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Month: May 2025

How a Chinese delicacy got caught in the crossfire of Trump’s trade war

How a Chinese delicacy got caught in the crossfire of Trump’s trade war

By SALLY HO and MANUEL VALDES

SUQUAMISH, Wash. (AP) — For over two decades, Suquamish tribal member Joshua George has dived into the emerald waters of the Salish Sea looking for an unusually phallic clam that’s coveted thousands of miles away.

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George is a geoduck diver. Pronounced “gooey-duck,” the world’s largest burrowing clam has been harvested in tidelands by George’s Indigenous ancestors in the Pacific Northwest since before Europeans arrived.

In recent years it has also become a delicacy in China, with Washington state sending 90% of its geoducks there, creating a niche yet lucrative American seafood export. read more

People on the move

People on the move

Cultural arts

Jennifer Deery was appointed executive director of the Albin Polasek Museum & Sculpture Gardens, Winter Park.

Hospitality

Steven Goldsmith has joined Westgate Resorts as vice president of communications and public relations.

Law

Jennifer Powers has joined Dean Mead, Orlando, as an attorney for the firm’s real estate and financial institution teams.

Real estate

Jon Chapman was appointed area vice president at Bainbridge, Orlando.

Other

Kevin Klauer was appointed president and chief executive officer of Shepherd’s Hope, which provides free, quality healthcare for uninsured children, women and men in Central Florida.

Submit professional appointments, management-level promotions and significant awards for individuals, along with photos as .jpg attachments, to peopleonmove@orlandosentinel.com.

Average rate on a US 30-year mortgage holds steady at 6.76%, not far from highest levels this year

Average rate on a US 30-year mortgage holds steady at 6.76%, not far from highest levels this year

By ALEX VEIGA, AP Business Writer

The average rate on a 30-year mortgage in the U.S. held steady this week, not far from its highest levels this year, but below where it was a year ago.

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The rate stood at 6.76% for the second week in a row, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.09%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, eased. The average rate dropped to 5.89% from 5.92% last week. It’s down from 6.38% a year ago, Freddie Mac said.

Mortgage rates are influenced by several factors, including global demand for U.S. Treasurys, the Federal Reserve’s interest rate policy decisions and bond market investors’ expectations about the economy and inflation. read more

Wall Street rallies on hopes for trade deals that could forestall a recession

Wall Street rallies on hopes for trade deals that could forestall a recession

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks are rallying Thursday after the United States and United Kingdom announced a deal on trade that would lower some tariffs and restrictions between the two countries, the first of what Wall Street hopes will be enough agreements to keep a recession from hitting the economy.

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The S&P 500 was 1.4% higher in midday trading and on track for an 11th gain in the last 13 days. The Dow Jones Industrial Average was up 566 points, or 1.4%, as of 11:45 a.m. Eastern time, and the Nasdaq composite was 1.8% higher. read more

The EU publishes a US product hit list and prepares for WTO action against Trump’s tariffs

The EU publishes a US product hit list and prepares for WTO action against Trump’s tariffs

By LORNE COOK, Associated Press

BRUSSELS (AP) — The European Union published on Thursday a list of U.S. imports that it would target with retaliatory duties if no solution is found to end U.S. President Donald Trump’s tariff war, which could include aircraft maker Boeing.

At the same time, the EU’s executive branch, the European Commission, said that it would begin legal action at the World Trade Organization over the “reciprocal tariffs” that Trump imposed on countries around the world a month ago.

“The EU remains fully committed to finding negotiated outcomes with the U.S.,” commission President Ursula von der Leyen said. “At the same time, we continue preparing for all possibilities.”

The commission manages trade deals and disputes on behalf of the 27 EU countries.

In early April, Trump imposed a 20% levy on goods from the EU as part of his tariff onslaught against global trading partners. A week later he paused them for 90 days to give countries a chance to negotiate solutions to U.S. trade concerns. read more