Producer prices rise in April
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 14 May 2024
⏱️ 1 minutes
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Summary
Stocks rise; services prices push up Producer Price Index; Biden Administration announces new tariffs on certain Chinese imports; new tariffs could put pressure on prices.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. Stocks closed higher on Tuesday. The Dow |
| 0:07.4 | gain 3 tenths percent, the S&P rose half a percent, and the NASDAQ added |
| 0:12.0 | three quarters percent. |
| 0:13.0 | producer prices rose in April after falling in March. |
| 0:17.0 | They were up half a percent, according to the Labor Department. |
| 0:20.0 | Most of that was because services got more expensive, including portfolio management, equipment |
| 0:24.4 | wholesaling, and real estate services. |
| 0:27.6 | The Biden administration is imposing new tariffs on $18 billion worth of Chinese imports, including EVs, semiconductors, solar cells, and critical minerals. |
| 0:38.0 | E.V. tariffs will jump from 25 to 100 percent. Trade experts say a tariff that high is effectively a ban. |
| 0:45.6 | The Biden administration says the goal of the new tariffs is to confront what it considers |
| 0:49.2 | unfair policies and practices from the Chinese government, |
| 0:52.5 | but higher tariffs could contribute to inflation. |
| 0:55.5 | I'm Justin Ho with the Mark Placement. You're going to. |
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