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23rd Jul 2025 08:39USDaily Monitor

  • Recent completed and rumoured trade “deals” mean August 1 looks like less of a tariff cliff-edge. 
  • But these agreements imply little change in the overall average effective tariff rate on US imports. 
  • The weakness in new home sales in June probably is here to stay, weighing further on housing starts. 

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Keywords for: 25 July 2025 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence