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July 9, 2025

Welcome to The Lighthouse, the weekly email newsletter of the Independent Institute covering politics, economics, current events, and everything in between.

Dear Readers,

After a pause on the “Liberation Day” rates, Donald Trump has recently announced that the United States will impose a 25% tariff on imports from Japan and South Korea, starting August 1, 2025.

The announcement, made via open letters posted to his Truth Social platform, marks a significant escalation in his administration’s ongoing trade war strategy. The letters to the respective countries' chief executives state that the new tariff rates will be added to any preexisting sector-specific tariffs.

While the administration claims these tariffs are necessary to correct trade imbalances and protect domestic industries, the economic evidence overwhelmingly suggests otherwise. As highlighted in Scott Burns and Caleb Fuller’s series concluding piece, “Tariff Mythbusters: A Recap,” tariffs are a blunt, ineffective and counterproductive tool.

This week’s articles cover several topics, including California's gas prices, how city bonding regulations are making homeownership increasingly difficult, and the dangers of inconsistency in immigration policy and President Trump’s foreign policy.

And of course, another key focus is restoring free speech and meritocracy on college campuses, discussed in Scott Atlas’ latest podcast episode.

Enjoy!

Jonathan Hofer
Managing Editor

Top picks this week
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** Tariff Mythbusters: A Recap ([link removed])
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** Debunking the New Mercantilists, Part 8 ([link removed])
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** by Scott A. Burns and Caleb S. Fuller
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Here is the eighth and final part in the tariff mythbusting masterclass.
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** Why California Gas Prices Are So High in 2025 — And Still Rising ([link removed])
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** The Golden State continues to punish residents at the pump ([link removed])
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** by Kristian Fors and Sean Brenot
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California’s fuel rules are driving up pump prices and disproportionately punishing the poor. Is this “progress?”
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** The Shifting Goal Posts of Immigration Will Hurt Americans ([link removed])
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** by Denny Han
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America’s shifting immigration policies will undercut innovation and jeopardize the economy, one self-inflicted wound at a time.
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** How City Bonding Requirements Increase Home Costs ([link removed])
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** A look into the lengthy and convoluted process of releasing bonds on privately-developed streets. ([link removed])
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** by Scott Beyer
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City bonding rules for new developments are driving up home prices by delaying infrastructure sign-offs and inflating construction costs.
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** President Trump’s Foreign Policy Should Surprise No One ([link removed])
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** The president’s positions on Iran and Israel have not changed in ten years. ([link removed])
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** by Brady Leonard
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Trump’s latest foreign policy decisions are no surprise to those who’ve followed his stance over the past decade.
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** VIDEO
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** Censorship, Threats, and Chaos on America’s Campuses | Ep. 51 ([link removed])
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Scott welcomes Robert (Bobby) Robbins, President Emeritus of the University of Arizona, to the show to discuss many of the issues facing college campuses today.
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** UPCOMING EVENT
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** What If Everything You Know about the 1619 Project Is Wrong? ([link removed])
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Join us for a reception and conversation on Thursday, July 17, with Research Fellow Jeffrey Rogeres Hummel and Senior Fellow and David J. Theroux Chair Phillip W. Magness on his explosive new book, The 1619 Project Myth!
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