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” from The New York Times “Tariffs Work — and President Trump’s First Term Proves It” from The White House “Economic View: Tariffs Have Strengthened the U.S. Economy” from the Coalition for a Prosperous America “Economic Impact of Section 232 and 301 Tariffs on U.S. Industries” from the United States International Trade Commission “ITC Study Proves Effectiveness of China Tariffs on Boosting Domestic Production, Reducing Dependence on Imports” from the Coalition for a Prosperous America “Home Depot to Charge For Parking to Combat Inflation” by Pro Tool Reviews “Booker sets new record for longest Senate floor speech” from Roll Call @kimberlyadams.bsky.social‬ via Bluesky Got a question or comment for the hosts? Email [email protected] 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” from The New York Times “The US Government Is Not a Startup” from Wired “The US Postal Service has been struggling for years. Now Trump’s talking about privatizing it” from AP News “DOGE wants businesses to run government services ‘as much as possible’” from The Washington Post “UPDATE: RECOVER Long COVID pathobiology grants restored” from The Sick Times “NIH restores some long COVID grants” from C&EN “What to Watch in Wisconsin’s Supreme Court Election and Florida’s Special Elections” from The New York Times “What to watch for Tuesday in Wisconsin’s high-stakes Supreme Court race and special elections in Florida” from CNN Politics “Control of the Wisconsin Supreme Court is at stake in race that’s drawn powerful political interests” from AP News “Volume 52 | Issue 1 | February 2025” from the American Ethnological Society Got a question or comment for the hosts? Email [email protected] 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” from Reuters “Republicans scramble to shield their states from Trump’s next wave of tariffs” from Politico “Why steel tariffs failed when Bush was president” from Politico “Are You a Hostile Punctuator???” from Time “‘God’s way of smiling at us’: Iconic DC cherry blossoms create lasting joy, new beginnings” from USA Today Got a question or comment for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

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.” from The New York Times “Beyond the Signal fiasco, Trump’s Yemen strategy needs more scrutiny” from The Washington Post “Here Are the Attack Plans That Trump’s Advisers Shared on Signal” (gift link) from The Atlantic “Living Car-Free in Arizona, on Purpose and Happily” from The New York Times “The Ford Executive Who Kept Score of Colleagues’ Verbal Flubs” from The Wall Street Journal “As Republicans Denounce NPR and PBS, Democrats Mock Hearing” from The New York Times 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” from The New York Times “US seeks to reopen terms of Ukraine minerals deal” from Financial Times “Fact Sheet: President Donald J. Trump Takes Immediate Action to Increase American Mineral Production” from the White House “Ukraine mineral deal could bolster U.S. supply of key materials” from Marketplace “Why does DRC want a Ukraine-like minerals deal with Trump, amid conflict?” from Al Jazeera “The Space Station Is Too Clean, and It’s Making Astronauts Sick” from The Wall Street Journal “Canadians Are Boycotting American Vacations” from The Wall Street Journal Got a question or comment for the hosts? Email [email protected] 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” by The Atlantic “Bayer Drops After $2 Billion Verdict in Latest Roundup Trial” from Bloomberg “Third Circuit Rules Failure to Warn Claims Preempted by FIFRA” from the National Agricultural Law Center “Denzel Washington and Jake Gyllenhaal break Broadway box office records with ‘Othello’” by CNN “Congestion Pricing is a Policy Miracle” by Better Cities via Substack Got a question or comment for the hosts? Email [email protected] 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” from The Independent “Columbia Yields to Trump in Battle Over Federal Funding” from The Wall Street Journal “USDA cancels $500M in food deliveries, leaving food banks scrambling” from The Washington Post “Ohio among best places to see cherry blossoms blooming. Here’s where” from The Columbus Dispatch “Cherry Blossom predictions are in! Will AI bloom or bust?” from George Mason University “Beyond the bud: How the nation’s pink trees became an indicator of changing climate” from WBAL “2025 National Cherry Blossom Festival set to boost DC tourism” from ABC7 News Donate to our March fundraiser to get classic public media thank-you gifts! https://support.marketplace.org/smart-sn

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” by NBC News @danlamothe.bsky.social‬ on Bluesky “Elon Musk’s X Raises Almost $1 Billion in New Equity Funding” by Bloomberg “EU accuses Google and Apple of breaking its rules, risking Trump clash” from The Guardian “The funniest, weirdest and most niche bumper stickers seen around L.A.” by The Los Angeles Times Watch: “Debussy Prelude to the Afternoon of a Faun” performed by the Detroit Symphony Orchestra on YouTube Got a question or comment for the hosts? Email [email protected] 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?” from Council on Foreign Relations “One Response to Trump’s Tariffs: Trade That Excludes the U.S.” from The New York Times “The United States has been disengaging from the global economy” from the Peterson Institute for International Economics “Protectionism 100 years ago helped ignite a world war. Could it happen again?” from The Washington Post “The US is one of the least trade-oriented countries in the world – despite laying the groundwork for today’s globalized system” from The Conversation 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” 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 [email protected] 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” 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 [email protected] 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” 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.