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News & Articles By Laura Harris
09/04/2025
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By Laura Harris
Bessent: Trump administration weighs declaring national housing emergency
Treasury Secretary Scott Bessent announced that the Trump administration may declare a national housing emergency this fall to address rising housing costs and supply shortages. While awaiting potential Federal Reserve rate cuts, the administration is exploring more aggressive federal actions, including standardizing zoning laws, reducing closing costs and exempting select construction materials from tariffs. Bessent […]
08/30/2025
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By Laura Harris
Treasury Secretary Bessent: Tariff revenues may surpass $500 billion annually
Treasury Secretary Scott Bessent announced customs duty revenues from Trump’s tariffs could exceed $500 billion annually, possibly reaching $1 trillion, due to sharp increases from July to August 2025. The rising tariff revenue is helping offset the projected $3.4 trillion deficit caused by 2025’s tax cuts and spending increases, with the CBO now estimating tariffs […]
08/28/2025
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By Laura Harris
Trump threatens tariffs and export curbs over foreign digital taxes on U.S. tech firms
President Donald Trump vowed to impose steep tariffs and restrict exports of U.S. technology and chips on countries that maintain Digital Services Taxes (DSTs) or similar regulations targeting American tech companies. Several countries, including EU members, the U.K. and India, levy DSTs on large digital firms like Amazon, Google and Facebook to capture revenue generated […]
08/24/2025
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By Laura Harris
German economy in turmoil as bankruptcies and unemployment hit 10-year highs
In July, Germany recorded 4,007 corporate bankruptcies, a 19.2 percent year-on-year increase, marking the highest monthly total since October 2015, particularly affecting industries like chemicals, automotive and mechanical engineering. Unemployment has risen to 2.98 million, up 170,000 from last year, with projections indicating it could surpass three million by the end of August, the highest […]
08/17/2025
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By Laura Harris
Indian farmers call for boycott of U.S. goods amid escalating trade tensions
Indian farmers’ groups have launched nationwide protests and a boycott of select American goods, particularly beverages and processed foods, in response to U.S. trade policies. The U.S. imposed a 25 percent tariff on Indian imports, citing India’s Russian oil purchases, with a second 25 percent hike set for Aug. 27, effectively doubling the tariff to […]
08/17/2025
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By Laura Harris
Mortgage rates hit five-month low, sparking surge in refinance demand
The average 30-year fixed mortgage rate fell to 6.67 percent as of Aug. 8, the lowest level since March, following weak U.S. job market data that increased expectations of a Fed rate cut. Refinance applications spiked 23 percent, the largest jump since April, as homeowners moved quickly to lock in lower rates. Refinance activity made […]
08/10/2025
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By Laura Harris
Toyota Q2 profit falls nearly 37% due to U.S. tariffs
Toyota reported a 36.9 percent drop in net profit to 841 billion yen ($5.7 billion) for the April to June quarter, largely due to new 25 percent U.S. auto tariffs and a stronger yen. The full-year impact of U.S. tariffs is expected to cut 450 billion yen from Toyota’s operating profit, with additional hits from […]
08/08/2025
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By Laura Harris
Trump unveils 100% semiconductor tariff, but offers full exemptions to U.S. investors like Apple
President Donald Trump announced a proposed 100 percent tariff on foreign-made semiconductors but offered exemptions for companies actively investing in U.S. manufacturing. India, a key iPhone assembly hub, faces phased 50 percent tariffs, while Vietnam, which produces iPads and MacBooks, is already subject to a 20 percent tariff. Additional levies on semiconductor-containing products may follow. […]
08/06/2025
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By Laura Harris
JLR CEO Adrian Mardell retires amid industry upheaval
Adrian Mardell, a 30-year veteran of Jaguar Land Rover and CEO since 2023, is stepping down amid ongoing brand and business upheaval. He led the rebranding of the company to “JLR” and elevated Range Rover, Defender and Discovery as standalone marques. Under Mardell, Jaguar pivoted toward becoming a high-end EV brand, discontinuing all legacy models […]
08/04/2025
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By Laura Harris
BMW profits plunge amid U.S. tariffs, weak demand and Chinese competition
BMW reported a net profit of €4 billion ($4.6 billion) for the first half of 2025, marking its third straight first-half decline, due to U.S. tariffs, softening global demand and rising competition from Chinese EV makers. While BMW didn’t specify exact tariff losses, it warned duties, including a 31 percent EU tariff on Chinese-made electric […]
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