Good morning! Today is February 3, 2025, I just had my morning coffee (thank you to the paid subscribers who help fund my coffee addiction), and here is all the news you may have missed from today. Do you like this content?
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Let me know your thoughts on this format! Here is a bullet point list of all the stories I covered today:
USAID employees have been told not to report to work in person as Elon Musk says Donald Trump agreed to shut the agency down.
USAID security officials were placed on leave after denying Musk and his associates access to classified materials.
Tariffs will begin tomorrow, but the stock market is already reacting negatively. Donald Trump is expected to hold talks on tariffs with Canada and Mexico ahead of the tariffs taking effect.
President Jimmy Carter was awarded his fourth Grammy award for best audio book narration.
Donald Trump says that tariffs for the European Union are coming.
Panama becomes the first Latin American nation to pull out of China’s One Belt One Road Agreement.
One other thing, if you want to see a transcript, just click the transcript button and you should be able to read what I say in the video. Here are the goods that will be impacted by tariffs:
Canada
Dairy: Tariffs on Canada will impact its dairy industry and will affect the prices of items like milk, cheese, and butter in the U.S.
Lumber/Building Materials: Canada is one of the largest suppliers of softwood lumber to the United States, and tariffs on Canada will raise the cost of construction and housing. This means it will cost more to do renovations.
Cars and Car Parts: The U.S. and Canada have extensive trade in automotive goods, and tariffs can impact both finished vehicles and parts.
Energy/Gas: Canada provides a large amount of oil and natural gas. Tariffs on energy-related products could affect gas prices.
Fish and Seafood: Tariffs could affect imports of fish and seafood products from Canada, which means that you will pay more at the grocery store.
Mexico
Produce: Mexico is one of the largest exporters of produce to the United States. That means the cost of fruits, vegetables, and other agricultural products to the U.S. Specifically, get ready to pay more for avocados and tomatoes.
Cars and Car Parts: Like Canada, Mexico supplies a large amount of vehicles and auto parts to the U.S.
Beer and Tequila: Mexico imports a lot of beer and tequila. A tariff is akin to a Trump tequila tax.
Electronics: Mexico manufactures electronics, including televisions and other consumer electronics.
China
Electronics: A large number of electronics, including smartphones, laptops, and televisions will see their prices raised.
Furniture: China currently exports a significant amount furniture and furniture parts to the United States.
Clothing and Textiles: A large portion of the apparel and textile products in the U.S. are imported from China.
Toys: Tariffs will lead to higher prices for toys in America.
See you at 5:30 for my evening news update!
Aaron
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