The issuance of corporate bonds has slowed to a crawl, thanks to all that uncertainty in the economy. And without raising money in the bond market, firms may pull back on long-term investments. Also in this episode: The Democratic Republic of the Congo extends its ban on cobalt exports to raise prices, strains in the bar and restaurant business lead to closures and we answer listener questions on trade policy.

You may be wondering whether the prices of your go-to products, from avocados to smartphones, will be raised by tariffs in the coming weeks. We hear you! On the show today, Martha Gimbel, executive director of the Budget Lab at Yale, gives us a broad view of the tariff landscape, how the prices of certain consumer goods could change, and how Trump’s trade agenda could impact the American economy in the long run. Plus, why a trade deficit isn’t necessarily a bad thing.

Then, we’ll smile about the joy of listening to kids learn to talk. And, Carrie Lane, author of “More Than Pretty Boxes: How the Rise of Professional Organizing Shows Us the Way We Work Isn’t Working,” answers the Make Me Smart question.

Here’s everything we talked about today:

• "Tariffs on China set to rise to at least 104% on Wednesday, White House says" from CNN Business




• "Stock Market Today: Dow, S&P 500 Swing Wildly; Trump Threatens More China Tariffs" from The Wall Street Journal




• "What is the status of the Trump administration's tariffs?" from Marketplace




• "Where We Stand: The Fiscal, Economic, and Distributional Effects of All U.S. Tariffs Enacted in 2025 Through April 2" from The Budget Lab at Yale




• "Trump Tariff Tracker" from the Atlantic Council

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

From the BBC World Service: Stock markets across Asia, Europe and Australia have continued to plummet as the shockwaves from President Donald Trump’s tariffs reverberate around the world. Markets were in the red, and no sectors were spared in Asia’s major sell-off. Plus, European trade ministers are meeting to work out a response to the new duties imposed by the U.S. Will they opt for retaliatory tariffs?

On today’s episode, Kai Ryssdal and Kimberly Adams discuss the Donald Trump administration’s disregard for the courts. The White House has ignored a judge’s order to turn around a pair of deportation flights and failed to rehire federal workers. A constitutional crisis has arrived. Plus, get ready for a three-bleep Kai rant. And how anime helps explain the GOP’s attempt to get around the real cost of its $4 trillion tax cut.

Here’s everything we talked about today:

• “Black War Hero’s Medal of Honor Page Deleted by Pentagon” from Newsweek




• “Donald Trump Is Itching for a Legal Showdown Over Deportations” by Vanity Fair




• “What court orders? Trump’s moving full steam ahead to slash more federal workers” from Politico




• “Exclusive: How the White House ignored a judge’s order to turn back deportation flights” from Axios




• “Trump admin live updates: Border czar says ‘I don’t care what the judges think’” by ABC News




• “Crematory horrors spur Maryland lawmakers to push for reform” by The Washington Post




• “A Congresswoman with Dementia Stopped Coming to Work. The DC Press Corps Never Noticed.” by Politico




• “The Budget Trick the G.O.P. Might Use to Make a $4 Trillion Tax Cut Look Free” by The New York Times




• @bbkogan.bsky.social on Bluesky




• “Republicans press for change in how CBO tallies cost of legislation” from Marketplace

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

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.

The S&P 500 index briefly went into correction territory last week. Investors are concerned about the Trump administration’s economic policies, but Treasury Secretary Scott Bessent argues that corrections are “healthy.” But is this a healthy correction-to-be? We’ll hear more from Julia Coronado, president and founder of MacroPolicy Perspectives. Also on the program: why investors are turning to gold and how Nissan’s self-driving technology is navigating Britain’s twisty, medieval roads.

For decades, importers and exporters have leaned into what’s called “just-in-time” logistics — only order what you need only when you need it. But the ongoing trade war has upended that model, forcing businesses to stock up in case tariffs make the global supply chain increasingly unpredictable. Plus, companies offering child care may have a leg up over the competition. What are some of the benefits and drawbacks?

From the BBC World Service: China’s leaders have announced a “special action plan” to try and offset the impact of U.S. trade tariffs and boost domestic spending. And a city in northern China is offering families with two children massive financial incentives to have a third over concerns about the country’s rapidly aging population. Also, carmaker Nissan has finished the latest stage of an eight-year project to develop technology for self-driving cars.

Back when the pandemic first hit, many students received tablets or laptops from their schools. Schools also wanted to know what students were doing on those devices, so demand for AI-powered software to monitor students’ digital activities also grew. That surveillance software is the subject of a new investigation from the Associated Press andTthe Seattle Times, whic Claire Bryan coauthored. Marketplace’s Stephanie Hughes asked her what sort of things this surveillance software might flag.

A Republican-written spending bill is being backed by some Senate Democrats, including Senate Minority Leader Chuck Schumer, to avoid a government shutdown. Other Democrats — and much of the voter base — aren’t happy. We’ll get into it. Then, we’ll close out the week with a round of Half Full/Half Empty, weighing in on Southwest Airlines’ new checked bag policy and $19 strawberries. Plus, in the wake of a certain duchess’ foray into television, what are your thoughts on celeb cooking shows?

Here’s everything we talked about today:

• “The Siberian Bone Hunters Diving for Ice Age Mammoth Fossils” from The New York Times




• “Dr. Oz, with a TV host’s flair, promises simple solutions for America’s health care ills” by Politico




• “Schumer Under Fire as Pelosi and Other Democrats Criticize Shutdown Retreat” from The New York Times




• “Half-Past Four is the New Five O’Clock in More Efficient Workday” from Bloomberg




• “5 Takeaways From Meghan Markle’s Netflix Show ‘With Love, Meghan’” from The New York Times




• “Why does the viral Erewhon strawberry cost $19?” from Marketplace




• “Southwest Airlines is charging for checked bags. Will loyal flyers stick around?” from USA Today

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

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.

Real estate accounts for 18% GDP and each home sale generates two jobs. It’s a top priority for state officials and business leaders across the country to build stable communities. In Minnesota, efforts to address inequity that keeps people locked out of the property market are well-advanced. Lee sits down to interview those directly involved.

This special episode comes from “Unlocking the Gates,” a new collaboration from Marketplace and APM Studios. 

Racial covenants along with violence, hostility and coercion played an outsized role in keeping non-white families out of sought-after suburbs. Lee learns how these practices became national policy after endorsement by the state’s wealthy business owners and powerful politicians.

This special episode comes from “Unlocking the Gates,” a new collaboration from Marketplace and APM Studios. 

Rising demand for electricity, largely to power the artificial intelligence boom, has stirred a resurgence in nuclear energy. Older plants like Three Mile Island in Pennsylvania are being brought out of retirement, but there’s also investment in smaller-scale reactors with different designs. The fresh interest in nuclear generation has also renewed discussion about how to build these facilities ethically, in other words, with an approach that’s sensitive to the needs of the community and the world at large. Marketplace’s Meghan McCarty Carino spoke with Aditi Verma, assistant professor of nuclear engineering at the University of Michigan, who co-created an undergrad course about ethically designing modern nuclear facilities. Verma discussed her effort to train young engineers to transform the industry.

For some engineers, it’s also renewed a discussion about how to build these facilities ethically. Marketplace’s Meghan McCarty Carino spoke with Aditi Verma, professor of nuclear engineering at the University of Michigan who co-created a course for undergraduate students about how to ethically design modern nuclear facilities, about why it’s so important to be teaching this to young, would-be engineers now.

Host Lee Hawkins investigates how a secret nighttime business deal unlocked the gates of a Minnesota suburb for dozens of Black families seeking better housing, schools, and safer neighborhoods. His own family included.

This special episode comes from “Unlocking the Gates,” a new collaboration from Marketplace and APM Studios. 

Two federal judges have ordered the Trump administration to rehire fired federal workers who were on probation. The judges say the White House didn’t have the authority to execute mass layoffs and didn’t follow the law. And later: from our special series “Unlocking The Gates,” Marketplace special correspondent Lee Hawkins explores the lasting impact of housing discrimination in Minnesota, where racial covenants were first devised.

If you want to know how investors feel, check out the stock market. If you want to know how the rest of America feels — particularly low-income Americans — look to Dollar General. Its CEO said this week that its “core customers,” people who earn under $40,000 per year, are struggling. Also: “I’ve met fighter pilots, and I think you have a cooler job.” A vintage race car mechanic reflects on his work.

From the BBC World Service: Apple is appealing against a U.K. government demand to access its encrypted customer data, the outcome of which could shape the future of data protection. Then, U.S. President Donald Trump has threatened a 200% tariff on alcohol from EU countries. And we’ll hear from the co-founder of Roblox, one of the world’s biggest gaming platforms with ambitions to become the future of communication.

We are taking a look at how the tech industry is pushing back against federal cuts to artificial intelligence and science. Plus, Waymo is expanding its self-driving services in Silicon Valley. But first, Chinese e-commerce giant Alibaba this week released an AI model called R1-Omni, which the company says can read human emotions. Alibaba shared a demo on the coding platform GitHub that accurately described a character as being angry and experiencing fear. Marketplace’s Stephanie Hughes is joined by Jewel Burks Solomon, managing partner at venture firm Collab Capital, to break down these stories.

Want to be your own boss? In this episode, host Yanely Espinal talks to attorney-turned-entrepreneur Sam Vander Wielen about the basics of setting up a new business and what you need to know to protect yourself as a business owner. She shares some useful resources that can help you along the way. We also hear from 21-year-old Leslie Zuñiga about what she learned from starting her own nail art business. 

Think you’re financially inclined? Dig deeper into how to start a business:

• The U.S. Small Business Administration’s 10 steps for starting your own business 




• Small business resources from the U.S. Department of Commerce 




• Internal Revenue Service checklist for starting a business  

Are you in an educational setting? Here’s a handy listening guide. 

Thanks for listening to this episode of “Financially Inclined”! We’d love to hear what you learned from it or any questions you’d like us to answer in a future episode. You can shoot us an email at financiallyinclined@marketplace.org or tell us using this online form.

This podcast is presented in partnership with Greenlight: the money app for teens — with investing. For a limited time, our listeners can earn $10 when they sign up today for a Greenlight account.

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.

In this episode, Kai and Kimberly divide into the back and forth over tariffs. The on-again, off-again levies are making it tough for industries to plan and trade. With all the uncertainty, are markets — from stocks to agriculture — on the verge of becoming untradable? Plus, we’ll wryly smile at a biting, century-old song about farmers who were ticked off about tariffs. (Thanks to our listener, Robert, for sharing his rendition!)

Here’s everything we talked about today:

• “China’s retaliatory tariffs on agricultural goods will squeeze farmers” from Marketplace




• “Chinese tariffs on U.S. farm products take effect as trade tensions mount” by The Washington Post




• “An ‘Untradable’ Market: Trump Sows Profound Uncertainty for Stocks” from The New York Times




• “Nebraska folklore pamphlet: Farmers’ Alliance songs of the 1890’s” from Nebraska Memories, a digitized archival project from the Nebraska Library Commission

Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

Miami Beach has long been a famous (or infamous) destination for spring break revelers. But the city is starting to be over it; past spring breaks have devolved into stampedes, stabbings and even fatal shootings. Now, the city has drawn up rules to keep tourists and residents safe — but some locals wonder how that could affect businesses that rely on spring breakers. Also: less environmental regulation and rising corporate bond yields.

Federal agencies have until today to submit reorganization plans to the Office of Management and Budget. Those plans include layoffs, and the Social Security Administration is not immune. The agency is slated to reduce its staff by 7,000 employees, and many are worried about the problems that could result. Then, a wide-ranging antitrust probe into Microsoft is moving ahead, and students are suing the feds after staff cuts at federally-run tribal colleges.

On this edition of “Economics on Tap,” Kimberly and Sabri discuss how it’s nearly impossible to tariff-proof your shopping list (or cocktail) because of the way our global economy works. They also get into why reshoring might be easier said than done. Plus, could Congress claw back some of the authority on tariffs? And the hosts weigh in on this season of “White Lotus” in a round of Half-Full/Half-Empty!

Here’s everything we talked about today:

• “These cocktails and wines could get pricier if Trump imposes tariffs” from The Washington Post




• “US Senate Republican pushes to require congressional approval for new tariffs” by Reuters




• “House Republican moves to rein in tariff powers” by Politico




• “Powell Warns Trump’s Tariffs Risk Stoking Even Higher Inflation and Slower Growth” from The New York Times




• “The Revolving Restaurant Is Back Again (and Again)” from The New York Times




• “Americans Rush to Buy TVs, Soy Sauce, Lululemon Workout Gear” from The Wall Street Journal




• “This Financial Firm Can Give Investment Advice in Gen Z Slang, No Cap” from The Wall Street Journal




• ‘The White Lotus” Season 3 finale: How to watch, plus what we know about Season 4 from Yahoo Entertainment

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

From the BBC World Service: The president of Germany’s central bank, Joachim Nagel, has told the BBC that tariffs under U.S. President Donald Trump could push Germany into another recession — and he backs the European Union’s retaliatory actions. Also: The U.S. is once again sending military aid and intelligence support to Ukraine, which may unlock a multibillion-dollar rare mineral deal between the two countries. We’ll hear more.

This week, we’ve been exploring the lasting impacts of the COVID-19 pandemic. In March 2020, we spoke about what might happen with futurist Amy Webb, the CEO of the Future Today Strategy Group. She predicted, among other things, that we would give up more personal data around our health and location. Then on the show in 2021, she said more definitively that privacy was dead. This week, Marketplace’s Stephanie Hughes spoke with Webb again. They discussed the current state of digital privacy, the lessons not learned from the pandemic and, as Webb sees it, the victory of politics over planning.

A new contender has entered the podcast landscape: wait, is that California Governor Gavin Newsom? His show features a surprisingly conservative guest list, including MAGA stars Steve Bannon and Charlie Kirk. Kai and Kimberly break down the fourth wall and discuss whether there’s value in platforming guests who hold a different set of values. Plus, more federal layoffs took place this past week, this time in the U.S. Department of Education and its civil rights division. Then, the hosts get smiley about rescue dogs in a sled dog race (thanks, Abigail!) and the birds in Kai’s neighborhood.

Here’s everything we talked about today:

• 
  
  
  

  1. “Gavin Newsom Finds Some Surprising Common Ground With Steve Bannon” from The New York Times

  
  
  
  
  

• “Massive Layoffs at the Department of Education Erode Its Civil Rights Division” by ProPublica
  
  

• “U.S. Department of Education Launches “End DEI” Portal” from the U.S. Department of Education
  
  

• “This Iditarod musher is racing with mostly rescue dogs from Alaska shelters” from Alaska Public Media
  
  

• Kai’s been using Merlin Bird ID from the Cornell Lab of Ornithology to identify birds in his neighborhood
  
  

• Meanwhile, Kimberly’s uses the Seek app to help her tell the difference between weeds and plants in her garden
  
  

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

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.

Elevator parts, beer cans, gym equipment, metal furniture — these are just a few of the hundreds of goods now subject to President Donald Trump’s 25% tariffs, not just on steel and aluminum but lots of things made from those metals. The tariffs are coming amid concerns trade policy could cause a recession. We’ll hear more. Plus, solar power is on a tear, and inflation dipped amid market uncertainty.

Delta, American, Southwest and United have all cut their first-quarter growth forecasts or warned of slowing demand. This downturn comes five years to the week after the official start of the COVID-19 pandemic, when airlines faced a truly existential threat. We take a look back. Plus, in a much-needed break, the consumer price index showed cooling inflation in February. And we break down expansions in steel and aluminum tariffs.

From the BBC World Service: Greenland remains in U.S. President Donald Trump’s sights, but residents of the vast, mineral-rich Danish territory have elected a pro-business, pro-independence party in its general elections. We’ll hear more. Also: Another morning, another set of tariffs. The European Union hits back with reciprocal tariffs after the U.S. imposed a blanket 25% tax on steel and aluminium imports. And what’s the Chinese response to U.S. import taxes?

In the spring of 2020, 77% of American public schools moved to online distance learning when the pandemic hit, according to data from the U.S. Department of Education. Prior to the pandemic, you could say that schools were trickling into the digital age. Then, when COVID changed everything, they were basically tossed into it. Some educators adapted quickly, like Bebi Davis, who was working as a vice principal in Honolulu at the time. She’s now principal of Princess Victoria Kaiulani Elementary. Going totally virtual, she said, meant introducing an onslaught of technology — videoconferencing, classroom management software and messaging systems. Marketplace’s Stephanie Hughes asked Davis about the school system’s experience adopting so much tech all at once.

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.

Five years ago, the World Health Organization declared COVID-19 a pandemic. Since then, there have been lockdowns, a recession, two presidential elections and more than a million American lives lost from the disease. In many ways, life feels like it’s back to normal, but David Wallace-Wells, a writer for The New York Times, argues that the pandemic still has a grip on American life, from our faith in public health institutions to the way consumers feel about the economy. On the show today, Wallace-Wells walks us through how Americans neglected to process the seismic impact of the pandemic in the rush to recover from it, and how it’s left us more self-interested and less empathetic. Plus, how this can help explain disgruntled consumers and a growing appetite for risk-taking in the economy.

Then, we’ll get into how responses to public health emergencies have shifted to the realm of the private sector. And, we’ll hear listeners’ reflections on the COVID-19 pandemic, five years on.

Here’s everything we talked about today:

• “Opinion | How Covid Remade Our America, Five Years Later” from The New York Times




• “30 Charts That Show How Covid Changed Everything in March 2020” from The New York Times




• “Gyms, pets and takeout: How the pandemic has shifted daily life” from The Washington Post




• “It’s Not the Economy. It’s the Pandemic.” from The Atlantic




• “Opinion | Covid’s Deadliest Effect Took Five Years to Appear” from The New York Times




• “More Universities Are Choosing to Stay Neutral on the Biggest Issues” from The New York Times

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Tariff-driven inflation will hit Americans with the lowest incomes the hardest, slashing their disposable income by at least $1,700 a year, the Yale Budget Lab predicts. We’ll explain why. And the labor market could suffer too if demand falls for all those higher-priced products. Plus, New Mexico allocates oil and gas revenue to child care programs, and in booming West Texas, some residents struggle to access running water.

Americans took on an additional $74 billion in credit card debt last year, according to WalletHub, which is actually a smaller increase than we saw in 2023. But in 2024, Americans defaulted on $59 billion in credit card debt — a 34% jump from 2023. We’ll hear more. Also on the show: China’s deflation woes, a major crypto heist tied to North Korea and the market ripple effects of continued uncertainty.

Markets are a bit calmer this morning, after the NASDAQ had its steepest drop since 2022 and the S&P 500 tumbled 2.5% yesterday. Investors are looking forward to new data out today and this week that might offer insights into U.S. economic health. This comes after the Trump administration discounted market reaction to its tariff policies. Then, what economic legacies have been left by the COVID-19 pandemic five years on?

From the BBC World Service: Asian stock markets have continued to fall as investors raise concerns about the detrimental impact of President Donald Trump’s tariffs and a potential U.S. recession. Then, on the final day of the National People’s Congress, progress on artificial intelligence has been celebrated. And hackers allegedly linked to North Korea have cashed out at least $300 million of their record-breaking $1.5 billion heist from crypto company Bybit.

Five years ago today, after the World Health Organization declared the COVID-19 outbreak a pandemic, there was a widespread shift to remote work for many workers who were considered nonessential. And people had to get used to seeing their colleagues mainly on a screen. In recent years, some companies have required employees to return to the office full time. But remote work remains a major part of many people’s lives, far more than in 2019. Marketplace’s Stephanie Hughes spoke with Anita Blanchard, a professor of psychological and organization science at the University of North Carolina at Charlotte, about what’s lost when workers don’t interact in the same physical space.

On today’s episode, Kai and Kimberly discuss the future of Biden-era clean energy tax credits under Trump 2.0. A group of GOP lawmakers want them to stay. Meanwhile, the administration is rescinding memos that pushed for climate change-resilient infrastructure. Plus, the hosts weigh in on the arrest of a Palestinian activist and Columbia University student by Immigration and Customs Enforcement agents. Is this the first arrest of “many to come?” Finally, we’ll smile as the cherry blossoms in Washington, D.C., get closer to full bloom.

Here’s everything we talked about today:

• “Trump Says Columbia Student Arrest Is First of Many to Come” from The Wall Street Journal




• “House Republican support grows for keeping clean energy tax breaks” from Politico




• “Transportation secretary rescinds Biden memos prioritizing infrastructure resilience to climate change” from The Hill




• “2025 Cherry Blossom Peak Bloom Forecasts” from DC Cherry Blossom Watch

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

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.

Economists believe the risk of recession is higher, surveys show. Sources of economic uncertainty include tariffs, federal layoffs and immigration policy. Today, we’ll chat about a shift in how top government officials are describing the projected path of the economy. Also, both houses of Congress must pass a stopgap funding bill by this Friday night to avoid a partial government shutdown. And, when is the “golden window” to put your house on the market?

There’s a clear divide over some sunnier economic data that’s been released over the past few months and how consumers are actually experiencing this economy. On today’s show, we discuss how some headline figures — like unemployment and inflation — can mislead rather than paint a full picture. Plus, some economists and investors are worried about the direction of the U.S. economy, which President Donald Trump said is headed for “a period of transition.”

From the BBC World Service: The Japanese government begins a rare auction of its emergency rice stockpiles in a bid to drive down the surging price of the national staple; rice prices have roughly doubled over the past year. Then, China’s retaliatory tariffs on billions of dollars’ worth of U.S. goods are officially in force. Plus, we’ll hear how the war in Ukraine is creating a new middle class of Russians.

March 11 marks five years since the World Health Organization declared the COVID-19 virus officially a pandemic. Tracking the virus has been key to understanding where outbreaks are occurring and one tracking tool that had been mostly on the shelf prior to the pandemic is wastewater surveillance. That’s pretty much what it sounds like — testing what we flush down the toilet which eventually lands in what’s known as a sewer shed. Marketplace’s Stephanie Hughes spoke with molecular virologist Marc Johnson at the University of Missouri about the advantages of wastewater surveillance. The following is an edited transcript of their conversation.

Because it probably won’t look pretty. The stock market plummeted again this morning on news that China is putting hefty new tariffs on American goods — 34% to be exact. In other data news, unemployment unexpectedly ticked up, and job gains were relatively uninspiring. We’ll unpack. Then, we’ll hear what tariffs mean for cheap clothing and glean tips from car buyers at a used car auction as part of our Tricks of the Trade series.

President Donald Trump’s family business is suing Capital One for closing its bank accounts in the aftermath of the Jan. 6 attack on the Capitol, arguing the bank violated consumer protection laws. Where’s the Consumer Financial Protection Bureau when ya need ’em? Then, Kimberly breaks down two moves by the White House that could have sweeping consequences for law firms who work on cases against the Trump administration. Plus, we’ll weigh in on Trump’s strategic bitcoin reserve and tariff whiplash during a game of Half Full/Half Empty! Oh, and should there be a half-time show at the 2026 World Cup final?

Here’s everything we talked about today:

• “Trump Organization Sues Capital One for Closing Its Accounts” from The New York Times




• “War heroes and military firsts are among 26,000 images flagged for removal in Pentagon’s DEI purge” from AP News




• “Fact Sheet: President Donald J. Trump Ensures the Enforcement of Federal Rule of Civil Procedure 65(c)” from the White House




• “Trump directs DOJ to seek security bonds for injunctions” from Law and Crime




• “Trump targets prominent Democratic-linked law firm” from Politico




• “Your tariff questions, answered.” from the Marketplace newsletter




• “Why coffee shops like Dunkin’ are dropping nondairy milk fees” from Marketplace




• “Fed chair signals patience amid Trump’s tariff whiplash” from The Washington Post




• “In a first, the 2026 World Cup final will include a halftime show” from NPR




• “Can an A.I. Travel Bot Plan Your Trip to NYC?” from The New York Times

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

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.

This week, Fitch Ratings found that 6.5% of subprime borrowers were at least two months late on their car payments. That’s the highest level since the agency began collecting this data in 1994. Other data finds that auto loan delinquency rates increased in 2024 across all income levels. What’s behind all this? Plus, tariffs already being felt across the economy. And later, a vintage race car mechanic reflects on the sights, sounds and feelings of racing.