Spike in steel tariffs could imperil Trump promise of lower grocery prices
NEW YORK — President Donald Trump's doubling of tariffs on foreign steel and aluminum could hit Americans in an unexpected place: grocery aisles.
The announcement Friday of a staggering 50% levy on those imports stoked fear that big-ticket purchases from cars to washing machines to houses could see major price increases. But those metals are so ubiquitous in packaging, they're likely to pack a punch across consumer products from soup to nuts.
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CBS News
12 minutes ago
- CBS News
Family of Sarah Milgrim speaks out in first network TV interview since fatal D.C. Jewish museum shooting: "Sarah molded us"
The family of Sarah Milgrim, one of the two Israeli Embassy staffers who was shot and killed outside the Capital Jewish Museum in Washington, D.C., last month, is remembering her as courageous, strong and striving for peace. Milgrim's parents, Robert and Nancy, and her older brother, Jacob, spoke to CBS News' Jonah Kaplan for their first network TV interview since the shooting about how they're processing their grief, Sarah's mission to promote peace in the Middle East and the rise in antisemitism in the United States. "Usually, a parent tries to mold their child. Sarah molded us," Robert Milgrim said. "She was a stronger person than I ever was." "I told Nancy after this happened that I'm a different person now than before this happened, from learning so much about what Sarah did and her courage and her striving for peace," he said. Wednesday marks two weeks since Milgrim and her boyfriend, Yaron Lischinsky, who also worked for the Israeli Embassy, were shot and killed as they left an event at the Capital Jewish Museum. Law enforcement officials described the attack as "targeted" and said the suspect shouted "Free Palestine" as he was being detained. He has been charged with two counts of first-degree murder and other crimes. The interview with the Milgrim family airs Wednesday on "CBS Mornings" and "CBS Evening News."
Yahoo
13 minutes ago
- Yahoo
The number of unsold homes in the U.S. hits a record high — is that good news for buyers?
There's nearly $700 billion in unsold homes sitting on the market nationwide, according to Redfin. That's a 20.3% jump from a year ago and, at $698 billion, likely adds up to the highest dollar amount ever, the Seattle-based online brokerage said, citing an analysis of the value of listings on from 2012 through April of this year. And $330 billion of the unsold properties — 2 out of every 5 — are considered 'stale inventory' because they've been on the market for at least 60 days. At 44%, that number is up from 42.1% a year earlier, and the highest for April since the COVID-19 lockdown in 2020. So what's behind the big numbers? Here's what Redfin says: More sellers than buyers. Just two years ago, buyers outnumbered sellers but another recent Redfin analysis estimated there are nearly 500,000 more now, 1.9 million compared to 1.5 million. That 33.7% difference is up from 6.5% more sellers than buyers a year ago. Taking longer to sell. It took 40 days for a typical home to go under contract in April, compared to 35 days a year ago. During the pandemic buying boom, when mortgage rates were still at record lows, it took an average of just 24 days to seal the deal. Demand down. Polls show buyers are hesitating to make big purchases, due to the economic uncertainty surrounding President Donald Trump's policies, including ever-changing tariffs. Monthly mortgage payments have also reached record highs. Prices up. In April, the median U.S. sale price for a home was up year over year. But the total value of the current inventory climbed much more, 20.3%, indicating the increase in the number of listings 'is a bigger factor.' Denver real estate agent Matt Purdy said on the Redfin site that he spotted the trend earlier this year, at the beginning of the critical spring housing market that's supposed to be the busiest time for sales. 'A huge pop of listings hit the market at the start of spring, and there weren't enough buyers to go around,' Purdy said 'House hunters are only buying if they absolutely have to, and even serious buyers are backing out of contracts more than they used to.' But he suggested there's a silver lining in the shifting market: 'Buyers have a window to get a deal; there's still a surplus of inventory on the market, with sellers facing reality and willing to negotiate prices down.' Redfin's head of economic research, Chen Zhao, also said buyers may benefit. 'Not only are there more homes for sale than there have been in five years, but the value of those homes is higher than it has ever been,' Zhao said. 'We expect rising inventory, weakened demand, and the prevalence of stale supply to push home prices down 1% by the end of this year, which should improve affordability for buyers because incomes are still going up.'
CNN
14 minutes ago
- CNN
Former University of Michigan president rejected for University of Florida's top job amid conservative backlash
Education policy Diversity and equityFacebookTweetLink Follow St. Petersburg, Florida (AP) — Longtime academic Santa Ono was rejected Tuesday for the University of Florida presidency by the state university system board amid sharp criticism from political conservatives about his past support for diversity, equity and inclusion programs and other initiatives they view as unacceptable liberal ideology. The Florida Board of Governors, which oversees the state's universities, voted 10-6 against Ono, who was most recently president of the University of Michigan. The University of Florida Board of Trustees had voted unanimously in May to approve Ono as the school's 14th president, and it is unprecedented for the governors to reverse such an action. Now the search will start all over. Ono's proposed contract included a number of ideological requirements, such as how well he stopped programs that focus on diversity, equity and inclusion, or DEI. He was to cooperate with Gov. Ron DeSantis' Office of Government Efficiency — similar to the office created by President Donald Trump — and appoint other university officials and deans who are 'firmly aligned' with Florida's approach. Several prominent conservatives raised questions about Ono before the vote over pro-Palestinian protests, climate change efforts, gender ideology and DEI programs at the University of Michigan and his previous academic positions. These actions, Republican U.S. Sen. Rick Scott of Florida said on the X social platform, show 'he is willing to appease and prioritize far-left activists over ensuring students are protected and receive a quality education.' Others raising objections include Donald Trump Jr. and Florida GOP U.S. Reps. Byron Donalds, Greg Steube and Jimmy Patronis. Donalds is a Republican candidate for governor. Writing in Inside Higher Ed, Ono said he supported DEI initiatives at first because they aim was 'equal opportunity and fairness for every student.' 'But over time, I saw how DEI became something else — more about ideology, division and bureaucracy, not student success,' Ono wrote, adding that he eventually limited DEI offices at Michigan. 'I believe in Florida's vision for higher education.' DeSantis, a Republican who has pushed reforms in higher education to eliminate what he calls 'woke' policies such as DEI, did not take a public stand on Ono but did say at a recent news conference that some of his statements made the governor 'cringe.' Ono faced similar pointed questions at Tuesday's meeting — especially from former Republican state House speakers Paul Renner and Jose Oliva — leading board member Charles Lydecker to object to the procedure. 'We have never used this as a forum to interrogate. This is not a court of law. Candidly, this process does not seem fair to me,' Lydecker said. Oliva, however, questioned how to square Ono's many past statements about hot-button cultural issues with his more conservative stance now that he sought the Florida job. 'Now we are told to believe you are now abandoning an entire ideological architecture,' Oliva said. 'We are asking someone to lead our flagship university. I don't understand how it becomes unfair.' Steube, writing on X, praised the board for its decision. 'Great news for my alma mater and the state of Florida! The Board of Governors heard us loud and clear: Santa Ono was the wrong choice for UF,' the congressman said. Ono was to replace Kent Fuchs, who became the school's temporary, interim president last summer after ex-U.S. Sen. Ben Sasse stepped down. Sasse left the U.S. Senate, where he had represented Nebraska, to become the university's president in 2023. Sasse announced in July he was leaving the job after his wife was diagnosed with epilepsy. Later reports surfaced that Sasse gave six former staffers and two former Republican officials jobs with salaries that outstripped comparable positions and spent over $1.3 million on private catering for lavish dinners, football tailgates and extravagant social functions in his first year on the job. Ono is also the former president of the University of British Columbia and the University of Cincinnati.
