Getting down to the nuts and bolts of the trade war
Marketplace Morning Report
Marketplace
4.5 • 927 Ratings
🗓️ 24 October 2025
⏱️ 8 minutes
🧾️ Download transcript
Summary
Small businesses are feeling the squeeze as tariffs and material costs climb. Rob Lehmann is the founder of Fair Wind Fasteners, a supplier of nuts, bolts, and screws. He explains how fluctuating import costs and trade policies are reshaping his operations. From sourcing metal to keeping prices steady for customers, we hear a firsthand view of what it takes to stay afloat in a volatile economy. Plus: President Trump said he is ending trade negotiations with Canada pardoned the founder of the Binance cryptocurrency exchange.
Transcript
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| 0:00.0 | At Pluralsight, we don't just teach skills. |
| 0:02.8 | We are building the tech workforce, who deliver results fast, accelerated by top-tier content. |
| 0:08.6 | Lead with confidence, lead with expertise. |
| 0:11.1 | Visit us at Pluralsight.com to tap in and learn more. |
| 0:16.5 | How one advertisement scuttled trade talks with Canada. |
| 0:21.6 | From Marketplace, I'm Sabri Beneshore, in for David Brancaccio. |
| 0:25.5 | President Trump said late last night that he is ending trade negotiations with Canada. |
| 0:30.1 | The president cited an ad from the province of Ontario, which features former President Ronald Reagan criticizing trade barriers. Marketplaces |
| 0:39.7 | Nancy Marshall-Genzor has more. In a social media post, President Trump says he's terminating |
| 0:44.9 | trade talks with Canada because of its, quote, egregious behavior. The ad from Ontario uses |
| 0:51.1 | soundbites from a 1987 Reagan radio address. |
| 0:54.9 | Reagan explains he's imposing some tariffs on Japan, but emphasizes he's doing so reluctantly |
| 1:00.7 | and says in the long run trade barriers hurt American workers and consumers. |
| 1:06.1 | High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars. |
| 1:13.2 | Then the worst happens. |
| 1:15.4 | Market shrink and collapse, businesses and industry shut down, and millions of people lose their jobs. |
| 1:22.1 | Trump quoted the Ronald Reagan Foundation as saying Canada used the ad fraudulently. |
| 1:27.3 | He called it fake. In a post on |
| 1:29.3 | X, the foundation says the Ontario ad misrepresents the radio dress. The audio in the ad is |
| 1:35.6 | genuine, but the sound bites were taken out of sequence and spliced together. Ontario's |
| 1:40.8 | premier, Doug Ford, is upset that Stalantis is planning to move production of its Jeep Compass from Ontario to Illinois. |
| 1:49.3 | I'm Nancy Marshall Genser for Marketplace. |
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