Trump's Tariffs on Canadian Lumber

Americans Join ‘No Buy 2025’ to Fight Rising Costs

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In today edition we will talk about

  • Trump’s $1.4 Trillion Tariff Gamble: Risks for Economy and Prices

  • Americans Join ‘No Buy 2025’ to Fight Rising Costs

  • Trump's Tariffs on Canadian Lumber May Worsen U.S. Housing Crisis

Trump’s $1.4 Trillion Tariff Gamble: Risks for Economy and Prices

Higher consumer costs, job losses, and inflation concerns loom

Former President Donald Trump plans to impose massive tariffs on goods from the U.S.'s top trading partners—Mexico, Canada, and China. This move is a risky gamble that could lead to higher prices at grocery stores, increased car costs, and disruptions to the supply chain.

Economic Risks and Consumer Prices

  • Economists warn the tariffs might hurt consumers by making everyday goods more expensive. Grocery prices could rise as Mexico supplies many fruits and vegetables, while Canada leads in grains and meat.

  • Auto prices might increase by up to $3,000 due to supply chain chaos.

Potential Inflation and Growth Slowdown

  • The tariffs could reduce the U.S.'s GDP growth by 1.5% in 2025 and 2.1% in 2026.

  • Economists fear "stagflation," where inflation rises, and economic growth slows simultaneously.

Impact on the Federal Reserve

  • If tariffs spark inflation, the Federal Reserve may delay cutting interest rates, affecting economic recovery.

Experts warn this aggressive tariff move is "playing with fire," with a potential for long-term harm to the economy unless a last-minute agreement is reached.

Americans Join ‘No Buy 2025’ to Fight Rising Costs

Cutting back on spending to save money amid economic uncertainty

Many Americans are pledging to buy only essentials in a growing trend called "No Buy 2025." This movement aims to combat overconsumption and save money as living costs continue to rise.

Why Are People Joining?

  • Economic uncertainty and rising prices for groceries, gas, and everyday goods have pushed families to spend less.

  • Participants avoid impulse buys, use up what they already have, and cut out non-essentials like professional haircuts or frequent dining out.

Real-Life Impact

  • Families are saving hundreds per month by reducing spending on unnecessary items.

  • Some find creative ways to enjoy life, such as visiting parks, libraries, or picking up new hobbies that don't require shopping.

As prices climb and economic anxieties persist, many believe these spending habits are essential for navigating uncertain financial times.

Trump's Tariffs on Canadian Lumber May Worsen U.S. Housing Crisis

Experts warn of rising home costs due to new import taxes

President Trump claims America has enough trees and doesn’t need Canadian wood, imposing a 25% tariff on Canadian lumber. However, builders warn this move could make homes even more expensive as the U.S. lacks the capacity to meet wood demand.

Key Points:

  • Softwood lumber from Canada is crucial for U.S. homebuilding, making up 30% of supply.

  • Tariffs may add billions to construction costs, worsening the housing affordability crisis.

  • Building the domestic lumber industry would take years due to regulations and labor shortages.

Experts say these tariffs may lead to higher prices for homebuyers, making an already strained housing market even worse.

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