What you need to know about tariffs
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 18 April 2024
⏱️ 20 minutes
🧾️ Download transcript
Summary
The Biden administration is aiming to triple tariffs on Chinese steel to protect U.S. manufacturers. Sound familiar? We’ll explain who is actually paying the price and what raising tariffs would mean for U.S. workers. We’ll also get into why economic data doesn’t always translate into how voters view the economy, especially in an election year. And, what the buzz over the popular animated series “Bluey” is all about.
Here’s everything we talked about today:
- “President Biden Gives Remarks on Labor Unions and Manufacturing Jobs in Pittsburgh” from C-SPAN
- “Biden vows to shield US steel industry by blocking Japanese merger and seeking new Chinese tariffs” from The Associated Press
- “Once again: Who pays for tariffs on Chinese steel?” from Marketplace
- “Fed Chair Powell delivers remarks at the Washington Forum on the Canadian economy” from CNBC
- “Fed Chair Jerome Powell Dials Back Expectations on Interest-Rate Cuts” from The Wall Street Journal
- “It’s getting harder to predict the economy’s effect on presidential elections” from Marketplace
- “Caitlin Clark Selected No. 1 Overall by the Indiana Fever” from ESPN
- “Wait, Caitlin Clark Is Only Getting Paid $76,000?” from The Wall Street Journal
- “Hall of Fame college coach Dawn Staley Reflects on the state of women’s basketball.” from NPR
- “Political advertisers worry about reaching sports fans streaming their games” from Marketplace
- Bluey “The Sign” Official Trailer
- “The Non-Parents’ Guide to Bluey” from Vulture
- “Is “Bluey” ending? “The Sign” explained — and the show’s future.” from Vox
Join us tomorrow for Economics on Tap! The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern. We’ll have news, drinks, and play a round of Half Full/Half Empty!
Transcript
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| 0:00.0 | Drew, save me. |
| 0:02.0 | I'm |
| 0:04.0 | Hello everyone, I'm Kimberly Adams. |
| 0:08.0 | Hello everyone, I'm Kimberly Adams. |
| 0:10.0 | Welcome back to Make Me Smart, where we make today make sense. |
| 0:12.0 | I'm Kyle Rizdahl. |
| 0:13.2 | Thank you for joining us on this Thursday, today April 18th. |
| 0:16.2 | I'm laughing because the micron just literally just bounced up and hit me in the face. |
| 0:19.1 | You're gonna have to watch that one on social. |
| 0:20.4 | I'm sorry. |
| 0:21.8 | Phew. Yeah, it really did jump up at you. |
| 0:25.0 | Anyway, today, it's Thursday, so we're going to listen back to some audio clips from some big news stories of the week. We've got some newsy stuff, some fun stuff. |
| 0:35.7 | Let's hear the first one. |
| 0:37.3 | Because Chinese steel companies produce a lot more steel than China needs, |
| 0:40.9 | it ends up dumping extra steel under the global markets and |
| 0:44.0 | unfairly low prices. And the prices are unfairly low because China's steel |
| 0:48.3 | companies don't need to worry about making a profit because the Chinese |
| 0:51.8 | government subsidize them so heavily. |
| 0:54.2 | They're not competing, they're cheating. |
| 0:57.2 | Yes, that was President Biden speaking in Pittsburgh yesterday at the |
| 1:00.9 | headquarters of the United Steel Workers Union about a little something that we've called |
| 1:06.7 | overcapacity which has been a big topic of discussion when Yellen was in China recently she was |
... |
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