The Cynic: November 15

BUSINESS
This Week’s Business News

Trump Cuts Food Tariffs to Tame Grocery Prices

Turns out steak inflation finally hit the “do something” button. Trump rolled back tariffs on more than 200 food items — beef, coffee, bananas, orange juice, the whole supermarket safari — after steady price increases kept annoying voters. The cuts are tied to new trade deals with several Latin American countries.

The White House even teased a $2,000 ‘tariff dividend’ next year. The plan would send money to lower- and middle-income Americans, funded by the very tariffs that made groceries more expensive in the first place. Food-at-home prices were still up 2.7% year-over-year.

Critics say the administration is basically undoing its own price hikes. Democrats argue the earlier tariffs helped fuel the surge. Some industries didn’t get relief — alcohol got left out, ensuring wine moms remain a powerful political force.

Tesla Tells Suppliers to Cut China-Made Parts

Elon basically handed suppliers a new rule: no China-made parts in U.S. cars. Tesla is pushing vendors to shift components out of China within one to two years to stay ahead of tariff and trade-war whiplash.

The company’s been slowly de-China-fying its supply chain already. With tariffs shifting and export controls tightening, Tesla wants more North American sourcing, especially as China-made Tesla sales dipped in October.

And it’s not just a Tesla problem — it’s the whole industry. GM reportedly gave suppliers similar nudges. Auto executives now spend as much time decoding geopolitics as they do designing cars.

U.S.–Swiss Trade Deal Cuts Tariffs to 15%

Trump just chopped Swiss tariffs from 39% to 15% in exchange for a giant investment promise. Switzerland agreed to steer $200 billion into U.S. manufacturing through 2028 across pharma, aerospace, and gold-related industries.

The U.S. also capped drug tariffs at 15% to avoid future spikes. Roche, Novartis and others get more predictable access, while Switzerland opened duty-free quotas for U.S. beef, poultry and other goods.

Swiss officials are thrilled… and also slightly stressed. The investment push helps with U.S. relations but pulls capital out of their own economy. Still, compared to a 39% tariff, 15% is practically a Swiss massage.

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REAL ESTATE
This Week’s Real Estate News

NYC CEOs Say “Relax, No One’s Fleeing the City”

Despite the memes, wealthy New Yorkers aren’t stampeding to Florida. CNBC interviewed two major real estate CEOs who say clients are still buying, leasing and investing even after Zohran Mamdani’s mayoral win.

Investors care more about returns than Twitter drama. While they’re watching proposed rent freezes, taxes and affordability measures, they’re not heading for the exits or redirecting capital out of NYC.

It’s classic New York: everyone yells, then everyone does business. The industry is shifting from panic to negotiation, waiting to see how Mamdani’s policies actually roll out before making big moves.

D.R. Horton Hires AI to Read Zoning Laws (So Humans Don’t Have To)

America’s biggest homebuilder just outsourced zoning paperwork to an AI. D.R. Horton is using Prophetic’s platform to digest zoning codes across 25 states, cutting site-analysis time from hours to seconds.

The stakes are huge — the U.S. is short about 4 million homes. Horton says the biggest bottleneck is figuring out which parcels are buildable under local rules, not actually building the houses.

Whoever clicks fastest gets the land. Prophetic thinks their speed advantage can help builders lock up parcels before rivals even open Excel — assuming local politics don’t slow everything down again.

U.S. Foreclosures Jump 20% — Not 2008, But Not Cute Either

Foreclosures rose 19% year-over-year in October — a steady drip, not a crash. About 36,700 properties saw foreclosure filings, marking the eighth straight month of annual increases.

Every stage of the process is inching up. Starts were up 6% month-over-month, and completed foreclosures jumped 32% year-over-year. Florida, South Carolina and Illinois led the pack.

But big picture? It’s stress, not meltdown. Less than 0.5% of mortgages are in foreclosure, far below Great Recession levels. Still, rising FHA delinquencies and insurance costs could make 2025 a bumpier ride.

FUN
Riddle Me This

I never buy a house, yet I sell them all the time.
When I’m low, lines form; when I’m high, “maybe next time.”
I price tomorrow with numbers you pay today.
What am I?

Reply to this email with the answer for a chance to win a surprise

ADVICE
This Week’s Business Advice

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