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As the Trump administration heads into a weekend of trade talks with Chinese officials, the President is floating a new tariff rate on Chinese imports: 80%. While it's much lower than the current tariff rate of 145%, it's still far too high for many businesses. We'll get into it. And, a recent legal win for Epic Games could shake up Apple's App Store. Plus, we'll weigh in on mass producing orchids and going cashless during a round of Half Full/Half Empty!Here's everything we talked about today:"DOJ, FTC open inquiry into the concert industry" from The L.A. Times "Fortnite applies to launch on Apple's App Store after Epic Games court win" from CNBC "How Apple Created a Legal Mess When It Skirted Judge's Ruling" from The New York Times "Ahead of China-US talks, Trump says 80% tariff 'seems right'" from Reuters"Revenge RTO: Workers are coming in late, leaving early and stealing snacks as they find small ways to get back at their bosses" from Fortune"Trump Revives Push for Higher Taxes on the Rich" from The New York Times"How the Exotic Orchid Became a Mass-Market Commodity" from The Wall Street Journal "The drawbacks of an increasingly cashless society" from MarketplaceStand up for Marketplace and public media during this critical time. Donate today: https://support.marketplace.org/smart-sn

Following Trump's so-called “Liberation Day” tariffs, the United States has now struck a trade deal (sorta) with the United Kingdom. We'll get into it. Plus, childcare costs a lot – and in some places, more than rent. Then, we'll smile at the unexpected joy of “swole culture.” And what if, instead of sports metaphors, we used makeup lingo at work?Here's everything we talked about today:“Trump unveils United Kingdom trade deal, first since 'reciprocal' tariff pause” by CNBC“U.S., Britain strike first major trade deal of Trump tariff era” by Axios“Sending 2 Kids to Daycare Costs More Than Rent in Most Major U.S. Metros” from Redfin“Head Start avoids Trump's cuts, but advocates are ready to defend it: ‘There's too much good in this'” by The GuardianLISTEN: “Will you be my nanny?” from “This Is Uncomfortable” “Life of the Mother” by ProPublica“Finding Strength in a Bigger Body” from The Cut“How one writer quit dieting and discovered her strength through weightlifting” by NPRJoin us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

On today's episode: Marketplace's Reema Khrais joins Kimberly to discuss two stories from opposite ends of the housing spectrum – cuts to rental assistance programs and the soaring cost of starter homes. Then, Kimberly explains yet another reason why the rest of the world is giving the U.S. major side-eye. And we'll smile about a slimy substance that might help keep microplastics at bay and parrots connecting over Facetime.Here's everything we talked about today:“Proposed cuts to housing programs could affect millions, experts warn” from The Washington Post“Where starter homes cost at least $1 million” by AxiosThis Is Uncomfortable Season 11 from Marketplace“You Have a Message From Taiwan” by The Wall Street Journal“Why the Asian currency blowup matters” from Axios“Scientists Taught Pet Parrots to Video Call Each Other—and the Birds Loved It” from Smithsonian Magazine“Okra and fenugreek extracts remove most microplastics from water, finds research” on Phys.org Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

So far, President Trump's “drill, baby, drill,” agenda has proven to be a sharp turn from Biden-era climate initiatives, including the landmark spending bill the Inflation Reduction Act (IRA). And thanks to President Trump's attempts to claw back control over IRA funds, as well as his recent budget proposal which drastically cuts climate spending, the future of America's fast-growing clean energy economy looks uncertain. “The world is switching to electric vehicles, the world is switching to solar and wind,” said Christopher Knittel, economics professor and associate dean for climate and sustainability at the MIT Sloan School of Management. “And the less we do domestically, the less capability we build domestically to provide those clean energy resources, the worse off our industries will be in the future.”Knittel explains President Trump's efforts to phase out Biden-era climate initiatives, why some Republicans are reluctant to get rid of the IRA entirely, and why the U.S. getting left behind in a world committed to decarbonization poses a threat. Plus, the new Canadian Prime Minister Mark Carney told President Trump that Canada is “not for sale” in a meeting earlier today. And, the REAL ID deadline is coming in hot, though not all states seem equally prepared. Then, we'll hear about how Seattle businesses are showing love for Canadian visitors and a listener share's her daughter's frustrations with “shrinkflation.”Here's everything we talked about today:- Trump administration cancels clean energy grants as it prioritizes fossil fuels by AP News- What Trump's budget cuts could mean for the environment by AP News- The Race to the Top in Six Charts and Not Too Many Numbers from RMI- Republicans haggle over green tax credits as battle lines deepen from Politico- How We Survive from Marketplace- Trump's trade war with Canada has backfired on America. Now he has a crucial meeting with Mark Carney from CNN Business- Trump knocks Canada ahead of Carney meeting by The Hill- @carlquintanilla.bsky.social‬ on Bluesky- What you need to know about the REAL ID requirements for air travel from NBC News- Real ID deadline is weeks away and most states aren't fully compliant yet from CBS News- Seattle Restaurants Are Offering Canadian Tourists a Discount, and an Apology by Eater SeattleGot a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The Trump administration is hoping tariffs will spur companies to bring manufacturing back to the United States. But a new survey from the Federal Reserve Bank of Dallas found that most companies are planning to deal with tariffs another way. (Spoiler alert: we totally saw this coming!) We'll also discuss how the Department of Homeland Security is hoping to cut the cost of mass deportations. Plus, did Trump get the idea to reopen Alcatraz from a movie?Here's everything we talked about today:-Post on Bluesky from Carl Quintanilla-"Tariff Politics; Rent-Stabilized Tenants May See a Rent Hike; Surviving Wall Street; Celebrating NYC's Mexican Communities" from The Brian Lehrer Show -"DHS Announces Historic Travel Assistance and Stipend for Voluntary Self-Deportation" from Department of Homeland Security -"US offers $1,000 stipend to encourage migrants to self-deport" from Reuters-"Mass Deportation: Devastating Costs to America, Its Budget and Economy" from American Immigration Council-"Trump Seems to Have Decided to Reopen Alcatraz Because of a Movie" from The New Republic-"Trump Says He Wants to Reopen Alcatraz as a Functioning Prison" from The New York Times-"Met Gala 2025: Highlights from exhibit of Black style and designers" from AP News  -​"'Tailoring Black Style': Dandyism shines at the 2025 Met Gala" from NPRGot a question for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

On today's episode, Kimberly joins "Economics on Tap" from the Toronto airport. We'll unpack President Trump's elimination of a tariff loophole known as the de minimus exemption that went into effect today, meaning low-cost shipments will no longer enter the United States tariff-free. Without it, Americans could start to feel some serious tariff pain. And, President Trump is renewing threats to revoke Harvard University's tax-exempt status. Plus, we'll play a round of Half Full/Half Empty.Here's everything we talked about today:-"Trump's tariffs come for fast fashion, and the blowback could be fierce."  from Politico -"Harvard President Says Any Move to Revoke Tax-Exempt Status Would Be ‘Highly Illegal'" from The Wall Street Journal -"Trump aims to cut $6 billion from NASA budget, shifting $1 billion to Mars-focused missions" from CNBC-"Visit this store for a free iris scan to ‘prove' you're human, not AI" from The Washington Post-"MoviePass' Next Big Bet: A Fantasy Box Office App" from The Hollywood Reporter-"A little retirement, as a treat" from MarketplaceGot a question for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

This week, President Trump acknowledged his tariffs were resulting in costlier items in the U.S., but maintained his position that China was taking the majority of the heat. If people can't afford to buy as much, might that be a recipe for recession? We'll discuss, and answer a listener's question on what exactly is a recession. Plus, how uncertain economic conditions might make someone reconsider a luxury cheese purchase.Here's everything we talked about today:- Recession defined by the U.S. Bureau of Economic Analysis (BEA)- “Trump says US kids may get '2 dolls instead of 30,' but China will suffer more in a trade war” from the Associated Press- WATCH: “Trump says kids may get '2 dolls instead of 30' because of trade war with China” from the Associated Press- “Trump, on Tariffs, Says ‘Maybe the Children Will Have 2 Dolls Instead of 30'” from The New York Times- “Spending by American companies on computers in Q1 grew at the fastest pace since 1983” by Marketplace- Check out the Canadian cheese shop Kimberly mentions in this episodeJoin us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

The Commerce Department reported the U.S. economy contracted by 0.3% in the first quarter of this year. We'll break down the GDP math formula and dig into what the latest report says about where the US economy may be headed. And, should businesses be transparent about the impact of tariffs on prices? A nixed plan from Amazon serves as a cautionary tale of the political risks. Plus, feeling stressed these days? Cow cuddling and bee therapy might help.Here's everything we talked about today:-"Trump blames Biden after GDP shrinks in first quarter, says growth will 'take a while'" from CNBC -"Businesses weigh how much to tell customers about tariffs' impact on price" from Marketplace-"Trump-Bezos call sets stage for tense earnings report from Amazon" from CNBC-"Trump vs. Amazon's Brilliant Tariff Idea" from The Wall Street Journal -"The Americans Fled Vietnam 50 Years Ago. I Visited the Buildings They Left Behind."  from The New York Times"Anxious about the world? Cow cuddling or bee buzzing might help ease your stress" from The Denver PostGot a question for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

After declaring victory in yesterday's Canadian election, Prime Minister Mark Carney said the “old relationship” with the United States is over. Over the past few months, President Donald Trump's on-and-off tariffs and repeated annexation threats have caused Canadians to reconsider the United States as its leading trading partner and ally. But Patricia Goff, professor of political science at Wilfrid Laurier University, said the idea of disentangling the two economies is unrealistic. On the show today, Goff explains how Trump's tariffs and annexation threats influenced the Canadian election, how Canadian industries are navigating the trade war, and what this all could mean for the future of the U.S.-Mexico-Canada trade agreement.Plus, we'll hear a pitch for a new “Make Me Smart”-themed rear window sticker. And, what one psychologist got wrong about burnout. Here's everything we talked about today:"Trump knows exactly what he just triggered in Canada" from CBC News"Liberal Bruce Fanjoy topples Pierre Poilievre in Carleton" from CBC News"Canada-U.S. Relations Continue to Reach Lows Over Tariffs and Annexation Threats" from The New York Times"Mike Myers Is Ready to Defend Canada" from The New York Times"Canada says its friendship with the US is ‘over.' Now what?" From Politico "The future of the USMCA" from the Peterson Institute for International EconomicsWe want to hear your answer to the Make Me Smart question. Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

On the show today, Kimberly joins us from an Ontario polling station on Canada's election day. We'll get into how President Trump's trade war has shaped the federal election and may boost voter turnout. Plus, what Canadians are saying about boycotting American products and canceling their U.S. vacations.Here's everything we talked about today:"Canadians vote today after fierce campaign shaped by Trump" from CBC News"Canada votes in an election upended by Trump. Here's what to know." from The Washington Post "Canada's Political Landscape Upended by Trump, Trudeau and Tariffs" from The New York TimesGot a question for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Americans expect inflation to rise to 6.5% this year according to the University of Michigan's latest consumer sentiment survey. That's the highest outlook since 1981. We'll explain why those high inflation expectations could be keeping Federal Reserve Chair Powell up at night. And, the deal filmmaker Ryan Coogler made with Warner Bros. to make his latest horror movie “Sinners” is anything but ordinary. Could it shake up the Hollywood studio system? "Trump administration reverses abrupt terminations of foreign students' US visa registrations" from Politico"Ryan Coogler's 'Sinners' isn't just scaring audiences. It's scaring Hollywood." from MSNBC"Inflation expectations remain at highest level since 1981 even after Trump's 90-day tariff pause" "Pickle, a Fashion App, Lets Strangers Borrow Your Clothes" from The Cut"Subtitling Your Life" from The New Yorker"Is community fact-checking the future of social media moderation?" from Marketplace"The $20,000 American-made electric pickup with no paint, no stereo, and no touchscreen" from The VergeGot a question for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Today, we're answering questions from our listeners about everything going on in this economy (we know, it's a lot). Like, whatever happened to that bipartisan bill that would pass authority over tariffs back to Congress? We'll get into the status of the legislation and how states are jumping into the fight. Plus, we'll discuss the legality of the Trump administration's funding freezes and how foreign trade zones are helping some companies avoid sky-high tariffs.Here's everything we talked about today:“Congress gave presidents power over tariffs. They could aways take it back” from CNN Politics“12 States Sue Trump Over His Tariffs” by The New York Times“Trump says he has 'no intention' of firing Fed Chair Jerome Powell” from AP News“If Trump wants rate cuts, he would likely need to replace the Fed's full board along with Powell” by CNBC“How Congress — and not the president — controls how taxpayer money is spent” from Marketplace“Trump tariffs lead to surge of companies parking imports in tax-free 'foreign trade zones'” from CNBC“How Foreign Trade Zones In The U.S. Came Into Existence” by NPRGot a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The Overton Window is a concept that helps explain how the range of policies considered politically acceptable shifts over time. But have you heard of the “Ryssdal Window"? We'll explain how it relates to what's happening in the markets right now as president Trump hints at a possible change of heart on China tariffs. Plus, the FDA suspended a milk quality testing program. With less federal oversight, can private industries regulate themselves? And, the physics behind a great cup of coffee.Here's everything we talked about today:"White House Considers Slashing China Tariffs to De-Escalate Trade War" from The Wall Street Journal"FDA milk quality testing program suspended after job cuts" from The Hill"‘Crazy': Forest Service cuts ignite fear, fury over wildfire risks" from Politico"The Physics of Perfect Pour-Over Coffee" from The New York Times"Hegseth orders makeup studio installed at Pentagon" from CBS NewsGot a question for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Yes — Obamacare is before the Supreme Court, again. This time, the case centers on the legality of an advisory task force. Experts worry it could spell the end of an ACA mandate requiring insurers to cover certain preventative care services at no cost. But first: Secretary of Defense Pete Hegseth is caught up in another Signal group chat scandal. Plus, Paul Revere wasn't the only midnight rider to warn that the British were coming.Here's everything we talked about today:"‘An amateur person': GOP Rep. Bacon says Hegseth should go" from Politico"Obamacare returns to SCOTUS, with preventive care on the line" from Politico"Court to hear challenge to ACA preventative-care coverage" from Scotus Blog "Kristi Noem's Purse, With Security Badge and $3,000, Is Stolen" from The New York Times"Paul Revere Wasn't the Only Midnight Rider Who Dashed Through the Darkness to Warn the Patriots That the British Were Coming" from Smithsonian Magazine "April 18, 2025" from Heather Cox Richardson Got a question for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Stop us if you've heard this before: We're in an unprecedented economic moment. But this time really is different. America's place in the global economy is shifting. And what happens next is going to matter for businesses, consumers and you. Today, Kai Ryssdal's popping into your feed with special coverage and reporting from Marketplace to help you make sense of the scale and scope of the economic change in real time.We count on you, our listeners, to help cover the cost of the reporting that you rely on. If you can, please donate to help keep Marketplace programming free and accessible for all.

Undocumented workers aren't the only immigrants being targeted by the Donald Trump administration. Green card holders are facing deportation threats as well. We'll discuss the far-reaching implications of Trump's immigration crackdown, from the labor market to higher education in the United States. Plus, what Kilmar Abrego Garcia's deportation case could mean for due process. And, we'll weigh in on crunchy foods and living underwater during a round of Half Full/Half Empty.Here's everything we talked about today:"Trump's Immigration Crackdown Expands to Green Card Holders" from The New York TimesTweet from the White House "Colleges Fear Decline in International Student Enrollment" from Inside Higher Ed"A Young Generation Goes to Work for Mom and Dad Inc." from The Wall Street Journal"How crunch took over our taste buds" from Fast Company"The Techno-Utopian Seasteaders Who Want to Colonize the Ocean" from The New York Times"Fox Nation Plans Game Show About Isolated People Guessing What Trump Did In His First 90 Days" from The Hollywood ReporterGot a question for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Hey Smarties! Today we're sharing an episode from our friends over at “How We Survive,” Marketplace's climate solutions podcast. This season, host Amy Scott and the team dig into the rise of environmental, social and governance-based investing, or ESG, and the right wing backlash that followed. In this episode, the story of ESG's start revolves around some unexpected players: rabbis, nuns and other faith-based investors.

In over a hundred years, no president has ever fired the chair of the Federal Reserve … yet! President Donald Trump says he could show Jerome Powell the door, even though Powell says he's not going anywhere. We'll explain why it might all come down to the Supreme Court. Plus: the economic conditions that led to the American Revolution. And, a smile-worthy photo reminds us it's never too late to try new things!Here's everything we talked about today:“Trump: If I ask Powell to leave, ‘he'll be out of there'” by The HillHumphrey's Executor v. United States from Oyez“Recreating Paul Revere's ride from Boston 250 years later, 2 men prepare for landmark journey” from CBS News Boston“A Hall of Fame baseball player picked up photography in retirement. He captured one of the defining shots of the Masters.” by Business InsiderJoin us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

Since President Donald Trump took office, his administration has ignored court rulings on a range of issues from press access to deportations. Now, a federal judge might hold him in criminal contempt of court. We'll unpack the Zeno's paradox of constitutional crises. Plus, where luxury goods actually come from and why you may want to think twice before buying one. And if you're looking to zone out, turn on the “Great Moose Migration.”Here's everything we talked about today:@kyledcheney.bsky.social‬ on Bluesky“What happens if a president and the federal government fail to follow a judge's orders?” by NBC NewsJ.G.G., et al., v. Donald J. Trump, et al. from the United States District Court for the District of Columbia “What to do in case of a constitutional crisis” by CNN“How is civil society responding to the US constitutional crisis?” from the Brookings Institution“Trump's China tariffs spark viral TikTok work-arounds” from Fast Company“'Chinese Warehouse' TikTok Videos Urge Americans to Buy Directly From Them” from Newsweek“Ignore advice to buy direct from Chinese factories with DHGate, others” from The Washington Post“The ‘Great Moose Migration' Livestream Captivates Sweden” from The New York TimesGot a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Happy Tax Day, folks. While you're hitting “Submit” on your returns, lawmakers in Washington are negotiating over what next year's Tax Day could look like. Congress is aiming to pack President Donald Trump's promised tax cuts into one behemoth reconciliation bill. But Caitlin Reilly, tax and economics reporter at CQ Roll Call, said there's a long way to go before making these promises a reality. On the show today, Reilly explains why Congress is pursuing “reconciliation,” the accounting magic lawmakers are using to make certain tax cuts look free, and how the House and Senate will square two drastically different mandates for spending cuts. Then, we'll look into how Boeing is getting caught up in the U.S.-China trade war. And, a tax professor answers the “Make Me Smart” question.Here's everything we talked about today:"House Republicans Passed a New Budget. Here's What's in It." from The New York Times"Senate GOP passes budget plan, setting up a critical next phase for Trump agenda" from NPR"House GOP adopts budget framework, paving the way for Trump's ‘big, beautiful bill'" from Politico "'Current policy' debate dogs budget reconciliation efforts" from Roll Call"Your cheat sheet to Congress' budget fight" from PBS Newshour"China Goes After Boeing, Tells Airlines Not to Order New Aircraft From U.S. Jet Maker" from The Wall Street Journal We want to hear your answer to the “Make Me Smart” question. Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Nearly a decade after Brexit, the British economy is still feeling the fallout. Now, President Donald Trump seems to be pulling from a similar playbook — with tariffs that could reshape the U.S. economy in eerily familiar ways. (Shocker, we know!) But first: Trump threatens to send Americans to prisons in El Salvador. The constitutional crisis alarm bells are ringing. Plus, poop in space is a bigger problem than you might think.Here's everything we talked about today:"Trump again threatens to send Americans to prisons in El Salvador" from Axios"Fox Nation Plans Game Show About Isolated People Guessing What Trump Did In His First 90 Days" from The Hollywood Reporter"Trump admin shrinks federal Medicaid funding available to states" from Axios"HHS Lays Off All Full-Time Cruise Ship Health Inspectors Amid Illness Outbreaks: Report" from The Huffington Post"NASA offers $3M in competition to recycle human poop in space" from UPI"How Brexit, a Startling Act of Economic Self-Harm, Foreshadowed Trump's Tariffs" from The New York Times"Meet the Comedian Putting Trump Voter Regret to Music" from Rolling Stone Got a question for our hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Amid this week's tariff turmoil, U.S. stocks tumbled, U.S. Treasurys sold off, and the U.S. dollar weakened. Kai explains what this triple sell-off could mean for the future of the American economy. And, is the era of cheap stuff in America over? Donald Trump administration officials are arguing it's a good thing. We'll get into it. Plus, we'll weigh in on penguin memes and using public phones during a round of Half Full/Half Empty. Here's everything we talked about today:"Treasury Secretary Bessent says the American dream is not about 'access to cheap goods'" from CNBC"Cheap Consumer Goods Are the American Dream, Actually" from Bloomberg"The Trump administration says cheap goods aren't part of the American dream. They're wrong." from Vox"The bond market is acting weird. It spooked Trump" from CNN Business"After Trump's Tariffs, Stocks Plunged but Penguin Memes Ticked Up" from The New York Times"More students opt for certificates as undergraduate degree earners decline" from Marketplace"A Frenzy at Trader Joe's: ‘Everyone's Here for the Tote Bags'" from The New York Times"The Masters offers public phones as alternatives to cellphones. Here's what attendees think" from Fast CompanyGot a question for our hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Today, it's all YOU! We're diving into the mailbag to play your voicemails, read your comments, and answer your questions after a wild week of tariff insanity. We'll hear from YOU on how you've been riding the economic uncertainty. Plus, is Trump's tariff pause, really a pause? And a listener shares what it's been like teaching elementary students about tariffs. Here's everything we talked about today:“US-China Trade War Tariffs: An Up-to-Date Chart” from the Peterson Institute for International Economics“The Fiscal and Economic Effects of the Revised April 9 Tariffs” from The Budget Lab at YaleMillion Bazillion by MarketplaceJoin us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

The world woke up to a very different economy today. Then, President Trump announced a 90-day pause on his latest round of tariffs. The news was annouced as the official in charge of U.S. trade policy was testifying on Capitol Hill. We'll break down the trade official's tense exchange with lawmakers and the real consequences of this week's market madness. Plus, we'll laugh so we don't cry about the economy.Here's everything we talked about today:"U.S. Trade Rep. Testifies on Pres. Trump's Trade & Tariff Agenda" from CSPAN"Live updates: Trump orders 90-day pause on new tariffs except for China" from CNN Politics Bluesky post from Jeva Lange How are you coping with the tariff whiplash? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

You may be wondering whether the prices of your go-to products, from avocados to smartphones, will be raised by tariffs in the coming weeks. We hear you! On the show today, Martha Gimbel, executive director of the Budget Lab at Yale, gives us a broad view of the tariff landscape, how the prices of certain consumer goods could change, and how Trump's trade agenda could impact the American economy in the long run. Plus, why a trade deficit isn't necessarily a bad thing.Then, we'll smile about the joy of listening to kids learn to talk. And, Carrie Lane, author of “More Than Pretty Boxes: How the Rise of Professional Organizing Shows Us the Way We Work Isn't Working,” answers the Make Me Smart question.Here's everything we talked about today:"Tariffs on China set to rise to at least 104% on Wednesday, White House says" from CNN Business"Stock Market Today: Dow, S&P 500 Swing Wildly; Trump Threatens More China Tariffs" from The Wall Street Journal"What is the status of the Trump administration's tariffs?" from Marketplace"Where We Stand: The Fiscal, Economic, and Distributional Effects of All U.S. Tariffs Enacted in 2025 Through April 2" from The Budget Lab at Yale"Trump Tariff Tracker" from the Atlantic CouncilGot a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Markets are still reeling after President Donald Trump announced sweeping tariffs last week, and business leaders, including JPMorgan Chase CEO Jamie Dimon, are speaking out. Kai Ryssdal is back from vacation, and he’s not impressed. Get ready for a rant. Plus, the conservative and libertarian groups splitting from Trump over his trade policies. And, our thoughts on last weekend’s nationwide “Hands-Off!” protests. Here's everything we talked about today: “JPMorgan CEO Jamie Dimon Warns Tariffs Will Raise Prices, Slow Growth” from The Wall Street Journal “Jamie Dimon says Trump’s tariff policy is positive for national security so people should ‘get over it’“ from CNBC “New tariffs could spell major trouble for global economy” from the Competitive Enterprise Institute “Trump's Tariffs Are an Economic Emergency for Americans” from the American Enterprise Institute “Brace for Impact, America. Trump's Tariffs Will Soon Hit Your Bank Accounts” from the Cato Institute Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

On this edition of “Economics on Tap,” Kimberly and Sabri discuss how it's nearly impossible to tariff-proof your shopping list (or cocktail) because of the way our global economy works. They also get into why reshoring might be easier said than done. Plus, could Congress claw back some of the authority on tariffs? And the hosts weigh in on this season of “White Lotus” in a round of Half-Full/Half-Empty! Here's everything we talked about today: “These cocktails and wines could get pricier if Trump imposes tariffs” from The Washington Post “US Senate Republican pushes to require congressional approval for new tariffs” by Reuters “House Republican moves to rein in tariff powers” by Politico “Powell Warns Trump's Tariffs Risk Stoking Even Higher Inflation and Slower Growth” from The New York Times “The Revolving Restaurant Is Back Again (and Again)” from The New York Times “Americans Rush to Buy TVs, Soy Sauce, Lululemon Workout Gear” from The Wall Street Journal “This Financial Firm Can Give Investment Advice in Gen Z Slang, No Cap” from The Wall Street Journal ‘The White Lotus” Season 3 finale: How to watch, plus what we know about Season 4 from Yahoo Entertainment Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

President Donald Trump unveiled sweeping tariffs on American imports, with the levies coming in higher than expected. Do we need to be stockpiling our carts to get in front of rising costs? We asked economists how they’re personally preparing for higher prices. Plus, Reema and Kimberly unpack international responses as countries buckle up to negotiate — or take retaliatory measures. Also, why are we putting tariffs on uninhabited islands near Antarctica? Here's everything we talked about today: “Tariffs Will Hit All U.S. Imports. Price Hikes for These Items May Surprise You” from The Wall Street Journal “Tariff-related layoffs hit five US auto plants that supply factories in Canada and Mexico” from CNN Business “Sweeping Trump tariffs shock global economy, draw calls for talks” by AP News Watch: “In Full: Prime Minister Anthony Albanese responds to new US tariffs” by ABC News Australia on YouTube “‘Nowhere on Earth is safe': Trump imposes tariffs on uninhabited islands near Antarctica” by The Guardian “The Blunt Force Trauma of the Trump Tariffs” from Wired “Support Grows for President Trump's America First Reciprocal Trade Plan” from The White House Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

Keyed to President Donald Trump’s tariff announcement today, Kimberly and Sabri unpack some of the messaging about the impact tariffs had during the president’s first term and explain why many of those claims are overblown. Plus, why we’re smiling about Sen. Cory Booker’s historic speech and how Sabri fell victim to April Fools’ Day shenanigans! (Note: This episode was recorded prior to Trump's speech.)  Here's everything we talked about today: “Trump's Tariffs Make the Fed's Interest Rate Decisions Tougher” from The New York Times “Tariffs Work — and President Trump's First Term Proves It” from The White House “Economic View: Tariffs Have Strengthened the U.S. Economy” from the Coalition for a Prosperous America “Economic Impact of Section 232 and 301 Tariffs on U.S. Industries” from the United States International Trade Commission “ITC Study Proves Effectiveness of China Tariffs on Boosting Domestic Production, Reducing Dependence on Imports” from the Coalition for a Prosperous America “Home Depot to Charge For Parking to Combat Inflation” by Pro Tool Reviews “Booker sets new record for longest Senate floor speech” from Roll Call @kimberlyadams.bsky.social‬ via Bluesky Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The idea that the government should be run more like a business isn’t new. But with two businessmen, Donald Trump and Elon Musk, now taking a proverbial chainsaw to the federal bureaucracy all in the name “efficiency,” this theory is being put to the test. While it’s an appealing idea, Philip Joyce, professor of public policy at the University of Maryland School of Public Policy, said governments can’t afford to take risks the way businesses can. On the show today, Joyce explains the origins of the idea that the government should be run like a business, how we define “success” differently for the two entities, and how the way Trump and Musk do business is showing up in the White House. Then, we’ll break down the high stakes of today’s special elections in Wisconsin and Florida. Plus, reflections on serendipitous moments in walkable communities and what we gain by admitting we were wrong. Here’s everything we talked about today: “Why Running the Government Like a Business Would Be a Disaster” from The New York Times “The US Government Is Not a Startup” from Wired “The US Postal Service has been struggling for years. Now Trump’s talking about privatizing it” from AP News “DOGE wants businesses to run government services ‘as much as possible'” from The Washington Post “UPDATE: RECOVER Long COVID pathobiology grants restored” from The Sick Times “NIH restores some long COVID grants” from C&EN “What to Watch in Wisconsin's Supreme Court Election and Florida's Special Elections” from The New York Times “What to watch for Tuesday in Wisconsin's high-stakes Supreme Court race and special elections in Florida” from CNN Politics “Control of the Wisconsin Supreme Court is at stake in race that’s drawn powerful political interests” from AP News “Volume 52 | Issue 1 | February 2025” from the American Ethnological Society Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

President Donald Trump has promised that a fresh wave of tariffs on April 2 will usher in an era of growth in American manufacturing. But does history bear that out? We'll explain how steel tariffs under President George W. Bush did more harm than good. And, in response to Trump’s trade agenda, the “buy Canadian” movement is gaining steam. American exporters are already feeling it. Plus, we’ll smile about flowers, parties and the unspoken rules of texting. Here’s everything we talked about today: “As ‘Buy Canadian' grows, more US companies say retailers shunning their products” from Reuters “Republicans scramble to shield their states from Trump's next wave of tariffs” from Politico “Why steel tariffs failed when Bush was president” from Politico “Are You a Hostile Punctuator???” from Time “‘God’s way of smiling at us’: Iconic DC cherry blossoms create lasting joy, new beginnings” from USA Today Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The artificial intelligence cloud computing provider CoreWeave sold shares to the public today with so-so results. Because it’s the first major IPO of the current generative AI era, some argue that CoreWeave could be a barometer of the AI boom. We’ll get into it. And, a federal appeals court ruled in favor of President Donald Trump’s firings of independent agency heads. The case will likely make its way to the Supreme Court. Plus, we’ll play a round of Half Full/Half Empty! Here’s everything we talked about today: “Appeals court clears way for Trump to fire leaders of ‘independent' federal agencies” from Politico “CoreWeave stock seesaws after IPO in first big test of AI trade” from Yahoo Finance “CoreWeave Is A Time Bomb” from Ed Zitron’s Where’s Your Ed At “OpenAI Unveils New Image Generator for ChatGPT” from The New York Times “DoorDash and Klarna partner to offer buy now, pay later for takeout” from Marketplace “Crocs hits record revenue as popularity with younger consumers soars” from Marketplace “When should we pay rent with a credit card? from Marketplace “Facebook's New Friends Tab Brings App Back to Its Roots” from The New York Times Marketplace's March fundraiser ends today! Chip in now and pick up a classic public media thank-you gift: https://support.marketplace.org/smart-sn

On today’s episode, Kai and Reema discuss the disturbing arrest of a Turkish national with a valid student visa at Tufts University and the effects these immigration detentions are having on political speech. Plus, WNBA team New York Liberty got a shiny, new training facility. (No, it’s not a spa!) And, another big oops for National Security Adviser Mike Waltz. You just can't make this stuff up. Here's everything we talked about today: “New York Liberty Unveil Practice Facility Amid WNBA's Race to Attract Talent” from The New York Times “DoJ lawyers say detained Tufts student was sent to Louisiana before court order” by The Guardian Video: Marco Rubio’s comments on Ozturk’s arrest posted by Aaron Rupar on Bluesky “Mike Waltz Left His Venmo Friends List Public” by Wired Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

In all the talk about senior White House officials discussing military attack plans over the messaging app Signal (and accidentally invited a journalist to the chat), one detail is being overlooked: the impact of the attacks on Yemen. We’ll get into it. And, we’ll unpack the chilling effect the Trump administration is having on U.S. tourism. Plus, nobody remembers that embarrassing time you misspoke in a Zoom meeting, right? Here’s everything we talked about today: “Foreign Travelers Are Rethinking Travel to the U.S.” from The New York Times “Beyond the Signal fiasco, Trump's Yemen strategy needs more scrutiny” from The Washington Post “Here Are the Attack Plans That Trump's Advisers Shared on Signal” (gift link) from The Atlantic “Living Car-Free in Arizona, on Purpose and Happily” from The New York Times “The Ford Executive Who Kept Score of Colleagues' Verbal Flubs” from The Wall Street Journal “As Republicans Denounce NPR and PBS, Democrats Mock Hearing” from The New York Times Help Marketplace and Make Me Smart plan for an uncertain future. Donate now during our March fundraiser.

The United States and Ukraine are weighing a deal that would give the U.S. a cut of revenues from Ukraine’s rare earth minerals. But Gracelin Baskaran, mining economist at the Center for Strategic and International Studies, said rare earths aren’t all that rare. So why is the Trump administration scrambling to get its hands on these minerals from other countries? On the show today, Baskaran explains what rare earths are, why mining them isn’t always economically attractive, and what the U.S. is doing to try to catch up with China’s rare earth production. Plus, why recycling is only part of the solution. Then, we’ll get into why Canadians are boycotting American vacations. And, how easy is it to get someone to dream about a tree or supply chain economics? Here’s everything we talked about today: “Opinion | How Trump Can Turn the Ukraine Mineral Deal Into Real Security” from The New York Times “US seeks to reopen terms of Ukraine minerals deal” from Financial Times “Fact Sheet: President Donald J. Trump Takes Immediate Action to Increase American Mineral Production” from the White House “Ukraine mineral deal could bolster U.S. supply of key materials” from Marketplace “Why does DRC want a Ukraine-like minerals deal with Trump, amid conflict?” from Al Jazeera “The Space Station Is Too Clean, and It's Making Astronauts Sick” from The Wall Street Journal “Canadians Are Boycotting American Vacations” from The Wall Street Journal Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Most of us can only wonder what goes on in U.S. national security leaders' group chats, but The Atlantic's Editor-in-Chief Jeffrey Goldberg doesn’t have to. Last week, Goldberg was accidentally included in a Signal group chat with high-ranking members of the Donald Trump administration, in which they discussed imminent war operations. Yes, this actually happened. Plus, the whopping $2.1 billion verdict you might’ve missed over Roundup weed killer. And, we smile over what’s happened since congestion pricing went into effect in Manhattan — all while dropping some Latin vocab. Here's everything we talked about today: “The Trump Administration Accidentally Texted Me Its War Plans” by The Atlantic “Bayer Drops After $2 Billion Verdict in Latest Roundup Trial” from Bloomberg “Third Circuit Rules Failure to Warn Claims Preempted by FIFRA” from the National Agricultural Law Center “Denzel Washington and Jake Gyllenhaal break Broadway box office records with ‘Othello'” by CNN “Congestion Pricing is a Policy Miracle” by Better Cities via Substack Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

It’s almost peak bloom in Washington, D.C., which means it’s time for our annual cherry blossom celebration! But first, some federal funding news: Columbia University will give in to far-reaching demands by President Donald Trump to restore threatened federal funding. We’ll get into what kind of precedent the move sets for higher education. And, the U.S. Department of Agriculture will cancel $500 million in food deliveries. Rural food banks could be impacted most. Plus, we’ll play a blossom-themed round of Half Full/Half Empty! Here’s everything we talked about today: “Trump weighs in on report King Charles will offer U.S. Commonwealth membership” from The Independent “Columbia Yields to Trump in Battle Over Federal Funding” from The Wall Street Journal “USDA cancels $500M in food deliveries, leaving food banks scrambling” from The Washington Post “Ohio among best places to see cherry blossoms blooming. Here’s where” from The Columbus Dispatch “Cherry Blossom predictions are in! Will AI bloom or bust?” from George Mason University “Beyond the bud: How the nation’s pink trees became an indicator of changing climate” from WBAL “2025 National Cherry Blossom Festival set to boost DC tourism” from ABC7 News Donate to our March fundraiser to get classic public media thank-you gifts! https://support.marketplace.org/smart-sn

Not totally sure how tariffs work, who pays for them and how they’re collected? Look no further. In today's episode, Kai and Nova answer these questions and more. We'll explain how tariffs are applied and what they’re based on, as well as what happens when a good crosses a border multiple times. Plus, what's the point of a country retaliating with tariffs if its citizens have to pay for them? We'll get into it. Here's everything we talked about today: “Who Pays for Tariffs? Here's What You Need to Know.” by The New York Times “China’s retaliatory tariffs on agricultural goods will squeeze farmers” from Marketplace Listen: Audio snippet on deals exporters and importers make to determine who will pay in the event of unexpected tariffs via OtterAi “How Tariffs Work” from The New York Times “Automakers warn that Trump tariffs will hike vehicle prices as much as 25%” from Reuters “Buying a Car? Trump's Tariffs Could Make It More Expensive.” by The New York Times “Europe Delays Tariffs on U.S. Whiskey to Make Time to Negotiate” by The New York Times “Trump’s 200% tariff threat would be ‘a real disaster’ for Europe’s wine industry” by AP News Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

President Donald Trump’s tariff fight with the European Union just got a little more heated after the EU accused U.S. tech giants Google and Apple of breaching antitrust rules. Could this escalate the EU-U.S. trade war? We’ll also talk about the erasure of Black history and why Elon Musk is about to be back in the money. Finally, Nova makes us smile with some of the funniest and nerdiest bumper stickers seen around the streets of Los Angeles. Here's everything we talked about today: “Jackie Robinson's Army career wiped from military website in DEI purge” by NBC News @danlamothe.bsky.social‬ on Bluesky “Elon Musk's X Raises Almost $1 Billion in New Equity Funding” by Bloomberg “EU accuses Google and Apple of breaking its rules, risking Trump clash” from The Guardian “The funniest, weirdest and most niche bumper stickers seen around L.A.” by The Los Angeles Times Watch: “Debussy Prelude to the Afternoon of a Faun” performed by the Detroit Symphony Orchestra on YouTube Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Hey Smarties! Today we’re revisiting an episode from earlier this year that might help you make sense of all the tit for tat tariff fight from the past few weeks. It unpacks some tariff history and the potential economic consequences of President Trump’s ongoing trade war. If President Donald Trump goes through with his plan to levy sweeping tariffs on foreign imports, it wouldn't be the first time the U.S. has done such a thing. Ever heard of the Smoot-Hawley Tariff Act of 1930? Anyone? Those tariffs are widely credited with sinking the United States deeper into the Great Depression. And although global trade looks different nowadays, they can teach us a lot about how Trump's protectionist approach to global trade could play out. On the show today, Inu Manak, a fellow for trade policy at the Council on Foreign Relations, explains how the Smoot-Hawley tariff debacle can shed light on the current moment, why the president has the power to wield tariffs in the first place, and how punishing trading partners could leave the U.S. economy at a disadvantage. Plus, what this fight has to do with the 1980s film “Ferris Bueller's Day Off” and Roomba vacuum cleaners! Later, one listener's call to visit your local butcher. And, dating coach Damona Hoffman, host of the “Dates and Mates” podcast, answers the “Make Me Smart” question just in time for Valentine's Day. Here's everything we talked about today: “Tariffs on Trading Partners: Can the President Actually Do That?” from Council on Foreign Relations “One Response to Trump's Tariffs: Trade That Excludes the U.S.” from The New York Times “The United States has been disengaging from the global economy” from the Peterson Institute for International Economics “Protectionism 100 years ago helped ignite a world war. Could it happen again?” from The Washington Post “The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today's globalized system” from The Conversation Double your impact when you donate to Marketplace today, thanks to a $30,000 match from the Investors Challenge Fund: https://support.marketplace.org/smart-sn

On today’s episode, Kai Ryssdal and Kimberly Adams discuss the Donald Trump administration’s disregard for the courts. The White House has ignored a judge’s order to turn around a pair of deportation flights and failed to rehire federal workers. A constitutional crisis has arrived. Plus, get ready for a three-bleep Kai rant. And how anime helps explain the GOP’s attempt to get around the real cost of its $4 trillion tax cut. Here's everything we talked about today: “Black War Hero’s Medal of Honor Page Deleted by Pentagon” from Newsweek “Donald Trump Is Itching for a Legal Showdown Over Deportations” by Vanity Fair “What court orders? Trump’s moving full steam ahead to slash more federal workers” from Politico “Exclusive: How the White House ignored a judge’s order to turn back deportation flights” from Axios “Trump admin live updates: Border czar says ‘I don’t care what the judges think’” by ABC News “Crematory horrors spur Maryland lawmakers to push for reform” by The Washington Post “A Congresswoman with Dementia Stopped Coming to Work. The DC Press Corps Never Noticed.” by Politico “The Budget Trick the G.O.P. Might Use to Make a $4 Trillion Tax Cut Look Free” by The New York Times @bbkogan.bsky.social on Bluesky “Republicans press for change in how CBO tallies cost of legislation” from Marketplace Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

A Republican-written spending bill is being backed by some Senate Democrats, including Senate Minority Leader Chuck Schumer, to avoid a government shutdown. Other Democrats — and much of the voter base — aren't happy. We’ll get into it. Then, we’ll close out the week with a round of Half Full/Half Empty, weighing in on Southwest Airlines' new checked bag policy and $19 strawberries. Plus, in the wake of a certain duchess' foray into television, what are your thoughts on celeb cooking shows? Here's everything we talked about today: “The Siberian Bone Hunters Diving for Ice Age Mammoth Fossils” from The New York Times “Dr. Oz, with a TV host's flair, promises simple solutions for America's health care ills” by Politico “Schumer Under Fire as Pelosi and Other Democrats Criticize Shutdown Retreat” from The New York Times “Half-Past Four is the New Five O'Clock in More Efficient Workday” from Bloomberg “5 Takeaways From Meghan Markle's Netflix Show ‘With Love, Meghan'” from The New York Times “Why does the viral Erewhon strawberry cost $19?” from Marketplace “Southwest Airlines is charging for checked bags. Will loyal flyers stick around?” from USA Today Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.