cover of episode How pre-tariff spending could affect household budgets down the line

How pre-tariff spending could affect household budgets down the line

2025/5/12
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Marketplace Morning Report

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Jennifer Pak
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Kristen Schwab
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Sabri Beneshour
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Savannah Peters
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Sabri Beneshour: 我报道了美中之间达成的为期90天的临时关税削减协议,这项协议涉及价值超过5000亿美元的商品贸易。协议中,美国将把对大多数中国出口商品的关税从145%降至30%,中国则将把对所有美国商品的关税从125%降至10%。虽然这为两国企业和消费者带来了积极的预期,但90天的关税减免仍然难以让企业制定长期的计划,因为产品制造和运输需要时间,最终关税是否与最初预算相同存在不确定性。 Jennifer Pak: 我在上海报道了这项协议,并补充了关税减免协议的细节。我提到,在四月,中国对美国的出口同比下降了21%,而美国对中国的出口下降了14%。关税的减少将从周三开始,贸易谈判也将继续进行。 Kristen Schwab: 我报道了在关税生效前,企业和消费者抢购商品的情况,导致许多消费品公司的销售额上升。许多汽车广告都在宣传关税前的价格,经销商也鼓励消费者现在购买。各行业的公司都在警告说,价格会上涨,库存会下降,这会引发消费者的稀缺心态,尤其对于电子产品和家电等大件商品。消费者更容易关注眼前的成本和节省,而忽略长期对钱包的影响,提前囤货可能会导致超支或负债。 Savannah Peters: 我报道了特朗普政府的政策对部落经济的影响,包括联邦拨款被冻结、联邦合同被取消以及相关机构的裁员。部落领导人反映了联邦拨款被冻结、联邦合同被取消以及相关机构裁员等问题。虽然每次政府更迭都会带来变化,但重要的是如何实施这些变化。部落领导人由于政治环境风险而不愿公开谈论他们面临的问题,普遍的感受是混乱。联邦政府对部落的支持有时会被卷入特朗普的反多元化、公平与包容运动,但这与政府对部落的条约义务是不同的。特朗普政府对部落关系的立场不明确,这种不确定性本身就存在问题,可能会阻碍部落经济的增长。部落与最重要的经济伙伴的关系不明确,这与其他国家的情况类似。

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From Marketplace, I'm Sabri Beneshour, in for David Brancaccio. The U.S. and China have agreed to temporarily cut tariffs on each other's exports for 90 days while they figure out a trade deal. At stake is over $500 billion worth of goods traded between the two countries. U.S. Treasury Secretary Scott Besson said neither side wants to decouple. U.S. market futures surged after the announcement. So did Chinese markets. Marketplace's China correspondent Jennifer Pak has more from Shanghai.

The move is in line with expectations of exporters and consumers in both the U.S. and China, says the Chinese Commerce Ministry. Under the agreement, U.S. tariffs on most Chinese exports will be cut from 145% to 30%, plus any pre-existing duties.

while China will drop tariffs on all American goods from 125% to 10%. This is on top of the 10% to 15% retaliatory duties on certain American exports, such as coal and agricultural products. But a 90-day tariff reprieve still doesn't make it easy for businesses to plan. It takes weeks to manufacture products and even longer to ship goods.

Once the products arrive on each country's shores and when tariffs are collected, businesses worry, would the final tariffs be the same as originally budgeted? In April, Chinese exports to the U.S. dropped by 21% year-on-year, while American exports to China dropped 14%. The tariff reduction will start on Wednesday as trade talks continue. In Shanghai, I'm Jennifer Pak for Marketplace.

And for months before this announcement, businesses tried to stockpile goods before tariffs hit. So did many consumers. From Apple to Audi, consumer goods companies have been reporting rising sales. Marketplace's Kristen Schwab has more on how this rush to spend early affects household budgets down the line.

David Swartz has been seeing quite a few car commercials promoting pre-tariff pricing. Even like local dealers were clearly encouraging people to buy now and not wait till later.

Swartz, a senior analyst at Morningstar, says companies in all kinds of sectors are warning that prices will go up and inventory will go down. And that triggers a scarcity mindset in consumers, says Dan Blanchard at the Yale Center for Customer Insights. This idea that you need to get it before it's gone. Especially for big ticket items like electronics and appliances. Blanchard says if you're planning to buy something in the next few months, it does make sense to buy it now. But don't get too caught up

In stocking up, it's easier for consumers to disproportionately focus on immediate costs and savings than it is to think about the long-term effects on their wallets. Throwing off the budget or going into credit card debt to save now could cost more down the line, especially if there's an economic downturn. I'm Kristen Schwab for Marketplace.

President Donald Trump announced Sunday that he plans to sign an executive order later today that would aim to bring down the cost of some medications in the U.S. by tying them to prices charged in other countries. Trump tried something similar in his first term, but the effort was blocked by federal courts. This Marketplace podcast is supported by GoFundMe Pro. Over the past 15 years, the fundraising platform Classy has helped nonprofits reach more supporters and raise more money.

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Federal government budget cuts under the Department of Government Efficiency have been deep and sweeping, as we have reported. And this week, we get a look at how cuts are playing out in Indian country. A new survey from the National Center for American Indian Enterprise Development details how policies in the first few months of the Trump administration are affecting tribal economies. Marketplace's Savannah Peters has more.

The National Center has been working to help more tribally run businesses reach global markets. Under the Biden administration, it got some funding to support that work. We were on a five-year grant for our export center. We were on year four. Year five was just canceled. And without really explanation. Chris

Chris James is president and CEO of the National Center. He says that cancellation came after the Trump administration slashed staff at the Minority Business Development Agency. We knew that might have been coming down the pipeline, but actually getting the notifications is, you know, it was very real. He says he's hearing from tribal leaders all around the country with similar experiences.

In their survey responses, they talked about federal grants that support vital services getting frozen, federal contracts that tribes were counting on to bring in revenue abruptly canceled, and layoffs at agencies they work closely with. With every administration, there are changes.

How those changes are implemented is a big thing. A lot of times we would like to see things done with a scapel instead of a chainsaw. None of the tribal leaders Marketplace reached out to were willing to talk on the record in what they see as a risky political environment. Mikayla Madrid is with the nonprofit Native Governance Center, which has been helping tribes navigate the change of administration. Just kind of the general theme has been chaos.

One thing she's noticed and that came up in the survey, federal funding and programs that support tribes sometimes getting swept up in Trump's anti-DEI push. That is concerning because Native nations and citizens of tribal nations are not under the diversity, equity, and inclusion umbrella. Instead, Madrid says the federal government's obligations to tribal nations are based in treaties.

But this second Trump administration has offered mixed messages on how it views its relationship with tribes, says economist Randall Aki at UCLA. This uncertainty is problematic in and of itself. If the uncertainty persists, Aki says it could stall growth in tribal economies. Tribal nations and governments are going through their days without knowing whether or not something is going to change. And that changes how they plan and forecast and invest. Just

Just like other nations, tribes aren't sure where they stand with their most important economic partner. I'm Savannah Peters for Marketplace. And in New York, I'm Sabree Beneshour with the Marketplace Morning Report from APM American Public Media.

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