Business, Finance & Tech
Weight Watchers Files for Bankruptcy as Chinese Tariff Impact Hits U.S. Ports and Car Ownership Costs Surge
Major changes are reshaping the American economy this week, from tariffs hitting U.S. ports to rising auto costs and a major weight loss brand filing for bankruptcy.
Tariffs on Chinese Goods Hit U.S. Ports
The first cargo ships carrying goods from China with the new 145% tariffs have started to arrive at the Port of Los Angeles. As the trade impact begins to unfold, U.S. importers are canceling orders in anticipation of sharply higher prices. Of the 80 ships originally scheduled to arrive in May, about 20% have been scrapped, and an additional 13 vessels already canceled for June.
With fewer imports from China, American retailers are burning through existing stockpiles. But experts warn this stopgap won’t last much longer. Price hikes and product shortages are expected to emerge by summer.
Weight Watchers Files for Bankruptcy
Weight Watchers, now known as WW International, has filed for bankruptcy. The once-popular weight loss program has struggled to compete with the growing demand for newer medical weight loss solutions, such as GLP-1 drugs. Additionally, the company faces overwhelming debt.
WW says it hopes to eliminate about $1 billion in debt during the process and emerge as a publicly traded company in approximately 40 days. Despite the filing, it announced operations for members will continue as usual during the transition.
Car Ownership Costs Continue to Rise
Owning a car in the U.S. is becoming increasingly expensive. According to Kelley Blue Book, the national average cost for car repairs across all makes and models is now $838. And when adding routine maintenance and other hidden costs, the annual cost of vehicle ownership tops $6,600, according to a new Bankrate.com study.
Some transmission and engine repairs are so expensive that experts say it might be more economical to buy a new vehicle altogether — if possible.
Credit: CNN Newsource
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By: CNN Newsource
May 7, 2025
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