Marketplace Morning Report

U.S. tariffs against China have been cut from 145% to 30% as part of a new 90-day trade deal. This is still higher than when President Donald Trump assumed office and could result in higher consumer prices and lower corporate profits. Also: Student loans follow some borrowers into retirement. The number of student borrowers over 62 rose by 59% from 2017 to 2023, and older borrowers are twice as likely to default than their younger peers.

Transcribed - Published: 12 May 2025

From Apple to Audi, consumer goods companies have been reporting rising sales as consumers splurge on what they need before tariffs hit their pocketbooks. But that preemptive spending could cost consumers later down the line. Also on the show: $500 billion worth of goods are at stake in the temporary trade deal between the U.S. and China, and Trump administration policies have complicated the economic outlook for tribal nations.

Transcribed - Published: 12 May 2025

From the BBC World Service: There's been a thaw in U.S.-China relations, with a 90-day deal to ease their escalating trade war. Both sides say they’ll cut tariffs by 115% — a big step, given that the U.S. was charging 145% on some Chinese goods. Plus, U.S. President Donald Trump will start his first foreign visit with a three-day Middle East tour this week. The economy will be high on the agenda.

Transcribed - Published: 12 May 2025

Most consumers are a lot more hesitant to book vacations these days. At least that's what travel companies are telling us — Marriot, Hilton, Hyatt and a slew of airlines all cut revenue expectations for 2025. But one segment of the market is expected to remain strong: luxury travel. We'll hear more. But first: the details of the U.S.-U.K. trade deal and the impact of Bill Gates giving away $200 billion by 2045.

Transcribed - Published: 9 May 2025

The federal government will no longer track the cost of the most expensive disasters in the country. The National Oceanic and Atmospheric Administration will stop adding dollar damage tallies to its database of events that cause over $1 billion in damage. The move comes as billion-dollar disasters have become more frequent. Plus, as college-bound students look to decide where to go, we'll hear how colleges come up with the price of admission.

Transcribed - Published: 9 May 2025

From the BBC World Service: Yesterday, U.S. President Donald Trump unveiled an agreement that will reduce import taxes on some British cars and metals and open up the British market to some U.S. beef. Plus, China says its exports to the States fell by 21% in April compared to the previous year. And, the owner of Zara wants the EU to close a tax loophole that favors exporters of cheap goods into Europe.

Transcribed - Published: 9 May 2025

UnitedHealthcare is facing a lawsuit claiming it defrauded shareholders — by denying fewer claims but not warning ahead of time that its profits would decline. The nation’s largest health insurer has been under heightened scrutiny following the killing of its then-CEO in New York late last year. And later: President Donald Trump is expected to announce a trade deal with Britain, and consumer advocate Ralph Nader reflects on the drawbacks of going cashless.

Transcribed - Published: 8 May 2025

The "Marketplace Morning Report" team is cooking this morning. First, we hear from the CEO and founder of Beyond Good, a company known for its artisanal Madagascar vanilla and chocolate, about how tariffs are stirring up business. We also discover how import duties are riling the U.S. blueberry industry, which has a close relationship with processors and packagers in Canada. But first: why home prices and sizes are going down in some metro areas.

Transcribed - Published: 8 May 2025

From the BBC World Service: President Donald Trump is expected to announce a deal on tariffs with Britain later today. The agreement would be the first since sweeping tariffs were unveiled for dozens of America's trading partners. Plus, remember when a fire near London's Heathrow Airport threw worldwide air travel into chaos a few weeks back? Officials still don't know the cause. And, China is experiencing a shortage of qualified cosmetic surgery practitioners and clinics.

Transcribed - Published: 8 May 2025

And it’s looking like they won’t. As the Federal Reserve meets to determine the future of interest rates, don't hold your breath for any rate cuts. We'll give a preview of what to expect and hear about the added pressures the Fed is under given President Donald Trump's trade war. Plus, a handful of companies are responsible for major productivity growth, and Canadian truckers are being hit hard by tariffs.

Transcribed - Published: 7 May 2025

A PSA for those whose homes burnt in the LA-area wildfires earlier this year: If the insurance company writes a check, it comes with two names on it — the property owner's and the bank's. But the bank may keep interest earned on that insurance payout. Now, a California assemblyman is trying to change that. We'll check in. Also: China lowers interest rates, and fewer international students come to the States for higher education.

Transcribed - Published: 7 May 2025

From the BBC World Service: The Yemeni group started attacking shipping lanes around the Red Sea after the war in Gaza began. It's hoped the ceasefire will stop disruptions to major trade routes. Then, China and the U.S. are set to hold their first trade talks since sweeping tariffs were announced. Later: Spanish Prime Minister Pedro Sánchez on last week's massive power outage and former U.S. President Joe Biden on defense and international trade.

Transcribed - Published: 7 May 2025

Ford Motor Company reported first-quarter results yesterday and said it’s suspending financial guidance for the rest of this year because of uncertainty resulting from tariffs. We'll hear more. Plus, some companies in Mexico are recruiting recently deported migrants from the States. And the guardians of interest rates at the Federal Reserve meet today and tomorrow on what to do about an economy under stress. Will they be hawkish or dovish?

Transcribed - Published: 6 May 2025

On Wednesday, 133 Cardinals are expected in the Sistine Chapel to start choosing the next pope. And people worldwide are placing millions of dollars in bets over who they think will get the two-thirds majority required to become the Catholic Church’s next leader. Also on the show: OpenAI hits a roadblock in trying to become a for-profit company, and China's offering cash and more parental leave to encourage a baby bump.

Transcribed - Published: 6 May 2025

From the BBC World Service: DoorDash is paying $3.8 billion to take over U.K. food delivery app Deliveroo as it looks to gain a footing in the market there. Elsewhere, Germany's DAX is down 2% after the leader of Germany's conservative party, Friedrich Merz, unexpectedly failed to win the parliamentary majority needed to become chancellor, New Zealand's prime minister wants to keep kids off social media and some businesses in Mexico are hiring English-speaking deportees.

Transcribed - Published: 6 May 2025

It’s been almost a month since President Donald Trump announced 145% tariffs on all Chinese goods. One of the places we’re starting to see the impact of that announcement is at U.S. ports. Almost as soon as Trump raised tariffs on China, U.S. importers started canceling orders. And it could lead to a major supply chain shock. Also: tariffs on international films and strategies for older adults to work down credit card debt.

Transcribed - Published: 5 May 2025

Warren Buffett is stepping down as CEO of Berkshire Hathaway after 60 years, though he'll still stay on as chairman. The legendary investor, age 94, announced at Berkshire Hathaway's annual shareholder meeting in Omaha, Nebraska. We'll hear more. And later: Have you ever wanted to spend your days with seals, sea lions and turtles? Today, we'll chat with an aquatic veterinarian who does just that, as part of our series "What's That Like?"

Transcribed - Published: 5 May 2025

From the BBC World Service: U.S. President Donald Trump says he will hit movies made in foreign countries with 100% tariffs, as he ramps up trade disputes with nations across the globe. Plus, Skype will officially stop operating today, although Skype for Business will continue. And the Maldives has signed a deal with a Dubai-based company to establish an $8.8 billion investment zone aimed at diversifying the tourism hotspot into a "financial freezone."

Transcribed - Published: 5 May 2025

The U.S. Department of Education will begin taking action against federal student loan borrowers who are in default starting on Monday. The Treasury Department could soon start withholding money from government payments like tax refunds and Social Security payments or even garnish wages. Plus, we'll digest this morning's jobs report. And later: Ryan Coogler's "Sinners" is a masterpiece in filmmaking — and in dealmaking. We'll unpack Coogler's deal with studios.

Transcribed - Published: 2 May 2025

We'll get the big hiring and unemployment reports for April later this morning. Companies have been tightening their belts as they've been grappling with tariffs and economic uncertainty. We'll discuss. We'll also hear how two small businesses that rely on imports are navigating a tricky tariff landscape. Also, the Trump administration wants to make it easier to fire federal workers. What could that mean for the Bureau of Labor Statistics?

Transcribed - Published: 2 May 2025

From the BBC World Service: Australians go to the polls this weekend to vote in what’s being called a “cost of living” election. Home prices and rents there have skyrocketed over recent years. Then, Japan's top negotiator says talks in Washington have been constructive as Tokyo tries to avoid steep new tariffs. And the luxury department store Harrods is the latest U.K. retailer to be targeted in a cyberattack.

Transcribed - Published: 2 May 2025

The stock market has been a bit of a roller coaster over the past month. For stock investors who don't need their money now, perhaps it’s no big deal. But if you're eyeing retirement in the near term, what questions should you be asking yourself? We'll discuss with Pam Krueger, host of the PBS personal finance show, “MoneyTrack.” Plus: why Starbucks is letting an algorithm decide the order in which drinks get made.

Transcribed - Published: 1 May 2025

But times are not normal. New data shows pending home sales are down year over year in most of the country, with the exception of the Midwest. Lack of affordability is a huge issue, but so is uncertainty about the future. Also: stock futures are pointing up this morning after rosy results from tech companies, and why President Donald Trump's tariff policy is the "greatest act of geopolitical self-harm" one political scientist has ever seen.

Transcribed - Published: 1 May 2025

From the BBC World Service: After months of fraught negotiations, the U.S. has signed a deal with Kyiv to share profits from the future sale of Ukraine's mineral and energy reserves. Plus, Facebook's parent company says its users could face a "materially worse" experience after a major regulatory blow from the European Commission. We'll also visit a huge wholesale market to see how businesses in China are faring amid the trade war.

Transcribed - Published: 1 May 2025

Gross domestic product shrunk 0.3% from January to March — the first growthless quarter since the pandemic recovery in early 2022. The cause? All the buying up that businesses and consumers did to beat tariff-induced price increases. We'll parse the data. Plus, Stellantis suspends 2025 guidance, Amazon backs away from transparency about the cost of tariffs, and the United Kingdom clamps down on a tax loophole for the rich.

Transcribed - Published: 30 April 2025

Amazon backtracked yesterday after reporting revealed the company was planning to display how much tariffs were raising prices on individual items and the White House angrily pushed back. Other companies, including Temu and Volkswagen, are being upfront with customers about tariffs’ impact on product prices. We'll hear more. Also on the show: factory activity falls in China, and a view of the economy before Donald Trump took office and 100 days into his second term.

Transcribed - Published: 30 April 2025

From the BBC World Service: New data shows China's manufacturing activity took a sharp dip in April — a sign that the ongoing trade war with the U.S. is starting to bite. Then, President Donald Trump signed an executive order to slash import duties on car parts in a short-term move to help U/S/ automakers. Plus, the U.K. is scrapping a centuries-old tax perk that lets wealthy foreigners shield their global assets.

Transcribed - Published: 30 April 2025

For many in Canada, trade policy and the rhetoric of a leader south of the Canadian border were front of mind when heading to the polls. Kimberly Adams went to polling places in the province of Ontario yesterday to hear more. Today, we'll learn what Canadian voters had to say. Also: DoorDash wants to buy U.K.-based Deliveroo, and Amazon launches an effort to compete with SpaceX’s Starlink satellite system.

Transcribed - Published: 29 April 2025

For President Donald Trump's 100th day back at the White House, we’re checking in on the cost-cutting efforts of Elon Musk's Department of Government Efficiency, or DOGE. It claims $150 billion in savings from layoffs, canceled government contracts and shuttered agencies. Analysts dispute that number, and it's far short of what Musk had promised. And later: The president is set to give automakers a break on some tariffs.

Transcribed - Published: 29 April 2025

From the BBC World Service: After claiming victory in Canada's election, Prime Minister Mark Carney has strong words for the Trump administration. We'll hear what he has to say and unpack the role that antagonism from the U.S. president played in the election. Plus, what does Carney's win mean for Canada's economic relationship with the States? Meanwhile, energy giant BP faces new pressure from investors to pivot back to fossil fuels.

Transcribed - Published: 29 April 2025

Beyoncé’s Cowboy Carter tour kicks off tonight in Los Angeles. So far, tickets for the tour are cheaper and easier to get ahold of than during Beyoncé's 2023 Renaissance tour. That's probably less a reflection on Queen Bey and more that feelings of economic uncertainty are replacing post-pandemic revenge-spending habits. We'll hear more. Plus: a drop in cargo ships from China and dealing with debt in your golden years.

Transcribed - Published: 28 April 2025

Tomorrow marks 100 days of President Donald Trump's second term in office. We're taking a look this week at what this new administration has meant for the U.S. and global economies. We start today by chatting with Zanny Minton Beddoes, editor-in-chief of The Economist Magazine. And later: Tariffs have been used before by countries around the world to attempt to revitalize domestic industrialization. What can we learn from revisiting that history?

Transcribed - Published: 28 April 2025

From the BBC World Service: From rising prices to falling trade volumes, the impact of radical new U.S. trade policies is starting to filter through. But China says it's still “fully confident” it will achieve its target of roughly 5% economic growth this year, despite the escalating trade tensions. Also, global airline revenues are expected to top $1 trillion for the first time this year — thanks, in part, to pesky fees.

Transcribed - Published: 28 April 2025

The Trump administration hopes that tariffs will encourage more products to be made in America. But a new report out this week also says the president's tariffs will be an effective tax increase, with low-income consumers hit the hardest. We'll unpack. Plus, by one analysis, California's economy is now the fourth largest in the world. And later: how the Trump administration is pushing the limits of authority over independent agencies.

Transcribed - Published: 25 April 2025

In the months since President Donald Trump's re-election, a lot has changed between the United States and Canada. New import taxes and talk of Canada becoming the 51st state, for example. It all adds up to a strained relationship where Canadians feel both betrayed and uncertain about the future. Today, we're visiting Thunder Bay, Ontario to hear more. Plus, we're looking at why more farmers are struggling to pay back their debt.

Transcribed - Published: 25 April 2025

From the BBC World Service: The U.K.'s Post Office continues to pay millions of dollars to use the bug-ridden Horizon IT system, whose failings resulted in hundreds of wrongful fraud convictions. We'll unpack why the Post Office has failed to switch systems yet. Then, India revokes visas and Pakistan halts trade after a deadly attack in Indian-administered Kashmir. Plus, we'll examine the rise in the price of gold.

Transcribed - Published: 25 April 2025

Scientists say they have developed a way to measure how much liability individual corporations have for the economic damage caused by climate change. The total cost over decades is calculated at $28 trillion, with 10 fossil fuel companies responsible for more than half of that amount. Plus, we'll read between the lines of the Federal Reserve's Beige Book and hear how a Baltimore community college is rising to meet a hunger for welders.

Transcribed - Published: 24 April 2025

The government has moved to give immigration officials access to IRS records. The Trump administration wants to use tax information to find people under deportation orders or who have committed crimes. Critics say this move is illegal and could cost the government tens of billions of dollars in tax revenue. Also on the show: international tourism declines in the U.S. and how tariffs are shaping the toy biz.

Transcribed - Published: 24 April 2025

From the BBC World Service: Australia is planning to stockpile minerals like lithium, nickel and cobalt, which are vital in modern technology. It comes as countries like the United States aim to counter China's dominance in global processing capabilities. Then, the United Kingdom is closing a tax loophole used by Chinese retail giants Shein and Temu to help keep prices low. And later: a trip to Shanghai's motor.

Transcribed - Published: 24 April 2025

The stock market is open with wind at its back. The Dow is up 2.8%, the S&P 500 is up 3.3%, and the Nasdaq is 4.1%. Market participants attribute this to President Doanld Trump saying he's not going to fire Federal Reserve Chair Jerome Powell. What should we make of this all? Also on the show: a look at Tesla stock movements and an idea to spur spending among China's retirees.

Transcribed - Published: 23 April 2025

There's no way of sugar-coating it: The numbers from Tesla’s first quarter results were quite bad. That's unsurprising considering the blowback and protests at Tesla dealerships resulting from Elon Musk’s cost-cutting work with DOGE within the Trump administration. Auto sales were down 20%, and profits were down a whopping 70%. Plus, consumer-oriented brands struggle to predict their outlooks amid consumer jitters, and new home construction faces headwinds.

Transcribed - Published: 23 April 2025

From the BBC World Service: The International Monetary Fund has cut its prediction for global economic growth from 3.3% to 2.8%. In its assessment, it describes President Donald Trump's tariffs as “a major negative shock to growth." Then, China is trying to stimulate its domestic consumption. One idea? "Silver trains." Designed for older people, and offering cocktails and karaoke, these tourism initiatives encourage retirees to travel more inside China.

Transcribed - Published: 23 April 2025

As the market for electric vehicles matures in the United States, sales of used EVs are climbing. They grew 39% year-over-year in March, according to data from Cox Automotive. Today, we hear how a used EV dealership in New Hampshire has experienced growth — and navigated market swings. And later in today's program: why a California public public school district is offering an elite athletic training program.

Transcribed - Published: 22 April 2025

The Department of Health and Human Services has stopped the flow of money designated by Congress to protect immigrant children from exploitation. Layoffs have hit legal aid groups across the country that help the tens of thousands of unaccompanied minors who cross the U.S.-Mexico border and are especially vulnerable to forced labor. We'll hear more. But first: hefty tariffs on solar panel parts and DHL's pause on certain shipments to U.S. consumers.

Transcribed - Published: 22 April 2025

From the BBC World Service: Sky-high tariffs on Chinese goods arriving at the U.S. border are already having a knock-on effect for many companies. Many manufacturers in China are in a state of limbo, having to warehouse stock and hoping for a more favorable trade deal eventually. Meanwhile, the international diamond trade is keeping a close eye on India, where U.S. Vice President JD Vance has been talking trade with Prime Minister Narendra Modi.

Transcribed - Published: 22 April 2025

The U.S. dollar is down more than 1% this morning. It may be a sign that investors globally are wondering if our currency is still as safe as they once thought, given President Donald Trump’s trade wars and his threats to the independence of the Federal Reserve. We'll dig in. Plus, Capital One and Discover are set to merge, and we'll look at how debts can weigh on older Americans.

Transcribed - Published: 21 April 2025

When the Food and Drug Administration determined there was a shortage of weight-loss drugs like Ozempic and Wegovy, it allowed compounding pharmacies to step in and make them. But the shortage is officially over, meaning many of these pharmacies have to stop selling their own versions of these drugs starting tomorrow. We'll hear more. Plus, a developer shares how he plans to rebuild his Altadena home with fireproofing in mind.

Transcribed - Published: 21 April 2025

From the BBC World Service: China has warned that it will hit back at countries that make deals with the U.S., which it fears will hurt Beijing's interests. It's a sign that the trade war between the world's two biggest economies threatens to drag in other nations. What does this all mean? And we also learn about the economics of carpet-weaving, one of the only jobs women in Afghanistan are now allowed to do.

Transcribed - Published: 21 April 2025

Stop us if you’ve heard this before: We’re in an unprecedented economic moment. But this time really is different. America’s place in the global economy is shifting, and what happens next is going to matter for businesses, consumers and you. This special Marketplace broadcast, hosted by Kai Ryssdal, is focused on helping you understand the scale and scope of the economic change in real time. Here’s what you’ll hear: Kai interviews experts about what happens when investors and businesses can’t plan, the relationship between tariffs and the return of manufacturing, and what we should think about employment going forward. On-the-ground stories from small businesses in Pennsylvania, Tennessee, Washington state, California and Iowa. Reporting from Sabri Ben-Achour, Justin Ho and Kristin Schwab on global trade without the United States, recession forecasting, and the industry that may experience the most tariff pain. Listener questions about the bond market, tariff revenue, the role of the U.S. dollar, global confidence and much more. We count on you, our listeners, to help cover the cost of the reporting that you rely on. If you can, please donate to help keep Marketplace free and accessible for all.

Transcribed - Published: 20 April 2025

It's the law that insurance companies have to cover the costs of certain screenings for cancer, diabetes, infectious diseases and more. Patients could soon have to pick up more of the tab, however, if the Supreme Court sides with two Texas businesses. And later: Ukraine says it's signed a memorandum of intent to sell minerals to the U.S., and sportswear brands are cashing in on running's growing popularity.

Transcribed - Published: 18 April 2025