RadCasts

New tariff threats are piling up. The president has threatened higher tariffs on goods from the EU and on anyone who trades with Russia. The EU is preparing retaliatory tariffs in response. Stuck in the middle of this tariff whirlwind are small businesses. Today, we check in with the owner of a Virginia tea shop to discover how her store is faring. But first, this morning's consumer price index shows accelerating price increases. Plus, from Marketplace’s “The Age of Work” series, we hear a story about aging and one family business in London.

The Texas economy is among the most vulnerable in the country when it comes to the threat of escalating tariffs. While much of the focus has been on trade with Mexico due to tightly integrated supply chains, the future of European trade with Texas is also uncertain. We'll hear what's at stake. Plus, Nvidia can sell chips in China again, and, from Marketplace's "How We Survive," we'll learn what the big tax cut and spending law means for the climate crisis.

State Farm will raise home insurance premiums for new and current Illinois customers starting mid-July, saying it’s getting too expensive. In 2024, the company said it paid out more in claims than it collected in premiums. Illinois residents will see an average increase of 27%. Reset hears how this could affect residents, with Nedra Sims-Fears, executive director of the Greater Chatham Initiative, and Kaila Lariviere, manager of Chicago’s Office of Emergency Management and Communications. For a full archive of Reset interviews, head over to wbez.org/reset.

From the BBC World Service: President Donald Trump says he backs NATO now that countries in the military alliance boosted funding. The president's comments are part of a wide-ranging exclusive interview with the BBC and follow a threat of tariffs for Russia if there's no ceasefire with Ukraine in 50 days. We'll hear a bit of the conversation. Then, China's economy has outpaced expectations despite pressure from tariffs, and Tesla is set to launch operations in India.