Data and Financial Journalist
Beginning midnight, Oct. 14, 2025, imports of select wood and furniture items—including softwood, kitchen cabinets, bathroom vanities, and upholstered furniture—face new Section 232 tariffs, targeting imports of timber, wood products, furniture, and cabinetry.
Persistently high inflation makes this reduction a tricky one. The interest rate cut is the first in Trump’s second term as well as the first in 2025.
The August inflation data overlaps with President Trump’s latest round of tariffs on major U.S. trading partners. But while the direct impact is up for debate, beef’s surge suggests tariffs may already be filtering into consumer prices.
In June 2025, foreign official institutions drove a $80 billion net inflow into U.S. Treasuries, with the U.K. recording the largest one-month increase among major holders.