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As tariff pressures mount, China’s vice president and other leaders have agreed to meet with top U.S. officials. If history is any guide, substantial change to the tense trade relationship between the two countries will take time. So what’s urgent enough to discuss this week? Plus, some big companies issue more Eurobonds, small businesses tread lightly when discussing the trade war and “Marketplace” host Kai Ryssdal explains the latest Fed decision.
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:
Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.
And it’s looking like they won’t. As the Federal Reserve meets to determine the future of interest rates, don't hold your breath for any rate cuts. We'll give a preview of what to expect and hear about the added pressures the Fed is under given President Donald Trump's trade war. Plus, a handful of companies are responsible for major productivity growth, and Canadian truckers are being hit hard by tariffs.
A PSA for those whose homes burnt in the LA-area wildfires earlier this year: If the insurance company writes a check, it comes with two names on it — the property owner's and the bank's. But the bank may keep interest earned on that insurance payout. Now, a California assemblyman is trying to change that. We'll check in. Also: China lowers interest rates, and fewer international students come to the States for higher education.
From the BBC World Service: The Yemeni group started attacking shipping lanes around the Red Sea after the war in Gaza began. It's hoped the ceasefire will stop disruptions to major trade routes. Then, China and the U.S. are set to hold their first trade talks since sweeping tariffs were announced. Later: Spanish Prime Minister Pedro Sánchez on last week's massive power outage and former U.S. President Joe Biden on defense and international trade.
E-commerce sites like Temu and Shein might not be quite as cheap as they were a week ago now that tariffs are kicking in on even small-dollar imports. But these platforms known for selling low-cost goods from China have also sought to cut costs on delivery.
They contract in the U.S. with companies like UniUni, which promises to dispatch packages for $3 or less — well below the industry standard. How UniUni delivers on those low rates is the subject of a recent investigation by reporter Theo Wayt at The Information. He tells Marketplace’s Meghan McCarty Carino that drivers are hired through a network of subcontractors and UniUni pays them per item rather than an hourly wage.
The U.S. trade deficit hit a record high in March, as businesses rushed to bring in goods ahead of new import taxes. Now that President Trump’s tariffs on goods from China have set in and globally targeted tariffs are set to resume in July, what happens to the trade deficit? Plus: Lab-grown diamonds disrupt a centuries-old industry, a few big companies are back in the bond market and how the trade war could disrupt retirement plans.
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 Seattle
Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.
Ford Motor Company reported first-quarter results yesterday and said it’s suspending financial guidance for the rest of this year because of uncertainty resulting from tariffs. We'll hear more. Plus, some companies in Mexico are recruiting recently deported migrants from the States. And the guardians of interest rates at the Federal Reserve meet today and tomorrow on what to do about an economy under stress. Will they be hawkish or dovish?
On Wednesday, 133 Cardinals are expected in the Sistine Chapel to start choosing the next pope. And people worldwide are placing millions of dollars in bets over who they think will get the two-thirds majority required to become the Catholic Church’s next leader. Also on the show: OpenAI hits a roadblock in trying to become a for-profit company, and China's offering cash and more parental leave to encourage a baby bump.