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Chapter 1: What is the main topic discussed in this episode?
TrumpRx, a rough week for markets, and trying to run a restaurant during an ICE operation. From Marketplace, I'm Sabri Beneshour, in for David Brancaccio. The Trump administration has launched the new TrumpRx website, where people can shop for prescription drugs. The site went live yesterday. Marketplace's Nancy Marshall-Genzer explains how it'll work and who it'll benefit.
TrumpRx will initially offer 40 medications from five manufacturers, ranging from inhalers to insulin, fertility, and weight loss medications. A White House fact sheet says more drugs will be made available in the coming months. You won't be buying your medications right on TrumpRx. Instead, it's a hub that points you to participating manufacturers' websites.
TrumpRx offers coupons for some drugs that consumers take to their pharmacies. You still need a prescription, and you can't use your insurance to shop on TrumpRx.
Chapter 2: What is TrumpRx and how does it work?
It's only available for cash-paying patients. But insurance doesn't cover some things like obesity and fertility drugs. It's not clear what kind of impact TrumpRx will have. Some drug manufacturers already offer a discount to cash-paying customers, and some of these medications are already available as cheaper generics. I'm Nancy Marshall-Genzer for Marketplace.
It has been a bumpy week for markets. Software stocks like Salesforce and Intuit got pummeled by new AI tools from Anthropic that investors fear will make a lot of software obsolete. But they are bouncing back a little this morning. And before you worry about a tech Armageddon, there may also be something else going on here. Christopher Lowe is chief economist at FHN Financial in New York.
The best explanation I can come up with, and remember, gold and silver down huge, too. Big drop there. These are the assets that were up the most last year in a year where there were massive capital gains. Last year was a huge year for risk assets.
Chapter 3: What medications will be available through TrumpRx?
People made a lot of money. People cashed out a lot of that money, and now they owe taxes. It's the first quarter. So I think what you're seeing is tax harvesting was the initial cause of the sell-off. And then once it began, leverage is what made it so violent.
Christopher Lowe with FHN Financial. The Trump administration's Operation Metro surge brought thousands of immigration officers to Minnesota. This week, the Department of Homeland Security said it is reducing the number of immigration agents in the state by about 25 percent. But the enforcement operation continues. It is now in its third month.
We've been reporting on what this has meant for businesses, big and small, in the state. They're seeing disruptions to daily work. Officials in Minneapolis estimate that businesses are missing out on some $10 to $20 million in revenue per week. Today, we talk to a restaurant owner in the middle of this. Alex Rosario Torres is the owner of La Bodega Taco Bar, a Mexican restaurant in Minneapolis.
Good morning. Good morning. Can you tell us a little bit about what you have been seeing, you yourself? Has there been ICE action in the neighborhood around your restaurant?
Yes, I mean, on a constant basis, even. I mean, there was one instance where an agent was just standing in front of our door for like half an hour.
So if you have ICE agents literally on your doorstep, what has that meant for business?
It scares people away. You know, some people just obviously don't want to deal with it or be put in that situation, regardless of their legal status. You know, some for the color of their skin and some just don't, you know, support it.
Yeah. Has this affected sales?
Yes, it has tremendously. I would say more than half, more than 50% of our business.
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Chapter 4: How has the market reacted to recent events?
That's what we're trying to figure out on a day-by-day basis. You know, it's tough because, like I said, Just barely have enough to cover the, you know, to pay my employees. You know, I follow up with them every day. You know, how are you feeling? Do you need anything? Let me know when you're ready to come to work. We're here.
And, you know, some are like, oh, maybe next week or we'll take it day by day. You have to respect and understand it.
Alex Rosario Torres is the owner of La Bodega Taco Bar in Minneapolis. Thank you so much.
Oh, thank you. I appreciate the time.
In New York, I'm Sabri Beneshour with the Marketplace Morning Report. From APM American Public Media.
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