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Trump’s new tariffs go into effect as US economy shows signs of strain

President Donald Trump’s sweeping new tariffs—ranging from 10% to 100% on imports from over 60 countries, including allies like the EU, Japan, and South Korea—took effect Thursday as the U.S. economy shows growing signs of strain. Trump says the tariffs will spark unprecedented growth and revive U.S. manufacturing, but economists warn of “self-inflicted wounds” as hiring slows, inflation rises, and home values decline.

Key measures include:

• India: Facing 50% tariffs due to its Russian oil purchases, threatening more than half its exports to the U.S.

• Switzerland: Hit with 39% tariffs despite last-minute diplomacy.

• Computer chips: Now taxed at 100%, likely driving up costs for electronics, autos, and appliances.

The trade deficit has already surged 38% year-over-year, while U.S. construction spending has fallen. Global partners like Germany are also seeing industrial slowdowns tied to Trump’s trade policy.

Despite mounting risks, Trump cites a booming stock market and tax cuts as evidence the economy will soon accelerate. Critics argue the tariffs lack clear rationale and risk gradually eroding both U.S. and global growth.

Bottom line: Trump bets tariffs will trigger a manufacturing revival, but so far they’re fueling uncertainty, higher costs, and economic headwinds at home and abroad. Read More.

_{US NEWS}Watch

More homeowners are pulling their properties off the market. Here's why.

A growing number of U.S. homeowners are pulling their properties off the market rather than lowering asking prices, signaling frustration and deadlock in the housing market.

• Delistings surge: Homes taken off the market jumped 38% since January and 48% from a year ago, Realtor.com reports. In June, for every 100 new listings, 21 were delisted—up from 13 in May.

• Market tension: Rising supply (+25% year-over-year in July) hasn’t translated into more sales, as high mortgage rates and steep prices continue to deter buyers. Pending sales fell 3% from last year.

• Seller mindset: Many owners are locked into low mortgage rates and prefer to wait rather than accept lower prices. Pandemic-era price surges also left sellers with higher expectations.

• Regional trends: Miami shows the starkest gap—59 homes delisted per 100 new listings, with fewer than 18% of sellers cutting prices, suggesting confidence in the city’s long-term value.

Bottom line: Rising delistings highlight a standoff—buyers can’t afford today’s prices, while many sellers refuse to lower them—leaving the housing market in a holding pattern. Read More.