The tea on tariffs
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 15 July 2025
⏱️ 10 minutes
🧾️ Download transcript
Summary
New tariff threats are piling up. The president has threatened higher tariffs on goods from the EU and on anyone who trades with Russia. The EU is preparing retaliatory tariffs in response. Stuck in the middle of this tariff whirlwind are small businesses. Today, we check in with the owner of a Virginia tea shop to discover how her store is faring. But first, this morning's consumer price index shows accelerating price increases. Plus, from Marketplace’s “The Age of Work” series, we hear a story about aging and one family business in London.
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, 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 Bazillion 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. When you sign up for a Greenlight account at greenlight.com slash million. |
| 0:36.9 | Putting the tea in tariff. |
| 0:40.0 | From Marketplace, I'm Sabri Beneshore, in for David Brancaccio. |
| 0:43.5 | First, a look at inflation. |
| 0:45.1 | The consumer price index is out this morning, and it shows price increases are accelerating. |
| 0:50.6 | Prices overall in the economy rose 3 tenths of a percent in June. |
| 0:53.9 | That is up from 1 tenth in May. Core inflation, that's when you take out food and energy, rose 2.9 percent year-over-year. That's up from 2.6 percent the month before. |
| 1:03.4 | Ernie Tedeski is Director of Economics at the Budget Lab at Yale and joins us to talk about it. Good morning, Ernie. Good morning. How are you? Hanging in there. |
| 1:11.4 | So according to Inflation Insights, core goods prices, if you take out automobiles increased by almost |
| 1:16.6 | six-tenths of a percent, that's the biggest monthly increase since November of 2021. |
| 1:21.8 | Is this tariffs? Is this what we're seeing here? |
| 1:24.0 | It probably is at this point. So when you dig into especially the commodity part of CPI, so think of appliances, |
| 1:33.1 | electronics, furniture, that sort of thing, you're starting to see much more clear price increases |
| 1:41.1 | than we have in the past. |
| 1:43.0 | So if we are seeing tariffs start to hit, |
| 1:47.9 | what can we expect in the next few months? Like how much more do you think there is to go here? |
... |
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