Category: 4-FrequentNewsStreams

Walmart officials are saying the retail giant will raise prices within weeks due to higher import taxes imposed by the Trump administration. The largest retailer in the country released Q1 results today — revenue was up, but the company declined to give profit guidance for the current quarter. Also on the show: busy times for Chinese exporters, proposed changes to Medicaid and a look at the future of interest rates.

Amid the uncertainty triggered by President Donald Trump's "Liberation Day" tariff announcements, many investors started looking for places outside the U.S. to park their capital. One beneficiary? Japan. More foreign money flowed into Japanese stocks and bonds than ever before — about $50 billion worth. Also on this morning's show: a conversation about the value of the U.S. dollar and what happens if it loses its status as the reserve currency.

From the BBC World Service: Beijing has announced a 90-day pause of its tariff measures, which had banned dozens of American companies from trading with Chinese firms. Now, companies are rushing to ship products before that 90-day window closes. Plus, the Eurovision Song Contest is the world's biggest TV show. The annual event is taking place this week in Switzerland, with hundreds of thousands of fans already massing in the host city of Basel. We'll learn about the economic impact.

Because of crime-free housing ordinances, 1 in 4 Illinoisans live in rental properties that require them to sign a lease that says they could be evicted if accused of a crime – even a minor offense that isn’t prosecuted. A year-long investigation by the New York Times combed through police data and interviewed dozens of landlords and tenants to learn the effects of these laws. Reset learns more about these ordinances and hears about potential solutions with Illinois Answers Project reporter Sidnee King Pineda, and journalist Ben Austen. For a full archive of Reset interviews, head over to wbez.org/reset.

President Donald Trump talks a lot about wanting to build more stuff here in the U.S. But the future of manufacturing might not even be on earth, but in orbit.

It might sound kind of out there — or way out there — but space manufacturing is already happening on a small scale. There's a mini boom of companies looking to do more of it, according to recent reporting in Wired by journalist Jonathan O'Callaghan. He says space has some unique qualities that make it attractive for manufacturing.

Early estimates say the GOP’s tax bill will add $3.8 trillion in deficits over the next 10 years. (This, despite President Trump’s insistence on shrinking the national debt.) But amid economic instability caused by the trade war and federal spending cuts, will the bond market snap up all that government debt? Plus: What to look for in Thursday's producer price index, why moving manufacturing to the U.S. will be easier for some sectors than others and how grocery store generics became so popular.

 

In Illinois, it is illegal for any housing provider to deny a tenant solely based on how they pay for rent. And in Chicago, “source of income” is a protected class and allows alleged victims of discrimination to file complaints with the Chicago Commission on Human Relations. But new reporting from WBEZ finds that people are being discriminated against for using rental assistance, in spite of local laws aimed at preventing that. Reset digs into why landlords are rejecting Section 8 vouchers, and who is most impacted with WBEZ data projects editor Alden Loury and data intern Ashley Soriano. For a full archive of Reset interviews, head over to wbez.org/reset.

On today’s show, Kimberly continues to make us smart about the GOP’s massive tax bill. This time, we’re digging into a small (but important) detail buried in the bill that could have enormous consequences for the regulation of artificial intelligence: a clause that would block states from enforcing AI laws for ten years. We’ll break down what’s at stake. And, the U.S. dollar is getting weaker. We’ll explain what it could mean for the economy.

Here’s everything we talked about today:

• "House panel advances tax portion of Trump agenda bill after marathon meeting" from The Hill
• "State AI laws would be banned under clause buried in House budget bill" from Stat News
• "G.O.P. Targets a Medicaid Loophole Used by 49 States to Grab Federal Money" from The New York Times
• "US Is Not Negotiating for Weaker Dollar as Part of Tariff Talks" from Bloomberg

• "Republicans push for a decadelong ban on states regulating AI" from The Verge 

  
  

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The House's proposed tax plan includes a 5% tax on remittances. These are electronic transfers of money sent by people in the U.S. — often immigrants — to friends and family abroad. There are some exceptions to the tax, including most transfers made by U.S. citizens. We'll learn how this might play out. Also: a (sorta) stock market milestone, a crypto company in the S&P and a bill that could hurt renewables in Texas.

California regulators are allowing State Farm insurance to charge 17% more following this year's LA wildfires. State Farm says it needs the rate increase — on top of the 20% it got last year — because it’s in financial distress following the fires. But the issue of higher premiums goes well beyond California. We'll hear more, then learn why there are concerns about the U.S. dollar remaining the world's reserve currency.