A year later, is Trump’s investment in Intel… a win-win?
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What is the main topic discussed in this episode?
I'm Shannon Maldonado, the founder of the Jaui gift shop that sells handmade artisanal products. I chose Shopify because when I tested the equipment, I found it to be one of the easiest to use equipment. It was important for me to consider our development in the future. All tools needed for sales, such as stock planning, are handy on the dashboard. Start the free trial at shopify.com website.
On the program today, the week that was, and honestly, it was a week. From American Public Media, this is Marketplace.
In Los Angeles, I'm Kyle Rizdahl. It is Friday today. This one is the 24th of July. Good as it always is to have you along, everybody. This has not been, as I think I said a couple of days ago, a week with a whole lot of data in it. But data is not the whole economic ballgame, you know. So we'll have plenty to do for the next seven minutes or so. Courtney Brown is at Axios. Stacey Vanek-Smith is at Bloomberg. Hey, you two.
Hi, Kai.
Stacey, I'm going to start with you and I'm going to start with the tariffs that went into effect at midnight to replace the tariffs that went away at midnight. Blah, blah, blah. We all know the details. Here's the thing. Seems to me now that the tariffs, while impactful on an individual basis and with small businesses and, you know, big businesses, too, they've kind of become like economic wallpaper. Discuss.
I think that's a good point. It does seem like the tariffs are dead long with the tariff situation, for sure. I think the difference is, though, for consumers right now. I think consumers are in a very different place. We got numbers from the Tax Foundation that in 2025, tariffs cost households about $1,000. I think with high gas prices, inflation continuing to climb, wages not keeping up with inflation, I think consumers are just in an increasingly... difficult situation trying to pay for things. And I think that $1,000, which is expected to be more this year, is really starting to change for consumers and businesses.
What happened this week in the economy and who’s on the panel?
I think maybe we're going to get close to hitting a wall here pretty soon.
Well, so, Courtney, on that subject, not necessarily of the wall, but what it's doing, we are all kind of still now subject to the president's whims, right? I mean, these tariffs that went into effect at 12.01 this morning, they can be changed now at the president's discretion now that the investigations have been done. So there's not a lot of certainty coming our way.
Yeah. Let me tell you something about wallpaper, Kai. If it's ugly and if it's loud, it can be pretty distracting. Right. And I think that's maybe how some of my sources would characterize tariffs. Right. They, as you say, have become a backdrop. But. It's very clear if we learned anything this week, it is that the president is committed to carrying out his tariff agenda. He has had a couple outs. He could have backtracked. No, he decided to double down. I also want to give a shout out to my sources, several of which told me that. President Trump wouldn't dare to double down on tariffs with the backdrop of the Middle East conflict. No, there's no way he would do that. It's too much uncertainty. He's got the oil shock and that's driving up prices.
No, he wouldn't double down on tariffs. He is going to double down on tariffs. And so if you had any doubt, this week shows you that they are very serious about their trade agenda.
Stacey, the next bullet item on my list of things to talk to you about says, just back to what Courtney said, the bullet point literally is oil, question mark, war, question mark.
That's pretty much a good sum up of 2026 so far.
You know.
Yeah. I mean, listen, oil is just another tough situation. We got some pretty promising inflation numbers earlier this month. And now it seems like Strait of Hormuz is closed again. Oil's back up around 90 bucks a barrel. As you've talked about so many times on the show, oil prices seep into everything. So that is just not good news for consumers or for businesses. It just seems like we're in a real holding pattern here. Every time it seems like there is progress and things are about to come to a conclusion, we're right back where we started.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–2:17
2
What happened this week in the economy and who’s on the panel?
2:17–4:50
3
Are new tariffs just economic wallpaper or a real burden for households?
4:50–16:08
4
How are oil prices and Middle East tensions affecting inflation and consumers?
16:08–28:25
5
Could rising bond yields and higher borrowing costs change Fed policy?
28:25–29:06