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
