Trump Eases Tariffs on USMCA Goods

FINANCE
Trump Eases Tariffs on USMCA Goods

President Trump exempted Mexican and Canadian goods under USMCA from his 25% tariffs, offering relief to key trading partners. The move, linked to immigration and fentanyl tracking, delays tariffs until April 2, when broader duties are expected.

Trump cited progress from Mexico and Canada on border security and drug enforcement, justifying the exemptions. Automobiles meeting USMCA rules are exempt, while Canadian potash faces a 10% duty. However, 62% of Canadian imports and half of Mexican imports remain tariffed. The president warned automakers this relief is temporary.

This reversal follows a market selloff and Republican concerns over economic fallout. Canada postponed additional retaliatory tariffs but kept existing ones on $20.9 billion in U.S. goods.

Trump linked the tariffs, including a 20% duty on China, to anti-fentanyl efforts. Mexico’s president noted security cooperation but warned of potential retaliation if tariffs were enforced. The move comes amid a volatile trade policy shift.

TECH
Twitter Cofounder Launches Mozi App

Twitter cofounder Ev Williams is launching Mozi, a new social media app, at SXSW 2025. Unlike traditional platforms, Mozi encourages real-world interactions by ditching likes and comments. Instead, it alerts users when friends are nearby or attending local events.

Williams, who previously founded Twitter, Blogger, and Medium, created Mozi after realizing he had under-invested in personal relationships. He hopes to refocus social media on genuine connections rather than digital engagement metrics.

The app, which soft-launched months ago, has raised $6 million from investors, including Foursquare and Musical.ly cofounders. With a small team, its challenge now is user adoption.

Williams has criticized social media’s shift toward influencers and engagement-driven content, calling likes and comments “unhealthy.” SXSW, packed with events and networking opportunities, serves as an ideal launchpad. Mozi’s goal? To make social media truly social again by prioritizing real-life friendships over online validation.

ECONOMY
Mortgage Rates Hit 2025 Low

Mortgage rates dropped to 6.72%, their lowest level this year, down from 7.26% in January. Zillow senior economist Kara Ng credits the decline to weak consumer sentiment and economic uncertainty, calling it a “promising opportunity” for homebuyers.

Lower rates have already led to a 20% jump in mortgage applications, signaling a stronger spring homebuying season. While home prices remain high—the average existing home price is $409,000, up over $100,000 from five years ago—some sellers are cutting prices, offering further relief to buyers.

Ng expects the rate dip to bring both buyers and sellers back into the market, though she warns rates could rise again if inflation concerns resurface. The Mortgage Bankers Association predicts a 10% increase in purchase originations, reaching $1.4 trillion in 2025.

With economic uncertainty persisting, future mortgage rate movements will depend on inflation and job market trends, key factors influencing Federal Reserve policy.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.