Crypto News: Trump tariffs to drive up home insurance cost

US homeowners already hit hard by the rapid rise of home insurance rates will likely feel even more pain as steep tariffs imposed by President Donald Trump further drive up premiums by making repairs more expensive.

Extreme weather events alone are expected to push up the annual cost of home insurance by 8% nationally this year, according to a new report. Homeowners in some states, including Louisiana and Iowa, may even see increases in the double digits.

Combined with the impact of Trump's tariffs — which will increase the cost of imported building materials — home insurance premiums will likely cut into people's spending elsewhere, Leslie Kaufman reports. Today on CityLab: Tariffs Threaten to Push US Home Insurance Rates Even Higher

— Linda Poon

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What we're reading

Eaton fire shut down this Spanish immersion school's two campuses. But classes are still in session (Los Angeles Times)
'Every day, every single customer': Tariffs hit close to home inside Asian grocers (NPR)
Are e-bikes a godsend or the road to perdition? An Amish community is torn (Wall Street Journal)
Trump's tariffs will flatten the US bicycle industry (Heatmap)
'Everyone is breathing this': how just trying to stay warm is killing thousands a year in the world's coldest capital (Guardian)