Good morning! Today is March 12th and here is your morning news rundown. Apologies for the delay this morning, I was on a red eye flight last night and took a quick power nap this morning. We are going to do a paid subscriber Q&A this evening around 7:30 PM EST, so stay tuned for that! If you want to support my work, click the button below and become a paid subscriber today:
With that, here is the news you missed:
The United States has officially implemented its 25% tariffs on all aluminum and steel imports. The tariffs began at midnight and did not include any exemptions meaning that the tariffs are across the board on all imports and on all nations.
The European Union pushed back against the "unjustified" tariffs on Wednesday by announcing countermeasures targeting up to €26 billion ($28 billion) worth of U.S. exports. These include tariffs on items like boats, bourbon, and motorbikes. Set to take effect in April, the measures are described as "swift and proportionate."
Canada revealed a set of countermeasures on Wednesday morning that will go into effect on Thursday. These include a 25% tariff on $29.8 billion CAD ($20.1 billion USD) worth of U.S. imports, including steel and aluminum products.
U.S. mortgage rates decline for the sixth consecutive week, reaching their lowest level since December — Bloomberg.
Senator Jeanne Shaheen (D-N.H.) announces she will not run for reelection in 2026 — video statement.
Since Trump took office in January, U.S. stocks have underperformed compared to global markets.
The nonprofit organization Building America’s Future, backed by President Donald Trump’s senior advisor Elon Musk, has invested $1.6 million in television ads supporting conservative Wisconsin Supreme Court candidate Brad Schimel.
The U.S. Department of Education has announced plans to lay off over 1,300 employees, effectively reducing its workforce by nearly half. This move aligns with President Trump's objective to eventually dismantle the agency, a process that requires congressional approval.
See you this evening.
— Aaron
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