US News
LAST UPDATE: May 18, 2025
White House Says It Gets More Than $200b in Deals With UAE
DJ
The White House announced over $200 billion in new commercial deals with the UAE, including significant investments in aviation and AI sectors.
Insight
These deals signify deepening economic ties between the US and UAE, potentially influencing geopolitical dynamics and trade relationships in the Middle East.
Trump turns to US Supreme Court to pursue mass federal layoffs
Reuters
President Trump petitioned the Supreme Court to overturn a federal judge’s order blocking large-scale federal layoffs, part of his government downsizing initiative.
Insight
The administration’s push for mass layoffs reflects a broader agenda to reduce federal government size, raising legal and political debates over executive authority and labor rights.
US consumer sentiment deteriorates further in May
Reuters
US consumer sentiment fell to 50.8 in May, with rising inflation expectations and concerns over trade policies contributing to the decline.
Insight
The continued drop in consumer confidence indicates growing public anxiety over economic conditions, potentially impacting spending and economic growth.
Shoppers Dodge Price Hikes as Companies Absorb Tariffs, For Now
Bloomberg
Companies are absorbing the costs of new tariffs to shield consumers from immediate price hikes, but this strategy may not be sustainable long-term.
Insight
While consumers are currently insulated from tariff-induced price increases, prolonged absorption of costs by companies could lead to reduced profit margins and eventual price adjustments.
Housing Starts Tick Up in April as Tariffs
DJ
U.S. housing starts increased by 1.6% in April to a seasonally adjusted annual rate of 1.36 million units, driven by a surge in multifamily construction. However, single-family starts declined by 2.1%, and building permits fell by 4.7%, indicating ongoing challenges in the housing sector.
Insight
The modest rise in housing starts masks underlying issues such as high mortgage rates, elevated construction costs due to tariffs on materials like lumber and steel, and declining builder sentiment. These factors continue to hinder the single-family housing market, suggesting that the overall housing recovery remains fragile.
