They've found a bold fix for the condo crisis sweeping the South... it's sparking an angry backlash
Billionaire real estate developer Isaac Toledano plans to completely alter the Miami skyline.
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Daily Mail
7 minutes ago
- Daily Mail
Trump's final tariffs doomsday is HERE as Americans brace for price hikes on favorite everyday items
President Donald Trump 's tariffs on over 60 countries go into effect at midnight after 18 weeks of tough negotiations following his dramatic 'Liberation Day' tariff threats in April. Last week, he gave a last-minute extension to some countries that were still working on a deal with the United States. But now doomsday is finally here. Tariffs on over 60 countries range up to as high as 50 percent - for those considered to have 'unfair' trading policies with the U.S. Trump recently slapped a 50 percent tariff on most Brazilian goods after Brazil 's president continues to defy the president's demands to end a 'witch hunt' prosecution of former President Jair Bolsonaro. The executive order, however, exempted some Brazil exports from the tariffs such as aircraft, pig iron, precious metals, wood pulp, energy, orange juice, and fertilizer. Major Brazilian exports such as beef and coffee were not exempted. One major country facing steep tariffs is India, after the president on Wednesday implemented an additional 25 percent tariff that will go into effect on August 27, after the United States already set a 25 percent tariff on the country on August 1. The president said the decision to level additional tariffs was due to India purchasing Russian oil, which he told CNBC on Tuesday was 'fueling the war machine' as Russian President Vladimir Putin continues his war in Ukraine. Mexico was granted a 90-day extension as officials continue to negotiate. But the president imposed a 35 percent tariff on Canada. Imported goods from Canada that fall under the USMCA trade deal, however, are not affected by the additional tariffs. Other countries that have yet to make a trade deal with the United States include Switzerland, South Africa, Brunei, Cambodia, Bolivia, Ecuador, Iceland, Nigeria, Sri Lanka, New Zealand, Turkey, Norway, Iran, North Korea, and Russia. The United States and China agreed to extend trade talks to August 12, following successful negotiations in July with American and Chinese officials in Stockholm. Ahead of sharp deadlines in August, Trump made major strides with his negotiations in late July after announcing trade deals with the United Kingdom and the European Union. Trump boasted of agreements with European officials that secured billions of dollars of investments into the United States. A $550 billion trade deal with Japan was also set earlier in July. The additional tariff hikes on some countries threaten to raise the cost of everyday goods such as food and produce, clothing, automobiles and parts, steel, copper, aluminum, and electronics. Many American importers are eating the costs of tariffs rather than pass them on to the consumer, but warn that they will not be able to continue long term. The United States has collected $152 billion in gross revenue for the calendar year so far as Treasury Secretary Scott Bessent has predicted that tariff revenue could generate as much as $300 billion by the year's end. President Trump defended his tariffs in an interview on CNBC on Tuesday, declaring that people in the United States 'love the tariffs.' 'They love their country, and they love that foreign countries aren't ripping us off. For years, they ripped us off. Friend and foe,' he said. 'And the friend was worse.'
Reuters
7 minutes ago
- Reuters
Indian auto dealers hopeful ahead of festive season, US tariff fears persist
Aug 7 (Reuters) - India's upcoming festive season is expected to lift near-term sentiment among auto dealers, but U.S. tariffs could dent consumer confidence, prompting higher household savings and weighing on discretionary spending, including vehicles, the Federation of Automobile Dealers Association (FADA) said on Thursday. Vehicle dealers expect major festivals, including Rakhi, Janmashtami, Independence Day and Ganesh Chaturthi, along with targeted promotional schemes and healthy stock levels to drive sales. However, the anticipated wealth erosion from fresh tariffs by the U.S. could erode consumer confidence, trigger a precautionary rise in household savings and exert pressure on discretionary spending, including on vehicles, FADA said.
BBC News
7 minutes ago
- BBC News
Trump's new tariffs take effect in trade war escalation
US President Donald Trump's sweeping new tariffs on countries around the world have come into effect in an escalation of his trade war."IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!" he said on social media minutes before midnight in Washington, on Wednesday, Trump hit India with a 50% tariff on its goods, which will take effect on 27 August unless it stops buying Russian also threatened a 100% tariff on foreign-made computer chips as he pushes tech firms to invest in the US. It came as Apple announced a new $100bn US investment (£75bn) after coming under pressure from the president to move more production to America. Last week, the White House announced a revised list of import taxes on dozens of trading partners and extended a deadline for countries to reach deals with the US to 7 have been racing to strike deals with Washington to lower - or scrap - what Trump calls "reciprocal tariffs".His trade policies are aimed at reshaping the global trading system, which he sees as treating the US economies in South East Asia were among the hardest-hit by Trump's Laos and Myanmar faced some of the highest levies at 40%. Some experts said Trump appears to have targeted countries with close trade ties with major economies - including the UK, Japan and South Korea - have already reached agreements to get lower tariffs than Trump threatened to impose on European Union has also struck a framework deal with Washington, in which Brussels has accepted a 15% tariff on the the trading a key Washington ally in Asia, was handed a 20% tariff. Its president Lai Ching-te said the rate is "temporary" and that talks with the US are still week, Trump boosted the tariff rate on Canada from 25% to 35%, saying the country had "failed to cooperate" in curbing the flow of fentanyl and other drugs across the US border. The Canadian government says it is cracking down on drug most goods Canadian exports to the US will dodge the import tax due to an existing trade treaty, the United States-Mexico-Canada Agreement (USMCA).Higher tariffs on Mexico were paused for another 90 days as negotiations continue to strike a trade deal. On Wednesday, Trump's said he would impose a 100% tariff on foreign-made chipmakers that have made significant investments in the US appear to have dodged the new tariff. Government officials in Taiwan and South Korea have said in separate statements that TSMC, SK Hynix, and Samsung would be exempt from the new White House did not immediately respond to a BBC request for BBC has also contacted SK Hynix and Samsung. TSMC declined to on Wednesday, Trump raised the total tariff on India to 50% as he pushes the world's third largest importer of energy to stop buying oil from Delhi has called the move "unfair, unjustified and unreasonable" and vowed to protect its national exports to the US also face a 50% tariff. Trump imposed the levy after accusing President Luiz Inacio Lula da Silva of unfairly attacking US technology firms and calling the prosecution of former President Jair Bolsonaro for allegedly attempting a coup a "witch hunt".The US and China have held a series of talks as they tried to agree an extension to a 90-day tariffs pause that is due to expire on 12 August.
