The new face of Trump’s tariffs plan
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 21 November 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
President-elect Donald Trump tapped Cantor Fitzgerald CEO Howard Lutnick as his choice for Secretary of Commerce this week. We’ll get into why the role could be critical to the incoming Trump administration, which has vowed to enact sweeping tariffs. Then, we’ll explain why earnings at big-box retailers like Target and Walmart have been mixed ahead of the holiday season, and how the Justice Department wants to shakeup Google’s monopoly over the online search market. Plus, why is Bitcoin on a record-breaking streak?
Here’s everything we talked about today:
- “Trump picks Lutnick to be Commerce secretary” from CNN
- “Who will lead the Commerce Department?” from Marketplace
- “Target’s Stock Plunges 21% on Weak Sales Ahead of Holiday Season” from The New York Times
- “A tale of two retailers: Target reports sluggish spending while Walmart has a stellar quarter” from The Associated Press
- “DOJ says Google must sell Chrome to crack open its search monopoly” from The Verge
- “Bitcoin hits fresh record, marches toward $100,000 as rally continues” from CNBC
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 | Hey, if you're listening to this, I will assume you're at least interested in money, |
| 0:04.5 | understanding the economy, and finances as well. |
| 0:07.0 | And some of us now want to get the next generation interested as well. |
| 0:10.6 | So check out Million Bazillion, Marketplace's award-winning kids podcast that breaks down money to help dollars make more sense. |
| 0:17.1 | Tune into Million Bazillion wherever you find your favorite podcast. |
| 0:20.0 | A whole new season is out now. |
| 0:22.4 | Million Billion is presented in partnership with Greenlight, the debit card and money app for kids and teens. |
| 0:27.0 | Greenlight helps kids and teens learn to earn, save, spend wisely, and invest. |
| 0:31.5 | When you sign up for a Greenlight account at greenlight.com slash million. |
| 0:36.3 | Shall we begin? |
| 0:38.4 | Yes. Yes. |
| 0:40.3 | Yes. |
| 0:44.3 | Hello, everyone. |
| 0:45.2 | I'm Kimberly Adams. |
| 0:46.1 | Welcome back to Make Me Smart, where we make, today makes sense. |
| 0:49.2 | I'm Kyle Risdolph Thursday, November 21. |
| 0:52.3 | Thanks to the... |
| 0:53.3 | Blit, bleb, ble, blah. Good to have you with us. How about that? |
| 0:55.7 | I'll just say that. Yeah. Today we're going to listen back to some of the big news stories of the week, |
| 1:00.7 | and there have been so many. We've got some audio clips lined up. Our first clip today is about |
| 1:05.4 | President-elect Trump's cabinet that's taking shape. Let's hear it. |
| 1:09.7 | I think commerce will be very important in a second Trump administration based in some part on how much Trump has made his tariff plan, really the central economic plank of his agenda. |
... |
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