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Marketplace All-in-One

How far will an additional $40 a month go?

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 12 January 2024

⏱️ 6 minutes

🧾️ Download transcript

Summary

A new Summer EBT program that provides an extra $40 per month per kid per month will feed millions of children over summer vacation. But with grocery prices high and still rising, that money can only go so far. Also on the show: The shockwaves of war in the Middle East expand, and the economy remains on the minds of Taiwanese voters.

Transcript

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0:00.0

As war in the Middle East expands, so do its economic shock waves.

0:06.0

From Marketplace, I'm Sabrie Benashore, in for David Brancaccio.

0:10.0

The war in the Middle East has widened.

0:12.0

The U.S. and Britain struck military bases across Yemen overnight in response to attacks on commercial ships in the Red Sea by Yemen's rebel Houthi group.

0:20.0

That spiral of retaliation continues to ripple out into the global economy.

0:25.0

The latest sign, Tesla, plans to pause production at a plant in Germany, citing supply chain delays caused by changes to shipping routes.

0:33.2

Marketplace's Henry Epp has more.

0:35.4

Tesla will stop producing most electric cars at its plant outside of Berlin for about two weeks

0:40.3

starting January 29th.

0:42.2

The company relies on components from Asia and in a

0:44.9

statement to Reuters Tesla says attacks on containerships in the Red Sea

0:48.6

mean those parts now have to instead travel around South Africa which takes a lot longer. The Red Sea

0:54.9

is the fastest shipping route between Asia and Europe but freight movement through

0:58.4

the region has dropped off significantly since Huthi rebels began attacking

1:02.4

commercial ships in the past few months.

1:04.4

Diverting freight to other routes has driven up shipping costs, which could put upward

1:08.5

pressure on inflation. For Tesla, pausing production in Germany is just the latest headache in the region.

1:14.8

It's also facing a strike and boycotts by labor unions across Scandinavia.

1:18.9

I'm Henry App for Marketplace.

1:21.9

When kids are out of school for the summer, they spend more time at home and more time eating there.

1:28.0

For low-income families, that is a significant added expense.

1:31.0

Well, this summer, millions of low-income American families will get

...

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