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• How are companies handling tariffs? Exactly like we predicted

  The Trump administration is hoping tariffs will spur companies to bring manufacturing back to the United States. But a new survey from the Federal Reserve Bank of Dallas found that most companies are planning to deal with tariffs another way. (Spoiler alert: we totally saw this coming!) We’ll also discuss how the Department of Homeland Security is hoping to cut the cost of mass deportations. Plus, did Trump get the idea to reopen Alcatraz from a movie?Here’s everything we talked about today:-Post on Bluesky from Carl Quintanilla-"Tariff Politics; Rent-Stabilized Tenants May See a Rent Hike; Surviving Wall Street; Celebrating NYC's Mexican Communities" from The Brian Lehrer Show -"DHS Announces Historic Travel Assistance and Stipend for Voluntary Self-Deportation" from Department of Homeland Security -"US offers $1,000 stipend to encourage migrants to self-deport" from Reuters-"Mass Deportation: Devastating Costs to America, Its Budget and Economy" from American Immigration Council-"Trump Seems to Have Decided to Reopen Alcatraz Because of a Movie" from The New Republic-"Trump Says He Wants to Reopen Alcatraz as a Functioning Prison" from The New York Times-"Met Gala 2025: Highlights from exhibit of Black style and designers" from AP News  -​"'Tailoring Black Style': Dandyism shines at the 2025 Met Gala" from NPRGot a question for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

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• Economics on Tap: Airport Edition

  On today’s episode, Kimberly joins "Economics on Tap" from the Toronto airport. We’ll unpack President Trump’s elimination of a tariff loophole known as the de minimus exemption that went into effect today, meaning low-cost shipments will no longer enter the United States tariff-free. Without it, Americans could start to feel some serious tariff pain. And, President Trump is renewing threats to revoke Harvard University’s tax-exempt status. Plus, we’ll play a round of Half Full/Half Empty.Here’s everything we talked about today:-"Trump's tariffs come for fast fashion, and the blowback could be fierce."  from Politico -"Harvard President Says Any Move to Revoke Tax-Exempt Status Would Be ‘Highly Illegal’" from The Wall Street Journal -"Trump aims to cut $6 billion from NASA budget, shifting $1 billion to Mars-focused missions" from CNBC-"Visit this store for a free iris scan to ‘prove’ you’re human, not AI" from The Washington Post-"MoviePass’ Next Big Bet: A Fantasy Box Office App" from The Hollywood Reporter-"A little retirement, as a treat" from MarketplaceGot a question for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

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• Buy less, pay more?

  This week, President Trump acknowledged his tariffs were resulting in costlier items in the U.S., but maintained his position that China was taking the majority of the heat. If people can’t afford to buy as much, might that be a recipe for recession? We’ll discuss, and answer a listener’s question on what exactly is a recession. Plus, how uncertain economic conditions might make someone reconsider a luxury cheese purchase.Here’s everything we talked about today:- Recession defined by the U.S. Bureau of Economic Analysis (BEA)- “Trump says US kids may get '2 dolls instead of 30,' but China will suffer more in a trade war” from the Associated Press- WATCH: “Trump says kids may get '2 dolls instead of 30' because of trade war with China” from the Associated Press- “Trump, on Tariffs, Says ‘Maybe the Children Will Have 2 Dolls Instead of 30’” from The New York Times- “Spending by American companies on computers in Q1 grew at the fastest pace since 1983” by Marketplace- Check out the Canadian cheese shop Kimberly mentions in this episodeJoin us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

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• What’s driving the GDP slowdown?

  The Commerce Department reported the U.S. economy contracted by 0.3% in the first quarter of this year. We’ll break down the GDP math formula and dig into what the latest report says about where the US economy may be headed. And, should businesses be transparent about the impact of tariffs on prices? A nixed plan from Amazon serves as a cautionary tale of the political risks. Plus, feeling stressed these days? Cow cuddling and bee therapy might help.Here’s everything we talked about today:-"Trump blames Biden after GDP shrinks in first quarter, says growth will 'take a while'" from CNBC -"Businesses weigh how much to tell customers about tariffs' impact on price" from Marketplace-"Trump-Bezos call sets stage for tense earnings report from Amazon" from CNBC-"Trump vs. Amazon’s Brilliant Tariff Idea" from The Wall Street Journal -"The Americans Fled Vietnam 50 Years Ago. I Visited the Buildings They Left Behind."  from The New York Times"Anxious about the world? Cow cuddling or bee buzzing might help ease your stress" from The Denver PostGot a question for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

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  10:38
• The Canadian economy goes “elbows up”

  After declaring victory in yesterday’s Canadian election, Prime Minister Mark Carney said the “old relationship” with the United States is over. Over the past few months, President Donald Trump’s on-and-off tariffs and repeated annexation threats have caused Canadians to reconsider the United States as its leading trading partner and ally. But Patricia Goff, professor of political science at Wilfrid Laurier University, said the idea of disentangling the two economies is unrealistic. On the show today, Goff explains how Trump’s tariffs and annexation threats influenced the Canadian election, how Canadian industries are navigating the trade war, and what this all could mean for the future of the U.S.-Mexico-Canada trade agreement.Plus, we’ll hear a pitch for a new “Make Me Smart”-themed rear window sticker. And, what one psychologist got wrong about burnout. Here’s everything we talked about today:"Trump knows exactly what he just triggered in Canada" from CBC News"Liberal Bruce Fanjoy topples Pierre Poilievre in Carleton" from CBC News"Canada-U.S. Relations Continue to Reach Lows Over Tariffs and Annexation Threats" from The New York Times"Mike Myers Is Ready to Defend Canada" from The New York Times"Canada says its friendship with the US is ‘over.’ Now what?" From Politico "The future of the USMCA" from the Peterson Institute for International EconomicsWe want to hear your answer to the Make Me Smart question. Email [email protected] or leave us a voicemail at 508-U-B-SMART.

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