China’s leading new energy vehicle manufacturer BYD sold around 2.26 million electric vehicles (EVs) in 2025, surpassing Tesla in global EV sales last year.
U.S. electric automaker Tesla delivered about 1.63 million EVs in 2025, according to company data. Last year, BYD sold roughly 4.6 million new energy vehicles (NEVs).
BYD said it has expanded its market in China, while also increasing its overseas sales. Its European business has been robust and the company is exploring markets in Latin America and Southeast Asia. Notably, BYD is stepping up its local production efforts. The firm’s factory in Brazil started operation last year.
It all really kicked off in April with a comically giant board at the White House.
And eight months after Donald Trump’s so-called liberation day, the impacts of the US president’s sweeping tariff agenda are still reverberating here in Australia.
Felicity Deane says if these tariffs are deemed illegal, there could be financial consequences for the US. (Supplied: Felicity Deane)
Local fashion brands, toy manufacturers and others continue to reassess how they do business in the United States, and some still have not recovered from the economic uncertainty caused by tariffs.
The bumpy ride could continue, with America’s highest court set to rule as soon as this month on whether Mr Trump’s “reciprocal” tariffs on countries globally are actually legitimate.
“It could be really interesting,” trade expert Felicity Deane says.
“(If the US Supreme Court says) these tariffs are illegal, they might have to repay companies who’ve been paying tariffs,” the QUT professor adds.
Impact on business
Sun protection brand The Nashie is one Australian business that has already been paying tariffs — a form of tax — on the garments it sells in America.
Like many Australian companies selling into the US, the brand is paying far higher tariffs than the 10 per cent baseline that Australia received all 2025.
That is because The Nashie makes its goods in China, which spent much of last year embroiled in a tit-for-tat tariff situation with the US that is still playing out.
The Nashie pays its tariff bills directly when it imports them to a distribution warehouse in Utah. Its co-founder, Tom Wilson, is there now, grappling with a changing business climate.
Tom Wilson at his warehouse in Utah. (Supplied: The Nashie)
“We are seeing reduced demand in the US,” he says, and believes American consumers are “spooked” by tariffs.
Core data out of the US also shows that consumer confidence is deteriorating.
Just before Christmas, chief economist at The Conference Board, Dana Peterson, told Reuters that consumers are led by what is happening in the economy.
“References to prices and inflation, tariffs and trade, and politics,” she said.
Beatrice Toh from Australian toy brand HeyDoodle is also grappling with reduced sales.
Beatrice Toh founded the silicone reuseable colouring book company, HeyDoodle. (ABC News: Emilia Terzon)
She had only just signed deals to sell her reusable drawing pads into American department stores when Mr Trump’s tariff mandate kicked off.
“The biggest impact we’ve felt this year hasn’t been the direct cost of tariffs, but the effect they’ve had on customer confidence,” she says of her businesses’ fortunes eight months later.
“That caution has also flowed through to retail.
“We’ve unfortunately lost some wholesale stockists as physical stores were forced to close due to reduced foot traffic and tighter margins, which has had a ripple effect across the supply chain.”
Ms Toh plans to keep navigating this changing environment. It is the same deal for The Nashie’s Mr Wilson, despite referring to the current tariff situation as “the wild west”.
“Honestly, a high tariff is manageable as consumers are expecting the cost to be passed on. But when they are so unpredictable, it stifles business,” Mr Wilson says.
“We have raised US prices to absorb the tariff cost, but have not raised Australian prices to absorb USA tariffs.”
The end of ‘de minimis’
One of the most disruptive elements for Australian exporters into the US in 2025 was not so much individual categories being targeted, but the end of an exemption for taxes on smaller-value goods.
The end of the so-called de minimis exemption not only rocked online retail but also led to postal carriers globally, including Australia Post, making a temporary snap decision to halt most shipping into the US.
Fashion brand Apero is still struggling to integrate orders into the US using Australia Post’s systems and is starting the new year with a different e-commerce provider.
The company’s co-founder, Laz Smith, says they are hoping to grow US sales again in 2026.
“The removal of de minimis has affected our brand, with up to 30 per cent of our revenue previously coming from the US market,” he said.
“We have not seen any meaningful support from Austrade or the Australian government, and brands have been left to navigate this huge period of uncertainty on their own.”
Back on “liberation day “in April, the Australian government pledged $50 million for stressed exporters, with details of what this meant only coming months later in 2025.
This funding under a so-called Accessing New Markets Initiative (ANMI) is described as a scheme that “brings together national peak industry bodies and Austrade”.
It has so far resulted in initiatives for fresh produce growers in Hong Kong, local companies that deal with Peru, and brokered meetings for fine foods brands.
Yet some Australian companies that ABC News has reached out to are still feeling frustrated about their interactions with Austrade as they go into 2026.
“I think to the government, this is yesterday’s issue and businesses are on their own,” The Nashie’s Mr Wilson says.
In a statement, Trade Minister Don Farrell said ANMI had delivered “five business missions in our first 100 days of being re-elected” in May.
“We will have more to say on the final composition of remaining ANMI programs in the near future,” he said.
The owner of one Australian brand also impacted by tariffs, Bond Eye, told ABC News they had found the work of the fashion industry’s lobby group helpful.
The swimwear brand joined others at an industry event held in Hong Kong by the Australian Fashion Council in September, and the brand is still selling its garments in the US.
“We didn’t make any knee-jerk decisions and we stayed calm,” founder Steve Philpott said.
“We absorbed the costs and stayed loyal to our factories and supply chain partnerships, which was reciprocal.”
Possible olive branch
While QUT’s Professor Deane says she has never seen a year quite like 2025 when it comes to global trade, she believes the situation with US tariffs is “settling down”, as Mr Trump “has other problems to deal with”.
US President Donald Trump created worldwide economic instability in 2025 with global tariffs. (AP: Alex Brandon)
As the festive season wraps up, there has been more news about tariffs out of the US, with the president offering an olive branch for Italian pasta brands and delaying taxes on imported furniture.
“The other thing that may have stopped him a little in his tracks is inflation,” Professor Deane says.
“People have stopped throwing their toys out of the pram.”
Her advice to Australian exporters in 2025 is to wait out the US Supreme Court decision on tariffs — which could deliver another curveball — and just be nimble.
“Don’t limit your options when it comes to other markets,” she says.
Fits the 2014-2018 Mazda 3 2.0L & 2.5L throttle body perfectly. It should fit the 2014-2017 Mazda 6 as well.
Fishstick
Reviewed in the United States on January 30, 2024
worked great.
someone
Reviewed in Canada on July 17, 2020
A bit pricy but it fits perfectly on my 2.5L skyactiv engine
Tom Monczka
Reviewed in the United States on December 1, 2020
Replaced this when removing the throttle body for cleaning on a 2014 Mazda 3 2.5. Exact fit and no hassle. Convenient to order here with quick delivery.
Kevin Holland addressed the state of the industry in the region in a year-end interview with Dougall Media.
EAR FALLS — It’s still uncertain times for forestry in Northwestern Ontario, but the provincial minister for the sector says his government is on the right track to help heading into the new year.
Associate Minister of Forestry and Forest Products Kevin Holland said international trade strife and the subsequent ripple effects continue to batter the industry.
“Forestry, we know, has got some challenges right now … with regards to some of the duties and tariffs that are coming from south of the border and the impact it’s having,” he said. “But it really goes beyond the duty and tariff rates that have been imposed.”
“It’s the uncertainty that’s being caused, not just in forestry, but in a lot of the sectors across society that is really cooling down some of the investments at a time where we’re well positioned to see tremendous growth that would support the forestry sector.”
The industry in northern Ontario saw a fair bit of bad news in 2025, with the “temporary” (according to the company) but indefinite curtailment of operations at the Interfor sawmill in Ear Falls, confirmed holiday-period pauses at facilities near Atikokan and Ignace, the announced idling of the Kap Paper mill in Kapuskasing before a provincial-federal bailout secured its short-term future, and renewed concern over any viability of the mill in Terrace Bay.
“We’re seeing people are being a little bit more cautious, a little bit more reserved on doing some of those plans and construction plans that they had,” Holland said of the uncertain state of things.
The minister said the government did put forward programs and funding commitments in 2025 to help the embattled sector.
In the Northwest, in July, Ontario announced over $6 million for eight biomass projects; two months later, a $30 million package was unveiled in Thunder Bay, with about one third of that going to Ontario sawmills while they find new markets for byproducts of their operations, like wood chips.
Earlier in December, the province announced an advanced wood construction working group to implement an action plan designed to encourage the use of wood in more types of construction.
Holland said he’s travelled thousands of kilometres “meeting with key stakeholders in the industry and our partners about what we can do to help position them to take advantage when things turn.”
“Things will get better, there will be that turn,” he said. “But we need to make sure that we’re in that position to take full advantage of those opportunities when they present themselves.”
“This is the message I’ve been getting from the stakeholders and from the forestry sector all across the province is measures that we can do to make sure that the sector is in a good position,” Holland continued.
“And we’ve put in those initiatives, and I’m quite confident that they’re going to help sustain the sector moving forward.”
Asked about the future of the AV Terrace Bay mill, and whether it would be heated over the winter, Holland said that “we continue to have conversations with AV Terrace Bay on the mill there, and those conversations are ongoing.”
He said, overall, the sector will continue to face challenges, but the province will continue to work with stakeholders.
“I think we’ve done a lot of the groundwork that we need to be doing to position us well for moving forward in 2026,” Holland said.
Matt Prokopchuk, Local Journalism Initiative Reporter. Supported by the Local Journalism Initiative — a federally funded program that fosters the creation of original, independent local journalism covering important civic issues in underserved communities.
Wales & West Utilities said people affected should not switch their gas supplies off, despite earlier advice from a local authority.
It said: “We are aware that some information has been issued by a third party advising customers to switch their own gas off. This advice should not be followed at this time.”
A company spokesperson said, external: “A third-party has damaged our gas main near Kingsbridge in Devon and we are aware that this is affecting gas supplies to customers in the area, as well as in Marlborough and Salcombe.
“Since being made aware of the damage caused to our pipe, our engineers have been on site planning the necessary repair and are now beginning the process of undertaking the work.
“This is a very challenging repair and it is too early at this stage to say how long it will take to fully restore supplies, however customers should be prepared for an interrupted gas supply for a few days.”
The company said it will update customers as the repair work continues.
“We have also been working hard making arrangements for customers in the area registered on the Priority Services Register to be provided with alternative cooking and heating facilities. We are working to reach these customers as quickly as we can and would ask for patience as we work our way around them.
“In the meantime, we would ask anyone who is aware of a family member or neighbour who may be vulnerable to check in on them until we reach them.
“We are also liaising with the local council to understand what additional support they can provide.
“We would like to thank people for bearing with us as we work to repair the damaged pipe and deal with the disruption it has caused.”
A further update would follow on Sunday morning, the company added.
Norwich Airport says it has had to cancel flights and close due to weather conditions.
The airport reported that it had closed until 16:00 GMT on Saturday after snow, which came after a yellow weather warning for snow and ice was issued by the Met Office.
It said seven flights between the city and Amsterdam, from 3 until 5 January, were cancelled due to weather conditions in the Netherlands.
It encouraged people to contact their airline before travelling to the airport.
Philadelphia Fed President and CEO Anna Paulson gave a presentation at the 2026 Allied Social Science Associations (ASSA) annual meeting. She participated in a panel discussion titled Lifetime Experiences and Implications for Monetary Policy.
In addition to her presentation, President Paulson coauthored the essay “Does Experiencing High Inflation Change Economic Behavior?” Download and read the full essay.
Lifetime Experiences and Economic Behavior
You can view the slideshow that accompanied President Paulson’s presentation at the 2026 ASSA meeting where she participated on a panel titled Lifetime
Experiences and Implications for Monetary Policy. Download a PDF of this presentation.
The audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results.
A grocery store in Squamish, B.C., continued to serve the community even when it was closed for Christmas Day.
Stong’s Market store manager Devon Crane said they wanted to make sure the community was taken care of while the shop was closed.
So, after it closed on Christmas Eve, staff placed commonly forgotten cooking items and food on a table outside the store for people to take, free of charge.
“As you know, on Christmas, everything’s closed, so there’s not many options,” Crane said.
WATCH | Squamish grocery store helps out during the holidays:
Squamish grocery store leaves commonly forgotten Christmas items outside shop for free
Staff at Stong’s Market in Squamish, B.C., left a few commonly forgotten items outside the store on Christmas Eve after closing. The items were free for people to take over Christmas as needed. As CBC’s Alanna Kelly reports, most of the items were taken and the community paid back with kindness, by donating to Squamish Helping Hands Society.
Not only did people take the items, but they also made a kind gesture to other people by donating hundreds of dollars.
“Turkey bags, your gravy, your poultry seasoning, little things like that,” Crane said.
Among the items on the table was a sign with a QR code asking people to consider donating to those in need at Squamish Helping Hands Society — which provides shelter, food, and support to people experiencing homelessness — in exchange for taking an item.
The small table was filled with many of the most often forgotten items for Christmas dinner. (Erin Peters)
Stong’s was able to track that eight people had scanned the QR code, but it couldn’t track the total donations.
Lori Pyne, executive director at Squamish Helping Hands, said the organization hadn’t expected the kind gesture.
“I did not know they were doing it, it came to me from a community member. I think it’s fantastic,” Pyne said.
Security footage shows people walking up to the closed grocery store and taking the items left outside (Stong’s Market)
The organization received $353 through scanned donations between Christmas Eve and Christmas Day, Pyne said.
Pyne said it’s important to recognize that people’s needs differ widely.
“I think it’s important that Stong’s recognized that vulnerable people are people too, and that those donations were meant for people in need, but also for people that needed something that they forgot [to buy],” Pyne said.
“It’s just really important that we all support each other at Christmas,” Crane said.
Grocery store staff were thrilled to hear how much money was raised for the charity. (Alanna Kelly/CBC)
Bank of America is expecting an uptick in dividend payouts in 2026. Dividend growth has historically lagged the growth of earnings per share by about three quarters, said Savita Subramanian, the firm’s head of U.S. equity and quant strategy. With the S & P 500 likely having seen a strong year of EPS growth in 2025, dividend growth should follow, she said. Subramanian is forecasting 8% year-over-year dividend growth in 2026, up from 7% in 2025. “There is ample room for companies to increase dividends, as the S & P 500’s dividend payout ratio sits near its record low at 30%,” she wrote in a note Wednesday. “We believe we are in a total return world, where dividends should contribute more to total returns than the prior decade.” In this environment, Subramanian advises investors to look for companies that have yields that are above market but are not stretched. The S & P 500 currently yields around 1.1%. To find those names, Subramanian and her team first looked at companies in the Russell 1000 index . Then they calculated and ranked companies by their trailing 12-month yield, re-running the screen each month. Those in the second quintile of dividend yielders are less likely to include distressed companies that may migrate up to the first quintile — that is, the highest dividend yield group — if their stock price falls ahead of potential dividend cuts, Subramanian said. Here are some of the stocks that made Bank of America’s latest list. Investors can earn an attractive yield of about 4% with Reynolds Consumer Products . The maker of Hefty trash bags and Reynolds Wrap reported a revenue beat in October for its third quarter, per FactSet. It also topped expectations for adjusted earnings before interest, taxes, depreciation and amortization, but its adjusted earnings per share fell slightly short. Reynolds is winning during a challenging environment, CEO Scott Huckins said in the earnings release. “We are becoming a more agile organization, while implementing programs that leverage the growth and earnings potential of our US-centric business model,” he said. REYN 1Y mountain Reynold’s Consumer Products one-year performance The stock has an average analyst rating of overweight and 20% upside to the average price target, according to FactSet. Shares have fallen 14% over the past year. Macy’s also made the cut. The department store posted its strongest growth in more than three years in December. Its fiscal third-quarter adjusted earnings came in at 9 cents per share, versus the 14-cent loss anticipated from analysts polled by LSEG. Its quarterly revenue also topped expectations. In addition, Macy’s raised its full-year sales and earnings guidance, although it was cautious around holiday spending. The company is in the midst of implementing a turnaround strategy that includes investing in staffing and shuttering lower-performing stores. The stock has an average rating of hold and roughly 5% downside to the average price target, per FactSet. Shares have a dividend yield of 3.2% and have gained about 37% over the past year. Meanwhile, Prologis has jumped nearly 24% in the past 12 months. Shares yield 3.1%. The real estate investment trust, which focuses on warehouses and e-commerce fulfillment centers, raised its 2025 guidance for core funds from operation, or FFO, guidance back in October. FFO is a key measure of cash generated from a REIT. Business has been improving after experiencing vacancies, CEO Hamid Moghadam told CNBC’s Jim Cramer after the company’s latest earnings in October. “Today, we’re at a trough,” Moghadam said. “We already see signs of companies committing to significant amount of space, particularly the strong ones.” PLD 1Y mountain Prologis one-year performance Analysts covering the stock give it an average rating of overweight, per FactSet. It has 3.3% upside to the average price target. Lastly, Exxon Mobil is among the energy names on the list. The stock, which has a dividend yield of about 3.4%, has gained 14% over the past year. Notably, it closed above $120 for the first time in 2025 as the year drew to a close, Jay Woods, chief market strategist at Freedom Capital Markets, pointed out on Friday . That threshold is seen as a key level of resistance. “The risk/reward is looking good and potentially great,” Woods said. “We have eclipsed that $120 level and hope to keep trending above there as we attack major resistance at $126.” Analysts covering the oil giant give it an average rating of overweight, according to FactSet. It has 7.4% upside to the average price target.
