Everyone talks about AI, but how are companies actually using it right now?

I'm David Brancaccio in Los Angeles. First, in what could be an acknowledgement that tariffs make life more expensive.

The Trump administration has announced first steps to lowering tariffs on four Central and South American countries.

These are not deals but outlines for deals.

Marketplaces Nancy Marshall-Genzor joins us now, Nancy.

Well, these agreements are with El Salvador, Argentina, Ecuador, and Guatemala.

The Trump administration says it'll remove reciprocal tariffs from certain products from these countries that can't be grown,

mined, or naturally produced in the U.S. in sufficient quantities. That appears to refer to things

like coffee and bananas. But the U.S. would apparently still charge a flat 10% tariff on most imports

from Argentina, Guatemala, and El Salvador, and a 15% duty on products from Ecuador.

So when a tariff goes down, do retail prices go down, for instance, at the supermarket?

Yes. If retailers pass the savings from lower tariffs on to consumers,

also, David, there doesn't appear to be anything in the agreement

with Argentina that would allow the U.S. to import more beef, which could push down prices.

President Trump did float that idea, but he got a lot of pushback from U.S. ranchers who said

increased imports would undercut them. All right. And beyond food, what are these new trade frameworks involved?

Yeah, all four countries have agreed not to impose digital services taxes, that is a tax on data from, say, meta or Google.

They also promised more protections on intellectual property rights, aligning them with international standards.

I mean, this is getting attention, Nancy, right?

Here, you and I are talking about this, but what is the time frame for lowering these tariffs?

Yeah, there is no deadline.

The White House just says they'll work to get the framework agreement signed in the coming weeks.

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