Author: Marketplace

Remember the K-shaped economy? It’s the idea that the American economy recovered unevenly after the COVID-19 pandemic. Last week’s bombshell jobs report showed a similar pattern in the labor market, where certain sectors are booming, while others are falling behind. We’ll explain. And, we’ll unpack President Trump’s threats for a 100% tariff on semiconductors and the gap between what workers and employers want out of AI on the job. Plus, we’ll celebrate a listener’s career win!

Here’s everything we talked about today:

• "Tracking Trump’s New Tariffs on Every Country" from The New York Times
• "Trump vows 100% tariff on chips, unless companies are building in the U.S." from CNBC
• "Employers Pull Back on Hiring as Uncertainty Weighs on Plans" from The New York Times
• "How much say do workers have over the tech employers make them use?" from Marketplace
• "Providing ChatGPT to the entire U.S. federal workforce" from OpenAI
• "What workers really want from AI" from Stanford Report 

We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email makemesmart@marketplace.org.

You can use buy now, pay later for almost anything — a couch, new clothes, groceries. FICO now says it will unveil a new version of its credit score this fall, which would include BNPL. But at least two of the big companies that offer these microloans want to know more before sharing data with credit bureaus. Also today: presidential calls for leadership changes at Intel, data on job-finding, and a tariff-squeezed building contractor.

With President Donald Trump's tariffs in effect, we're now at the highest average level of import taxes since the 1930s — all in the name of boosting American jobs, raising money to pay for government spending, and exercising U.S. influence. But rates could still change as the U.S. finishes trade agreement negotiations and sorts out frameworks for existing deals. Also on the show: We'll parse new data on monetary losses from online scams.

From the BBC World Service: President Donald Trump's tariffs are now in effect, ranging from 10% to as high as 50%. We'll hear from reporters and analysts on the ground in Singapore, Delhi, and Zambia to check the mood among business owners. Plus, how far do you travel to pick up your groceries? For people living in the rural Australian settlement of Burringurrah, going shopping used to mean a 500-mile round trip, but that's changed after a new shop opened.

Section 1033 of the Dodd Frank Act was finalized at the end of the Biden administration and would require banks to give consumers free access and control of their personal banking data.

The rule had met legal pushback from the bank industry and the CFPB under the Trump administration planned to scrap it. But last week, the bureau said it will instead rewrite Section 1033.

Marketplace’s Meghan McCarty Carino discusses the news with Rohit Chopra, who served as the director of the Consumer Financial Protection Bureau when the rule was finalized in 2024.

The latest household debt report from the New York Federal Reserve is in. Delinquencies are on the rise — specifically, student loan delinquencies spiked into the double-digits. Experts say the news isn’t too alarming, even as consumers lean more on borrowing to get by. Also in this episode: Audi might build a U.S. factory to save on tariffs, a drop in international students could cost the U.S. economy, and Tennessee bans community benefits agreements.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Apple today plans to announce a new $100 billion investment aimed at boosting the compan’s production in the United States. It’s the latest in a string of moves by tech companies that could help maintain favor with the president and avoid tariffs. And, the Federal Aviation Administration wants to ease restrictions for drone package deliveries. We’ll get into the pros and cons of more drone-friendly skies. Plus, the origins of Pac-Man and a funeral fit for an AI chatbot model.

Here’s everything we talked about today:

• "Federal Aviation Administration looks to expand drone package delivery" from ABC News
• "Video Shows Drone Rescuing Man During Flood in China" from The New York Times 
• "Trump, Apple to Announce Fresh $100 Billion US Investment" from Bloomberg
• ”Trump to Double India’s Tariff to 50% Over Russian Oil Purchases” from The New York Times
• "'It's a reminder of childhood': How Pac-Man changed gaming - and the world" from BBC News

• "Claude Fans Threw a Funeral for Anthropic’s Retired AI Model" from Wired

  
  

  We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email makemesmart@marketplace.org.

More than 3,000 Boeing machinists are striking for a third day at plants in Illinois and Missouri, pushing for better pay, benefits, and scheduling. The walkout comes during the aerospace giant’s turnaround year, thanks to increased defense spending by the Trump administration. Also on today's show: OpenAI is taking another step toward becoming a cash-generating machine, and Thai exporters grapple with the fallout of President Donald Trump's tariffs.

An executive order could be on the way as early as today to push regulators to investigate whether banks discriminate against customers based on politics. The order would follow years of complaints by some conservatives, who claim banks turned them down over their political or religious views. We'll hear more. Plus, we'll learn how compounding pharmacies are competing with brand-name weight loss drugmakers. And, should investors be extra nervous in the month of August?

From the BBC World Service: The Trump administration's steepest tariffs yet take effect against Brazil today. A raft of Brazilian goods, including coffee, will face a 50% import tax in response to what Trump calls a "witch hunt" against the country's former president. We unpack the impact. Then, Thailand managed to dodge the worst of Trump's tariffs, but the lower levies are still going to pack a punch.