logo
Home prices record first monthly drop since 2022: Redfin

Home prices record first monthly drop since 2022: Redfin

Yahoo20-05-2025
(NewsNation) — Elevated mortgage rates and economic uncertainty have sidelined buyers, and for the first time in years, home prices are starting to slip.
According to the Redfin Home Price Index, U.S. home prices dipped 0.1% in April on a seasonally adjusted basis — the first monthly drop since September 2022.
Though small, the decline reflects a broader shift in the balance of power, with buyers starting to regain leverage in many major markets.
In April, prices fell month over month in half of the 50 largest metros, led by Charlotte (-1%), Virginia Beach (-1%) and Miami (-0.7%), per Redfin's index.
Homebuying season: 4 things to know about the 2025 housing market
Flattening home prices provide further evidence that the 2025 spring homebuying season could be the slowest in years. The typically busy period is already off to a sluggish start, as uncertainty around President Trump's tariffs weighs heavily on consumer confidence.
'There's a general feeling of anxiety in the housing market because no one knows what they're going to read in the news when they wake up,' Dan Close, a Redfin Premier real estate agent in Chicago, said in a report this week.
The supply of homes for sale is now at a five-year high, and more sellers are offering concessions to get deals done, according to Redfin.
Homesellers want nearly $39K more than buyers will pay
Still, affordability remains a challenge. On a year-over-year basis, home prices were up 4.1% in April, according to Redfin's Home Price Index. While that's the slowest annual price growth since July 2023, it hardly suggests that homeownership is becoming more attainable for most families.
As with all things in real estate, conditions vary by market, and in many metros, prices continued to climb in April.
Prices rose fastest in Nassau County, New York (1.8% month over month); Warren, Michigan (1.3%); and New York (1.2%).
In cities like Detroit, New Brunswick and Philadelphia, home prices are up more than 12% year over year, Redfin found.
The Redfin Housing Price Index reflects seasonally adjusted changes in the prices of single-family homes. It tracks how sale prices have changed over time by comparing a home's most recent sale to its previous sale.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Apple announces additional $100 billion in US investment, following Trump iPhone tariff threat
Apple announces additional $100 billion in US investment, following Trump iPhone tariff threat

Yahoo

timea minute ago

  • Yahoo

Apple announces additional $100 billion in US investment, following Trump iPhone tariff threat

Apple (AAPL) announced plans to invest an additional $100 billion in US manufacturing commitments ahead of a press conference scheduled with President Trump at the White House Wednesday. The move follows Apple's prior $500 billion investment in US spending, which includes working with partners to build an AI server plant in Texas. Apple says that the $100 billion announcement includes its new American Manufacturing Program (AMP), which the company says will incentivize global companies to build critical components in the US. The tech giant says its first AMP partners will include Corning, Coherent, GlobalWafers America, Applied Materials, Texas Instruments, Samsung, GlobalFoundries, Amkor, and Broadcom. As part of the investment, Apple is making a $2.5 billion commitment to produce all of the cover glass for its iPhones and Apple Watches at Corning's Harrodsburg, Kentucky, manufacturing facility. The two companies will also work to open an Apple-Corning Innovation Center at the plant to help develop and engineer materials and next-generation manufacturing platforms for future Apple products. Apple also says it has entered into a multi-year agreement with Coherent to produce lasers for its Face ID feature for the iPhone and iPad. The company is also touting what is says is a end-to-end American silicon supply chain, which includes sourcing silicon wafers from GlobalWafers in Sherman, Texas, for use in American chip factories, working with Applied Materials to increase production of semiconductor manufacturing technologies, and getting semiconductors from Texas Instruments. Apple is further teaming up with Samsung to work on new chip making technologies at its plant in Austin, Texas, as well as with GlobalFoundries and Amkor for bring more chip manufacturing and packaging to the US, respectively. Apple's news comes after the Trump administration began pressuring the tech giant to manufacture its iPhone in the US, going so far as to threaten to impose a 25% tariff on the devices if the company didn't comply. Apple's announcement also comes as the company prepares for a new 25% tariff on goods destined for the US from India. That's in addition to an existing 25% levy Trump previously said he would apply to the country's products. Apple builds the majority of the iPhones headed to the US in India, after diversifying its supply chain beyond China following the COVID-19 pandemic. The company still produces iPhones for the rest of the world in China. Trump has repeatedly criticized Apple for building its iPhones abroad, with the administration saying the company should instead bring its manufacturing facilities to the US. In May, Trump said he "had a little problem with Tim Cook," while discussing the company's decision to build US iPhones in India. But industry experts say doing so would be a Herculean task even for Apple, due to a lack of available skilled workers and limited supply chain resources in the country. Even if those factors weren't an issue, it would take years to complete construction of an iPhone plant, at which point Trump would no longer be in office. During its most recent quarterly earnings report, Apple said it took an $800 million hit due to existing tariffs and anticipated an additional $1.1 billion in related costs in its current quarter. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley.

Trading Day: Wall St momentum calms tariff shakes
Trading Day: Wall St momentum calms tariff shakes

Yahoo

timea minute ago

  • Yahoo

Trading Day: Wall St momentum calms tariff shakes

By Jamie McGeever ORLANDO, Florida (Reuters) -TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist Wall Street rallied on Wednesday as investors continued to take their cue from earnings and AI-related optimism over tariffs, while a weak 10-year Treasury note auction served as a reminder of the precarious U.S. fiscal situation. More on that below. In my column today I look at how investors' apparent readiness to accept tariffs challenges the orthodoxies that have underpinned economic liberalism and world markets for the past 40 years. If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today. 1. Trump imposes additional 25% tariff on Indian goods,relations hit new low 2. India-U.S. spat over trade and oil threatens widerfallout 3. Lula rejects 'humiliation' of calling Trump overU.S.-Brazil tariff 4. Biden-era appointees could stymie Trump's effort toreshape Fed 5. Bank of England's long unwinding road: Mike Dolan Today's Key Market Moves * FX: Dollar index falls 0.5%, its fourth straightdecline. Brazil's real rises 0.8% to a one-month high of 5.45/$. * STOCKS: Nasdaq climbs 1.2%, the best performing majorindex on Wall St. * SHARES/SECTORS: U.S. consumer discretionary index +2.5%,consumer staples index +1.8%. Apple +5%, Super Micro Computer-18%. * BONDS: A weak 10-year Treasury auction pusheslonger-dated yields up as much as 5 bps, steepening the curve. * COMMODITIES: Oil falls for a fifth day, hits newfive-week lows after U.S. Secretary of State Marco Rubiosuggests there may be an announcement on potential sanctionsagainst Russia. Wall St momentum calms tariff shakes Positive investor sentiment and risk appetite were on full display on Wednesday, as optimism around corporate earnings and the U.S. tech boom again overshadowed more worrisome global developments on tariffs and growth. Traders cheered news that ChatGPT maker OpenAI is mulling a stock sale that could value the company at $500 billion and Apple's pledge to spend $100 billion on U.S. manufacturing. U.S. earnings continue to surprise to the upside too, and the S&P 500 consumer discretionary index rose 2.4%, its best day since May. Wall Street stood in contrast to a more subdued global session. Benchmark Asian, emerging and European indices were all flat on Wednesday, with the Trump administration's tariffs weighing on sentiment across the board. The major exception was China, where blue chip stocks closed at their highest in more than three and a half years on hopes that the United States and China will strike a trade deal in the coming days. Trade-related optimism elsewhere, however, is in much shorter supply. U.S. President Donald Trump on Wednesday slapped further import duties on India, bringing the total tariff rate to 50%, while Brazil's President Luiz Inacio Lula da Silva told Reuters that relations with the U.S. are at a 200-year low. Some Fed officials, meanwhile, are signaling growing unease about the U.S. labor market and economy. Minneapolis Fed President Neel Kashkari and San Francisco Fed President Mary Daly on Wednesday said interest rates should probably be lowered in the coming months. In bonds, a weak $42 billion sale of 10-year U.S. government bonds drew the weakest demand in a year, and followed a somewhat disappointing auction of $58 billion three-year notes the day before. Thursday's $25 billion sale of 30-year bonds will come under even greater scrutiny. Also on Thursday, the Bank of England is widely expected to cut its key interest rate to 4% from 4.25%. But the challenges facing the Bank are significant - the fiscal outlook appears to be deteriorating sharply, and inflation is close to double the central bank's 2% target. Before that China announces July trade data, with economists expecting export growth to slow and the surplus to narrow. Earlier this week, official U.S. figures showed that the U.S. trade gap with China in June shrank to its lowest in more than 21 years. Markets' tariff resilience challenges long-standing economic orthodoxy Investors have been living in a real-time economic experiment ever since U.S. President Donald Trump returned to the White House in January. Whether it's tariffs, "America First" isolationism, overt politicization of independent economic institutions, or upended global economic norms, markets are having to deal with challenges few investors have faced before. So how are they reacting to the leader of the free world ripping up the economic playbook that has shaped the global financial system for 40 years? Wall Street and world stocks are at record highs, U.S. high yield corporate bond spreads are the tightest since before the 2007-08 global financial crisis, and Treasuries are remarkably calm, with the 10-year yield below its average of the last two years. It's not all serene, of course. The U.S. "term premium" - a measure of the extra compensation investors demand for holding long-dated Treasuries over short-term debt - is the highest in over a decade. Inflation expectations and long-dated yields have shot up too. And one needs to acknowledge that the full impact of Trump's tariffs has yet to be fully felt. But, at this point there has been no U.S. recession, even if growth is slowing. And the market plunge on the back of Trump's April 2 "Liberation Day" tariff debacle lasted a few weeks. The powerful stock market recovery since then suggests investors were less bothered by the actual tariffs than the shock of the initial announcement, the chaotic way it was delivered, and the amateurish way the levies were calculated. This outcome is not what economic textbooks would have predicted. ONE FOR YOU, 19 FOR ME Tariffs are a tax. And the overall U.S. average effective tariff rate looks likely to be around 18%, according to the Budget Lab at Yale. That's down from an estimated 28% in May but still nearly eight times higher than the level in December. Who will ultimately pay this tax is up for debate, but if sustained at that level, the president of the United States will have effectively imposed a tax hike worth around 1.8% of GDP, one of the largest in U.S. history. But wait. Aren't higher taxes bad for business, markets and growth? Don't higher taxes sap consumers' spending power, stunt investment and hiring, and crush the private sector's entrepreneurial spirit? Markets' relatively speedy acceptance raises the question: What happened to the last 40 years of economic orthodoxy, symbolized by the so-called "Washington Consensus"? This was the set of principles drawn up in the late 1980s that broadly mirrored the views of the Washington-based International Monetary Fund, World Bank and U.S. Treasury, ostensibly to help direct policy in Latin America but which ultimately served as the economic framework for Western liberal democracies and global markets. They included support for privatization, deregulation, the free flow of capital, fiscal discipline, and lower taxes. They also entailed lower barriers to trade, a cornerstone of globalization. For years these tenets were regarded by policymakers, business leaders and investors as sacrosanct. Some, like rigid adherence to tight fiscal policy, were put to the test - and shown to be flimsy, at best - during the GFC and pandemic. So now that the tariff line has been crossed, what about other economic commandments? Could governments look to raise tax revenue from other sources, such as wealth taxes on the super rich, a "Tobin tax" on foreign exchange transactions, or other "soft" capital controls? These are obviously anathema to the doctrine of free market capitalism. But then so were tariffs. To be fair, we are just entering this new era. And as my colleague Mike Dolan observed earlier this week, even if tariffs don't send the economy or markets into a tailspin, they may still lead to a "slow burn," with many years of lost economic potential, elevated volatility and lower investment returns. But investors aren't looking that far ahead. What they see right now is a pretty resilient U.S. economy, solid earnings growth, and red-hot optimism around U.S. tech and AI. And some of the old orthodoxies may be in the rear-view mirror. What could move markets tomorrow? * Australia trade (June) * Japan earnings, including Softbank, Sony, Toyota * China trade (June) * China FX reserves (June) * Bank of England interest rate decision * Germany trade (June) * Germany industrial production (June) * U.S. weekly jobless claims * U.S. Treasury auctions $25 bln of 30-year bonds * U.S. earnings including Eli Lilly, ConocoPhillips, GileadSciences, Motorola * Atlanta Fed President Raphael Bostic speaks Want to receive Trading Day in your inbox every weekday morning? Sign up for my newsletter here. Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. (By Jamie McGeever; Editing by Nia Williams) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Trump tariffs live updates: India hit with 50% tariffs as Trump's sweeping trade measures roll out
Trump tariffs live updates: India hit with 50% tariffs as Trump's sweeping trade measures roll out

Yahoo

timea minute ago

  • Yahoo

Trump tariffs live updates: India hit with 50% tariffs as Trump's sweeping trade measures roll out

President Trump on Wednesday signed an executive order imposing an additional 25% tariff on India over its purchases of Russian oil. The new tariff, which will come into effect in 21 days, is set to "stack" on top of an existing country-specific tariff of 25%. In doing so, Trump is set to make good on a threat for higher tariffs on India, as he has accused the country of effectively financing the Russian war in Ukraine. "They're fueling the war machine," he charged in a CNBC interview. India's first 25% levy takes effect Thursday, part of scores of new duties that will see importers paying between 10% to 50% as they bring in goods from nearly 200 countries around the globe. Outside of India, Switzerland is the developed nation whose goods face a whopping increase: up to 39%. You can see the new rates Trump is set to levy in the graphic below: Trump also said this week that he would soon announce tariffs on semiconductor and pharmaceutical imports, as he prepares to add more sectoral duties to his mix of tariffs. He said duties on pharma could eventually balloon as high as 250%. In the past several days, Trump has unleashed a flurry of deals and trade moves leading up to his self-imposed deadline: Trump granted Mexico, the US's largest trading partner, a 90-day reprieve on higher tariffs. Trump hiked tariffs on Canadian imports to 35%, though goods contained in the US-Mexico-Canada agreement are exempt, keeping this hike's impact limited so far. The US agreed to a trade deal with South Korea. The agreement includes a 15% tariff rate on imports from the country, while the US will not be charged a tariff on its exports. Trump imposed 50% tariffs on semi-finished copper products starting Aug. 1. The president signed an order to end the de minimis exemption on low-value imports under $800, thereby applying tariffs from Aug. 29. Trump signed another order to impose a total of 50% tariffs on many goods from Brazil. However, it exempts key US imports like orange juice and aircraft parts that benefit Embraer (ERJ). The US and EU agreed to a trade deal that imposes 15% tariffs on EU goods. The nations are still working on finalizing many terms of the deal. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. Trump hits India with additional 25% tariff over Russia oil buys President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US president threatened India with higher tariffs earlier this week, which India's Prime Minister Narendra Modi called "unjustified," also calling out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. In the early days of trade negotiations, relations between the US and India appeared more friendly, with both sides saying they would reach a deal within days. However, over recent months ,things seem to have turned sour as neither side can agree on some of the finer details within the deal, which concern dairy and agricultural products. As a result, a trade war seems to have developed between the two sides, and now with this additional 25% tariff gift from Trump to Modi, the two seem further away from reaching an agreement than ever before. Modi's rival blasts 'bully' Trump as public opinion hardens Rahul Gandhi, Narendra Modi's most recognizable political rival, has come out to call President Trump a "bully" for his negotiation tactics. Bloomberg reports: Read more here. Trump order lowering tariffs on EU autos still days away: source European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. Alcohol groups say tariffs put $2B in sales and 25,000 jobs at risk In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. Carney says he'll look at opportunities to remove tariffs on US Canadian Prime Minister Mark Carney said that he will look to assess ways in which he can remove some counter-tariffs against the US. Carney's statement seems at odds with his earlier commitments to fight back against President Trump's trade war. Bloomberg News reports: Read more here. Trump says Japan to import Ford's huge F-150 pickup trucks President Trump said that Japan has agreed to accept imports of Ford's F-150 pick up trucks. This latest news is seen as a sign that the two sides may not be on the same page when it comes to their understanding of the trade agreement reached last month. Bloomberg News reports: Read more here. US investments under trade deal will be determined by benefits for Tokyo: Japan Reuters reports: Read more here. Honda Q1 operating profit halves on tariffs Shares in Honda Motor (HMC) rose 2% premarket on Wednesday after the automaker reported a 50% drop in first-quarter operating profit. A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. China draws red lines on US chip tracking with Nvidia meeting China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. Trump says he's readying more tariffs on Russian energy buyers Bloomberg News reports: Read more here. Canada to help lumber industry cope with US tariffs: Carney Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Starbucks under pressure again as Brazilian tariffs hike coffee costs Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. EU continues to press for tariff exemption on wine, spirits as part of US deal The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. Countries push for last-minute deals as Thursday tariff deadline looms Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Trump's copper tariffs apply to $15B of products so far President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. Trump threatens EU with increased tariffs if it doesn't meet investment pledge President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. Trump says pharma duties could go to 250% President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." US tariff on EU goods set at flat 15% The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. India hits back at Trump's tariff threat India has called out President Trump after he threatened to "substantially raise" tariffs on Indian exports over its Russian oil purchases, slamming the move as unjustified. New Delhi said it would take all necessary steps to protect its economic interests. Bloomberg News reports: Read more here. Nvidia partner Hon Hai's July sales growth weakened by tariffs Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( reported a sales slowdown for July due to US tariffs. Bloomberg News reports: Read more here. President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US president threatened India with higher tariffs earlier this week, which India's Prime Minister Narendra Modi called "unjustified," also calling out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. In the early days of trade negotiations, relations between the US and India appeared more friendly, with both sides saying they would reach a deal within days. However, over recent months ,things seem to have turned sour as neither side can agree on some of the finer details within the deal, which concern dairy and agricultural products. As a result, a trade war seems to have developed between the two sides, and now with this additional 25% tariff gift from Trump to Modi, the two seem further away from reaching an agreement than ever before. Modi's rival blasts 'bully' Trump as public opinion hardens Rahul Gandhi, Narendra Modi's most recognizable political rival, has come out to call President Trump a "bully" for his negotiation tactics. Bloomberg reports: Read more here. Rahul Gandhi, Narendra Modi's most recognizable political rival, has come out to call President Trump a "bully" for his negotiation tactics. Bloomberg reports: Read more here. Trump order lowering tariffs on EU autos still days away: source European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. Alcohol groups say tariffs put $2B in sales and 25,000 jobs at risk In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. Carney says he'll look at opportunities to remove tariffs on US Canadian Prime Minister Mark Carney said that he will look to assess ways in which he can remove some counter-tariffs against the US. Carney's statement seems at odds with his earlier commitments to fight back against President Trump's trade war. Bloomberg News reports: Read more here. Canadian Prime Minister Mark Carney said that he will look to assess ways in which he can remove some counter-tariffs against the US. Carney's statement seems at odds with his earlier commitments to fight back against President Trump's trade war. Bloomberg News reports: Read more here. Trump says Japan to import Ford's huge F-150 pickup trucks President Trump said that Japan has agreed to accept imports of Ford's F-150 pick up trucks. This latest news is seen as a sign that the two sides may not be on the same page when it comes to their understanding of the trade agreement reached last month. Bloomberg News reports: Read more here. President Trump said that Japan has agreed to accept imports of Ford's F-150 pick up trucks. This latest news is seen as a sign that the two sides may not be on the same page when it comes to their understanding of the trade agreement reached last month. Bloomberg News reports: Read more here. US investments under trade deal will be determined by benefits for Tokyo: Japan Reuters reports: Read more here. Reuters reports: Read more here. Honda Q1 operating profit halves on tariffs Shares in Honda Motor (HMC) rose 2% premarket on Wednesday after the automaker reported a 50% drop in first-quarter operating profit. A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. Shares in Honda Motor (HMC) rose 2% premarket on Wednesday after the automaker reported a 50% drop in first-quarter operating profit. A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. China draws red lines on US chip tracking with Nvidia meeting China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. Trump says he's readying more tariffs on Russian energy buyers Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. Canada to help lumber industry cope with US tariffs: Carney Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Starbucks under pressure again as Brazilian tariffs hike coffee costs Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. EU continues to press for tariff exemption on wine, spirits as part of US deal The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. Countries push for last-minute deals as Thursday tariff deadline looms Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Trump's copper tariffs apply to $15B of products so far President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. Trump threatens EU with increased tariffs if it doesn't meet investment pledge President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. Trump says pharma duties could go to 250% President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." US tariff on EU goods set at flat 15% The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. India hits back at Trump's tariff threat India has called out President Trump after he threatened to "substantially raise" tariffs on Indian exports over its Russian oil purchases, slamming the move as unjustified. New Delhi said it would take all necessary steps to protect its economic interests. Bloomberg News reports: Read more here. India has called out President Trump after he threatened to "substantially raise" tariffs on Indian exports over its Russian oil purchases, slamming the move as unjustified. New Delhi said it would take all necessary steps to protect its economic interests. Bloomberg News reports: Read more here. Nvidia partner Hon Hai's July sales growth weakened by tariffs Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( reported a sales slowdown for July due to US tariffs. Bloomberg News reports: Read more here. Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( reported a sales slowdown for July due to US tariffs. Bloomberg News reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store