Marketplace With Kai Ryssdal

More tariffs are on the way, this time targeting vehicle imports. President Donald Trump favors import taxes, partly because, he argues, they’ll help shrink the U.S. trade deficit. But if tariffs cut Americans’ spending on imports, foreigners are likely to cut their contribution to funding the U.S. budget deficit. Also on the show: BLS economists use not one but six different methods to measure unemployment, and organizational studies professor Elizabeth Popp Berman explains why university endowments can’t simply replace federal funding.

The latest reading marks the fourth straight month of declining consumer confidence, and it fell more than expected. How will the souring mood affect spending and the job market? Also in this episode: Political economist Mark Blyth discusses how President Trump might respond to a potential recession. Plus, why tariffs are making investors wary of the U.S. and a company claims to have a new way to make seawater drinkable.

The Donald Trump administration wants to strengthen U.S. manufacturing with tariffs on imported goods. We look at the latest purchasing managers report to see if new trade policies have made an impact. Also in this episode: Homeownership rates stall for Gen Z and millennials, shakeups at Fannie Mae and Freddie Mac, and Baltimore’s new Francis Scott Key Bridge design takes shape.

We’re tackling a “mysterious and important” question in today’s episode: Should Congress use “current policy” or “current law” baseline when measuring tax cuts? It’s not unlike our reporter’s internal struggle on whether to cancel Apple TV+ now that Season 2 of “Severance” has ended, or renew it. Except lawmakers are dealing with trillions of dollars. Plus: African immigrants fill critical home health aide roles in Texas, and The Conference Board’s Leading Economic Index falls for the third-straight month.

More tariffs are set to take effect April 2, and in most cases, American consumers and businesses will pay the tax. We’ll explain why some sectors expect prices to rise as soon as next month while others won’t feel a pinch until later in the year. Also in this episode: Tariffs could inflate the dollar’s strength while sapping demand for American exports, Gen Zers feel “trapped” by microtrends and Alaskan crude oil production is projected to jump in 2026.

Federal Reserve policymakers aren’t cutting interest rates right now, though they expect two rate cuts in 2025. When — and if — those cuts come will depend on how the trade war shakes out. In this episode, what static rates mean for consumers and businesses. Plus, more byproducts of tariff-driven economic uncertainty: bond spreads widen and export prices rise, particularly on agricultural products.

“Recession” recently peaked on Google Trends — a sure sign Americans are sweating the possibility of an economic downturn. But what do the numbers say? Well, the hard data so far reflects a pretty strong economy. But the soft, economic-vibes data, is … less optimistic. Plus: Government credits help Tesla and other EV-makers stay afloat, liquefied natural gas exports are slated to double in five years and advocates help young people who’ve aged out of foster care find resources.

About 8.9 million. That’s how many U.S. workers worked more than one job in February — an all-time high, according to the Bureau of Labor Statistics. We spoke with some workers holding multiple job about why this economy necessitates a second (or third) gig. Plus, economist Mohamed El-Erian on DOGE and recession odds, and we break down why the U.S. energy mix probably won’t change much under President Donald Trump.

Mortgage rates have fallen recently to 6.6% for a 30-year fixed. But will it be enough to bring prospective homebuyers off the sidelines? Not according to one survey, which found some buyers are holding out for rates below 5%. Also in this episode: The Trump administration cut USDA programs that allowed schools and food banks to buy fresh, local food. And the U.S. wants Chinese consumers to spend more, but that won’t be easy.

The U.S. Dollar Index has fallen sharply in the last few weeks, thanks largely to tariff flip-flopping and overall economic uncertainty. Typically, significant sustained changes in a currency’s value indicate the relative strength of a nation’s economy. Should we be worried? Also: New tariffs triggered a January import rush that will ding GDP, student loan borrowers are temporarily blocked from income-driven repayment plans and Amazon pulls back on its brick-and-mortar grocery biz.

Just 44% of employees feel confident about the next six months at their company, a Glassdoor survey found — the lowest in nine years. Thank government layoffs, tariff uncertainty and a toughening job market. Are these negative predictions warnings of a coming recession? Also in this episode, the overall cost of food at home was flat in February, electric grid battery storage grew 66% in the U.S. last year, and Angelenos worry dumped wildfire debris could be toxic.

Back in 2018 — the last time President Donald Trump led a trade war — some businesses got tariff exemptions if they imported goods that couldn’t be sourced in the U.S. Was the process to apply smooth and transparent? Well … no. Will today’s businesses have the same opportunity? That remains to be seen. Also in this episode: Home improvement stores launch AI helper bots, corporate forecasts aim low, and small businesses hesitate to hire.

Terri Bromberg lost her home of 20 years in the Los Angeles fires. Rather than rebuild, the artist and professor chose to sell and move elsewhere. Prospective buyers put in bids without being able to see the plot of land in person. In this episode, Bromberg and her real estate agent tell us about the process of selling in the Pacific Palisades since the wildfires. Plus: China announces retaliatory tariffs on some U.S. agricultural products, Americans lose confidence in their financial futures, and why Tesla’s stock price has slumped.

Overall employment dropped last month, according to the monthly jobs report from the Bureau of Labor Statistics. At the same time, employers added jobs to the economy. Weird, right? Well, two surveys make up the monthly report — one of households and one of employers. And they can disagree. Plus, more part-time workers want full-time jobs, Gap is on a roll, and professional basketball has become a game regulations.

The Federal Reserve may be steering the economy through another trade war. But this time, the inflation of the last few years complicates its task. Also in this episode: Unemployed Americans struggle to snag new positions, banks’ unrealized losses jump, and an aerospace tech startup sets up shop in Cumberland County, Tennessee.

Ask an economist what’s driving decision-making right now, and the answer may well be “uncertainty.” In this episode, the unpredictable environment fuels a range of change: The labor market softens, surveys of the service sector point in opposite directions and Treasury yields sink. Plus, the Commerce Department just dissolved two expert advisory groups, putting the trustworthiness of future federal data into question.

They’re here: President Donald Trump’s 25% tariffs on goods from Canada and Mexico begin today, as well as an additional 10% tax on goods from China. In this episode, we hear from business owners who are caught in the middle of trade policy chaos and explain why Texas is likely to suffer in particular. Plus, Forest Service layoffs devastate rural western mountain towns, and small warehouses are in demand but hard to come by.

As bird flu proliferates across U.S. farms, infecting chickens, cows and even humans, some public health experts worry that that funding to deal with it has been inadequate. Above all, they say we need stronger incentives for farmers and farmworkers to test for and report cases of the virus. Plus, the manufacturing sector’s outlook remains mixed, two-thirds of Americans say they have been victims of a financial scam and what could happen if we removed government spending from GDP calculations.

In the past decade, filming outside of Los Angeles has become a cost-effective option for many major studios. And lower housing costs are driving many lighting techs, grips and gaffers to follow. With roughly 13,000 homes lost in January’s wildfires, staying in LA will be even harder for those workers. Also on the show, the rising cost of utilities and a second act for frozen foods.

Capital goods orders picked up in January — that’s stuff businesses buy that’ll last a while, like tools and equipment. Is it a sign business owners have money to spend? Or, have tariffs fears and economic uncertainty spooked them into buying things before it’s too late? Also in this episode: Unemployment claims tick up (and that’s not even counting laid-off federal workers), architects stress fire resilience in rebuilding and used car prices rise.