President Trump said he is imposing a 25% tariff on goods from any country “doing business” with Iran.
He said in a post on Truth Social, “Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America. This Order is final and conclusive.”
Some of Iran’s biggest trading partners include China, the United Arab Emirates, India and Turkey. China is the top global importer of Iranian crude.
In the meantime, the Supreme Court has yet to rule on the legality of Trump’s global tariffs. Should SCOTUS rule against the president, it could disrupt his ability to abruptly levy tariffs on countries trading with Iran. The next court opinion is Wednesday.
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We told you Monday here on Wall Street Breakfast that Federal Reserve Bank of New York President John Williams was set to speak at the Council on Foreign Relations in New York City.
During that presentation yesterday, Williams signaled that there is no rush for what would be a fourth consecutive interest-rate cut when the central bank meets again at the end of the month.
Williams said by reducing the target range for the federal funds rate by a cumulative 75 basis points last year, the FOMC has moved the modestly restrictive stance of monetary policy closer to neutral.
Fed funds futures traders largely anticipate the Fed to hold rates steady at the current target range of 3.50%-3.75%, with only a 5% probability of a rate cut at the FOMC meeting on Jan. 28.
“Monetary policy is now well positioned to support the stabilization of the labor market and the return of inflation to the FOMC’s longer-run goal of 2 percent,” he said.
Aldi is celebrating its 50th year in the United States this year with plans to keep expanding.
The discount grocery store is pursuing an aggressive expansion strategy with plans to open more than 180 new stores across 31 states by the end of 2026.
That pace of growth would bring Aldi’s total U.S. store count to nearly 2,800 locations, positioning the company to reach its ambitious target of 3,200 stores by the end of 2028.
Aldi will enter Maine as its 40th state and launch a five-year plan to enter Colorado, with more than 50 stores planned for Denver and Colorado Springs. In Phoenix, Aldi will open 10 new stores in 2026 with plans to reach 40 locations by 2030, while the Las Vegas region will see the company double its current store count by 2030.
To support the higher store count, Aldi is expanding its distribution network by 20%, with new centers planned in Florida, Arizona, and Colorado over the next three years.
Aldi management has consistently signaled that it can fund its expansion plans without public equity, so analysts do not expect an IPO announcement.
But what impact will this have on Aldi’s competitors that are publicly traded?
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Dow, S&P and Nasdaq futures are unchanged. Crude oil is up 1.3% at $60/barrel. Bitcoin is up 1% at $92,000. Gold is down 0.3% at $4,584.
