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1. Trump administration refines tariff plans
As the April 2 start for reciprocal tariffs imposed by the U.S. on Mexican and Canadian goods nears, and President Trump's administration continues to refine its approach as the date nears, the Wall Street Journal reports.
The plan to introduce reciprocal tariffs on imports from these countries remain in place, but some sector-specific tariffs, such as those for automobiles, pharmaceuticals and semiconductors, are now likely excluded on April 2, the newspaper reports. Trump's administration is focusing on applying tariffs to about 15% of nations "with persistent trade imbalances," with targeted nations including Australia, Brazil, Canada, China, the European Union, India, Japan, South Korea, Mexico, Russia, Vietnam and more.
2. American businesses push back on fees for Chinese ships
About 300 companies, trade groups and individuals submitted comments or requests to speak at a Washington, D.C., hearing this week about a U.S. Trade Representative office proposal that would charge carriers between $500,000 and $1.5 million in fees each time a Chinese-built vessel enters a U.S. port, the Wall Street Journal reports.
If the proposal were to be enacted, it would cost the shipping industry about $20 billion a year, the newspaper reports. It could lead to fewer port calls, raise freight rates and delay deliveries.
“The fees will result in cost increases of hundreds of dollars per container for cargo owners at a time when they continue to face challenges and pressures in their supply chains,” the National Retail Federation’s vice president of supply chain, Jonathan Gold, wrote to the U.S. Trade Representative.
3. Hotels play role in Phuket's rise as luxury destination
Hotel performance on the Thailand island of Phuket has been growing steadily over the past few years, now attracting luxury lifestyle hotel brands and high-net-worth individuals to the island, HNN contributor Selena Oh reports.
Occupancy, average daily rate and revenue per available room all increased year over year in 2024. Ultra-luxury resorts and brands such as Amanpuri, Rosewood Hotels & Resorts, Andara Resorts & Villas, Trisara and Six Senses Yao Noi have attracted wealthy travelers to visit, HNN reports.
4. Eurozone economy growth reaches 7-month high
The preliminary composite Eurozone Purchasing Managers' Index rose to 50.4 in March, its highest level in seven months, Reuters reports. It was up from 50.2 in February, but was below the news outlet's projection of 50.8 prior to the announcement.
A near three-year-long contracting in manufacturing numbers eased in the month as well, with its PMI rising to 48.7 from 47.6 in February. Factory output showed expansion for the first time in two years.
"Just in time with the beginning of spring we may see the first green shoots in manufacturing," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.
5. United Airlines raises fees on lounge membership, credit cards
United Airlines is raising fees for its annual airport lounge membership and its reward credit cards, CNBC reports.
The airline will now offer two tiers of memberships to its United Club airport lounge network: an individual membership that costs $750 or 94,000 loyalty points a year and one that allows up to two guests for $1,400 or 175,000 loyalty points a year. It previously cost $650 a year for a membership, which allowed up to two guests.
The United Explorer card will be $150 a year from $95, the United Quest Card will be $350 a year from $250 and the United Infinite Card will be $695 a year from $525.