Happy New Year 2025

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  • 4 Nations Face-Off final: Tickets prices experience spike before US vs Canada

    4 Nations Face-Off final: Tickets prices experience spike before US vs Canada

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    Team USA and Canada will meet on the ice once again when the puck drops at the 4 Nations Face-Off final on Thursday night in Boston. Only four days have passed since the Americans defeated the Canadians in an intense battle.

    The round-robin tournament has brought a considerable amount of attention to hockey, as players and fans proudly represent their respective countries. However, anyone who wants to be part of what is expected to be a raucous atmosphere inside Boston’s TD Garden will have to part ways with some considerable cash to secure a last-minute ticket. 

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    A general view of center ice before the 4 Nations Face-Off between Team Canada and Team Finland at TD Garden on February 17, 2025 in Boston, Massachusetts. (Brian Babineau/4NFO/World Cup of Hockey via Getty Images / Getty Images)

    As of late Thursday afternoon, the lowest-priced ticket on ticket marketplace Gametime was listed at $720. The price does not include taxes and ticket fees. Premium seating near the ice rink exceeded $5,000 prior to taxes and fees.

    While Canada will seek revenge in the final, all eyes will also be on the pregame festivities. Some fans in Montreal began booing as the “The Star-Spangled Banner” played before games. Shortly after the game actually started, three fights broke out over a nine-second span.

    ISLANDERS PARTNER WITH AI COMPANY TO IMPROVE FAN EXPERIENCE: ‘POTENTIAL TO BE INDUSTRY-CHANGING’

    The fans’ boos appeared to stem from their disapproval of President Trump’s comments on Canada potentially becoming the 51st state, in addition to the discontent over tariff threats. 

    Team USA after a game against Sweden

    Team USA reacts to their 2-1 loss to Team Sweden in the 4 Nations Face-Off game at TD Garden on February 17, 2025 in Boston, Massachusetts.  (Maddie Meyer/Getty Images / Getty Images)

    Once the tournament shifted to the U.S., some fans inside Boston’s TD Garden booed, “O Canada.” Trump wished the American hockey team good luck during a call with the team on Thursday before the high-stakes contest.

    “It was so awesome to get his support,” Team USA center J.T. Miller said. “It’s a pretty big deal for him to take time out of his schedule to talk to us for five minutes. It’s just another one of those things where we’re kind of pinching ourselves this tournament.”

    USA vs Sweden

    Team USA forward J.T. Miller (10) screens Team Sweden goalie Samuel Ersson (30) during the first period in a 4 Nations Face-Off ice hockey game at TD Garden. (Bob DeChiara-Imagn Images / IMAGN)

    During an appearance on “America’s Newsroom” on Monday, Bill Guerin, general manager of the U.S. men’s team, said he would welcome Trump to watch the final in person. However, Trump is not expected to attend the sporting event due to his scheduled appearance at the Republican Governors Association Meeting in Washington, D.C.

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    “We would love it if President Trump was in attendance,” Guerin said. “We have a room full of proud American players and coaches and staff. Listen, we’re just trying to represent our country the best way we can.”

    The 4 Nations Face-Off final gets underway at 8 p.m. ET.

  • White House economist gives plan to control avian flu, lower egg prices

    White House economist gives plan to control avian flu, lower egg prices

    Vice president of Eggs Unlimited Brian Moscogiuri explains why egg prices will continue to soar as the bird flu outbreak slows production. 

    The White House is working toward a plan to control the avian flu, which will help lower egg prices that have skyrocketed due to inflation and how the Biden administration “killed all the chickens” to contain the spread of the disease, National Economic Council Director Kevin Hassett said Sunday.

    Hassett appeared on CBS’ “Face the Nation,” where he said that he and Agriculture Secretary Brooke Rollins are “working with all the best people in government, including academics around the country and around the world” to have a plan ready for President Donald Trump next week regarding the disease.

    “The Biden plan was to just, you know, kill chickens, and they spent billions of dollars just randomly killing chickens within a perimeter where they found a sick chicken,” he said.

    Hassett said the plan being worked on in the Trump administration is to “have better ways with biosecurity and medication and so on, to make sure that the perimeter doesn’t have to kill the chickens.”

    EGG FARMERS ARE FACING THE ‘WORST BIRD FLU OUTBREAK’ IN ‘HISTORY,’ INDUSTRY LEADERS FEAR

    The White House is working toward a plan to control the avian flu, National Economic Council Director Kevin Hassett said. (Reuters/Dado Ruvic, File / Reuters Photos)

    “So having a smart perimeter is what we’re working on, and we’re finalizing the ideas about how to do that with the best scientists in government,” Hassett said. “And that’s the kind of thing that should have happened a year ago, and if it had, then egg prices would be, you know, a lot better than they are now.”

    Hassett also addressed the “very large” inflation problem, which he attributed to former President Joe Biden.

    Kevin Hassett

    White House Council of Economic Advisers chairman Kevin Hassett speaks to the media during a press briefing at the White House on Feb. 22, 2018, in Washington, D.C.  (Mark Wilson/Getty Images / Getty Images)

    “We saw the consumer price index come out, and we found out that the stagflation that was created by the policies of President Biden was way worse than we thought,” Hassett said. “Over the last three months, across all goods, including eggs, the average inflation rate was 4.6%, way above target, and an acceleration at the end of the Biden term.”

    FIXING AMERICA’S CHICKEN AND EGG CRISIS

    Average egg prices have risen 15% since January and are up 53% year-over-year, according to the latest consumer price index, released Wednesday. The average price of a dozen Large Grade A eggs is nearing $5.00, as tracked by the Federal Reserve Bank of St. Louis. 

    USDA Secretary Brooke Rollins discusses how she is preparing to reform the agency and how she and Robert F. Kennedy Jr. will tackle the egg crisis on ‘Kudlow.’

    The White House has previously said the Biden administration contributed to the egg supply shortage by directing the killing of over 100 million chickens.

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    Sources tell FOX Business the culling of infected flocks is current U.S. protocol, but more research and development is needed to control and even prevent outbreaks, such as vaccinating birds. 

    Fox Business’ Suzanne O’Halloran contributed to this report.

  • Egg customers crying fowl over empty shelves, high prices can now rent their own chickens

    Egg customers crying fowl over empty shelves, high prices can now rent their own chickens

    USDA Secretary Brooke Rollins discusses how she is preparing to reform the agency and how she and Robert F. Kennedy Jr. will tackle the egg crisis on ‘Kudlow.’

    As customers face empty shelves and rapidly rising egg prices at the supermarket due to the avian flu and a lower national supply, breakfast lovers have another option – their own backyard. 

    Founded 12 years ago, Rent the Chicken provides customers with two egg-laying hens, a portable chicken coop, up to 200 pounds of feed, food and water dish and a book on taking care of chickens. 

    “Within two days of the arrival, your chickens will lay eggs ready to use!” the company promises, adding that the homegrown eggs have one-third the cholesterol, one-fourth of the saturated fat and two times more omega three fatty acids that store-bought eggs.

    The company adds, “Your Rent The Chickens should lay about a dozen to two dozen eggs per week depending on your Rental Package.  You will know exactly what your chickens eat!”

    NEW YORK RESTAURANT OWNERS SLAMMED BY SURGING EGG PRICES

    As customers face empty shelves and rapidly rising egg prices at the supermarket due to the avian flu and a lower national supply, breakfast lovers have another option – their own backyard.  (Tim Graham/Getty Images / Getty Images)

    Customers can schedule a date on the website or the phone and the company will bring out the chickens, which are already laying eggs, as well as the supplies. 

    The chickens are also available for adoption if the customer realizes they want to keep them at the end of the rental period, the company added. 

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    Rent the Chicken co-founder Jenn Tompkins told ABC News that their phone is “ringing off the hook” as egg prices go up. 

    “Our online inquiries are filling up very quickly as well,” Tompkins said. “We will run out of hens available for rent. If anyone is interested, please make sure to put their reservation in sooner than later.”

    She said that the chickens cost around $500 to rent for about six months. 

    EGG SHORTAGES FORCE SOME GROCERY STORES TO IMPOSE LIMITS

    empty egg shelf

    More and more stores are seeing empty shelving because of dwindling egg supplies.  (Getty Images)

    While that averages out to about $20 a week for eggs, Tompkins said the chickens provide food assurance amid scarcity. 

    “We are not coming against the high price of eggs,” she explained to USA Today. “We are solving a problem of food insecurity; of not having eggs on the shelf. People can have eggs in their backyard.” 

    Eggs Unlimited Vice President Brian Moscogiuri told “Fox & Friends” on Thursday that the country is going through “the worst bird flu outbreak that we’ve had in the last 10 years since 2015, potentially the worst bird flu outbreak that we’ve ever had in the history of this country.” 

    In the last year, egg prices have risen 53% since January 2024, and they’re already up 15% since January of this year. 

    In the last three years, 153 million cases of bird flu have been found in poultry. 

    “We’ve lost 120 million birds since the beginning of 2022. In the last few months alone, since the middle of October, we’ve lost 45 million egg-laying hens,” he added. “We’ve lost a significant amount of production, more than 13%. So we’re just dealing with supply shortages. And it’s just a disaster right now because this virus is in three of the top egg-laying states in the country. It doesn’t seem like it’s stopping anytime soon.”

    eggs in a carton

    In the last year, egg prices have risen 53% since January 2024, and they’re already up 15% since January of this year.  (Celal Gunes /Anadolu via Getty Images / Getty Images)

    Joe Defrancesco, a Connecticut farmer who started renting his chickens out five years ago, told WVIT-TV, “It’s really a learning experience. Yes you get an egg per chicken per day and it’s a great thing knowing you have eggs right in your backyard and you’re guaranteed.”

    Tompkins told Axios that the birds also have an added benefit for renters. 

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    “The chickens provide a level of therapy that people didn’t know that they needed,” she said.

  • Jon Taffer schools Democrat leader after blaming Trump for rising prices

    Jon Taffer schools Democrat leader after blaming Trump for rising prices

    ‘Bar Rescue’ host Jon Taffer joins the ‘Big Money Show’ panel as they discuss the impact of inflation on multiple industries, Sen. Chuck Schumer’s comments and the ‘Make America Healthy Again’ movement as RFK Jr. is confirmed as the HHS Secretary.

    The pressure is mounting on President Donald Trump to deliver on his promise of lower prices, but some business leaders argue that stability is just as critical as affordability.

    “Donald Trump has not kept his promise that on Day One, prices will start going down,” Senate Minority Leader Chuck Schumer, D-N.Y., said on Capitol Hill. 

    “Prices went up 3%. The price of groceries went up. The price of buying a car went up.”

    While rising costs have fueled frustration, entrepreneur and “Bar Rescue” host Jon Taffer warns that unpredictable price swings can be just as damaging as high costs.

    TRUMP SIGNS ‘RECIPROCAL’ TARIFF PLAN FOR COUNTRIES THAT TAX US GOODS

    “We can’t survive when the prices are going up and down,” Taffer said on “The Big Money Show” Thursday. “You can’t run a business that way because you can’t boomerang your customers in that fashion.”

    Taffer argues that businesses can adapt to higher costs, as long as those costs are stable. 

    “If stability is at [the] current level, so be it. We can build our business models around [the] current level. What we can’t build a business model around is a lack of stability. That’s what’s killing us all,” he stressed.

    FOX Business’ Lydia Hu reports on the surge in the egg prices and the limited supply due to a bird flu outbreak.

    FIXING AMERICA’S CHICKEN AND EGG CRISIS

    The cost of everyday essentials like eggs, coffee, vegetables, and milk has soared in recent months, putting additional strain on restaurants and small businesses.

    “Restaurants can’t spend more than 33% of their revenues on food costs,” Taffer explained. “That means it’s a $3 price increase for every $1 cost increase. So, if my burger goes up $3 in price, to me, I have to charge you $9 more for that burger. That creates a resistance at the customer level.”

    Rising labor, insurance and energy costs have also made it increasingly difficult for businesses to keep prices reasonable. In response, President Trump has laid out a multistep plan to lower costs, including tax cuts, reduced government spending, and increased oil production to bring down energy prices.

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    Taffer acknowledges the importance of lowering costs but stresses that any changes must be sustainable. 

    “Sustainability and predictability I think is the most important things that Trump needs to bring to the marketplace,” he said.

    For businesses, the bottom line isn’t just about lower prices, it’s about knowing what to expect, Taffer concluded.

    Carlo’s Bakery owner Buddy Valastro opens up about the soaring price of eggs on ‘The Claman Countdown.’

  • Amazon Valentine’s Day Sale 2025: Check List of Items Available at Discounted Prices To Gift to Your Valentine on February 14

    Amazon Valentine’s Day Sale 2025: Check List of Items Available at Discounted Prices To Gift to Your Valentine on February 14

    Mumbai, February 13: Amazon Valentine’s Day 2025 offers various electronic gadgets or fashion products to people looking to buy gifts for their loved ones. The e-commerce website offers products ranging from audio products to wearables, jewellery, apparel, accessories, and more. On Valentine’s Day 2025, interested customers can explore these products for gifting purposes.

    Amazon Valentine’s Day offers started a week ago, and the company started offering some of its popular products on February 14 to celebrate the day of love. Depending on the choice of your male friend or female friend, you can choose the model and gift them. Those looking to offer fashionable products, including clothing, fashion jewellery, smartwatches, and handbags, can also check out the following lists. Flipkart Valentine’s Day Sale 2025: List of Items Available at Discounted Prices That You Can Gift to Your Valentine on February 14.

    Amazon Valentine’s Day Offers; Check List of Items

    • Audio Products: Amazon offers a range of audio products, including portable speakers and wired earphones from top brands like Sony, JBL, boAt, and more. Customers can also find portable speakers for mini parties, home theatre systems, and in-ear headphones with heart rate monitoring. And the best part? These items are available at discounts of up to 50%, making them desirable and affordable. Clothing for Females: Amazon’s Valentine’s Day 2025 offer includes a variety of dresses that customers can buy for their female partners. These include jeans, dresses, kurtas, couple tops and tees, jackets, and modern clothes. Amazon offers these clothes at a nearly 80% discount. 

    • Clothing for Male: During the Valentine’s Day 2025 sale on Amazon, women can search for products like T-shirts, shirts, pants, jackets, suits and blazers, jeans, and other clothes for their male partners. Amazon claims to offer up to 80% and more discounts on these products.

    • Grooming Kit and Accessories for Females: Males can make their female friends or partners happy by gifting makeup kits, fashion jewellery, sandals, cosmetics, handbags, and other products. Amazon also offers these products at massive discounts ranging from 50% to 80% and more. 

    • Grooming and Accessories for Males: Females can gift grooming items, including trimmers and cosmetics, to their male friend or partner. Moreover, they can also consider gifting bracelets, shoes, bags, wallets, belts, and other items to make them happy this Valentine’s Day with 50% to 80% and more discount offers.

    • Smartwatches or Wrist Watches: Depending on the girl or boy’s preference, they can purchase a smartwatch or an analogue wristwatch. Amazon also offers these items at discounts of 40% to 80% and above. Hug Day 2025 Messages and Quotes: Netizens Share Wishes, Greetings, Images and HD Wallpapers To Celebrate Day 6 of Valentine Week.

    On this Valentine’s Day 2025, both males and females will look for a memorable item until next February 14. For this, they can explore various other options, such as wireless earbuds, sunglasses, hairdressers, and similar products.

    (The above story first appeared on LatestLY on Feb 13, 2025 04:22 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).

  • OnePlus Red Rush Days Sale: OnePlus 13R, OnePlus 13, OnePlus Nord CE 4, OnePlus Nord 4 and Other Products Available at Valentine’s Day 2025 Discount; Check Prices

    OnePlus Red Rush Days Sale: OnePlus 13R, OnePlus 13, OnePlus Nord CE 4, OnePlus Nord 4 and Other Products Available at Valentine’s Day 2025 Discount; Check Prices

    OnePlus has announced its new Valentine’s Day 2025 sale event, “OnePlus Red Rush Days, ” offering exclusive discounts on selected products. During Red Rush Days, customers can buy smartphones at a much lower cost than the official sale price. OnePlus Red Rush Days offers the OnePlus 13R with an INR 3,000 bank discount, the OnePlus 13 with an INR 5,000 discount, and the OnePlus Nord CE 4 with an INR 2,000 discount. The Chinese company also announced INR 4,000, INR 1,000, INR 2,000 and INR 3000 on the OnePlus Nord 4, OnePlus Nord CE 4 Lite, OnePlus Pad 2 and OnePlus Buds Pro 3, respectively. Flipkart Valentine’s Day Sale 2025: List of Items Available at Discounted Prices That You Can Gift to Your Valentine on February 14.

    OnePlus Red Rush, Valentine’s Day 2025 Sale Announced

    (SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter (X), Instagram and Youtube. The above post is embeded directly from the user’s social media account and LatestLY Staff may not have modified or edited the content body. The views and facts appearing in the social media post do not reflect the opinions of LatestLY, also LatestLY does not assume any responsibility or liability for the same.)

  • Flipkart Valentine’s Day Sale 2025: List of Items Available at Discounted Prices That You Can Gift to Your Valentine on February 14

    Flipkart Valentine’s Day Sale 2025: List of Items Available at Discounted Prices That You Can Gift to Your Valentine on February 14

    Mumbai, February 12: Flipkart Valentine’s Day Sale 2025 began in India on February 7, 2025, and will continue till February 14, 2025. During this special sale event, interested customers can explore a wide range of products for gifting purposes to their loved ones. Valentine’s Day or Saint Valentine’s Day is celebrated by people across the world as a day for sharing love and gifts with boys and girls.

    Flipkart Valentine’s Day Sale 2025 offers smart watches, wrist-watches, trimmers, shirts and t-shirts, women’s dresses, bags, wallets and many other products at up to 90% discount. During Valentine’s Day, these gifts are most common among the male and female. If you are planning to gift someone and make the day memorable, check out the list of items available on the Flipkart Sale for this Valentine’s Day 2025. Hug Day 2025 Messages and Quotes: Netizens Share Wishes, Greetings, Images and HD Wallpapers To Celebrate Day 6 of Valentine Week.

    Flipkart Valentine’s Day Sale 2025 Gifts, Items Available at Discounted Rate

    • Smart Watches: Gifting someone a smartwatch can be a good idea as it can be ideal for both men and women. Flipkart has listed popular smartwatches from brands including Fire-Boltt, Fastrack, BeatXP, and others at up to a 92% discount.

    • Grooming Kits, Trimmers: During Flipkart Valentine’s Day Sale 2025, females can gift trimmers or grooming to males, which helps them look better for different occasions. The e-commerce website lists products with up to 87% discounts and from popular brands with unique designs and functionality.

    • Bags, Wallets & Belts: Women crave a new bag with standout designs and storage options. It can be a great gift for them this Valentine’s Day. On the other hand, men can be delighted to get gifts such as wallets and belts that help them store important things and stay formal. Bags are available at up to 85% discount on Flipkart. 

    • Dresses for Girls, Shirts for Boys: Males (boyfriends) can gift dresses to their female friends (girlfriends). There are various options available on Flipkart for dresses with unique designs. On the other hand, boys can be elated to receive casual shirts or t-shirts as a gift on  Valentine’s Day 2025. Dresses are available at an 85% discount, whereas casual shirts and t-shirts are above 80% discount offers. Jethalal Memes For Valentine’s Day 2025: These TMKOC Funny Meme Templates, Hilarious Jokes, Trending Instagram Reels and Images Are Relatable AF For Singles. 

    Beyond these products, both men and women can find discounts on other featured items such as lipsticks, kurtas, glasses, jewellery, shoes, and more in Flipkart’s Valentine’s Day Sale ahead of February 14, 2025.

    (The above story first appeared on LatestLY on Feb 12, 2025 12:47 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).

  • Open AI CEO Sam Altman predicts artificial intelligence will lower prices

    Open AI CEO Sam Altman predicts artificial intelligence will lower prices

    OpenAI CEO Sam Altman and Anduril Industries co-founder and CEO Brian Schimpf discuss the future of A.I. and the ethical use of technology on ‘Making Money.’

    OpenAI CEO Sam Altman predicts that artificial general intelligence will lead to lower costs for many goods, but has also warned that AI could be leveraged by authoritarian governments aiming to control people.

    OpenAI is the company behind the popular AI model ChatGPT.

    Altman explained in a blog post that AGI generally refers to “a system that can tackle increasingly complex problems, at human level, in many fields.” He noted that systems “are coming into view” which begin “to point to AGI.”

    OPENAI ANNOUNCES US NATIONAL LABORATORIES PARTNERSHIP, PLANS TO SUPPORT WORK ON NUCLEAR SECURITY AND MORE

    Sam Altman, co-founder and CEO of OpenAI, speaks during a panel discussion titled “The Age of AI” at the Technical University of Berlin on Feb. 7, 2025, in Berlin, Germany. (Sean Gallup/Getty Images)

    “Although some industries will change very little, scientific progress will likely be much faster than it is today; this impact of AGI may surpass everything else,” he noted.

    Altman suggested that while prices for many goods will decrease, some things, such as land, could see significant price increases.

    “The price of many goods will eventually fall dramatically (right now, the cost of intelligence and the cost of energy constrain a lot of things), and the price of luxury goods and a few inherently limited resources like land may rise even more dramatically,” he wrote.

    While Altman predicted that AI will permeate society, he also warned that the power of AI could be harnessed by authoritarian governments.

    OPENAI’S CHATGPT BRIEFLY GOES DOWN FOR USERS ACROSS THE GLOBE

    OpenAI CFO Sarah Friar discusses the company’s partnership with SoftBank, consumers embracing artificial intelligence, OpenAI’s ‘deep research’ tool and DeepSeek’s impact in the space.

    “AI will seep into all areas of the economy and society; we will expect everything to be smart. Many of us expect to need to give people more control over the technology than we have historically, including open-sourcing more, and accept that there is a balance between safety and individual empowerment that will require trade-offs,” he wrote.

    “While we never want to be reckless and there will likely be some major decisions and limitations related to AGI safety that will be unpopular, directionally, as we get closer to achieving AGI, we believe that trending more towards individual empowerment is important; the other likely path we can see is AI being used by authoritarian governments to control their population through mass surveillance and loss of autonomy.”

    It is important to make certain that “the benefits of AGI are broadly distributed,” Altman asserted.

    MICROSOFT VICE CHAIR AND PRESIDENT SAYS AI IS THE ‘MOST IMPORTANT’ EXPORT OF AMERICAN SERVICES

     Arm CEO Rene Haas discusses Big Tech pledging billions for AI on ‘The Claman Countdown.’

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    He suggested that “the balance of power between capital and labor could easily get messed up, and this may require early intervention. We are open to strange-sounding ideas like giving some ‘compute budget’ to enable everyone on Earth to use a lot of AI, but we can also see a lot of ways where just relentlessly driving the cost of intelligence as low as possible has the desired effect.”

  • Brazil’s president tells country not to buy expensive groceries as food prices rise

    Brazil’s president tells country not to buy expensive groceries as food prices rise

    Brazil’s leftist president recently told the country’s citizens not to purchase expensive grocery items in an effort to combat soaring food prices. 

    In a video being shared online, Brazilian President Luiz Inácio Lula da Silva urged Brazilians to be frugal when grocery shopping. 

    “If you go to the supermarket in Salvador and you suspect that a certain product is expensive, don’t buy it,” he said. “Look, if everyone thought like that and didn’t buy things they thought were expensive, whoever is selling is going to have to lower the price in order to sell it.

    HOW BRAZILIAN POLICE SAY BOLSONARO PLOTTED A COUP TO STAY IN OFFICE

    Brazilian President Luiz Inácio Lula da Silva speaks during the national technology conference in Brasilia, Brazil, July 30 2024.  (Reuters/Adriano Machado//File Photo)

    “Because if they don’t, it’s going to spoil.”

    On Thursday, da Silva said he was worried about rising food prices but projected the increases would slow and voiced an optimistic tone about the economy.

    “The Brazilian economy is living its best moment,” Lula said during an interview with radio stations, Reuters reported. 

    The leftist leader noted that Brazil’s real was still at a low level against the U.S. dollar but sees the rate “adjusting,” according to Reuters. 

    BERING AIR PLANE VANISHES IN ALASKA WHILE CARRYING 10 PEOPLE 

    A Brazil market

    A salesman at a vegetable stand at a supply center in Brasilia, Brazil, May 9, 2023.  (Reuters)

    In January, Brazilian Finance Minister Fernando Haddad said he expected food prices to decline this year due to strong agricultural production.

    Prices tend to stay at high levels until food production “corrects this price distortion to an adequate level,” he told a local news outlet. 

    Haddad added that officials predict Brazil’s economy will grow 2.5% in 2025, slowing from an expected 3.5% last year.

    Luiz Inacio Lula da Silva

    Brazilian President Luiz Inácio Lula da Silva attends a ministerial meeting on plans to support Rio Grande do Sul state, which was affected by floods, at the presidential palace in Brasilia, Brazil, May 13, 2024. (AP Photo/Eraldo Peres)

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    “I believe we have room to grow 2.5% by reducing inflation,” he told RedeTV, according to Reuters. 

  • Lumber, construction material prices could rise due to tariffs

    Lumber, construction material prices could rise due to tariffs

    The Big Money Show panelists discuss the fentanyl crisis and President Donald Trumps tariff plans as China vows to retaliate.

    President Donald Trump’s plan to impose a 25% tariff on goods from Canada and Mexico triggered warnings from several trade groups that such a move would drive up the cost of housing, given that a significant amount of key building materials are sourced from our neighboring nations.

    Although the president agreed to hit pause on those tariffs for a month after both countries offered concessions to help secure the U.S. boarder, the threat of a surge in prices is looming over several industries.

    Home builders and materials suppliers are warning that tariffs on goods from Canada, China and Mexico will drive up construction costs and worsen the housing affordability crisis. (Photographer: Jordan Vonderhaar/Bloomberg via Getty Images / Getty Images)

    Following Trump signing the executive order, the National Home Builders Association urged the president to reconsider, with NHBA Chairman Carl Harris noting that “More than 70% of the imports of two essential materials that home builders rely on — softwood lumber and gypsum (used for drywall) — come from Canada and Mexico, respectively.”

    Days later, the trade group warned lumber costs would spike by 40% – even higher than the 25%, – if the tariff on softwood lumber products from Canada is imposed, because the tariffs would be on top of an effective 14.5 duty rate already in place.

    HOME AFFORDABILITY CRISIS TAKING A TOLL ON AMERICA’S YOUNG ADULTS

    CFRA Analyst Ana Garcia wrote in a note this week that U.S. logging has declined in recent years, and if the tariffs on Canada go through, American logging might not be able to fill the gap.

    Home Depot Store

    A major of softwood lumber used in the U.S. is imported from Canada ((Photo by Justin Sullivan/Getty Images) / Getty Images)

    “Rising framing lumber costs, should tariffs roll out on March 4, 2025, will likely reduce housing starts, worsen affordability challenges for buyers, and increase margin headwinds for homebuilders,” Garcia wrote.

    HOW EXTREME WEATHER, HIGH HOME PRICES COULD AFFECT THE 2025 HOUSING MARKET

    National Lumber and Building Material Dealers Association President and CEO Jonathan Paine warned Wednesday that going through with the planned tariffs on Canada and Mexico would “would be potentially devastating to the American economy and the housing market.”

    “The United States already has an affordable housing crisis and we as a nation must be focused on advocating for measures that reduce construction costs and eliminate regulatory barriers, not policy that discourages or creates new challenges for developing affordable housing,” he said in a statement.

    Ontario Premier Doug Ford says he hopes ‘calmer heads prevail’ in the tariff debate on ‘The Claman Countdown.’

    Meanwhile, the construction industry is also concerned about the additional 10% tariff Trump place on imports from China this week.

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    Jim Tobin, CEO of NAHB says that despite the 11th hour reprieve on the tariffs with the 30-day delay, there is still a lot of uncertainty, and warns China, Mexico, and Canada are three of the largest construction suppliers to the U.S.

    “There is not a room in your home that doesn’t have something from one of those three countries, including doorknobs, light fixtures, framing lumber, and sheathing,” Tobin told FOX Business.