Trump also recently announced tariff rates with Indonesia (19 percent) and Japan (15 percent, which also applies to auto imports and is lower than the 25 percent auto import rates he announced in April that apply to other countries). But, truth be told, the rates you are likely to feel the most are those imposed on major trading partners China (30 percent), Canada (35 percent), and Mexico (30 percent).

“White House officials say the rates would apply to imports from the two countries that are not covered under a trade deal that Mr. Trump signed during his first term. But the president’s aides have cautioned that a decision on the matter is not final,” reports The New York Times. The president “first targeted Canada and Mexico in February, announcing a 25 percent import tax on all arriving goods, which the president justified by saying the two nations had not sufficiently helped to combat the flow of fentanyl. Facing blowback domestically and abroad, he later paused and modified that arrangement to exempt items that are covered under the U.S.-Mexico-Canada Agreement, or U.S.M.C.A.” So, in other words, certain agricultural products and textiles might be exempted. So either your avocados, tomatoes, and cotton garments will get a lot more expensive, or they won’t; you’ll find out soon. But not today, because they don’t yet know, and can’t commit to a specific framework for how certain goods will be handled.

If you have whiplash, just know that everyone else does too.

Scenes from New York: Meet the “Gen Z New Yorkers selling their parents on Mamdani.” Prominently featured: A 27-year-old woman who was insulted by a guest at her parents’ party in the Hamptons due to her Zohran Mamdani vote, and who happens to be the daughter of an influential Democratic donor.

“I endorse the change in spirit, of my daughter and her friends,” her father told The New York Times. “They have been so disillusioned for so long, by climate change, by gun violence and on and on. If this is the way that someone reacts to a thoughtful person like Caitlin, then I wanted to respond to that by making a donation to someone that she and her friends love.” So, reading between the lines, this is a means of…simply giving his daughter whatever she wants. A thoughtful political back-and-forth between the generations this is not. (I would like a companion piece to this that involves a 60-year-old who has amassed great wealth giving their beneficiary children economics lessons, so that they too can go forth and prosper and build things, but I may be waiting a long time for this type of piece.)