Category: 4-FrequentNewsStreams

Over the weekend, President Trump told retailers to “eat the tariffs” after Walmart warned of price hikes spurred by the trade war. Across the country, retailers are making tough calls when it comes to tariff costs. So why is Home Depot in a better position to keep prices stable than Walmart? Also in this episode: stablecoins inch closer to bank distribution, turbine backlog slows energy sector growth and we get some advice on what to buy before more tariffs kick in.

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Things aren’t looking so good for the U.S. dollar. Though it’s spent decades as the world’s reigning reserve currency, it’s been weakening lately thanks to tariffs and uncertainty in the U.S. economy.

But its declining value, has been in the making for a while, according to Harvard economist and author of the new book, “Our Dollar, Your Problem,” Kenneth Rogoff.

“The problem we’re facing is that, independent of this dollar phenomenon, interest rates are going up,” said Rogoff. “And if you’re the world’s biggest debtor, that’s tough.”

Rogoff joins Kai and Kimberly to unpack how the greenback became the world’s go-to currency, what a reserve currency actually is, why it’s been losing some of its value lately and what might take its place. Plus, how does military power tie into all this? 

We’ll also get into some potential cryptocurrency regulation coming down the pipeline and discuss the troubling parallel between Trumpism and Brexit. 

Then, you tell us what books help you reset – from classic literary romances to an apocalyptic sci-fi tale. And, our intern, Zoha Malik (hi!) shares her answer to the Make Me Smart question. 

Here’s everything we talked about today:

• “Our Dollar, Your Problem,” by Kenneth Rogoff from Yale University Press
• “How Trump Could Dethrone the Dollar” from Foreign Affairs
• “Why Is The US Dollar Weakening? Trump’s Tariffs Push Dollar Index To 3-Year Low.” from Forbes
• “Senate advances landmark crypto bill with Democrats divided” from Politico
• “Senate Advances Crypto Regulation Bill With Bipartisan Support” from The New York Times
• “Senate advances a major crypto regulation bill on a bipartisan vote” from NBC News
• “Brexit’s Failures Could Foreshadow Trump’s. Just Not in the Way You Might Think.” from The New York Times

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Higher tariffs are not working out so well for automakers. Subaru is raising prices, while GM is reportedly freezing shipments to China. Meanwhile, trade talks between the U.S. and Japan — home to Toyota, Honda and others — look to be moving slowly, at best. And later: One set of economic indicators points to a future economic slowdown, and a startup envisions a slow-moving sleeper train between Los Angeles and the Bay Area.

In yesterday's podcast, we brought you the history of how a white mob devastated Tulsa's Greenwood District during the 1921 Tulsa Race Massacre. Afterward, Black residents rebuilt and flourished, but what would come next would largely destroy the neighborhood — and much of its wealth — for good: the construction of the I-244 highway. But first, President Donald Trump is headed to Capitol Hill to get the GOP tax bill over the finish line.

From the BBC World Service: Chinese EV battery maker CATL, which supplies batteries for Tesla and Toyota, has just gone public on Hong Kong's stock exchange, raising more than $4.5 billion. That makes it the biggest listing in the world this year. We have the details. Also on the program, we learn about an Australian government plan to improve the lives and economic realities of people with autism.

The Libby McNeill & Libby plant in Blue Island, Illinois, once a bustling hub for canning local produce, has sat mostly vacant since it closed in 1968. After years of neglect under a nonprofit’s ownership, the city recently took control of the 515,000-square-foot site. Now surrounded by dumped debris and in need of major repairs, the building poses serious redevelopment challenges. Still, city officials and preservationists remain cautiously optimistic about its future potential. Reset spoke with Dennis Rodkin of Crain’s Chicago Business to explore the building’s past, present, and what could come next. For a full archive of Reset interviews, head over to wbez.org/reset.

California is known for being home to Hollywood and Silicon Valley. But the Golden State also has millions of acres of farmland, and we’re exploring how technology is changing that landscape in a series this week about “Agtech Valley.”

We visited HMC Farms with its farm manager Drew Ketelsen, who took us to an orchard of Lady Erin yellow peach trees trained to grow in narrow upright pillars rather than the usual rounded shape.

These days, Canadian consumers aren’t just interested in supporting their own homegrown businesses — they’re also actively avoiding American ones. In this episode, Marketplace’s Kimberly Adams visits businesses in Ontario to hear why our neighbors to the north are shunning U.S.-made products. Plus: An economist dissects the Moody’s downgrade of the U.S. credit rating, a Black-owned lender leverages grants from major banks to support its community and AI threatens the software engineering job sector.

 

President Trump signed an executive order barring birthright citizenship for children whose parents lack legal status in the U.S. and for some visa holders. Three judges have filed national injunctions to block this order, and the Supreme Court is deliberating the case. If the court sides with the Trump administration, automatic citizenship could be denied to kids in 28 states. Reset learns what’s at stake for Illinoisans from UIC law professor Steve Schwinn, Dulce Ortiz of the Illinois Coalition of Immigrant and Refugee Rights and the Mano a Mano Family Resource Center and Ana Gil Garcia the Illinois Venezuelan Alliance. For a full archive of Reset interviews, head over to wbez.org/reset.

Walmart had said it would raise prices in response to tariffs. Then, it got a call from the White House. Now, the retailer says it will swallow some of the costs. This has us wondering: where have all the free market diehards gone? Plus, Kimberly reflects on the tornadoes that hit her hometown of St. Louis, Missouri and explains FEMA’s plan to shift disaster costs to the states. Also? Did the GOP really name their reconciliation bill the “One Big Beautiful Bill?”

Here’s everything we talked about today:

• "Bessent says Walmart will absorb 'some tariffs' after speaking with retailer's CEO" from Fox Business
• "FEMA will shift more disaster recovery responsibilities to the states, acting chief says" from PBS News
• "Here’s the latest information on Friday’s tornado in St. Louis" from STLRP
• "Trump's bill advances in rare weekend vote as House conservatives negotiate changes" from NPR

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