Author: Marketplace

From the BBC World Service: Goods from South Korea will face a 15% tariff under a new trade deal. Meanwhile Brazil will be harder hit, with a 50% tax on imports. Plus, we hear how Chinese electric vehicle makers are targeting foreign consumers with affordable luxury.

Simon Johnson, Nobel-winning economist, joined Marketplace’s Meghan McCarty Carino to explain his current thinking about AI and inequality. He says the tech could bring productivity gains, but they might not benefit everyone.

U.S. GDP grew at a healthy clip in the second quarter of 2025. But a mathematical equation can’t convey nuance — like, say, six months of tariff chaos. Clear away the trade drama, and the country’s economic growth was more subdued. Also in this episode: The Fed keeps rates as-is despite historic “no” votes from committee members, crypto firms campaign for stablecoin to be the new credit card, and the private sector added about 70,000 service sector jobs in July.

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The United Nations this week warned that “widespread starvation, malnutrition and disease” are contributing to a rise in hunger-related deaths across the Gaza Strip. This comes as the flow of aid into Gaza has slowed in recent months and the price of food has increased drastically. On the show today, Reema shares what life looks like for her family there right now. And, we’ll get into the growing international pressure on Israel to lift barriers that organizations have faced in delivering aid.

Here’s everything we talked about today:

• "In Gaza, mounting evidence of famine and widespread starvation" from UN News
• "How Food Supplies in Gaza Have Dwindled Under the New Israeli Aid Plan" from The Wall Street Journal 
• "The Gaza Humanitarian Foundation Can Feed Starving Gazans" from The Wall Street Journal 
• "What’s Happening in Gaza? FAQ: Hunger and Humanitarian Aid" from World Food Program USA
• "A famine hasn't been declared in Gaza, but that may not matter, experts say" from ABC News

• "A conversation with Baba" from “This Is Uncomfortable”

  
  

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This morning's GDP figure showed that the U.S. economy grew at an annual rate of 3% in Q2 — a higher-than-expected rebound. But there's more than meets the eye. "The headline number is showing the volatility in trade and imports and exports, but the numbers underneath are showing very much a slow slowing of the U.S. economy," says economist Kathryn Anne Edwards. We'll discuss. And later: South African entrepreneurs are bringing power generation within reach to lower-income families and small businesses.

Friday is the latest deadline for the U.S. to sign trade deals with other countries, or else they'll face higher tariffs. The administration had promised 90 deals in 90 days when setting the later Aug. 1 deadline. But as of today, it's not 90 — it's more like six. Plus, under-16s won't be allowed to have YouTube accounts in Australia, and small businesses may be equipped to weather hard times in Michigan's cannabis industry.

From the BBC World Service: The Australian government announced it will ban children under 16 from having YouTube accounts starting in December. The ban also limits young people's use of TikTok, Instagram, Facebook, X, and Snapchat. We'll learn more. Then, South Africa has long struggled with power cuts. Now, some companies are introducing pay-as-you-go backup power systems. And, a UN environmentalist warns that new Brazilian legislation aimed at streamlining major infrastructure developments will lead to more deforestation.

Marketplace’s Meghan McCarty Carino speaks to Sayash Kapoor, a PhD candidate at Princeton and co-author of “AI Snake Oil." He says small tweaks to AI chatbots can often have big, unpredictable effects.

Consumer confidence ticked up in June, according to The Conference Board. At the same time, confidence in the labor market weakened for a seventh consecutive month. In this episode, what good are a bunch of confident consumers if they're stressed about finding work? Plus: SNAP cuts will hurt grocery stores, Americans have to buy foreign goods if we want other countries to buy our goods, and tariff costs negate productivity growth benefits.

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

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.

Along with some other federal agencies, the Trump administration has attempted to gut the Institute of Museum and Library Services. It’s a small agency, but public libraries across the country rely on its funding. The loss of federal grants isn’t the only thing these community hubs are up against. On the show today, Sam Helmick, president of the American Library Association, explains how public library funding works, the challenges presented by the shift to digital media, and what the culture wars look like on the ground at public libraries.

Later, listeners share their thoughts on the new No Tax on Tips and Overtime laws. Plus, a librarian answers the Make Me Smart question.

Here’s everything we talked about today:

• "The Trump Administration Is Threatening Libraries, Museums, and Other Nonprofits That Support the Arts, Humanities, and Learning" from the Center on Budget and Policy Priorities 
• "Libraries are cutting back on staff and services after Trump's order to dismantle small agency" from AP News
• "1 big thing: Libraries' e-book battle" from Axios

• “No Tax on Tips” Is an Industry Plant" from The New Yorker 

  
  

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