The Wall Street Journal
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WEDNESDAY, JULY 30, 2025
7/30/2025 3:43:00 PMShare This Episode
The Chinese Coffee Giant Taking on Starbucks
A delicious corporate rivalry is brewing! After an accounting fraud scandal nearly derailed its rise, Luckin Coffee has become the top-selling coffee chain in China. Now it’s expanding stateside, with two new locations in New York City. WSJ’s Hannah Miao explains why Luckin’s tech-forward business model made it a winner in China, and whether Starbucks can fend off the competition by returning to its coffee house roots. Annie Minoff hosts.
- take on (Starbucks) /teɪk ɒn/ 「〜に挑む」「対抗する」。ビジネスやスポーツの対戦相手に使う。
- corporate rivalry /ˈkɔːrpərət ˈraɪvəlri/ 「企業間競争」。rivalry＝ライバル関係。
- brew /bruː/ 「醸成する」「（コーヒーを）淹れる」。ここでは言葉遊びで「競争が沸き起こる」。
- accounting fraud scandal /əˈkaʊntɪŋ frɔːd ˈskændl/ 「会計不正スキャンダル」。粉飾決算などの不祥事。
- derail (its rise) /dɪˈreɪl/ 「（成長を）脱線させる」「頓挫させる」。
- tech-forward business model /tɛk ˈfɔːrwərd ˈbɪznəs ˈmɒdl/ 「テクノロジー主導のビジネスモデル」。
- fend off (the competition) /fɛnd ɒf/ 「（競争相手を）退ける」「撃退する」。
- coffee house roots /ˈkɔːfi haʊs ruːts/ 「コーヒーハウスとしての原点」。落ち着いた雰囲気で飲食を楽しむスタイルのこと。
Annie Minoff: I am here in front of Luckin Coffee in Manhattan on Broadway. Yesterday I went to check out one of the newest coffee spots in New York City. It's called Luckin Coffee and it's a giant coffee chain from China. Out on the sidewalk, signs touted a special deal for first-time customers like me, but there was a bit of a learning curve. Looks like I need to download an app first, so let me do that. The only way to order it Luckin is through its app. And they are saying that one of their bestsellers is this iced coconut latte, which frankly sounds really good. It is really hot out here today, so let's do that. The app flagged a coupon, which made my drink only two bucks. All right, order received. And I have a new coupon actually. Next drink is 40% off. Within a minute or two, I got a ping that my order was ready. I walked in, scanned my phone, and just like that I was out the door. Honestly, I'm not getting a ton of coffee flavor. But it's 95 degrees, it's cold, it's icy, I don't hate it.
- Luckin Coffee /ˈlʌkɪn ˈkɔːfi/ 中国発のコーヒーチェーン。アプリ中心の注文システムが特徴。
- tout a deal /taʊt ə diːl/ （広告や呼び込みなどで）「お得な取引を強く勧める」。
- learning curve /ˈlɜːrnɪŋ kɜːrv/ 「習得の難しさ・段階」。慣れるまでに少し手間がかかること。
- bestseller /ˈbɛstˌsɛlər/ 「人気商品」「売れ筋商品」。
- iced coconut latte /aɪst ˈkoʊkənʌt ˈlɑːteɪ/ 「アイス・ココナッツ・ラテ」。人気メニュー。
- flag (a coupon) /flæɡ/ 「（通知などで）表示する」「ピックアップする」。
- ping (a notification) /pɪŋ/ 「ピコンという通知音」→「通知を送る／受け取る」。IT用語。
- scan one’s phone /skæn wʌnz foʊn/ 「スマホをスキャンする」。QRコードでの認証などを指す。
- just like that /dʒʌst laɪk ðæt/ 「あっという間に」「それだけで」。簡単さ・素早さの強調。
- not getting a ton of ～ /nɑːt ˈɡɛtɪŋ ə tʌn əv/ ～があまり感じられない（＝"a ton of" は「大量の」）
- coffee flavor /ˈkɔːfi ˈfleɪvər/ コーヒーの風味、コーヒーらしい味わい
- it's 95 degrees /ɪts ˈnaɪnti faɪ dɪˈɡriːz/ 気温が95度（＝華氏で約35℃）
There are just two Luckin Coffee shops in the US right now, both in Manhattan, but the chain's proven that it can grow fast. It took just six years for Luckin to become the top-selling coffee chain in China. Dethroning a coffee giant you're probably more familiar with, Starbucks. And now Luckin has arrived in the US, on Starbucks' home turf.
- proven that ～ /ˈpruːvən ðæt/ ～であると証明されている
- grow fast /ɡroʊ fæst/ 急成長する
- top-selling /ˈtɑːp ˌselɪŋ/ 最も売れている、売上トップの
- dethrone /diːˈθroʊn/ 王座から引きずり下ろす、打倒する（比喩的表現）
- coffee giant /ˈkɔːfi ˈdʒaɪənt/ 大手コーヒーチェーン（giant は「巨人」の意）
- be familiar with ～ /fəˈmɪliər wɪð/ ～に詳しい、よく知っている
- home turf /hoʊm tɜːrf/ 本拠地、地元（スポーツやビジネスの文脈で）
Welcome to The Journal, our show about money, business, and power. I'm Annie Minoff. It's Wednesday, July 30th.
Coming up on the show, the competition brewing between Starbucks and Luckin Coffee.
Our colleague Hannah Miao has been writing about Luckin Coffee and she says the brand's meteoric rise in China might never have happened without Starbucks. The American chain was instrumental in creating a coffee culture in the country.
- meteoric rise /ˌmiːtiˈɔːrɪk raɪz/ 急成長、目覚ましい上昇（meteor = 流星に由来）
- might never have happened /maɪt ˈnevər həv ˈhæpənd/ ～は決して起きなかったかもしれない（仮定法過去完了）
- without ～ /wɪðˈaʊt/ ～なしでは
- instrumental in ～ /ˌɪnstrəˈmentl ɪn/ ～において重要な役割を果たす
- create a coffee culture /kriˈeɪt ə ˈkɔːfi ˈkʌltʃər/ コーヒー文化を作り出す
Hannah Miao: Starbucks arrived in China in 1999. It opened its first cafe in Beijing. And this was before China was even part of the World Trade Organization. So this was early days in terms of China's development. And Starbucks really spread cafe culture in this country where tea is more so the traditional beverage of choice.
- more so = 「よりそうである」「特にそうである」
Annie Minoff: Chinese consumers embraced coffee and eventually a homegrown competitor to Starbucks emerged, Luckin. The chain's Chinese name roughly translates to auspicious luck.
- embrace /ɪmˈbreɪs/ （考え・文化などを）受け入れる、採用する
- homegrown competitor /ˌhoʊmˈɡroʊn kəmˈpetɪtər/ 国産の競合企業、自国発のライバル
- auspicious luck /ɔːˈspɪʃəs lʌk/ 縁起の良い幸運（※「luckin」の中国名の意訳）
Hannah Miao: It was 2017 and these entrepreneurs from a ride-hailing company decided to start Luckin to challenge Starbucks. If you go back and look at some of the press from the early days, there was an interview that one of the founders Jenny Qian did with Chinese State Media and they basically said, "The Chinese market isn't only going to have Starbucks, we should have our own coffee brand."
Annie Minoff: And Luckin founders being tech people brought a techie twist to the Starbucks business model.
Hannah Miao: Exactly. They built everything around a mobile app and their idea was to have these really efficient stores where you can order your coffee on this app, pick it up and go. And also they integrated coffee delivery pretty early on. So their pitch was that you should get your cup of coffee delivered in less than half an hour.
Annie Minoff: Luckin wanted to be fast, efficient, and with the help of a ton of coupons, cheap. One of the brand's key strategies for growth is luring in new customers with all kinds of discounts. And they're using the same playbook in New York. After I grabbed my coffee, I ran into a group of women leaving the store with their drinks. What brought you all to Luckin today?
Speaker 3: Her.
Speaker 4: She did.
Speaker 5: Guys, I put them onto a deal. And I think they came from China or something.
Annie Minoff: Yeah.
Speaker 5: So now they're doing a lot of promotions to promote the drinks. So we came here to get the deals.
Annie Minoff: What was the deal?
Speaker 5: $2 for a drink and that compared to... We're in the city so $2 for a drink is crazy.
deal（名詞）/diːl/
特別価格、割引、お得なキャンペーン
Annie Minoff: And the coupons don't stop there. After your first order, the app gives you another coupon and then another coupon. It's like a tech-forward update of the old coffee punch card. Like buy 10, get one free.
Hannah Miao: Exactly. But you don't even have to really spend a lot to get a reward.
Annie Minoff: You don't even have to get 10.
Hannah Miao: It feels almost gamified. It really draws you in and you feel addicted to getting more coupons. And it's the bread and butter of what Luckin does in China. And not just Luckin, but lots of other e-commerce/food delivery platforms.
- gamified /ˈɡeɪmɪfaɪd/ 「ゲーム化された」。ゲームの仕組みを取り入れて楽しくすること。
- draw someone in /drɔː ˈsʌmwʌn ɪn/ 「人を引き込む」「夢中にさせる」
- addicted to ～ /əˈdɪktɪd tuː/ 「～に夢中である、やめられない」
- bread and butter /brɛd ənd ˈbʌtər/ 「主要な収入源・基本となるもの」
- formula /ˈfɔːrmjələ/ 「方法・やり方・方程式」
- e-commerce /ˈiː ˌkɒmɜːrs/ 「電子商取引、EC」
- food delivery platforms /fuːd dɪˈlɪvəri ˈplætfɔːrmz/ 「フードデリバリーのプラットフォーム（Uber Eatsなど）」
Annie Minoff: In China, this formula seemed to work for Luckin.
Hannah Miao: They just developed super quickly, opened up thousands of stores and went public in less than two years. So it was a really enormous rapid ascent for this company.
Annie Minoff: But Luckin's rise wasn't all that it seemed.
Speaker 6: So Luckin Coffee is that a Chinese company that was supposed to be a Starbucks killer. It turned out the COO fabricated around $300 million worth of sales last year.
Annie Minoff: In 2020, a major accounting scandal brought Luckin momentum to a screeching halt.
- major accounting scandal /ˈmeɪdʒər əˈkaʊntɪŋ ˈskændl/ 大きな会計不正スキャンダル
- bring momentum to a screeching halt /brɪŋ moʊˈmɛntəm tuː ə ˈskriːtʃɪŋ hɔːlt/ 勢いを急激に止める（直訳：きしむ音を立てて停止させる）
Hannah Miao: Basically, Luckin had to disclose that more than $300 million of sales were faked.
Annie Minoff: Whoa.
Hannah Miao: And it was a big deal because Luckin had this really buzzy IPO, it listed on the NASDAQ. And basically the revelation of the accounting scandal forced it to de-list from the NASDAQ, it eventually filed for bankruptcy.
Annie Minoff: Luckin removed its chairman and CEO and paid a $180 million settlement. But the company stuck it out. Its new CEO would later tell The Journal that Luckin was trying to redeem itself. And not just for its own sake.
- remove (its chairman and CEO) /rɪˈmuːv/ （会長やCEOを）解任する、辞任させる
- settlement /ˈsetlmənt/ （紛争の）和解金、和解契約
- stick it out /stɪk ɪt aʊt/ 困難を耐え抜く、踏ん張る
困難な状況でも途中で投げ出さずに耐える・やり通す - redeem oneself /rɪˈdiːm wʌnˈself/ 名誉を回復する、信頼を取り戻す
- for its own sake /fɔːr ɪts oʊn seɪk/ 自分自身のために
stick it out 困難な状況を耐え抜く、やり通す
stick on 物理的に貼り付ける
stick to ～ 約束・計画・ルールなどを守る、固執する
Hannah Miao: He said they were trying to repair the reputation of Chinese companies. That's how bad the Luckin scandal was.
Annie Minoff: And it worked. Luckin staged a comeback. By 2023, it had surpassed Starbucks as the top-selling coffee chain in China.
Hannah Miao: And by 2024, Starbucks' market share in China was just 14% according to Bernstein Research. And it had been more than 40% when Luckin had just started in 2017.
Annie Minoff: So this company really came back from the dead. And not only that, then superseded Starbucks in China?
Hannah Miao: Exactly. It's almost like a cat who has nine lives or something. You can't get rid of it. Starbucks cannot get rid of this rival that's just coming for it.
- cat who has nine lives /kæt hu hæz naɪn laɪvz/ 「九生の猫」（猫は九つの命があるという慣用表現で、不死身の意味）
Annie Minoff: And now that rival could be coming for Starbucks in the US. That's next. Luckin is arriving in the US at a tough time for Starbucks. Starbucks, of course, achieved ubiquity in the US by bringing premium coffee to the masses. But it wasn't just about what was in your cup, Starbucks' appeal also had to do with its vibe. Starbucks pitched itself as a place to settle down in a comfy chair to read, work or chat with friends.
- coming for ～ /ˈkʌmɪŋ fɔːr/ ～を狙う、攻撃する、ターゲットにする
- tough time /tʌf taɪm/ 厳しい時期、大変な状況
- achieve ubiquity /əˈtʃiːv juːˈbɪkwəti/ 広く普及する、どこにでもある状態になる
- premium coffee /ˈpriːmiəm ˈkɔːfi/ 高級コーヒー
- the masses /ðə ˈmæsɪz/ 一般大衆
- appeal /əˈpiːl/ 魅力、訴求力
- vibe /vaɪb/ 雰囲気、空気感（口語的表現）
- pitch oneself as ～ /pɪtʃ wʌnˈself æz/ ～として自分を売り込む、アピールする
- settle down /ˈsetl daʊn/ 落ち着く、腰を据える
Howard Schultz: What we're selling as a company is much more than a cup of coffee.
Annie Minoff: Here's Starbucks' then CEO Howard Schultz.
Howard Schultz: And I think coffee is a great conduit to conversation and social interaction. And we have tried to build our stores in a way that invites people not only to take the coffee to go but to stay. We've never asked-
- conduit /ˈkɒnduɪt/ （情報・感情などの）媒介、伝達手段
Annie Minoff: But lately the vibes at Starbucks have been a little off. One major pain point has been mobile ordering. Mobile orders are a crucial part of Starbucks' business. More than 30% of its pickup orders are placed digitally. But also.
- vibe(s) /vaɪb/ 雰囲気、空気感（口語）
- pain point /peɪn pɔɪnt/ 問題点、悩みの種
- mobile ordering /ˈmoʊbəl ˈɔːrdərɪŋ/ モバイル注文（スマホ等からの注文）
- crucial part /ˈkruːʃəl pɑːrt/ 非常に重要な部分
- pickup order(s) /ˈpɪkʌp ˈɔːrdərz/ 持ち帰り注文、ピックアップ注文
Hannah Miao: Mobile ordering can get quite messy at Starbucks because the workers in the cafes are trying to manage the in-person orders and also mobile pickup orders and potentially also drive-through orders. So there's just a lot going on. The former CEO Howard Schultz described as potentially a mosh pit at some points when all the mobile orders come in.
- get messy /ɡet ˈmesi/ 混乱する、ごちゃごちゃする
- in-person order(s) /ɪnˈpɜːrsən ˈɔːrdərz/ 店頭での直接注文
- drive-through order(s) /ˈdraɪv θruː ˈɔːrdərz/ ドライブスルー注文
- potentially /pəˈtɛnʃəli/ ひょっとすると、可能性として
- mosh pit /mɒʃ pɪt/ （コンサートの）モッシュピット。激しく人が押し合う混雑状態の比喩。
Annie Minoff: Starbucks also offers customers a lot of options to customize their drinks, which can lead to longer wait times.
Hannah Miao: You can do a Caramel Frappuccino, low ice, foam, dairy-free milk. There's just a lot of factors. And when the workers are trying to do all that customization while also taking orders from people inside the cafe, it can create this jam of a situation.
Annie Minoff: And even as the customer experience at Starbucks has gotten worse, those drinks are still relatively pricey.
Hannah Miao: Starbucks is trying to maintain that higher pricing for the premium customer. And this can create issues for customers when they feel like this cup of coffee is costing $6 to $8. What is the premium experience in that?
Annie Minoff: And what has all of this meant for Starbucks' bottom line?
Hannah Miao: It's been a bit of a rough period for Starbucks. It's reported several consecutive quarters of same store sales declines. They poached the CEO of Chipotle and put in a new CEO to try to turn around the business.
- rough period /rʌf ˈpɪriəd/ 厳しい時期、大変な時期
- consecutive quarters /kənˈsɛkjətɪv ˈkwɔːrtərz/ 連続した四半期（3か月ごとの期間）
- same store sales declines /seɪm stɔːr seɪlz dɪˈklaɪnz/ 同一店舗売上高の減少
- poach (the CEO) /poʊtʃ/ （人材を）引き抜く、かっさらう
- turn around (the business) /tɜrn əˈraʊnd/ 事業を立て直す、業績を改善する
Annie Minoff: That new CEO, Brian Niccol, wants to go back to basics. He's focused on bringing back that classic coffee house vibe. And he's planning to shutter dozens of Starbucks locations that only handle mobile pickup orders. On an earnings call on Tuesday, he called those mobile-only stores, "Overly transactional and lacking the warmth and human connection that defines our brand." It does sound like a lot of the things that Starbucks has struggled with are strengths for Luckin. I mean, Luckin has figured out mobile ordering, Luckin embraces the grab and go model. Is that in their favor?
- go back to basics /ɡoʊ bæk tə ˈbeɪsɪks/ 原点に立ち返る、基本に戻る
- classic coffee house vibe /ˈklæsɪk ˈkɔːfi haʊs vaɪb/ 昔ながらのカフェの雰囲気
- shutter (stores) /ˈʃʌtər/ 店舗を閉鎖する（閉める）
- mobile-only stores /ˈmoʊbəl ˈoʊnli stɔːrz/ モバイル専用店舗（注文と受け取りのみ）
- overly transactional /ˈoʊvərli trænˈzækʃənl/ あまりにも取引的（人間味に欠ける）
- lacking the warmth and human connection /ˈlækɪŋ ðə wɔːrmθ ənd ˈhjuːmən kəˈnɛkʃən/ 温かみや人とのつながりが欠如している
- define our brand /dɪˈfaɪn aʊər brænd/ 私たちのブランドの本質を形作る
- grab and go model /ɡræb ənd ɡoʊ ˈmɑːdl/ すぐに持ち帰るスタイル、テイクアウト中心のモデル
- in their favor /ɪn ðɛr ˈfeɪvər/ 彼らにとって有利に、プラスに働く
Hannah Miao: I think it can be a big strength here if you have Starbucks customers who are wanting more of that quick, efficient, low cost experience. And so we'll see how it plays out. I mean, what we've known about the US economy for some time now is that it's the higher end customers, higher income segments of the population that continue to spend and power the economy. So that could be an advantage for Starbucks' model with more of the premium pricing. But you do also have lots of people who are sick of paying so much money for everyday things. So that could play in Luckin's favor as well.
Annie Minoff: In a statement, Starbucks said that the company is doubling down on what customers love, "A warm and welcoming coffee house with high quality beverages crafted by a skilled barista."
Hannah Miao: So it seems like they're trying to draw that contrast with some of the strategy that Luckin is employing. And the size of Starbucks in the US cannot be overstated. It's huge. It's 17,000 stores nationwide. So Luckin with its two stores is really just cracking into the US market.
Annie Minoff: So they're not shaking in their boots yet?
- shake in one's boots /ʃeɪk ɪn wʌnz buːts/ （恐怖や不安で）震え上がる、ビビる
- not ~ yet /nɑːt ~ jɛt/ まだ～していない（進行・到達していないことを示す）
Hannah Miao: I don't think they're concerned that Luckin is going to overnight overtake them in this market. I mean, it's Starbucks' home market. They've been here forever. But I don't think they would count Luckin out. I mean, Luckin again was this plucky startup in China when it first started and within years it beat Starbucks in China. So there is something to be said about Luckin's ability to really rapidly grab market share.
Annie Minoff: And is that Luckin's plan in the US to rapidly grab market share? What has Luckin said about that?
Hannah Miao: It hasn't said much about its overall plans, but there are some clues. So when Luckin launched its first two stores, they did post on Instagram saying that this is just the beginning. So we can expect to see more in New York in the US. And also in the stores themselves, they have a store number in each store in the corner of the counter. And it doesn't just say one or two, it says 00001 and 00002.
Annie Minoff: Ha.
Hannah Miao: So that could be a hint that Luckin is looking to open more stores and fill up all those zeros in the US.
Annie Minoff: This morning on an earnings call, Luckin called the opening of its first two US stores a significant milestone. It said the company is taking a disciplined and deliberate approach to the US market.
- earnings call /ˈɜːrnɪŋz kɔːl/ 決算報告の電話会議（企業が四半期業績を投資家向けに報告する会議）
- milestone /ˈmaɪlstoʊn/ 節目、画期的な出来事、進歩を示す重要な出来事
- significant milestone /sɪɡˈnɪfɪkənt ˈmaɪlstoʊn/ 重要な節目、重大な転換点
- disciplined /ˈdɪsəplɪnd/ 統制の取れた、慎重な（ここでは「感情に流されない」などの意味）
- deliberate /dɪˈlɪbərət/ 故意の、慎重な、意図的な（勢いや偶然ではなく、計画的な）
- approach /əˈproʊtʃ/ アプローチ、取り組み方、手法
That's all for today, Wednesday, July 30th. The Journal is a co-production of Spotify and The Wall Street Journal. Additional reporting in today's episode by Heather Haddon. Thanks for listening. See you tomorrow.
WSJ: Jul, 31 2025
NYC Shooting Puts Mamdani on the Spot Over Policing Views
The killing of four people, including a police officer, in a Midtown Manhattan office building rattled a city where mass attacks are rare and violent crime has declined.
- put (someone) on the spot /pʊt ˈsʌmwʌn ɒn ðə spɒt/ 「〜を困らせる」「難しい立場に置く」。質問や問題で注目が集まり、対応を迫られる状況。
- policing views /pəˈliːsɪŋ vjuːz/ 「警察のあり方に関する見解」。policing＝警察活動・治安維持。
- rattled /ˈrætl̩d/ 「動揺した、衝撃を受けた」。ここでは「街に衝撃を与えた」。
- Midtown Manhattan /ˈmɪdˌtaʊn mænˈhætən/ ニューヨーク市マンハッタン区の中心部。42丁目〜59丁目付近のエリア。
- mass attacks /mæs əˈtæks/ 「大規模な襲撃」。大量の人を狙った暴力事件。
- violent crime has declined /ˈvaɪələnt kraɪm hæz dɪˈklaɪnd/ 「暴力犯罪が減少している」。decline＝減少する。
Powell’s Gamble: That the Economy Will Reveal Its True Self in the Next Two Months
Fed Chair Jerome Powell is keeping his options wide open for the September meeting, promising little while ruling out nothing,
- gamble /ˈɡæmbl/ 「賭け」「リスクのある行動」。成否が不透明な挑戦を指す。
- reveal its true self /rɪˈviːl ɪts truː sɛlf/ 「本当の姿を明らかにする」。経済の本質的な状態が見えてくるニュアンス。
- Fed Chair (Federal Reserve Chair) /fɛd ʧɛr/ 「FRB議長」。米国の中央銀行のトップ。
- keep one's options wide open /kiːp wʌnz ˈɒpʃənz waɪd ˈoʊpən/ 「選択肢をすべて残す」「身動きが取れるようにしておく」。
- promising little /ˈprɑːmɪsɪŋ ˈlɪtl/ 「ほとんど約束しない」。明確なコミットメントを避ける意味。
- rule out nothing /ruːl aʊt ˈnʌθɪŋ/ 「何も排除しない」。すべての可能性を残す。
Trump and Dimon Are Talking Again After Yearslong Rift
America’s most powerful banker and the president have met twice in the past two months to talk about the economy, interest rates and trade.
- yearslong /ˈjɪrzˌlɔːŋ/ 「長年にわたる」。years + long の造語的表現。
- rift /rɪft/ 「確執」「不和」。人間関係の溝を表す。
- America’s most powerful banker /əˈmɛrɪkəz moʊst ˈpaʊərfəl ˈbæŋkər/ 「米国で最も影響力のある銀行家」。ここではJPモルガンCEOのジェイミー・ダイモン氏。
- interest rates /ˈɪntrəst reɪts/ 「金利」。FRBの政策金利なども含む。
- trade /treɪd/ 「貿易」。国際取引や通商政策の文脈で使われることが多い。
U.S. and South Korea Reach New Trade Deal
The U.S. will apply 15% tariffs to Korean goods in return for duty-free treatment on many American products, President Trump said.
- reach a deal /riːtʃ ə diːl/ 「合意に達する」。交渉や協定などでよく使われる表現。
- trade deal /treɪd diːl/ 「通商協定」「貿易協定」。
- tariff /ˈtærɪf/ 「関税」。輸入品にかけられる税金。
- apply tariffs (to〜) /əˈplaɪ ˈtærɪfs/ 「〜に関税を適用する」。
- in return for /ɪn rɪˈtɜːrn fɔːr/ 「〜と引き換えに」「〜の代わりとして」。
- duty-free treatment /ˈdjuːti friː ˈtriːtmənt/ 「無関税扱い」「免税措置」。
- products /ˈprɑːdʌkts/ 「製品」。goods とほぼ同義だが、goods より広い概念を含むことがある。
Meta’s Revenue Rises 22% as Ad Business Continues to Fuel AI Ambitions
The Facebook parent’s core ad business remains strong as the company invests billions of dollars into artificial intelligence. Shares rose 9% after hours.
- revenue rises 22% /ˈrɛvənjuː ˈraɪzɪz ˌtwɛnti tuː pɜːrsɛnt/ 「収益が22%増加する」。rise は自動詞なので目的語を取らない。
- core ad business /kɔːr æd ˈbɪznəs/ 「中核となる広告事業」。
- remain strong /rɪˈmeɪn strɔːŋ/ 「堅調である」「強さを保つ」。
- fuel ambitions /ˈfjuːəl æmˈbɪʃənz/ 「野心を後押しする」「推進力となる」。
- invest billions of dollars into〜 /ɪnˈvɛst ˈbɪljənz əv ˈdɑːlərz ˈɪntuː/ 「〜に数十億ドルを投資する」。into が重要。
- after hours /ˈæftər ˈaʊərz/ 「時間外取引で」。株式市場が閉まった後の取引。
Trump Just Crashed the Copper Market
The president unveiled a 50% tariff on copper products, but not on the raw material itself.
- crash the market /kræʃ ðə ˈmɑːrkɪt/ 「市場を急落させる」。株式・商品市場の急な下落を指す。
- copper market /ˈkɑːpər ˈmɑːrkɪt/ 「銅市場」。銅の価格取引が行われる市場。
- unveil /ʌnˈveɪl/ 「発表する」「明らかにする」。フォーマルな発表時に使われることが多い。
- tariff /ˈtærɪf/ 「関税」。輸入製品に課す税金。
- copper products /ˈkɑːpər ˈprɑːdʌkts/ 「銅製品」。銅を原料とした製品。
- raw material /rɔː məˈtɪriəl/ 「原材料」。製品の加工前の素材。
- itself /ɪtˈsɛlf/ 「それ自体」。強調用法として使われる
Global Trade Raised Living Standards for Millions. New Barriers Are Reversing the Trend.
In Indonesia and elsewhere, export manufacturing helped narrow the wealth gap with the West, creating a consumer class, but that transformation has stalled.
- raise living standards /reɪz ˈlɪvɪŋ ˈstændərdz/ 「生活水準を向上させる」。過去形は raised /reɪzd/。
- barrier /ˈbæriər/ 「障壁」「妨げ」。貿易・関税などの制限を指す場合が多い。
- reverse the trend /rɪˈvɜːrs ðə trɛnd/ 「傾向を逆転させる」。進んできた流れを元に戻す。
- export manufacturing /ˈɛkspɔːrt ˌmænjuˈfæktʃərɪŋ/ 「輸出型製造業」。製品を輸出するための製造活動。
- narrow the wealth gap /ˈnæroʊ ðə wɛlθ ɡæp/ 「富の格差を縮小する」。
- consumer class /kənˈsuːmər klæs/ 「消費者階級」「消費者層」。経済成長で購買力を持った人々。
「購買力のある中間層」 - stall /stɔːl/ 「停滞する」「行き詰まる」。景気や進展が止まるイメージ。
New York Gunman Bought Rifle Used in Midtown Attack From His Boss
The gunman accused of killing four people in a Midtown Manhattan office tower bought the AR-15-style rifle used in the attack from his boss at a Las Vegas casino.
- gunman /ˈɡʌnmən/ 「銃撃犯」「武装した男」。
- rifle /ˈraɪfəl/ 「ライフル銃」。AR-15など長銃身の銃。
- Midtown Manhattan /ˈmɪdˌtaʊn mænˈhætən/ ニューヨーク市マンハッタンの中心部。
- AR-15-style rifle /eɪ ɑːr ˈfɪftiːn staɪl ˈraɪfəl/ 「AR-15型のライフル」。米国で広く流通する半自動ライフルのスタイル。
- accused of killing /əˈkjuːzd ʌv ˈkɪlɪŋ/ 「〜の罪で訴追された」「〜を殺害したとして告発された」。
- office tower /ˈɒfɪs ˈtaʊər/ 「オフィスタワー」「高層オフィスビル」。
- casino /kəˈsiːnoʊ/ 「カジノ」。ラスベガスの施設が文脈。
Key Takeaways From Reagan National Crash Probe: Faulty Altitude Data, Missed Warnings
Transportation safety officials’ hearing reveals new details into what led to the January accident that killed 67 people.
- key takeaways /kiː ˈteɪkəˌweɪz/ 「重要なポイント」「要点」。ニュースや会議のまとめに使う表現。
- crash probe /kræʃ proʊb/ 「墜落事故の調査」。probe＝調査、精査。
- faulty altitude data /ˈfɔːlti ˈæltɪˌtjuːd ˈdeɪtə/ 「不具合のある高度データ」。faulty＝欠陥がある。
- missed warnings /mɪst ˈwɔːrnɪŋz/ 「警告の見落とし」「無視された警告」。
- transportation safety officials /ˌtrænspɔːrˈteɪʃən ˈseɪfti əˈfɪʃəlz/ 「運輸安全当局の職員」。NTSBなどの組織を指す。
- hearing /ˈhɪərɪŋ/ 「公聴会」。事故や事件の調査のために行われる公式の聴取。
- reveal new details /rɪˈviːl njuː ˈdiːteɪlz/ 「新たな詳細を明らかにする」。
- led to (an accident) /lɛd tuː/ 「〜につながった」。原因や要因を示す。
Brown University Reaches $50 Million Deal With Trump Administration
The agreement, which follows Columbia’s settlement last week, will resolve discrimination allegations and restore research funds.
- reach a deal /riːtʃ ə diːl/ 「合意に達する」「和解する」。契約や交渉の妥結に使う定番表現。
- settlement /ˈsɛtlmənt/ 「和解」「解決」。裁判などの外で合意に至ること。
- resolve allegations /rɪˈzɑːlv ˌæləˈɡeɪʃənz/ 「申し立てを解決する」。
allegations＝公式な（証拠のない）告発や申し立て。 - discrimination /dɪˌskrɪmɪˈneɪʃən/ 「差別」。人種・性別・宗教などによる不当扱い。
- restore research funds /rɪˈstɔːr ˈriːsɜːrtʃ fʌndz/ 「研究資金を復元する」。一度停止・削減された資金を再び与えること。
- follows ~ /ˈfɑːloʊz/ 「〜に続く」。ここでは「コロンビア大学の和解に続いて」という意味。
Texas Highways Have a New Nighttime Creature: Autonomous Trucks
Aurora Innovation says its driverless system can detect objects further than the length of three football fields—in the dark.
- autonomous trucks /ɔːˈtɑːnəməs trʌks/ 「自動運転トラック」。自律的に走行できる大型車両。
- nighttime creature /ˈnaɪttaɪm ˈkriːtʃər/ 「夜の生き物」。比喩的に、夜間走行する自動トラックを指す。
- driverless system /ˈdraɪvərləs ˈsɪstəm/ 「無人運転システム」。driverless＝運転手なし。
- detect objects /dɪˈtɛkt ˈɑːbdʒɛkts/ 「物体を検知する」。センサー技術の文脈でよく使う。
- further than /ˈfɜːrðər ðæn/ 「〜より遠く」。距離の比較表現。
- length of three football fields /lɛŋkθ əv θriː ˈfʊtbɔːl fiːldz/ 「フットボール場3面分の長さ」。アメリカンフットボールのフィールドを基準にした比喩的な距離表現。
WSJ: Jul, 30 2025
Fed Governors Could Break Ranks as Trump Intensifies Powell Pressure
Possible dissents by Christopher Waller and Michelle Bowman would mark the first time in three decades that more than one Fed governor dissented at a policy meeting.
- Fed (Federal Reserve) /fɛd/ 米国の中央銀行制度「連邦準備制度（理事会）」
- Governor (Fed Governor) /ˈɡʌvənər/ FRB理事のこと（州知事も同じ語だがここではFRBの役職）
- break ranks /breɪk ræŋks/ 結束を崩す、同調しない行動を取る
- intensify /ɪnˈtɛnsɪfaɪ/ 強化する、激化させる
- pressure /ˈprɛʃər/ 圧力、圧迫
- dissent /dɪˈsɛnt/ 意見を異にする、反対票を投じる
- mark the first time /mɑːrk ðə fɜːrst taɪm/ 初めての出来事を示す
- in three decades /ɪn θriː ˈdɛkeɪdz/ 30年間で（約30年ぶりに）
Why Israel and Hamas Won’t Stop Fighting
Another breakdown of negotiations shows neither side is ready for the 21-month war to end. A deadly hunger crisis is taking hold.
- breakdown of negotiations /ˈbreɪkˌdaʊn əv nəˌɡoʊʃiˈeɪʃənz/ 交渉の決裂、破綻
- neither side /ˈniðər saɪd/ または /ˈnaɪðər saɪd/ どちらの側も〜ない
- ready for ～ to end /ˈrɛdi fɔːr ... tə ɛnd/ ～を終わらせる準備ができている
- 21-month war /ˈtwɛnti wʌn mʌnθ wɔːr/ 21か月に及ぶ戦争
- deadly hunger crisis /ˈdɛdli ˈhʌŋɡər ˈkraɪsɪs/ 命にかかわる飢餓危機
- take hold /teɪk hoʊld/ 広がる、定着する、支配的になる
Trump’s Former Lawyer Emil Bove Confirmed to Federal Appeals Court
The Justice Department official was narrowly approved on a 50-49 vote despite pushback from Democrats.
- confirmed to (a court) /kənˈfɜːrmd tə .../ （裁判所・役職に）承認された
- Federal Appeals Court /ˈfɛdərəl əˈpiːlz kɔːrt/ 連邦控訴裁判所（米国の中間審級の裁判所）
- narrowly approved /ˈnæroʊli əˈpruːvd/ 僅差で承認された
- 50-49 vote /ˈfɪfti fəˈrtiːˈnaɪn voʊt/ 50対49の票決
- despite pushback /dɪˈspaɪt ˈpʊʃˌbæk/ 反発にもかかわらず
- pushback /ˈpʊʃˌbæk/ 強い反発、抵抗（政策・提案に対する）
Trump Administration Aims to Roll Back Bedrock Climate Tool
The EPA is seeking to rescind a landmark scientific finding on greenhouse-gas emissions that the government has used to regulate emissions from power plants, aircraft and cars.
- aim to roll back /eɪm tə roʊl bæk/ ～を後退させる、撤回することを目指す
- bedrock /ˈbɛdˌrɑːk/ 基盤、根幹となるもの
- climate tool /ˈklaɪmət tuːl/ 気候政策・対策のための手段（ここでは法的根拠）
- EPA (Environmental Protection Agency) /iː piː eɪ/ 米国環境保護庁
- rescind /rɪˈsɪnd/ 無効にする、撤回する
- landmark /ˈlændˌmɑːrk/ 画期的な、重要な
- scientific finding /ˌsaɪənˈtɪfɪk ˈfaɪndɪŋ/ 科学的認定・調査結果
- greenhouse-gas emissions /ˈɡriːnˌhaʊs ɡæs ɪˈmɪʃənz/ 温室効果ガス排出
- regulate /ˈrɛɡjəˌleɪt/ 規制する
Cory Booker Accuses Democrats of Being ‘Complicit’ in Trump Agenda
In a rare Democratic Party tussle, the New Jersey senator said colleagues needed to “have a backbone.”
- accuse ... of ... /əˈkjuːz ... əv .../ ～を…だと非難する
- complicit /kəmˈplɪsɪt/ （悪事に）加担している、共犯の
- agenda /əˈdʒɛndə/ 政策、計画（ここではトランプ氏の政策方針）
- tussle /ˈtʌsəl/ 争い、衝突（口論や対立も含む）
- backbone /ˈbækˌboʊn/ 背骨、転じて「信念」「毅然さ」
- have a backbone /hæv ə ˈbækˌboʊn/ 「しっかりした信念を持つ」「毅然とする」
- say + (that) S + V：「～だと言う」
JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program
Discussions between the country’s biggest bank and Apple accelerated in recent months.
- nears a deal /nɪrz ə diːl/ 合意に近づく、契約成立が間近になる
- take over /ˈteɪk ˌoʊvər/ 買収する、引き継ぐ、事業を取得する
- credit-card program /ˈkrɛdɪt kɑːrd ˈproʊɡræm/ クレジットカード事業・プログラム
- discussions /dɪˈskʌʃənz/ 協議、話し合い（特に交渉や合意を目指す議論）
- accelerate /əkˈsɛləˌreɪt/ 加速する、スピードを上げる
- in recent months /ɪn ˈriːsənt mʌnθs/ ここ数か月間で
Inside the Nightmare at 345 Park Avenue, a Manhattan Office Tower Under Attack
Employees at firms including Blackstone and KPMG hid and set up barricades during the gunman’s rampage.
- nightmare /ˈnaɪtˌmɛr/ 悪夢、恐怖の出来事
- under attack /ˈʌndər əˈtæk/ 攻撃を受けている
- employees at firms /ˌɛmˌplɔɪˈiːz æt fɜːrmz/ 企業の従業員
- including Blackstone and KPMG /ɪnˈkluːdɪŋ .../ ～を含む
- hid (hide の過去形) /hɪd/ 隠れた
- set up barricades /ˈsɛt ʌp ˈbærəˌkeɪdz/ バリケードを築いた
- gunman’s rampage /ˈɡʌnmənz ˈræmpeɪdʒ/ 銃を持った襲撃者の暴れ回り
How Did a Lone Gunman Breach One of New York’s Most Secure Skyscrapers?
The shooting at a Midtown Manhattan tower exposes how eliminating threats can be nearly impossible, even in fortified workplaces.
- lone gunman /loʊn ˈɡʌnmən/ 単独の銃撃犯
- breach /briːtʃ/ （防御・安全網を）破る、突破する
- skyscraper /ˈskaɪˌskreɪpər/ 超高層ビル
- Midtown Manhattan /ˈmɪdˌtaʊn mænˈhætən/ マンハッタン中心部
- expose /ɪkˈspoʊz/ 明らかにする、露呈させる
- eliminate threats /ɪˈlɪməˌneɪt θrɛts/ 脅威を排除する
- nearly impossible /ˈnɪrli ɪmˈpɑːsəbl/ ほぼ不可能な
- fortified workplaces /ˈfɔːrtɪˌfaɪd ˈwɜːrkˌpleɪsɪz/ 強化された職場環境（防御が厳重なオフィス）
One of Blackstone’s Highest-Ranking Women Killed in Shooting
Wesley LePatner was a star in Blackstone’s vast real-estate business, rising to oversee one of its major strategies and one of its biggest funds.
- highest-ranking /ˈhaɪɪst ˈræŋkɪŋ/ 最高位の、上位の
- shooting /ˈʃuːtɪŋ/ 銃撃事件
- vast /væst/ 広大な、膨大な
- real-estate business /ˈrɪəl ɪˌsteɪt ˈbɪznəs/ 不動産事業
- rising to oversee /ˈraɪzɪŋ tə ˌoʊvərˈsiː/ 昇進して監督する立場になる
- major strategy /ˈmeɪdʒər ˈstrætədʒi/ 主要戦略
- fund /fʌnd/ 投資ファンド、資金
Trump Administration Puts New Chokehold on Billions in Health-Research Funding
The National Institutes of Health can’t award grants to outside researchers under a new White House restriction.
- put a chokehold on /pʊt ə ˈtʃoʊkˌhoʊld ɑn/ ～を強く締め付ける、抑制する
- billions in funding /ˈbɪljənz ɪn ˈfʌndɪŋ/ 数十億ドルの資金
- health-research funding /hɛlθ rɪˈsɜːrtʃ ˈfʌndɪŋ/ 健康研究資金
- National Institutes of Health (NIH) /ˈnæʃənəl ˈɪnstɪˌtjuːts ʌv hɛlθ/ 米国国立衛生研究所
- award grants /əˈwɔːrd ɡrænts/ 助成金を交付する
award grants は「助成金を交付する」という意味で公的機関などの資金提供の正式表現。 - outside researchers /ˈaʊtsaɪd rɪˈsɜːrtʃərz/ 外部の研究者
- White House restriction /ˈwaɪt haʊs rɪˈstrɪkʃən/ ホワイトハウスの制限（政策）
Ghislaine Maxwell Says She’d Answer Questions if She Gets Immunity or Clemency
In a letter to the House Oversight Committee, a lawyer for Maxwell laid out her conditions for testifying before Congress.
- immunity /ɪˈmjunɪti/ 免責、（法的な）免除
- clemency /ˈklɛmənsi/ 恩赦、減刑
- lay out (conditions) /leɪ aʊt/ （条件などを）詳しく説明する、明示する
- testify before Congress /ˈtɛstəˌfaɪ bɪˈfɔr ˈkɑŋɡrəs/ 議会で証言する
- House Oversight Committee /haʊs ˈoʊvərˌsaɪt kəˈmɪti/ 米下院監視委員会