Make Me Smart

Keyed to President Donald Trump’s tariff announcement today, Kimberly and Sabri unpack some of the messaging about the impact tariffs had during the president’s first term and explain why many of those claims are overblown. Plus, why we’re smiling about Sen. Cory Booker’s historic speech and how Sabri fell victim to April Fools’ Day shenanigans! (Note: This episode was recorded prior to Trump’s speech.) Here’s everything we talked about today: “Trump’s Tariffs Make the Fed’s Interest Rate Decisions Tougher”“Tariffs Work — and President Trump’s First Term Proves It”“Economic View: Tariffs Have Strengthened the U.S. Economy”“Economic Impact of Section 232 and 301 Tariffs on U.S. Industries”“ITC Study Proves Effectiveness of China Tariffs on Boosting Domestic Production, Reducing Dependence on Imports”“Home Depot to Charge For Parking to Combat Inflation”“Booker sets new record for longest Senate floor speech”@kimberlyadams.bsky.social‬ Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The idea that the government should be run more like a business isn’t new. But with two businessmen, Donald Trump and Elon Musk, now taking a proverbial chainsaw to the federal bureaucracy all in the name “efficiency,” this theory is being put to the test. While it’s an appealing idea, Philip Joyce, professor of public policy at the University of Maryland School of Public Policy, said governments can’t afford to take risks the way businesses can. On the show today, Joyce explains the origins of the idea that the government should be run like a business, how we define “success” differently for the two entities, and how the way Trump and Musk do business is showing up in the White House. Then, we’ll break down the high stakes of today’s special elections in Wisconsin and Florida. Plus, reflections on serendipitous moments in walkable communities and what we gain by admitting we were wrong. Here’s everything we talked about today: “Why Running the Government Like a Business Would Be a Disaster”“The US Government Is Not a Startup”“The US Postal Service has been struggling for years. Now Trump’s talking about privatizing it”“DOGE wants businesses to run government services ‘as much as possible’”“UPDATE: RECOVER Long COVID pathobiology grants restored”“NIH restores some long COVID grants”“What to Watch in Wisconsin’s Supreme Court Election and Florida’s Special Elections”“What to watch for Tuesday in Wisconsin’s high-stakes Supreme Court race and special elections in Florida”“Control of the Wisconsin Supreme Court is at stake in race that’s drawn powerful political interests”“Volume 52 | Issue 1 | February 2025” Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

President Donald Trump has promised that a fresh wave of tariffs on April 2 will usher in an era of growth in American manufacturing. But does history bear that out? We’ll explain how steel tariffs under President George W. Bush did more harm than good. And, in response to Trump’s trade agenda, the “buy Canadian” movement is gaining steam. American exporters are already feeling it. Plus, we’ll smile about flowers, parties and the unspoken rules of texting. Here’s everything we talked about today: “As ‘Buy Canadian’ grows, more US companies say retailers shunning their products”“Republicans scramble to shield their states from Trump’s next wave of tariffs”“Why steel tariffs failed when Bush was president”“Are You a Hostile Punctuator???”“‘God’s way of smiling at us’: Iconic DC cherry blossoms create lasting joy, new beginnings” Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The artificial intelligence cloud computing provider CoreWeave sold shares to the public today with so-so results. Because it’s the first major IPO of the current generative AI era, some argue that CoreWeave could be a barometer of the AI boom. We’ll get into it. And, a federal appeals court ruled in favor of President Donald Trump’s firings of independent agency heads. The case will likely make its way to the Supreme Court. Plus, we’ll play a round of Half Full/Half Empty! Here’s everything we talked about today: “Appeals court clears way for Trump to fire leaders of ‘independent’ federal agencies”“CoreWeave stock seesaws after IPO in first big test of AI trade”“CoreWeave Is A Time Bomb”“OpenAI Unveils New Image Generator for ChatGPT”“DoorDash and Klarna partner to offer buy now, pay later for takeout”“Crocs hits record revenue as popularity with younger consumers soars”“When should we pay rent with a credit card?“Facebook’s New Friends Tab Brings App Back to Its Roots” Marketplace’s March fundraiser ends today! Chip in now and pick up a classic public media thank-you gift: https://support.marketplace.org/smart-sn

On today’s episode, Kai and Reema discuss the disturbing arrest of a Turkish national with a valid student visa at Tufts University and the effects these immigration detentions are having on political speech. Plus, WNBA team New York Liberty got a shiny, new training facility. (No, it’s not a spa!) And, another big oops for National Security Adviser Mike Waltz. You just can’t make this stuff up. Here’s everything we talked about today: “New York Liberty Unveil Practice Facility Amid WNBA’s Race to Attract Talent”“DoJ lawyers say detained Tufts student was sent to Louisiana before court order”Marco Rubio’s comments on Ozturk’s arrest“Mike Waltz Left His Venmo Friends List Public” Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

In all the talk about senior White House officials discussing military attack plans over the messaging app Signal (and accidentally invited a journalist to the chat), one detail is being overlooked: the impact of the attacks on Yemen. We’ll get into it. And, we’ll unpack the chilling effect the Trump administration is having on U.S. tourism. Plus, nobody remembers that embarrassing time you misspoke in a Zoom meeting, right? Here’s everything we talked about today: “Foreign Travelers Are Rethinking Travel to the U.S.”“Beyond the Signal fiasco, Trump’s Yemen strategy needs more scrutiny”“Here Are the Attack Plans That Trump’s Advisers Shared on Signal” (gift link)“Living Car-Free in Arizona, on Purpose and Happily”“The Ford Executive Who Kept Score of Colleagues’ Verbal Flubs”“As Republicans Denounce NPR and PBS, Democrats Mock Hearing” Help Marketplace and Make Me Smart plan for an uncertain future. Donate now during our March fundraiser.

The United States and Ukraine are weighing a deal that would give the U.S. a cut of revenues from Ukraine’s rare earth minerals. But Gracelin Baskaran, mining economist at the Center for Strategic and International Studies, said rare earths aren’t all that rare. So why is the Trump administration scrambling to get its hands on these minerals from other countries? On the show today, Baskaran explains what rare earths are, why mining them isn’t always economically attractive, and what the U.S. is doing to try to catch up with China’s rare earth production. Plus, why recycling is only part of the solution. Then, we’ll get into why Canadians are boycotting American vacations. And, how easy is it to get someone to dream about a tree or supply chain economics? Here’s everything we talked about today: “Opinion | How Trump Can Turn the Ukraine Mineral Deal Into Real Security”“US seeks to reopen terms of Ukraine minerals deal”“Fact Sheet: President Donald J. Trump Takes Immediate Action to Increase American Mineral Production”“Ukraine mineral deal could bolster U.S. supply of key materials”“Why does DRC want a Ukraine-like minerals deal with Trump, amid conflict?”“The Space Station Is Too Clean, and It’s Making Astronauts Sick”“Canadians Are Boycotting American Vacations” Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Most of us can only wonder what goes on in U.S. national security leaders’ group chats, but The Atlantic’s Editor-in-Chief Jeffrey Goldberg doesn’t have to. Last week, Goldberg was accidentally included in a Signal group chat with high-ranking members of the Donald Trump administration, in which they discussed imminent war operations. Yes, this actually happened. Plus, the whopping $2.1 billion verdict you might’ve missed over Roundup weed killer. And, we smile over what’s happened since congestion pricing went into effect in Manhattan — all while dropping some Latin vocab. Here’s everything we talked about today: “The Trump Administration Accidentally Texted Me Its War Plans”“Bayer Drops After $2 Billion Verdict in Latest Roundup Trial”“Third Circuit Rules Failure to Warn Claims Preempted by FIFRA”“Denzel Washington and Jake Gyllenhaal break Broadway box office records with ‘Othello’”“Congestion Pricing is a Policy Miracle” Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

It’s almost peak bloom in Washington, D.C., which means it’s time for our annual cherry blossom celebration! But first, some federal funding news: Columbia University will give in to far-reaching demands by President Donald Trump to restore threatened federal funding. We’ll get into what kind of precedent the move sets for higher education. And, the U.S. Department of Agriculture will cancel $500 million in food deliveries. Rural food banks could be impacted most. Plus, we’ll play a blossom-themed round of Half Full/Half Empty! Here’s everything we talked about today: “Trump weighs in on report King Charles will offer U.S. Commonwealth membership”“Columbia Yields to Trump in Battle Over Federal Funding”“USDA cancels $500M in food deliveries, leaving food banks scrambling”“Ohio among best places to see cherry blossoms blooming. Here’s where”“Cherry Blossom predictions are in! Will AI bloom or bust?”“Beyond the bud: How the nation’s pink trees became an indicator of changing climate”“2025 National Cherry Blossom Festival set to boost DC tourism” Donate to our March fundraiser to get classic public media thank-you gifts! https://support.marketplace.org/smart-sn

Not totally sure how tariffs work, who pays for them and how they’re collected? Look no further. In today’s episode, Kai and Nova answer these questions and more. We’ll explain how tariffs are applied and what they’re based on, as well as what happens when a good crosses a border multiple times. Plus, what’s the point of a country retaliating with tariffs if its citizens have to pay for them? We’ll get into it. Here’s everything we talked about today: “Who Pays for Tariffs? Here’s What You Need to Know.”“China’s retaliatory tariffs on agricultural goods will squeeze farmers”Audio snippet“How Tariffs Work”“Automakers warn that Trump tariffs will hike vehicle prices as much as 25%”“Buying a Car? Trump’s Tariffs Could Make It More Expensive.”“Europe Delays Tariffs on U.S. Whiskey to Make Time to Negotiate”“Trump’s 200% tariff threat would be ‘a real disaster’ for Europe’s wine industry” Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

President Donald Trump’s tariff fight with the European Union just got a little more heated after the EU accused U.S. tech giants Google and Apple of breaching antitrust rules. Could this escalate the EU-U.S. trade war? We’ll also talk about the erasure of Black history and why Elon Musk is about to be back in the money. Finally, Nova makes us smile with some of the funniest and nerdiest bumper stickers seen around the streets of Los Angeles. Here’s everything we talked about today: “Jackie Robinson’s Army career wiped from military website in DEI purge”@danlamothe.bsky.social“Elon Musk’s X Raises Almost $1 Billion in New Equity Funding”“EU accuses Google and Apple of breaking its rules, risking Trump clash”“The funniest, weirdest and most niche bumper stickers seen around L.A.”“Debussy Prelude to the Afternoon of a Faun” Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Hey Smarties! Today we’re revisiting an episode from earlier this year that might help you make sense of all the tit for tat tariff fight from the past few weeks. It unpacks some tariff history and the potential economic consequences of President Trump’s ongoing trade war. If President Donald Trump goes through with his plan to levy sweeping tariffs on foreign imports, it wouldn’t be the first time the U.S. has done such a thing. Ever heard of the Smoot-Hawley Tariff Act of 1930? Anyone? Those tariffs are widely credited with sinking the United States deeper into the Great Depression. And although global trade looks different nowadays, they can teach us a lot about how Trump’s protectionist approach to global trade could play out. On the show today, Inu Manak, a fellow for trade policy at the Council on Foreign Relations, explains how the Smoot-Hawley tariff debacle can shed light on the current moment, why the president has the power to wield tariffs in the first place, and how punishing trading partners could leave the U.S. economy at a disadvantage. Plus, what this fight has to do with the 1980s film “Ferris Bueller’s Day Off” and Roomba vacuum cleaners! Later, one listener’s call to visit your local butcher. And, dating coach Damona Hoffman, host of the “Dates and Mates” podcast, answers the “Make Me Smart” question just in time for Valentine’s Day. Here’s everything we talked about today: “Tariffs on Trading Partners: Can the President Actually Do That?”“One Response to Trump’s Tariffs: Trade That Excludes the U.S.”“The United States has been disengaging from the global economy”“Protectionism 100 years ago helped ignite a world war. Could it happen again?”“The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today’s globalized system” Double your impact when you donate to Marketplace today, thanks to a $30,000 match from the Investors Challenge Fund: https://support.marketplace.org/smart-sn

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”“Donald Trump Is Itching for a Legal Showdown Over Deportations”“What court orders? Trump’s moving full steam ahead to slash more federal workers”“Exclusive: How the White House ignored a judge’s order to turn back deportation flights”“Trump admin live updates: Border czar says ‘I don’t care what the judges think’”“Crematory horrors spur Maryland lawmakers to push for reform”“A Congresswoman with Dementia Stopped Coming to Work. The DC Press Corps Never Noticed.”“The Budget Trick the G.O.P. Might Use to Make a $4 Trillion Tax Cut Look Free”@bbkogan.bsky.social“Republicans press for change in how CBO tallies cost of legislation” Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

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” “Dr. Oz, with a TV host’s flair, promises simple solutions for America’s health care ills” Schumer Under Fire as Pelosi and Other Democrats Criticize Shutdown Retreat” “Half-Past Four is the New Five O’Clock in More Efficient Workday” 5 Takeaways From Meghan Markle’s Netflix Show ‘With Love, Meghan’” Why does the viral Erewhon strawberry cost $19?” Southwest Airlines is charging for checked bags. Will loyal flyers stick around? Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

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”“Chinese tariffs on U.S. farm products take effect as trade tensions mount”“An ‘Untradable’ Market: Trump Sows Profound Uncertainty for Stocks”“Nebraska folklore pamphlet: Farmers’ Alliance songs of the 1890’s” Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

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: “Gavin Newsom Finds Some Surprising Common Ground With Steve Bannon” “Massive Layoffs at the Department of Education Erode Its Civil Rights Division” “U.S. Department of Education Launches “End DEI” Portal” “This Iditarod musher is racing with mostly rescue dogs from Alaska shelters” Merlin Bird ID Seek app Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

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”“30 Charts That Show How Covid Changed Everything in March 2020”“Gyms, pets and takeout: How the pandemic has shifted daily life”“It’s Not the Economy. It’s the Pandemic.”“Opinion | Covid’s Deadliest Effect Took Five Years to Appear”“More Universities Are Choosing to Stay Neutral on the Biggest Issues” Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

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“House Republican support grows for keeping clean energy tax breaks”“Transportation secretary rescinds Biden memos prioritizing infrastructure resilience to climate change”“2025 Cherry Blossom Peak Bloom Forecasts” Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

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”“War heroes and military firsts are among 26,000 images flagged for removal in Pentagon’s DEI purge”“Fact Sheet: President Donald J. Trump Ensures the Enforcement of Federal Rule of Civil Procedure 65(c)”“Trump directs DOJ to seek security bonds for injunctions”“Trump targets prominent Democratic-linked law firm”“Your tariff questions, answered.”“Why coffee shops like Dunkin’ are dropping nondairy milk fees”“Fed chair signals patience amid Trump’s tariff whiplash”“In a first, the 2026 World Cup final will include a halftime show”“Can an A.I. Travel Bot Plan Your Trip to NYC?” Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Donald Trump administration officials disbanded two expert committees on economic data this week and suggested altering the way the U.S. calculates gross domestic product. It’s not the first time the administration has hinted at fiddling with important numbers, and a listener wrote in to ask how all this might impact businesses and the market. We’ll break it down. Plus, why is nobody talking about the debt limit? And, congrats to Bill in Ohio on scoring a hat trick! Here’s everything we talked about today: “Trump administration disbands two expert panels on economic data”“Can the U.S. delete government spending from GDP?”“Key House Republican Warns May Debt-Ceiling Breach Possible”“Explainer: Why would the US government shut down?”“A campus sign said ‘Tell us something good.’ Students delivered.” Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.