukraine since the start of its invasion of the country in 2022.</p>

<p>Four days later, following another overnight barrage on Ukrainian cities, Trump again voiced his frustration.</p>

<p>"We get a lot of bullsh-t thrown at us by Putin, if you want to know the truth," he said. "He's very nice to us all the time, but it turns out to be meaningless."</p>

<p>Kremlin spokesman Dmitri Peskov responded dismissively, saying, "Trump's way of talking is generally quite harsh, the phrases he uses," adding that Moscow felt "pretty calm" about his words.</p>

<p>Trump was also said to be considering a bipartisan Senate proposal to impose sanctions on Russia oil exports in response to Putin's seeming lack of willingness to negotiate on the war.</p>

<p>The surge in U.S. military commitments follows a brief but controversial pause in American munitions shipments to Ukraine earlier this month. That decision — authorized by Defense Secretary Pete Hegseth following a routine review of Pentagon spending — was not initially communicated to the White House, as first reported by CNN.</p>

<p>When asked about who authorized the pause during a Cabinet meeting on July 8, Trump responded: "I don't know, why don't you tell me?"</p>

<p>The pause came amid growing scrutiny of defense spending and questions over U.S. leadership within NATO. At the 2025 NATO Summit in the Netherlands, member states committed to a defense spending target of 5% of GDP by 2035 — a significant shift from earlier commitments.</p>

<p>When pressed then about whether the U.S. would send anti-aircraft missiles to Ukraine, Trump responded: "We're going to see if we can make some available."</p>

<p>Since then, Trump has continued to send mixed signals, expressing both impatience with Russia and an openness to negotiation.</p>

<p>Trump also revealed that Putin had recently offered to assist in mediating between Israel and Iran during their brief June conflict — an offer he declined. "I said, 'No, no, you help me get a settlement with you, with Russia,'" Trump recounted. "And I think we're going to be doing that too."</p>

<p>Contact us at [email protected].</p>

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Trump Threatens Tariffs on Russia if Putin Fails to End War

<p>- Trump Threatens Tariffs on Russia if Putin Fails to End War</p> <p>Callum SutherlandJuly 15, ...
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'A tragedy': 9 killed in fire at senior living facility in Massachusetts

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  • 'A tragedy': 9 killed in fire at senior living facility in Massachusetts</p>

<p>Julia Gomez, Linda Murphy and Christopher Cann, USA TODAY July 14, 2025 at 5:52 PM</p>

<p>FALL RIVER, MA – A blaze at an assisted living facility in Massachusetts killed at least nine people and injured over 30 others after it trapped residents inside, forcing first responders to kick down doors and pull screaming people out through windows.</p>

<p>Firefighters responded Sunday around 9:50 p.m. to Gabriel House Assisted Living Facility in Fall River, about 50 miles south of Boston. Upon arrival, they saw the front of the building engulfed in flames and smoke, and began rescuing people while trying to quell the blaze.</p>

<p>Multiple people were declared dead at the scene while over 30 were rushed to area hospitals, including at least five firefighters with minor injuries. As of Monday morning, nine people were dead and one person was in critical condition, said Fall River Fire Chief Jeffrey Bacon. Approximately 70 people were living in the building when the fire broke out.</p>

<p>Bacon described the chaotic scene that saw residents begging for help and "hanging out of windows looking to be rescued." He said firefighters and police pulled dozens of people to safety, squeezing them through small windows or breaking down doors and carrying residents – some of whom were in wheelchairs – out of the building.</p>

<p>The cause of the incident remains unclear and is under investigation. Officials said the building owner has been cooperative and the facility will soon be boarded up.</p>

<p>"The fire at Gabriel House in Fall River is a tragedy," said Massachusetts Gov. Maura Healey in a statement. "My heart goes out to those who are waking up to the most horrific news imaginable about their loved ones this morning."</p>

<p>More news: 2 women dead after Kentucky church shooting; suspect killed by police</p>

<p>What we know about possible cause of deadly Fall River fire</p>

<p>While inspectors worked to pinpoint what led to the fire, officials have begun describing potential hazards in the building when the blaze broke out.</p>

<p>At a news conference, Bacon noted the presence of "several" oxygen tanks, which are commonly used by elderly residents and can be fire hazards. However, the chief said they were "irrelevant to the fire at this time" and cited an ongoing investigation headed by the Massachusetts Department of Fire Services.</p>

<p>What is Gabriel House in Fall River?</p>

<p>The Gabriel House assisted living facility opened in 1999 and is made up of 100 units, according to the Massachusetts Executive Office of Aging & Independence.</p>

<p>Gabriel House's website says is meant for people 55 and older, and that it provides a range of care for residents with diseases such as diabetes or those who struggle to control their bodily functions.</p>

<p>It remains unknown if Gabriel House had and followed an evacuation plan. The building's owner Dennis Etzkorn has not responded to multiple requests for comment from the Herald News, part of the USA TODAY Network. Fall River Mayor Paul Coogan said Gabriel House – like all the city's nursing facilities – are on the city's radar for health and safety inspections, but he did not describe what recent inspections showed.</p>

<p>"We know this building," Coogan said. "We know it well. We work with the staff here and the management to try to make sure if they need help, we're here for them."</p>

<p>Firefighters carried residents out of burning building</p>

<p>More than half the facility's 70 residents had to be evacuated either through windows or out various doors, Bacon said. Many were physically carried out because of mobility issues.</p>

<p>Bacon said the number of window air conditioning units made rescues difficult and forced first responders to use smaller windows to pull people out."The windows that would have affected the best rescues had the ACs in them, so rescues had to be done through smaller windows," Bacon said.</p>

<p>The chief added that the fire damage was limited to one wing of the building, but that smoke had engulfed the facility's interior, likely leading to deaths and dozens of injuries.</p>

<p>"The fire attack was very quick, it was just a very smokey fire," said Bacon.</p>

<p>Evacuees left behind medicine amid frantic escape</p>

<p>The building's many evacuees were taken to the city's homeless overflow shelter, where city staff and others were assisting them with getting medicine, clothes and other belongings they had to leave behind in the frantic evacuation.</p>

<p>Coogan, the mayor of Fall City, said all the assisted living facility's medical records were in file folders that survived the blaze."We just carried out a bunch of medical records," Bacon told reporters. "The room they were stored in was salvaged, so we were able to get all those records down so they can get medications for all the displaced people."</p>

<p>This article originally appeared on USA TODAY: 9 dead after fire engulfs senior living facility in Massachusetts</p>

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'A tragedy': 9 killed in fire at senior living facility in Massachusetts

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Tesla stock higher on potential for xAI investment; full merger would be the 'next stage,' analyst says

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  • Tesla stock higher on potential for xAI investment; full merger would be the 'next stage,' analyst says</p>

<p>Pras SubramanianJuly 14, 2025 at 11:30 PM</p>

<p>Tesla stock (TSLA) rose Monday morning after CEO Elon Musk said Tesla should be able to invest in his xAI (XAAI.PVT) startup, pending a shareholder vote. This would be another instance of the "Muskonomy" at play, in which Musk's companies become more financially intertwined and potentially beneficial to him.</p>

<p>In response to a user on X.com asking about Tesla investing in xAI, Musk said that Tesla shareholders would have the chance to "vote on that matter." The user's request came after a Wall Street Journal report over the weekend that Musk's SpaceX (SPAX.PVT) had agreed to invest $2 billion in xAI's latest fundraising round. The user said it was "not fair" to Tesla retail investors that the company was not invested in xAI, to which Musk agreed and said, "If it was up to me, Tesla would have invested in xAI long ago."</p>

<p>Musk said in a later post that Tesla should not merge with xAI, although the two companies currently work together. The xAI Grok chatbot was added to Tesla's vehicles in a recent software update, though this has been a contentious move as Grok has been embroiled in controversy surrounding antisemitic statements.</p>

<p>Bloomberg noted that xAI is also a Tesla customer, purchasing nearly $200 million worth of Tesla megapack energy storage batteries.</p>

<p>Musk's companies investing in one another — and even merging together — is nothing new. In March, xAI bought out Musk's X.com in a deal valuing X.com at $33 billion, a very good deal for investors in the social media company. In 2016, Tesla acquired SolarCity for $2.6 billion; the solar firm was struggling at the time and was previously run by Musk's family members, per Walter Isaacson's Musk biography.</p>

<p>Indeed, the commingling of resources between Musk's companies is nothing new, though it is somewhat controversial. Tesla engineers have been working at both X.com and xAI, and highly sought-after Nvidia chips originally destined for Tesla's AI efforts were directed to xAI.</p>

<p>Shareholder groups have complained about what appears to be a conflict of interest for Musk and his companies in the past. In this case, Musk appears to favor a company like xAI, in which he owns a large stake and can more fully control.</p>

<p>The 'Muskonomy' (source: Morgan Stanley) (Morgan Stanley)</p>

<p>Wall Street analysts, including Wedbush's Dan Ives, suggested a Tesla and xAI tie-up could enhance Tesla's artificial intelligence presence and indirectly compensate Musk, whose Tesla pay package has been stuck in legal limbo.</p>

<p>In a recent note, Ives argued that Musk needed a new package giving him 25% voting power to incentivize him, along with "guardrails" that guaranteed his time at the company. Musk chided Ives for the guardrails suggestion, telling the analyst to "shut up."</p>

<p>Nevertheless, in an interview with Yahoo Finance, Ives brushed off the Musk quip and predicted there was a "more than 50%" chance that Tesla shareholders would approve a compensation package like the one he proposed with the guardrails. But xAI was the real trophy.</p>

<p>"What I view as an XAI merger, to me, that is ultimately sort of the next stage to where we see this all heading," Ives said, once Musk's pay package was sorted out.</p>

<p>A new compensation package would create a framework that could eventually lead to a full Tesla and xAI merger, one that Ives said would create "one of the most powerful AI companies" in the world. Recall that Musk said early last year that he would be "uncomfortable" building Tesla into an AI powerhouse without more control.</p>

<p>Pras Subramanian is the lead auto reporter for Yahoo Finance. You can follow him on X and on Instagram.</p>

<p>Click here for the latest stock market news and in-depth analysis, including events that move stocks</p>

<p>Read the latest financial and business news from Yahoo Finance</p>

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Tesla stock higher on potential for xAI investment; full merger would be the 'next stage,' analyst says

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Why Micron Stock Dropped on Monday

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  • Why Micron Stock Dropped on Monday</p>

<p>Rich Smith, The Motley FoolJuly 15, 2025 at 12:30 AM</p>

<p>Key Points -</p>

<p>Edgewater Research warned that prices and demand for computer memory chips would fall in the second half of 2025.</p>

<p>Micron stock has decent earnings, but its free cash flow already looks weak.</p>

<p>And now that free-cash-flow number could get even worse.</p>

<p>10 stocks we like better than Micron Technology ›</p>

<p>Shares of computer semiconductor memory maker Micron (NASDAQ: MU) tumbled 4.3% through 11:45 a.m. ET Monday.</p>

<p>You can probably blame Edgewater Research for that.</p>

<p>Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »</p>

<p>1 red arrow going down.</p>

<p>Image source: Getty Images.</p>

<p>On the edge of being informative</p>

<p>There's not a lot of detail available yet on what Edgewater said about Micron today. So far, the most I've found is the briefest of mentions, on StreetInsider.com, that the research firm says demand and pricing for computer memory in the first half of 2025 appear to have been "better." (Better than last year? Better than expected? Your guess is as good as mine.)</p>

<p>And that both demand and pricing will be "sub seasonal," or worse than the company's historical average for the second half of a year, and with "bias lower." Which would appear to mean that things will be somewhat bad, and potentially worse than investors are expecting.</p>

<p>Also, it's worth pointing out that Edgewater says this is true for both Micron and its rival SanDisk (NASDAQ: SNDK).</p>

<p>Is Micron stock a sell?</p>

<p>Admittedly, this isn't a whole lot of detail, nor does it give investors a whole lot of explanation for why they might to want to sell Micron -- or SanDisk, whose stock is down 8.6%. So how worried should you be?</p>

<p>In the case of Micron, I'd be pretty worried. Although reported earnings of $6.2 billion (according to generally accepted accounting principles) look fine to me, the company generated less than $1.9 billion in real free cash flow over the last 12 reported months. On a $139 billion market cap, that works out to a very expensive price-to-free cash flow ratio of 74 -- which is probably too much to pay.</p>

<p>And the greater the "bias lower" in H2 2025, the less inclined I'd be to buy Micron stock.</p>

<p>Should you invest $1,000 in Micron Technology right now?</p>

<p>Before you buy stock in Micron Technology, consider this:</p>

<p>The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Micron Technology wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.</p>

<p>Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $671,477!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,010,880!*</p>

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<p>Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.</p>

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Why Micron Stock Dropped on Monday

<p>- Why Micron Stock Dropped on Monday</p> <p>Rich Smith, The Motley FoolJuly 15, 2025 at 12:30 A...
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Fed's Powell asks for inspector general review of project criticized by Trump officials

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  • Fed's Powell asks for inspector general review of project criticized by Trump officials</p>

<p>Howard SchneiderJuly 14, 2025 at 11:53 PM</p>

<p>By Howard Schneider</p>

<p>WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell has asked the U.S. central bank's inspector general to review the costs involved in the renovation of its historic headquarters in Washington, as Trump administration officials intensify their criticism of how the Fed is being run.</p>

<p>The request to Fed Inspector General Michael Horowitz, first reported by Axios, was made over the weekend, according to a source familiar with the matter.</p>

<p>It follows a letter to Powell last week from Office of Management and Budget Director Russell Vought, who wrote that President Donald Trump was "extremely troubled" by cost overruns in the $2.5 billion project. In material posted to its website on Friday, the Fed described the challenges in a complete rehabilitation of the nearly 100-year-old Marriner S. Eccles building and a neighboring property on Constitution Avenue in the nation's capital.</p>

<p>OMB has no oversight over the Fed, which funds its own operations separately from the appropriations process in Congress. The Federal Reserve Act also gives the central bank's seven-member Board of Governors control over its building and related projects, with oversight by Congress and the Fed's independent IG, which has been reviewing the renovations throughout the process.</p>

<p>But Vought's criticism marked an escalation by the Trump administration against Powell and the Fed more broadly. Trump has been angry over the central bank's refusal to cut interest rates on his timetable. Fed officials, however, have resisted cutting rates until there is clarity on whether Trump's tariffs on U.S. trading partners reignite inflation.</p>

<p>Trump has said Powell should resign, but the president does not have the power to fire him over a monetary policy dispute.</p>

<p>Powell, who was nominated by Trump in late 2017 to lead the Fed and then nominated for a second term by then-President Joe Biden four years later, has said he intends to serve out his term as Fed chief, which ends on May 15.</p>

<p>A list of "frequently asked questions" about the project, posted by the Fed on Friday included several raised by Vought and also addressed by Powell during a recent hearing in Congress, when the Fed chief clarified, for example, that contrary to some press reports there were no private elevators being installed to carry Fed officials to a private dining room.</p>

<p>The Eccles building, the Fed's main headquarters, was built during former President Franklin Delano Roosevelt's administration.</p>

<p>The neighboring site at 1951 Constitution Avenue, which dates to the administration of Roosevelt's predecessor, Herbert Hoover, had been used by a number of agencies before being turned over to the Fed in 2018 by the first Trump administration "enabling them to renovate this historic property," Trump's General Services Administration said in a press release at the time. "This transfer will put a vacant building back in productive use, allow the Federal Reserve Board to consolidate several leases and result in savings for taxpayers," it said.</p>

<p>(Reporting by Howard Schneider; Editing by Paul Simao)</p>

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Fed's Powell asks for inspector general review of project criticized by Trump officials

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