You've got questions about this economy. We've got answers!
Make Me Smart
Marketplace
4.6 • 5.4K Ratings
🗓️ 15 May 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
In today’s show, Kimber-Kai are answering your questions about all the wild things going on in the U.S. economy. Isn’t the 30% tariff rate on China still crazy high? And, how are local governments preparing for potential federal funding cuts? We’ll discuss how states are weighing their next moves, and how the “Trump Slump” has taken shape in California. Then, we’ll get into the Federal Reserve’s wait-and-see tariff strategy.
Here’s everything we talked about today:
- “State of U.S. Tariffs: May 12, 2025” from The Budget Lab at Yale
- “States, Cities Face Funding Collapse Threat With Trump Cuts” by Bloomberg
- “Higher prices or higher unemployment? The economy could face a no-win dilemma” by NBC News
Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.
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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. |
| 0:11.4 | Somebody turned up the headphones in my studio. It happens every now. |
| 0:17.8 | What, you don't want to hear me loud and clear? |
| 0:19.8 | Well, you're a little louder and clearer than usual. |
| 0:22.2 | I'm Kyle Rostall. |
| 0:22.8 | Thanks for joining us, everybody, Thursday, today, May 15th. |
| 0:26.4 | Questions from you, our listeners, on the pod today, about the wild things going on in this economy. |
| 0:33.2 | They are indeed wild things. |
| 0:35.9 | If you have a question that you want us to answer, you can email us, |
| 0:39.0 | Make Me Smart at Marketplace.org. |
| 0:41.2 | You can leave us a voicemail at 508. You be smart. |
| 0:44.5 | Let's hear the first question. |
| 0:46.8 | Hi, this is Pam calling from Dallas, Texas. |
| 0:50.9 | Maybe I'm crazy, but the news of the temporary slash and tariffs with China is still crazy high. |
| 0:58.2 | 30%. |
| 0:59.0 | I mean, I know it's not 145, but still. |
| 1:02.9 | Why aren't people talking about how consumers are still going to have to pay more regardless? |
| 1:07.6 | Pam, Pam, Pam, Pam, Pam. Let me suggest to you a little radio show that I know called Marketplace, where we've been talking about almost nothing except what these tariffs are going to do to consumers. So, look, in all seriousness, here's the deal. Yes, 30% is still crazy high. |
| 1:28.7 | It is, give or take 10 times as high as the tariff rate was on most things starting on January 20th. |
| 1:36.2 | So that's a problem. |
| 1:38.5 | The good news is that 30% is not 145%. |
| 1:43.9 | And there may be some wiggleish room. I don't know. I will tell you this, |
... |
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