Ports showing the impact of Trump's tariffs
Marketplace Morning Report
American Public Media
4.5 • 808 Ratings
🗓️ 5 May 2025
⏱️ 7 minutes
🧾️ Download transcript
Summary
It’s been almost a month since President Donald Trump announced 145% tariffs on all Chinese goods. One of the places we’re starting to see the impact of that announcement is at U.S. ports. Almost as soon as Trump raised tariffs on China, U.S. importers started canceling orders. And it could lead to a major supply chain shock. Also: tariffs on international films and strategies for older adults to work down credit card debt.
Transcript
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| 0:00.0 | The tariffs are coming for movies now. |
| 0:04.9 | From Marketplace, I'm Sabri Beneshore, in for David Brancaccio. |
| 0:08.2 | President Donald Trump wants to institute a 100% tariff on films made outside of the United States. |
| 0:15.2 | He made the announcement on Truth Social yesterday, ordering his administration to figure out how to tax something that is not a physical good. |
| 0:23.0 | Marketplace's Nova Sappho has more. |
| 0:24.6 | There are a lot of questions about President Trump's film tariffs. For one thing, he appears to want import taxes on films, but not TV series. He only referenced movies in his post and in subsequent comments to reporters. |
| 0:43.1 | We don't know how long it will take to implement the tariffs or how value will be calculated and taxed. |
| 0:51.2 | What we do know is that the President is aiming at the financial incentives other countries offer to lure film and TV production. |
| 0:53.4 | Those incentives have worked. |
| 0:56.0 | A lot of production has moved to Canada, the UK, Australia, and TV production. Those incentives have worked. A lot of production has moved to Canada, |
| 1:02.1 | the UK, Australia, and New Zealand, among other places. Los Angeles area film production fell nearly 6% last year, its second least productive year after 2020, according to film L.A. |
| 1:08.6 | The state of California is exploring ramping up its own tax incentives |
| 1:12.4 | to better compete. I'm Novosafo for Marketplace. It has now been almost a month since President |
| 1:20.1 | Trump announced he was raising import taxes on all Chinese goods to 145%. That was back on April 9th. And the consequences are starting to show up. |
| 1:30.9 | One place you can see them is at U.S. ports. Marketplaces, Samantha Fields, has more. |
| 1:36.5 | Almost as soon as Trump raised tariffs on China, U.S. importers started canceling orders. |
| 1:41.9 | James Knightley, chief international economist at ING, says cargo ships that left |
| 1:46.3 | China after that date are much emptier, and there are many fewer of them. |
| 1:50.9 | Given it takes about 20 to 30 days to arrive across the Pacific, we could be seeing the drop-off |
| 1:56.6 | in arrivals coming through this week. It'll likely be at least a few more weeks before goods |
| 2:01.7 | from those ships make it onto shelves. There is real concerns as we approach the summer, |
| 2:06.7 | you could see some shortages of products in the shops. Shortages and higher prices for almost |
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