Seesawing Tariffs, Trump's Middle East Agenda, Sean 'Diddy' Combs Trial
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What is the impact of the temporary U.S.-China tariff deal on businesses?
A temporary softening of tariffs on Chinese products has investors relieved.
And some business owners are racing to import merchandise, but... We don't know what's going to happen tomorrow.
It's very unpredictable.
I'm Leila Faldin with Michelle Martin, and this is Up First from NPR News. President Trump is in Riyadh for his first overseas state visit, and leaders in the region are prepared to make deals with the famously transactional president.
You'll see Mr. Trump's visit. There'll be a whole slew of economic agreements that will be signed, joint ventures, investment agreements.
What do Gulf states want in return?
And jurors heard graphic allegations on day one of Sean Diddy Combs' sex trafficking trial. His defense team argues that Combs is a complicated man, but not a criminal. Stay with us. We'll give you the news you need to start your day.
Great conversation makes for a great party. But how do you ask the questions that really make the room come alive? Well, here at Life Kit, we've got you. What is a path you almost took but didn't? On our latest episode, how to ask the magical questions that'll make your party sparkle. Listen to the Life Kit podcast from NPR. Shortwave thinks of science as an invisible force, showing up in your everyday life. Powering the food you eat, the medicine you use, the tech in your pocket. Science is approachable because it's already part of your life. Come explore these connections on the Shortwave podcast from NPR. When the Star Wars prequels came out, they were polarizing. Many fans of the original trilogy hated the Phantom Menace, Attack of the Clones, and Revenge of the Sith, though many younger fans loved them then and loved them still. So we're re-watching them with fresh eyes 20 years later.
From Jar Jar Binks to the climactic no that broke the internet in half, listen on NPR's Pop Culture Happy Hour podcast.
How are importers reacting to the 90-day tariff reprieve?
A temporary trade deal between the U.S. and China has set off a scramble to bring merchandise across the Pacific Ocean while lower tariffs are in place.
No one's sure what's going to happen when the deal expires in 90 days, but a lot of importers aren't taking any chances.
NPR's Scott Horsey is with us now to tell us more about this. Good morning, Scott.
Good morning, Michelle.
You know, so the president's tariffs have made investors and business owners very uneasy these last several weeks. How are they reacting to, I guess we'll call it a temporary reprieve?
Well, investors were thrilled. The Dow Jones Industrial Average soared more than 1,100 points yesterday. For the importers I talked to, the reaction was more determination and a feeling that, all right, it's time to get back to work. A lot of importers had been in a holding pattern since those 145% tariffs took effect last month. Now the tariff's been cut to 30%, at least temporarily. And for Jonathan Silva, who runs a Massachusetts company making high-end board games in China... That was enough to green light nine truckloads of games that had been parked in China to start their journey to the U.S.
We need to get product back on shelves. I think that we're really getting close to the tipping point of starting to see some shortages. At 30%, it's not ideal. You know, there'll be slight price increases.
Silva is hoping to bring a lot more merchandise in before the Christmas season, but he's just not sure how much he'll be able to manufacture and ship before this 90-day window closes.
And why is that?
Well, think about it. A huge number of U.S. businesses rely on factories in China. And when those triple-digit tariffs took effect last month, it was like pinching off a garden hose. Now the hose is partially unkinked, and there's a lot of pent-up pressure. Bonnie Ross is a clothing importer who works with a lot of discount chains. She says they're all going to be rushing to bring in merchandise, but the capacity of the hose, you know, the factories, the cargo ships, the ports, is still limited.
What challenges do businesses face with the uncertainty of future tariffs?
Now, everybody who has goods that are sitting in China that they have not put on a vessel that were ready, now it's going to be a rush because everybody wants it out in the next 90 days. What is going to happen to the freight rates?
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Chapters
7 chapters
1
What is the impact of the temporary U.S.-China tariff deal on businesses?
0:02–2:11
2
How are importers reacting to the 90-day tariff reprieve?
2:11–4:07
3
What challenges do businesses face with the uncertainty of future tariffs?
4:07–6:25
4
What is President Trump's agenda during his Middle East visit?
6:25–8:11
5
How are Gulf states engaging with the U.S. during Trump's visit?
8:11–9:30
6
What security and economic interests are at play in the Middle East visit?
9:30
7
What are the key developments in Sean 'Diddy' Combs' sex trafficking trial?
0:37–16:57
Speakers
9 identifiedMore from Up First from NPR
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