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Real-time News
Trump: (Regarding Hassett and the Federal Reserve) White House National Economic Council Director Hassett performed well on television, and I want him to remain in his position. Well wait and see.January 16th - Builder confidence has declined at the start of the year, with affordability issues continuing to put heavy pressure on homebuyers, while builders continue to grapple with rising construction costs. The U.S. NAHB Housing Market Index fell 2 points to 37 in January. NAHB President Buddy Hughes stated, "While the high-end housing market remains relatively robust, affordability is dragging down the mid- and low-end markets. Homebuyers are concerned about high prices and high mortgage rates, especially with the price-to-income ratio making down payments particularly difficult." NAHB Chief Economist Robert Dietz noted, "On the positive side, Freddie Mac data shows that as of January 15th, the average mortgage rate had fallen to 6.06%, the lowest level in three years, nearly 100 basis points lower than the same period last year."On January 16th, we noted that Canada, in an interview with relevant media, stated that it would make positive adjustments to measures related to Chinese electric vehicle exports to Canada. Could you provide more details? A spokesperson for the Department of American and Oceanian Affairs of the Ministry of Commerce stated that China has taken note of Canadas statement. In 2024, Canada imposed a 100% additional tariff on Chinese electric vehicles, significantly impacting Chinas electric vehicle exports to Canada. According to the latest adjustments, Canada will grant China an annual quota of 49,000 electric vehicles, enjoying a 6.1% most-favored-nation tariff within the quota, and the 100% additional tariff will be abolished. The quota will increase annually at a certain rate. China believes this is a positive step in the right direction from Canada and good news for Chinese electric vehicles expanding into the Canadian market. We hope Canada will actively fulfill its relevant commitments and continue to work with China to create a more fair, stable, and non-discriminatory environment for further expanding bilateral electric vehicle trade and investment cooperation through friendly consultations. We look forward to the industries of both countries seizing this opportunity, strengthening cooperation, and achieving mutual benefit and win-win results.The S&P 500 index turned negative.The U.S. NAHB Housing Market Index for January was 37, below the expected 40 and the previous reading of 39.
