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Trump’s tariffs have pushed the U.S. effective tariff rate to roughly 17 percent — its highest level since the 1930s — according to Yale University’s Budget Lab. https://buff.ly/wPxUFY6

Upper-income Americans are increasingly falling behind on credit card and auto loan payments. https://buff.ly/fCs52Ib

The advance international trade deficit in goods decreased to $86.0 billion in June from $96.4 billion in May as imports decreased more than exports. June 2025: -10.8° % Change May 2025: 12.3° % Change

June 2025 end-of-month inventories were $808.7 billion, up +0.3 percent (+/- 0.2%) from last month. June 2025: +0.3 % Change in Inventories May 2025 (r): +0.3 % Change in Inventories

June end-of-month inventories were $907.7 billion, up 0.2 percent (+/- 0.2 percent)* from last month. June 2025: +0.2* % Change in Inventories May 2025 (r): -0.3 % Change in Inventories

Auto tariffs are stoking mass-termination angst in Canada’s once-proud motor city. Unemployment has surged in Oshawa and now tops 9%, one of the highest rates of any Canadian city. https://www.bloomberg.com/news/features/2025-07-28/canadian-motor-city-reels-from-trump-s-auto-tariffs?cmpid=eveus&utm_medium=email&utm_source=newsletter&utm_term=250728&utm_campaign=eveus