In today’s briefing:
- Ohayo Japan | Japan Targeted with 25% Tariff Rate
- Japan Morning Connection: Trumps Latest 25% Tariff Salvo on JP Unlikely to Be Final
- Furniture/Furnishings Weekly – July 7, 2025
- What’s New(s) in Amsterdam – 7 July (dsm-firmenich | Philips | TomTom)
Ohayo Japan | Japan Targeted with 25% Tariff Rate
- US stocks fell Monday as renewed tariff threats from President Trump rattled markets. The Dow dropped over 400 points, or nearly 1%
- Trump’s announcement of 25% tariffs on imports from Japan and South Korea starting August 1, part of a broader escalation
- Nissan announced it will raise 150 billion yen through a Euroyen-denominated convertible bond issue, targeting overseas markets
Japan Morning Connection: Trumps Latest 25% Tariff Salvo on JP Unlikely to Be Final
- Trump extending the implementation deadline leaves plenty of wiggle room for further negotiation.
- Renesas should be helped by the Wolf’s new restructuring hire and TPX FFW buying this month.
- Samsung numbers weak with failed NVDA accreditation weighing on outlook.
Furniture/Furnishings Weekly – July 7, 2025
- Progress on at least some trade deals (Vietnam) was seen as a positive in a holiday-shortened week of trading.
- The WTR Commercial/Contract Furniture Index gained 6.1%, the Residential Manufacturers & Suppliers Index was up 2.1%, and the Home Goods Retailers Index gained 7.0% as the broader market indices were up 1.7% and the R2K was up 3.6%.
- New home construction, on a per capita basis, in the US (and other anglophone countries) has effectively flatlined since the 1990s, leaving us with just as many dwelling units on a per capita basis as we had in the early 1990s, despite the fact that the total US population has increased by roughly 80 million (1).
What’s New(s) in Amsterdam – 7 July (dsm-firmenich | Philips | TomTom)
- Three candidates remain for the purchase of dsm-firmenich’s Animal Health & Nutrition (AHN) division: private equity firms CVC and Apollo, and Dutch feed producer Nutreco.
- This is reported by Dutch financial daily FD, citing anonymous sources. This deal, which has an estimated value of approx.
- EUR 2.8bn, is among the largest Dutch transactions of the year, though the acquisition environment remains subdued.
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