What we’re reading (4/2)
“Trump Announces Tariffs, The Highest Import Taxes Since The 1800s” (Axios). “President Trump announced a baseline 10% tariff on U.S. imports, with steeper reciprocal levies on goods from Europe, Japan, China and more than 50 other nations.”
“Oil Imports Exempted From Trump’s Sweeping Tariffs” (Reuters). “Imports of oil, gas and refined products were exempted from U.S. President Donald Trump’s sweeping new tariffs, the White House said on Wednesday. The exemption will come as a relief to the U.S. oil industry, which had expressed concerns that new levies could disrupt flows and raise costs on everything from Canadian crude oil serving Midwest refineries to European cargoes of gasoline and diesel to the eastern seaboard.”
“Amazon Said To Make A Bid To Buy TikTok In The U.S.” (New York Times). “Amazon has put in a last-minute bid to acquire all of TikTok, the popular video app, as it approaches an April deadline to be separated from its Chinese owner or face a ban in the United States, according to three people familiar with the bid. Various parties who have been involved in the talks do not appear to be taking Amazon’s bid seriously, the people said. The bid came via an offer letter addressed to Vice President JD Vance and Howard Lutnick, the commerce secretary, according to a person briefed on the matter.”
“Will Mortgage Rates Ever Be 3% Again?” (Yahoo! Finance). “In 2021, the average 30-year mortgage rate fell below 3% — now it’s well over 6%. If you’re in the market for a mortgage loan, you may be wondering if you should wait until interest rates fall significantly before buying a house. When will mortgage rates finally drop back down near the 3% mark?”
“Trump Attorney Studied Options For Third Presidential Term” (Wall Street Journal). “Epshteyn, who is now the president’s outside counsel, didn’t provide a comment for this article. Steven Cheung, the White House communications director, said that ‘it’s far too early to think about’ a third term.”
