This episode of Planet Money explores the economic impact of a short-lived 145% tariff on Chinese imports. It follows the experiences of a port director, a small business owner, and a shipping logistics expert, illustrating the disruptions and challenges caused by trade policy changes. The episode examines how tariffs affect supply chains, manufacturing decisions, and consumer prices, revealing the complexities of global trade.
The U.S. exports billions of dollars worth of agricultural products each year — things like soybeans, corn and pork. And over the last month, these exports have been caught up in a trade war. U.S. farmers have been collateral damage in a trade war before. In 2018, President Trump put tariffs on a bunch of Chinese products including flatscreen TVs, medical devices and batteries. But China matched those tariffs with their own retaliatory tariffs. They put tariffs on a lot of U.S. agricultural prod...
This episode explores the U.S. dollar's role as the world's reserve currency, examining its historical dominance and the factors that contribute to its status. It discusses the benefits and drawbacks of this position for the United States, and considers potential alternatives to the dollar, such as the Euro, Renminbi, and even Bitcoin. The episode questions whether the dollar's reign is ending and what the implications would be for the global economy.
Virtually every product brought into the United States must have a so-called "country of origin." Think of it as the official place it comes from. And this is the country that counts for calculating tariffs. But what does it really mean when something is a "Product of China"? How much of it actually comes from China? And how do customs officials draw the line? Here in the U.S., the rules are delightfully counterintuitive. A product's country of origin is not necessarily where that product got on...
This Planet Money episode explores the history of public and pay toilets in the U.S., investigating why it's often so difficult to find a restroom. It recounts the movement to ban pay toilets in the 1960s and 70s, and how their disappearance led to a decline in free public restrooms. The episode further examines the economic and social implications of limited public access to toilets, and explores potential solutions, considering whether toilets should be viewed as a public good.
On today's show: we're ... venting. We at Planet Money are an ensemble show – each with different curiosities and styles. But we recently realized many of us have something in common: We're annoyed consumers. So we're going to get ranty ... but then try to understand the people annoying us. Like stingy coffee shops, manufacturers that don't design things for repair ... and stores that send way too many emails every day. Along the way, we learn a very sad thing about satisfaction and the future o...
Reporter Alexi Horowitz-Ghazi's Aunt Vovi signed up for 23andMe back in 2017, hoping to learn more about the genetic makeup of her ancestors. Vovi was one of over 15 million 23andMe customers who sent their saliva off to be analyzed by the company. But last month, 23andMe filed for bankruptcy, and it announced it would be selling off that massive genetic database. Today on the show, what might happen to Vovi's genetic data as 23andMe works its way through the bankruptcy process, how the bankrupt...
President Donald Trump has been loudly critical of Federal Reserve Chair Jerome Powell for years now. Since January, the President has accused him of playing politics by keeping interest rates high. Trump has also threatened to oust Powell — which would mark an extraordinary shift away from the independence of the central bank. Today on the show, three Indicators: a short history of the Federal Reserve and why it's insulated from day-to-day politics; how the Fed amassed a ton of power in recent ...
Planet Money tackles the challenge of fairly distributing a colleague's surplus of cheap, farm-fresh eggs. They explore methods from new product development and development economics to determine who values the eggs most. The team implements blinded surveys and a pricing game show to uncover true egg enthusiasts and allocate the scarce resource.
OIRA — the Office of Information and Regulatory Affairs — is an obscure, but powerful federal office around the corner from the White House. President Trump has decided that it should get even more powerful. For the last 45 years, OIRA has overseen most federal agencies by reviewing proposed regulations to make sure they agree with the President's policies and don't conflict with the work of other agencies. But one set of federal agencies has always been exempt from this review process — indepen...
This episode explores how a Canadian small business, Nut Hut, is navigating the complexities of the US-Canada trade war. Owner Alex Rodrigues faces challenges as tariffs threaten her relationships with American suppliers, particularly pecan farmer Shirley in Arkansas. The episode delves into the impact of retaliatory tariffs and the "Buy Canadian" movement, highlighting the difficult choices businesses and consumers face in a globalized economy.
This episode of Planet Money investigates trade deficits, prompted by listener questions and new tariffs. It explores how trade deficits are calculated, their potential impacts, and whether they signify economic problems or opportunities. Featuring economist Kenneth Rogoff, the episode discusses foreign investment, the complexities of global trade, and the importance of analyzing the underlying factors contributing to trade imbalances.
Ever wondered why you can buy fresh Peruvian blueberries in the dead of winter? The answer, surprisingly, is tied to cocaine. Today on the show, we look at how the War on Drugs led to an American trade policy and a foreign aid initiative that won us blueberries all year round. And for more on trade and tariffs check out Planet Money's homepage . We've got articles looking at how much the new tariffs will raise prices and shows on everything from diamonds to potatoes to why you bought your couch ...
This episode of Planet Money explores the controversial topic of tariffs, examining arguments for and against their use. It features an interview with economist Ha-Joon Chang, who advocates for protectionist policies, and delves into the Trump administration's perspective on tariffs as a tool to correct trade imbalances and bring back manufacturing jobs. The episode also analyzes the potential economic and political implications of tariffs, including their impact on consumers and international relations.
Earth can sustain life for another 100 million years, but can we? This episode, we partner with Radiolab to take stock of the essential raw materials that enable us to live as we do here on Earth — everything from sand to copper to oil — and tally up how much we have left. Are we living with reckless abandon? And if so, is there even a way to stop? A simultaneously terrifying and delightful conversation about bird poop, daredevil drivers, and some staggering back-of-the-envelope math. Radiolab's...
The deal seemed too good to be true. There's a website that's been selling top quality diamonds at bizarrely low prices. Prices we couldn't find at any retail outlet. Prices so low, we could buy a diamond on a public radio budget. So we did. What we got in the mail was a tiny ziploc bag containing a scintillating mystery. On today's show: the Planet Money Diamond (or whatever this sparkly rock turns out to be). We get it analyzed by the experts at the Gemological Institute of America. We investi...
Planet Money explores the complexities of Gross Domestic Product (GDP), the key metric for tracking the economy. The episode delves into a proposal to strip government spending from GDP, examining potential political motivations and implications for economic measurement. Former Bureau of Economic Analysis (BEA) head Steve Landefeld shares insights on historical attempts to influence GDP calculations and the importance of maintaining statistical integrity.
Note: This original episode ran in 2020 . Walter Schramm did everything right as an investor — at least according to the philosophy of Warren Buffett. So how come he lost a small fortune? In this episode, we look into an obscure government program that slurps up forgotten money. We hunt for money we might have left vulnerable and we try to figure out how it got there in the first place so we can tell you where to find the money you've misplaced too. Find more Planet Money : Facebook / Instagram ...
This Planet Money episode, in collaboration with Decoder Ring, explores the history and cultural impact of Tupperware. From its revolutionary product design and sales strategy pioneered by Brownie Wise, to its near-cult status and eventual decline, the story examines themes of gender, class, and the evolution of influencer marketing. The episode further connects Tupperware's legacy to modern trends like restocking videos, highlighting the enduring appeal of organization and the brand's influence on contemporary consumer culture.
If you cut every single federal job President Donald Trump wants to cut, how much money would that save? A president has tried to massively shrink the size of the federal government before. It was in the 90s, under a Democrat. Today on the show: Where they found waste the last time we really looked. (Hint: it wasn't jobs.) And why the pace of firings under Trump might start to slow down. For more: - Lessons for the Future of Government Reform - Is government too big? Reflections on the size and ...
In some ways, starting a bank is a lot like starting any other business. Who will you hire? Where will you be located? What color will the couches be? But it's also way more complicated. There are tons of regulations on banks–and you can understand why. Lots of new businesses fail. But if a bank fails, it can have ripple effects for the entire economy. Today on the show, a baby bank is born. We go along for the ride from idea to ribbon cutting as a community bank gets off the ground. This episod...
Memecoins are having a moment. Everyone from Hawk Tuah to President Donald Trump to animal influencers like Moo Deng the pygmy hippo have been turned into cryptocurrency. But what are the costs of all the hype? On today's show — a modern parable. How an orphaned baby rodent became a world famous animal influencer, became a political martyr, and was finally transmuted into a billion dollar cryptocurrency. It's a tale about how a chance encounter can lead to fame and fortune. But also how all that...
What do Moo Deng the pygmy hippo, social media sensation Hawk Tuah, and the President of the United States all have in common? They've all inspired highly valuable, highly volatile memecoins. The humble memecoin began as a sort of satirical send up of speculation in the crypto world. But it was a joke that soon became very real. In the decade since the launch of Dogecoin in 2013, a series of cultural shifts and technological leaps enabled an explosion in the number of new memecoins. And this mem...
Last year, Tyson Foods shuttered a meat processing plant in Perry, Iowa. The company said it made the decision because the plant was old and inefficient. But the closure was devastating for the residents of Perry. The plant had employed some 1200 workers in a town with a population of only 8000. At the same time, Tyson was also busy hiring workers elsewhere. It was working with a non-profit group that helps connect companies with asylum seekers and refugees looking for work. Tyson ultimately hir...
There's this cautionary tale, in the finance world, that nearly any trader can tell you. It's about placing too much confidence in math and models. It's the story of Long Term Capital Management. The story begins back in the 90s. A group of math nerds figured out how to use a mathematical model to identify opportunities in the market, tiny price discrepancies, that they could bet big on. Those bets turned into big profits, for them and their clients. They were the toast of Wall Street; it looked...
So the president can't spend more money than Congress has agreed and voted to spend. But can the president spend less money than Congress wants? It all comes down to something called "impoundment" and the Impoundment Control Act of 1974, which controls when and how a president can take away money Congress has appropriated. President Trump followed the Impoundment Control Act rules back in 2018. But now, in his second term, he's saying he thinks that law is unconstitutional. On this episode: the ...
There has been chaotic uncertainty around billions of dollars allocated by Congress. The Trump administration ordered a pause on — and review of — certain types of federal assistance. A judge blocked that freeze. But reports continue to emerge that certain parts of the government were not getting their money. As a result, hundreds and hundreds of people have lost their jobs, clinics and daycares across the country have been left wondering if they'll have money to operate, retirees have worried a...
The trip that changed Tigran Gambaryan's life forever was supposed to be short — just a few days. When he flew to Nigeria in February of 2024, he didn't even check a bag. Tigran is a former IRS Special Agent. He made his name investigating high-profile dark web and cryptocurrency cases. Some colleagues called him the 'Crypto Wizard' because of his pioneering work tracing crypto transactions for law enforcement. Since 2021, he's worked at the world's largest crypto exchange, Binance. Tigran was i...
The San Jose was a marvel of 17th century technology. The Spanish galleon weighed more than a thousand tons, was made of wood reinforced with iron, and featured three masts and 64 cannons. In its cargo were gold, silver, silk and porcelain. But in 1708, it sank after a battle with an English ship near what is now Colombia. For centuries, the shipwreck was the stuff of legends, until 2015 when underwater investigators found what they believed to be the San Jose's wreckage. The treasure on board t...
Americans spend more on scratch lottery tickets per year than on pizza. More than all Coca-Cola products. Yet the scratch ticket as a consumer item has only existed for fifty years. Not so long ago, the idea of an instant lottery, of gambling with a little sheet of paper, was strange. Scary, even. So, how did scratch lotteries go from an idea that states wanted nothing to do with, to a commonplace item? It started in a small, super-liberal, once-puritanical state: Massachusetts. Adults there now...
