Mapped: average tariff rates by country

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Mapped: average tariff rates by country link

• The U.S. announced sweeping new tariffs in April 2025, including 34% on China, 20% on the EU, and a 10% baseline on all countries starting April 9. Additional country-specific tariffs include 24% on Japan, 26% on India, and 49% on Cambodia.

• These new tariffs represent a major shift from the 2023 U.S. trade-weighted average tariff of 2.2%, marking a significant policy reversal. China had a 3.0% average tariff in 2023, while India was much higher at 12.0%.

• Retaliation is likely, with the EU and others expected to increase their own tariffs in response. Countries like Taiwan (1.7%) and Japan (1.9%) previously kept tariffs low to promote trade but now face steep U.S. levies.

Top 10 wellness tech trends transforming hospitality in 2025 link

• Wellness tourism is now a $651 billion industry and is projected to grow at 16.6% annually through 2027. Over half of American travelers now prioritize trips that support longevity and overall well-being.

• Guests expect personalized wellness journeys integrated into their stay, with mobile-first experiences becoming the standard. Real-time app features like waitlists and instant booking updates are key differentiators.

• Hotels are shifting from traditional spa services to full wellness ecosystems that blend fitness, recovery, nutrition, and mental health. Seamless tech integration across services is critical for guest satisfaction.

Fed Chair Powell speaks out on the impacts of Trump’s tariffs link

• Jerome Powell warned that Trump's global tariffs will likely drive inflation higher and slow economic growth more than expected. Some forecasts say inflation could rise by a full percentage point in 2025 due to the tariffs.

• The stock market dropped sharply after China announced a 34% retaliatory tariff on U.S. imports, with the Dow falling nearly 5%—its biggest single-day loss since June 2020. Investor confidence is falling, and expectations for employment growth are weakening.

• Mortgage rates hit a new year-to-date low as bond yields dropped from a flight to safety. Lower rates could offer short-term relief to the housing market, but future volatility remains tied to tariff resolution.

March 2025 monthly housing market trends report link

• Pending home sales dropped 5.2% year-over-year in major metros, with sharp declines in Jacksonville, Miami, Memphis, and Virginia Beach. Meanwhile, San Jose, Sacramento, and San Francisco saw slight increases as affordability improved or stabilized.

• Inventory rose for the 17th straight month, up 28.5% from a year ago, with Denver, San Jose, and Las Vegas leading gains. However, supply still lags pre-pandemic levels, especially in the Midwest and Northeast.

• The median list price held steady at $424,900, but 17.5% of listings had price cuts—the highest for March since 2016. Price reductions were most common in Phoenix, Tampa, and Jacksonville.

Lower mortgage rates are spurring housing demand link

• Mortgage rates recently hit a year-to-date low, helping boost purchase applications, which saw a 9% year-over-year increase last week. If rates drop to around 6%, existing home sales are expected to grow meaningfully this year.

• Weekly pending sales rose to 367,776, beating both 2024 and 2023 numbers. New listings also jumped to 71,775 last week, showing sellers are returning as rates ease.

• Inventory grew from 675,558 to 691,197 in just one week, with price cuts hitting 35% of active listings. Despite modest projected home price growth of 1.77% for 2025, real price growth remains negative due to high rates and rising supply.

Office and retail converting to schools in Santa Monica link

• More than 200,000 square feet of office and retail space in Santa Monica is being converted into classrooms for thousands of K-12 students displaced by the Palisades wildfire. The Water Garden, Colorado Center, and a former Sears building are now hosting schools like Calvary Christian, Village School, and Palisades Charter High.

• Santa Monica's office vacancy reached 31% in Q4 2024, prompting landlords to find creative reuse solutions. These temporary school leases are revitalizing commercial areas and bringing new energy to campuses that previously had high vacancy.

• The former Sears building near the Third Street Promenade is being adapted for 2,445 students at a cost of $11 million, funded mostly by insurance. The school holds a six-month lease with options to extend, offering quick recovery space for displaced students.

DocumentCrunch

DocumentCrunch is an AI-powered platform that helps users quickly review, understand, and manage construction contracts and project documents by highlighting key risks and provisions, improving efficiency and reducing legal exposure.

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A beautiful one room 1867 schoolhouse

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