What does the closure of the de minimis loophole mean for shoppers?

What does the closure of the de minimis loophole mean for shoppers?
What does the closure of the de minimis loophole mean for shoppers?
Chip Somodevilla/Getty Images

(WASHINGTON) — A tariff loophole for low-cost shipments helped fuel an explosion of U.S. consumers purchasing shoes, sunglasses and a host of other items directly from sellers overseas. The Trump administration closed that exemption on Friday, bringing the era of duty-free online buying to an end.

President Donald Trump closed what’s known as the “de minimis” loophole, which allowed for duty-free import of goods valued at less than $800. Now, such imports will face tariffs based on the relevant rates for a given country of origin or product.

Peter Navarro, senior counselor to the president for trade and manufacturing, said on Thursday that the move would add up to $10 billion in tax revenue and help “save thousands of American lives by restricting the flow of narcotics and other dangerous and prohibited items.”

Analysts who spoke to ABC News predicted delays and price increases for shoppers, though the precise impact remains uncertain as retailers and customers adapt to the new tariffs.

Here’s what to know about how the closure of the de minimis loophole could impact consumers:

What is happening with the de minimis loophole?

The Trump administration on Friday closed the de minimis loophole, meaning imported packages below $800 will be subject to tariffs.

In May, the exemption expired for shipments from mainland China and Hong Kong, prompting e-commerce companies Shein and Temu to warn of price increases. The move on Friday extends the policy to imports from all other countries.

Low-cost imports brought via delivery services like FedEx and DHS will face country-specific tariff rates, which range from 10% to 50%. Tariffs targeting product types, such as steel and aluminum, may also be applied.

Packages delivered by a foreign postal service will be subject to tariffs levied under the International Emergency Economic Powers Act, which depend on a given country of origin.

Over the past 10 years, the number of shipments to the U.S. claiming the de minimis exemption soared 600%, U.S. Customs and Border Protection, or CBP, said in January. Last fiscal year, there were more than 1.36 billion such shipments, which amounts to almost 4 million per day, CBP said.

A small loophole remains in the policy. Gifts valued at $100 or less will continue to be duty-free.

Will closure of the de minimis loophole cause shipping delays?

Yes, the closure of the de minimis loophole is expected to delay low-cost shipments from overseas, especially over the coming months as foreign sellers adjust to the rules, analysts told ABC News.

Postal service operators in more than 30 countries have limited or halted shipments to the U.S. in anticipation of the policy adjustment. The list includes significant trade partners like India, Mexico and Japan.

Under the new policy, foreign postal services are required to calculate the tariff cost prior to sending a parcel bound for the U.S., Henry Jin, a professor of supply chain management at Miami University, told ABC News.

“The administrative burden is tremendous,” Jin said.

Packages previously shipped in five to 10 days may take as long as 20 days to reach customers, Jin added.

“If you absolutely need something by a certain deadline, buy it well before,” Jin said. “Or else you will run the risk of not getting it in time.”

Will closure of the de minimis loophole raise prices?

Yes, analysts who spoke to ABC News expect closure of the loophole to raise prices.

The policy change essentially amounts to a new tariff applied to low-cost items, meaning importers will face an additional tax. Importers typically pass along a share of the tariff-related tax burden onto consumers in the form of price hikes.

In the case of imports shipped directly to customers, foreign retailers will retain a choice of whether to eat the added cost or slap it onto the bill paid by shoppers, Jin said. Suppliers may swallow some of the added cost by selling their goods at lower wholesale prices, Jin added, but such relief is likely to be minimal.

Additional compliance costs faced by retailers will also likely be passed along to consumers, analysts said.

“It will significantly raise the transportation cost on top of the cost of the tariffs, which will ultimately raise prices for consumers,” said Raymond Robertson, professor for trade, economics and public policy at Texas A&M University.

Copyright © 2025, ABC Audio. All rights reserved.

Powerball jackpot hits $1B for Labor Day weekend drawing

Powerball jackpot hits B for Labor Day weekend drawing
Powerball jackpot hits $1B for Labor Day weekend drawing
A customer holds a Powerball lottery ticket after purchasing it at the Downtown Miami Souvenirs store on August 26, 2025 in Miami, Florida. (Joe Raedle/Getty Images)

(NEW YORK) — The dream of becoming America’s next billionaire is up for grabs this Saturday night as the Powerball jackpot climbed to $1 billion, sending ticket sales soaring across the nation ahead of the Labor Day weekend drawing.

Game officials increased the jackpot estimate Friday morning from $950 million after reviewing national ticket sales, Powerball said. The winner could opt for a cash payment of $453.1 million before taxes.

“We’re bringing extra excitement to Labor Day Weekend with a Powerball jackpot that’s climbed to a billion dollars!” Powerball Product Group Chair and Iowa Lottery CEO Matt Strawn said in a press release.

The game hasn’t seen a jackpot winner since May 31, when a California player claimed a $204.5 million prize. During this 39-drawing streak, the game has created 62 million-dollar winners and 608 tickets worth $50,000 or more.

Wednesday’s drawing saw six tickets match all five white balls — 9, 12, 22, 41 and 61 — with red Powerball 25, each winning $1 million or more.

Winners of Saturday’s jackpot can choose between annual payments or the lump sum. The annuity option provides one immediate payment followed by 29 annual payments that increase by 5% each year.Powerball tickets cost $2 per play and are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. The odds of winning the jackpot are 1 in 292.2 million, while the overall odds of winning any prize are 1 in 24.9.

The game has generated more than $36 billion for good causes supported by U.S. lotteries since its first drawing in 1992, Powerball noted. More than half of ticket sale proceeds remain in the jurisdiction where the ticket was sold, according to Powerball.

The current jackpot ranks sixth among Powerball’s largest prizes. The record stands at $2.04 billion, won by a California player in November 2022, followed by the $1.765 billion prize claimed in California in October 2023.

Other notable jackpots include the $1.586 billion split among winners in California, Florida and Tennessee in January 2016, the $1.326 billion won in Oregon in April 2024, and the $1.08 billion claimed in California in July 2023.

Saturday’s drawing will be broadcast live at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee and streamed on Powerball’s website.

Copyright © 2025, ABC Audio. All rights reserved.

University of Miami football player Adarius Hayes charged with vehicular homicide in deadly May crash

University of Miami football player Adarius Hayes charged with vehicular homicide in deadly May crash
University of Miami football player Adarius Hayes charged with vehicular homicide in deadly May crash
Miami Hurricanes’ Adarius Hayes catches a pass during spring practice at the Carol Soffer Indoor Practice Facility at the University of Miami on Wednesday, March 5, 2025, in Coral Gables, Florida. (D.A. Varela/Miami Herald/Tribune News Service via Getty Images)

(MIAMI) — University of Miami football player Adarius Hayes has been arrested and charged with vehicular homicide following a monthslong investigation into a car crash that killed three people in Florida, police said Friday.

Hayes, 20, turned himself into the Largo Police Department and was transported to the Pinellas County Jail on Friday, police said.

Hayes was “traveling at a high rate of speed and maneuvering aggressively through traffic” shortly before colliding with another vehicle on May 10, Largo police said.

Three people, including two children, were killed in the crash, police said.

The two-vehicle crash occurred at an intersection in Largo, police said. Hayes was driving a Dodge Durango, which collided with a Kia Soul that was “lawfully executing a left-hand turn,” police said.

“It was discovered during the investigation that approximately five seconds prior to the fatal crash, Hayes made a rapid and dangerous maneuver, changing lanes from the curb lane to the median lane, crossing three lanes of traffic while overtaking other vehicles,” the Largo Police Department said in a press release. “Moments later, Hayes abruptly re-entered the curb lane, again crossing all three lanes without signaling.”

 A search warrant on Hayes’ vehicle determined that he was traveling 78.9 mph in a 40 mph zone at the time of the crash, police said.

Two children who were traveling in the backseat of the Kia Soul were ejected from the car and were pronounced dead at the scene, police said. The driver of the Kia Soul was transported with life-threatening injuries to an area hospital, where she died the following day, police said.

An adult front passenger in the Kia Soul was taken to a hospital with serious injuries and survived, police said.

Officers spoke with multiple eyewitnesses and reviewed video surveillance as part of their investigation into the crash, police said.

“The investigation concluded that Adarius Hayes’ egregious speed, aggressive and reckless lane changes, and complete disregard for surrounding traffic conditions demonstrated a willful and deliberate disregard for the safety of others, constituting reckless driving,” police said. “These actions directly led to the tragic deaths of the three victims.”

Hayes, who is a sophomore at Miami, was one of the top linebacker recruits in the country in 2024. A star at Largo High School, he was ranked as the 78th-best overall player in the country and sixth-best linebacker in the country by ESPN. He chose the Canes over such powerhouse programs as Alabama, Florida and Georgia.

He played sparingly as a freshman, mostly on special teams, but was expected to play a bigger role in 2025. Miami, ranked No. 10 in the country, hosts No. 6 Notre Dame in both schools’ first game of the season on Sunday.

This is a developing story. Please check back for updates.

Copyright © 2025, ABC Audio. All rights reserved.

Grief turns to hope as Minneapolis rallies behind kids hurt in school shooting

Grief turns to hope as Minneapolis rallies behind kids hurt in school shooting
Grief turns to hope as Minneapolis rallies behind kids hurt in school shooting
People gather at Lynhurst Park where a candle light vigil was being held for the victims of the Annunciation Catholic School shooting in Minneapolis. (Christopher Mark Juhn/Anadolu via Getty Images)

(MINNEAPOLIS) — Over 100 people gathered across the street from the children’s ward at Minneapolis’ Hennepin County Medical Center to pray for the kids recovering there after they were shot at the Annunciation Catholic School this week.

Teachers, students and nurses, as well as police officers who had heard about the Thursday night candlelight vigil over their dispatch radios, all joined together for a moment of silence, united in a shared sense of grief and hope after Wednesday’s mass shooting.

“This is every nurse/mother’s worst nightmare, and worst fear come true,” a flyer for the vigil said. “We’d like anyone who is interested to come join us to light up [Minneapolis] with candlelight, love, and support, for the kids, their families and our staff.”

One of those victims is 12-year-old Sophia Forchas, who is in critical condition after undergoing surgery. It’s a tragedy that struck her entire family at once — her younger brother was inside Annunciation Catholic School at the time of the shooting and her mom is a pediatric nurse at the hospital where Sophia was admitted.

“Sofia’s mother was called into work, and only to find out when she arrived that her daughter was one of the victims, unfortunately,” Father Timothy Sas of St. Mary’s Greek Orthodox Church told ABC News.

“No priest is ever prepared enough to offer consolation for a moment like this,” he said.

He described Sophia as “luminous” and “bright,” an active student at school and in church.

“She’s pulled through, and we need about two, three days before they can understand what her future prognosis is,” he said.

The gunfire erupted during Wednesday morning Mass, when a shooter opened fire through the windows of the school’s church, killing an 8-year-old boy, Fletcher Merkel, and a 10-year-old girl, Harper Moyski.

Eighteen people — including 15 kids — were injured. All injured victims are expected to survive, police said.

The 23-year-old shooter, who previously attended the school, died at the scene from a self-inflicted gunshot wound, police said. A motive remains unknown.

Copyright © 2025, ABC Audio. All rights reserved.

Trump revokes Kamala Harris’ Secret Service detail extended by Biden

Trump revokes Kamala Harris’ Secret Service detail extended by Biden
Trump revokes Kamala Harris’ Secret Service detail extended by Biden
Former U.S. Vice President Kamala Harris delivers a keynote address during the Emerge 20th Anniversary Gala at the Palace Hotel on April 30, 2025 in San Francisco, California. (Justin Sullivan/Getty Images)

(WASHINGTON) — President Donald Trump revoked Secret Service protection for former Vice President Kamala Harris, according to a copy of the letter reviewed by ABC News.

The executive memorandum was issued Thursday afternoon by Trump, who sent it to Department of Homeland Security Secretary Kristi Noem, according to a senior official.

“You are hereby authorized to discontinue any security-related procedures previously authorized by Executive Memorandum, beyond those required by law, for the following individual effective September 1, 2025: Former Vice President Kamala D. Harris,” the White House memorandum to the Secretary of Homeland Security states.

Before leaving office, former President Joe Biden extended Harris’ protective detail an additional year — on top of the six months she is required by law to have a Secret Service detail as the former vice president, according to multiple officials.

A senior White House official confirmed to ABC News that Trump revoked Secret Service protection for Harris via the letter.

The official highlighted that vice presidents “typically only have a detail for six months.”

This is just the latest protection detail the president has canceled early. In March, he canceled former Secretary of Homeland Security Alejandro Mayorkas’ detail, along with the details of the Biden children, John Bolton and former Secretary of State Mike Pompeo.

“The Vice President is grateful to the United States Secret Service for their professionalism, dedication, and unwavering commitment to safety,” Kristen Allen, a senior advisor to Harris, said in a statement to ABC News.

ABC News’ Isabella Murray contributed to this report.

Copyright © 2025, ABC Audio. All rights reserved.

House Speaker Mike Johnson weighs in on CDC turmoil, Epstein files and more on ‘Good Morning America’

House Speaker Mike Johnson weighs in on CDC turmoil, Epstein files and more on ‘Good Morning America’
House Speaker Mike Johnson weighs in on CDC turmoil, Epstein files and more on ‘Good Morning America’
Speaker of the House Mike Johnson appears speaks with ABC News while appearing on “Good Morning America,” Aug. 29, 2025. ABC News

(NEW YORK) — House Speaker Mike Johnson, on “Good Morning America” on Friday, weighed in on turmoil at the Centers for Disease Control and Prevention, the Minneapolis school shooting and what’s next for Congress on the Jeffrey Epstein files.

Johnson defended Health and Human Services Secretary Robert F. Kennedy Jr. after a mass exodus at the CDC spurred by the administration’s termination of the agency’s director, Susan Monarez.

The speaker was also pressed on whether he would allow a floor vote to compel the Justice Department to release the Epstein files, and whether the House would take action on gun violence in the wake of the mass shooting at Annunciation Catholic School.

Congress returns next week from its monthlong August recess. Here are highlights from Johnson’s interview.

Johnson says CDC shakeup ‘needed’

“Well, I think overall, Secretary Kennedy is doing a great job,” Johnson said when asked about the tumult at the CDC.

“There’s been a shakeup that’s been needed there, and I think we’ve got to trust the secretary to do his job,” the speaker added. “They’ve had some great results there. We’re getting America healthy again — that’s well received across the country, and long overdue, in my view, so we’re going to let the Cabinet do their job, and I’m going to stay in my lane and do mine.”

Asked about vaccine availability for Americans and overall trust in the CDC following this week’s showdown, Johnson said “let’s see how all that sorts out.”

“The CDC plays an important role in the government and in our society, and we want it to be strong, and we want it to be restored to its original intent,” Johnson said. “The secretary’s made a good point that the existing leadership was not — not doing that.”

Johnson on whether House will vote on Epstein files

When lawmakers return to Washington, so will a renewed push for the complete release of the Epstein files from Justice Department.

Johnson will be faced with a bipartisan effort, led by Democratic Rep. Ro Khanna and Republican Rep. Thomas Massie, to force a floor vote on their discharge petition.

“If it’s necessary, we will,” Johnson said of having a vote on the discharge petition on the floor, despite previously calling their bill “reckless” and ending the legislative session early in July over the Epstein controversy.

But Johnson said he believed it wouldn’t be needed after the Justice Department handed over thousands of Epstein documents to the House Oversight Committee last week.

“I think what’s happened over August, over the last few weeks, has probably mooted that — the necessity of legislation,” Johnson said.

Khanna has criticized the Justice Department’s release to the committee, saying much of it was information that was already public and that lawmakers still need to pass his bill.

Johnson addresses Minneapolis shooting

Following the deadly school shooting in Minnesota, which left two children dead and 18 people injured, Johnson did not point to any new legislation that would address gun violence or mental health that could be brought up in Congress, but said he is “always open for that” discussion.

“Listen, it’s important that politicians on either side of the aisle do not politicize a moment like this,” Johnson said. “There are many commonsense measures that can and should be taken to protect children at schools and churches that do not involve taking away the constitutional rights of law-abiding American citizens.”

“At the end of the day, the problems in these situations is not the guns, it’s the human heart, and we can put more resources towards treatment of mental health,” Johnson said.

The speaker said that he is open to “any bipartisan solution that can address these kinds of issues that actually go to the heart of the matter.”

Johnson talks ‘Big Beautiful Bill’

Many Republican lawmakers spent August recess hearing from constituents after the passage of President Donald Trump’s sweeping tax and spending bill, with some town halls turning heated over the matter.

This week, Trump suggested the legislation needed a rebranding, saying the phrase “big beautiful bill” was “not good for explaining to people what it’s all about.”

Pew Research Center poll released earlier this month found just three in 10 Americans approve of Trump’s signature tax and budget bill.

Johnson, on “Good Morning America,” pushed back against the poll numbers and claimed individual provisions in the bill are more popular than surveys show once they are explained to the public.

“What we did over the August district work period is all the Republican members of Congress, Senate and House, went out, fanned out across the country in their districts, and talked with the American people about the extraordinary provisions that are in this bill,” the speaker said.

“It is aptly named. It is big and it is beautiful, and every single American is going to benefit from it,” Johnson said.

Copyright © 2025, ABC Audio. All rights reserved.

Body of missing hiker found in Wyoming’s Bighorn National Forest after monthlong search: Sheriff

Body of missing hiker found in Wyoming’s Bighorn National Forest after monthlong search: Sheriff
Body of missing hiker found in Wyoming’s Bighorn National Forest after monthlong search: Sheriff
Grant Gardner, a Minnesota man who left for a three-day hiking trip and was last heard from on July 29, was found dead in Bighorn National Forest in Wyoming, according to the Big Horn County Sheriff’s Office. Big Horn County Sheriff’s Office

(BIG HORN COUNTY, Wyo.) — After being missing for nearly a month, a man who had left for a three-day hike in Wyoming was found dead in Bighorn National Forest, authorities said.

“While it’s not the outcome we hoped for, we are hopeful this will provide much needed peace and closure to the family,” the Big Horn County Sheriff’s Office said in a statement on Thursday.

Grant Gardner, a Minnesota man who had planned on a three-day hike “through the Misty Moon Lake area, eventually summiting Cloud Peak,” which is the highest peak within Bighorn National Forest, was last heard from on July 29, when he contacted his wife, saying he had made it to the summit, the sheriff’s office said.

Phone records revealed that he had reached the summit at Cloud Peak — which is around 13,000 feet — at approximately 7 p.m., which was concerning to officials due to the “lack of visible trails through cliffs, timer line, boulder fields and other hazards that had to be navigated after dark before reaching clear trails and safe terrain,” officials said.

Since then, officials said “there has not been any contact with Gardner.”

On Tuesday, a professional climbing team from North Carolina “summited Cloud Peak and descended to the northern route of the peak,” the sheriff’s office said. When the team was establishing a high-altitude camp for the evening, they “noticed a slight reflection a few hundred feet above them underneath a ledge,” and were “confident it was a backpack,” the sheriff’s office said.

But due to nightfall approaching, further investigation would be “too dangerous,” so the team notified the sheriff’s office via satellite, officials said.

Then on Wednesday, teams from the sheriff’s office were launched and “Grant Gardner’s remains were located near the backpack” and he was wearing “clothing that very closely matched the terrain he was climbing in,” officials said.

The body was recovered in one of the two primary search areas, “very closely matching one of the highest probability scenarios,” officials said.

“It is noteworthy that this area had been covered by air and other means, underscoring how difficult this mission has been,” the sheriff’s office said.

Bighorn National Forest is over 1 million acres, with 191,000 acres dedicated to the Cloud Peak Wilderness area, which is where Gardner is believed to have been traveling, according to the U.S. Forest Service.

While the case has been transferred to the Big Horn County Coroner’s Office to determine the time, manner and cause of death, officials said they believe Gardner “succumbed to a tragic accident as we all have surmised.”

Prior to the discovery of Gardner’s body, officials had suspended search efforts for the hiker, saying that his “most optimistic survival odds have run out.”

“I have made the heartbreaking and difficult decision to suspend active search and rescue operations for Mr. Gardner. Our teams have exhausted all resources and personnel over the last 20 days. With weather conditions and other factors updated in our search models, we have to face the reality that the most optimistic survival odds have run out,” Big Horn County Sheriff Ken Blackburn said in a statement last week.

Now, after this “dangerous” recovery, Gardner’s body will be “brought home to his family,” officials said.

Copyright © 2025, ABC Audio. All rights reserved.

Luigi Mangione may have influenced mass shooting at Manhattan’s NFL headquarters: Prosecutors

Luigi Mangione may have influenced mass shooting at Manhattan’s NFL headquarters: Prosecutors
Luigi Mangione may have influenced mass shooting at Manhattan’s NFL headquarters: Prosecutors
Luigi Mangione attends a hearing at Manhattan Criminal Court on February 21, 2025 in New York City.Luigi Mangione attends a hearing at Manhattan Criminal Court on February 21, 2025 in New York City.

(NEW YORK) — Luigi Mangione, the accused UnitedHealthcare CEO killer, may have influenced last month’s deadly attack on NFL headquarters in New York City, federal prosecutors argued in a new court filing.

By carrying out the assassination-style killing of CEO Brian Thompson last year on a Midtown Manhattan street, Mangione “hoped to normalize the use of violence,” instead of reasoned dialogue, to achieve political objectives, prosecutors said. The prosecutors used last month’s mass shooting attack on the NFL headquarters in Midtown as an example.

On July 28, Shane Tamura brought an assault-style rifle to 345 Park Avenue, not far from where Mangione allegedly gunned down Thompson. Tamura shot and killed four people and, like Mangione, left behind writings for investigators to find. Tamura, in a letter found on his body, blamed the NFL and football for causing CTE. Tamura played football in high school, but not beyond that level. 

CTE, or chronic traumatic encephalopathy, is a brain disease linked to repeated hits to the head, often seen in military veterans and athletes, including football players, hockey players and boxers. It can only be diagnosed after a person’s death.

Mangione allegedly wrote “deny,” “depose” and “delay” on the bullets used to kill Thompson, authorities said. In a notebook found after his arrest, Mangione allegedly wrote in a journal, “The target is insurance” because “it checks every box.”

“The murder was thus, by the defendant’s own admission, calculated to resonate beyond this specific victim and to generate scorn, outrage, or fear toward the health insurance sector more broadly,” prosecutors said. “Simply put, the defendant hoped to normalize the use of violence to achieve ideological or political objectives. Since the murder, certain quarters of the public — who openly identify as acolytes of the defendant — have increasingly begun to view violence as an acceptable, or even necessary, substitute for reasoned political disagreement.”

The government believes Mangione deserves the death penalty in part because he poses a continuing danger by seeking to influence others.

Federal prosecutors elaborated on their reasoning for pursuing capital punishment as they urged a federal judge to deny a defense motion that asked for additional evidence to support the government’s theories.

Prosecutors said Mangione is not entitled to additional information at this stage of the case and argued “the defendant is already in possession of the evidentiary support for the Government’s aggravating factors and there is no risk of surprise.”

Mangione has pleaded not guilty to Thompson’s Dec. 4 killing. Mangione is accused of shooting the CEO several times using a 9 mm handgun equipped with a silencer. He was captured in Altoona, Pennsylvania, several days later.

Copyright © 2025, ABC Audio. All rights reserved.

Israeli officials say they have recovered bodies of 2 hostages

Israeli officials say they have recovered bodies of 2 hostages
Israeli officials say they have recovered bodies of 2 hostages
People hold posters of Ilan Weiss at the “International Rally – United We Bring Them Home” rally in Hostage Square on May 18th, 2024 in Tel Aviv, Israel. (Photo by Alexi J. Rosenfeld/Getty Images)

(LONDON) — The bodies of two Israeli hostages — including Ilan Weiss who was killed in the Oct. 7, 2023, attacks by Hamas on Israel — have been recovered, according to a statement from the Hostages and Missing Families Forum.

“The hostage families embrace the family of Ilan Weiss during this difficult time. Ilan’s return fulfills the State of Israel’s fundamental duty to its citizens,” the statement read. “Our hearts are with the family today. Alongside the grief and pain, his return provides some comfort to the family after 692 days of waiting in the nightmare of uncertainty.”

Ilan Weiss, was killed on Oct. 7, 2023, while his wife and daughter were kidnapped but later released during the first ceasefire in November 2023.

The remains of the second body recovered has not been identified, officials said.

“We wish to express our deep gratitude to the IDF and security forces who have worked and continue to work with dedication and courage,” the statement continued. “Only by bringing home all hostages can we achieve healing and national recovery.”

This is a developing story. Please check back for updates.

Copyright © 2025, ABC Audio. All rights reserved.

Kyivstar becomes 1st Ukrainian company to join US stock exchange

Kyivstar becomes 1st Ukrainian company to join US stock exchange
Kyivstar becomes 1st Ukrainian company to join US stock exchange
The Kyivstar signboard visible on the facade of the building on December 15, 2023 in Lviv, Ukraine. (Photo by Mykola Tys/Global Images Ukraine via Getty Images)

(NEW YORK) — Kyivstar — Ukraine’s leading digital operator — will ring the Nasdaq opening bell Friday morning as the first Ukrainian company to be listed on a United States stock exchange to celebrate its historic listing and the launch of its Invest in Ukraine NOW! campaign.

The company officially began trading on the Nasdaq on Aug. 15 under the umbrella of its parent company, VEON. Together, the companies launched the campaign to draw in U.S. and global investors, showcasing Kyvistar as a unique investment opportunity not only as a successful company, but also as a symbol of Ukraine’s economic growth and potential post-war recovery.

Beyond its nearly 22.4 million mobile customers, Kyivstar has expanded into entertainment, digital healthcare and ride-hailing platforms that all rank among Ukrainian market leaders.

“Kyivstar’s listing on Nasdaq under the ticker KYIV gives American investors a window into the Ukrainian economy as a whole,” said Augie K Fabela II, chairman and founder of VEON, in a press release.

The Invest in Ukraine NOW! campaign was attended by Ukrainian government officials, VEON and Kyivstar executives, investors, and business leaders. VEON and Kyivstar framed the initiative as both an image of wartime resilience and a practical effort to spur foreign investment.

“We have transformed Kyivstar into a robust digital operator with a globally attractive business model and growth story, while being the backbone of Ukraine’s resilience and reconstruction,” said Kyivstar President Oleksandr Komarov in a press release.

“This week we mark the resilience and potential of Ukraine. Together with our team, partners, investors and governmental counterparts, we mark the beginning of Kyivstar’s new chapter. We are excited to help build bridges for other Ukrainian companies to deepen their global partnerships, especially with the American and global business community.”

Copyright © 2025, ABC Audio. All rights reserved.