So, about that U.S.-UK trade "deal"
Make Me Smart
Marketplace
4.6 • 5.5K Ratings
🗓️ 8 May 2025
⏱️ 16 minutes
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Summary
Following Trump’s so-called “Liberation Day” tariffs, the United States has now struck a trade deal (sorta) with the United Kingdom. We’ll get into it. Plus, childcare costs a lot – and in some places, more than rent. Then, we’ll smile at the unexpected joy of “swole culture.” And what if, instead of sports metaphors, we used makeup lingo at work?
Here’s everything we talked about today:
- “Trump unveils United Kingdom trade deal, first since 'reciprocal' tariff pause” by CNBC
- “U.S., Britain strike first major trade deal of Trump tariff era” by Axios
- “Sending 2 Kids to Daycare Costs More Than Rent in Most Major U.S. Metros” from Redfin
- “Head Start avoids Trump’s cuts, but advocates are ready to defend it: ‘There’s too much good in this’” by The Guardian
- LISTEN: “Will you be my nanny?” from “This Is Uncomfortable”
- “Life of the Mother” by ProPublica
- “Finding Strength in a Bigger Body” from The Cut
- “How one writer quit dieting and discovered her strength through weightlifting” by NPR
Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.
Transcript
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| 0:00.0 | Hello, everyone. I'm Kimberly Adams. Welcome back to Make Me Smart, where we make today makes sense. |
| 0:12.3 | And I am Rie Mae McRais. I'm in for Kai Rizdal. Thanks everyone for listening. Today is Thursday, May 8th. |
| 0:18.5 | And we're going to unpack some clips from this week's news today. |
| 0:21.7 | And then we'll do some smiles because we all know we need them. |
| 0:26.0 | Yes, we do. |
| 0:27.2 | So first up, we have tariffs because why not? |
| 0:30.9 | Let's talk tariffs, right? |
| 0:31.8 | These days. |
| 0:34.1 | When President Trump put a pause on a lot of these so-called Liberation Day tariffs, his administration promised that there would be something like 90 deals in 90 days with other countries because the idea was we're going to put these like wild tariffs on and everyone's going to come crawling to us for a deal. And so today, he |
| 0:55.9 | actually announced sort of the first new trade deal. This one with the UK. Here's Commerce |
| 1:03.0 | Secretary Howard Lutnik talking about it in the Oval Office this morning. |
| 1:06.6 | We feel really good about the deal. You've heard the prime minister, he feels really good about the deal, right? |
| 1:12.0 | And we started at 10%, and we ended at 10%. |
| 1:15.1 | And the market for America is better. |
| 1:18.0 | And this is a perfect example of why Donald Trump produced Liberation Day. |
| 1:25.0 | So the reason I said a sort of deal is because the deal is not signed yet. |
| 1:31.5 | What was announced was the outline of a trade agreement with the U.K. |
| 1:35.5 | But some of the details that we know so far is that, yes, there is still a 10% blanket tariff on the U.K. imports that's going to stay in place. |
| 1:44.4 | But the auto tariffs are going to be adjusted so that the first 100,000 vehicles imported |
| 1:50.3 | from the UK, from British car manufacturers are going to be subject to that 10% rate, and |
| 1:56.3 | then additional vehicles beyond that are going to face 25% rates. |
| 2:06.5 | The UK has supposedly agreed to create more opportunities for U.S. farmers and producers to allow them to export things like ethanol, beef, and other agricultural products. |
... |
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