Episodios

  • Are Trump's tariffs legal?

    Are Trump's tariffs legal?
    Jun 11 2025
    When President Trump announced his sweeping new tariffs this year, many trade law experts were startled. Typically, presidents don't have the authority to impose broad tariffs with a snap of their fingers.

    But Trump's advisors have an unusual new legal theory. They say that as long as there's a national emergency of some kind, Trump may be able to create whatever tariffs he wants. This is a creative interpretation of a 1977 law called the International Emergency Economic Powers Act, or IEEPA. To justify his latest tariffs, the president declared national emergencies involving illegal immigration, the fentanyl crisis, and the trade deficit.

    But no president has ever tried to use the law in this way.

    Now, the fate of Trump's tariffs — and the creative legal theory behind them — lies with the courts. About a dozen lawsuits have challenged his tariffs, claiming that they are unlawful and possibly even unconstitutional. And some judges have started to agree.

    On today's show: What are the President's powers when it comes to tariffs? Where do they come from? What are their limits? And, what will be the fate of Trump's tariffs?

    For more on Trump's tariffs:
    - The 145% tariff already did its damage
    - Do trade deficits matter?
    - What "Made in China" actually means

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    25 m
  • When Chinese manufacturing met Small Town, USA

    When Chinese manufacturing met Small Town, USA
    Jun 6 2025
    Over the past decade, politicians from both parties have courted American voters with an enticing economic prospect – the dream of bringing manufacturing and manufacturing jobs back to America. They've pushed for that dream with tariffs and tax breaks and subsidies. But what happens when one multinational company actually responds to those incentives, and tries to set up shop in Small Town, USA?

    Today on the show – how a battery factory ignited a political firestorm over what kind of factories we actually want in our backyard. And what happens when the global economy meets town hall democracy.

    This episode of Planet Money was produced by Emma Peaslee and Sylvie Douglis. It was edited by Marianne McCune and fact checked by Sierra Juarez. It was engineered by Robert Rodriguez. Alex Goldmark is our executive producer.

    Read Viola Zhou's reporting on the Gotion battery factory.

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    Music: NPR Source Audio - "Collectible Kicks," "Arturo's Revenge," and "Liquid Courage"

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    31 m
  • Trump's crypto interests (Two Indicators)

    Trump's crypto interests (Two Indicators)
    Jun 4 2025
    Today on the show – our crypto president. Just before President Donald Trump began his second administration in January, he and his business partners launched the $TRUMP coin. It's a memecoin that quickly raked in hundreds of millions of dollars. And there's a lot of earning potential still left on the table. Is that even legal?

    We bring you two stories from our daily show, The Indicator about President Trump and his ties to crypto. First, the Trump coin. We explain what it is, how the real Donald Trump profits from it, and yes, whether this whole crypto scheme is within the law. Then we take a look at Stablecoins: how they work, how they make money, and for whom.

    The original episodes from The Indicator were produced by Cooper Katz McKim and Corey Bridges. They were engineered by Harry Paul and Robert Rodriguez. They were fact-checked by Sierra Juarez. Kate Concannon edits the show. This episode of Planet Money was produced by James Sneed and edited by Emma Peaslee. Alex Goldmark is Planet Money's executive producer.

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    18 m
  • The U.S.-China trade war, according to game theory

    The U.S.-China trade war, according to game theory
    May 30 2025
    Over the last few months U.S.-China trade relations have been pretty hard to make sense of – unless you look at what's happening through the lens of game theory. Game theory is all about how decisions are made, based not just on one side's options and payoffs, but on the choices and incentives of others.

    So, are Donald Trump and Xi Jinping competing in a simple game of chicken? Or is the game more like the prisoner's dilemma? On today's show, we try to decide which of four possibilities might be the best model for this incredibly high-stakes game. And we take a look at who is playing well and who might need to adjust their strategy.

    For more on the U.S.-China trade war:

    - The 145% tariff already did its damage
    - What happened to U.S. farmers during the last trade war
    - What "Made in China" actually means

    This show was hosted by Keith Romer and Amanda Aronczyk. It was produced by Sam Yellowhorse Kesler. It was edited by Jess Jiang, fact-checked by Sierra Juarez and engineered by Kwesi Lee with help from Robert Rodriguez and Cena Lofreddo. Additional production help from Sylvie Douglis. Alex Goldmark is Planet Money's executive producer.

    Find more     Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.

    Listen free at these links:     Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.

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    28 m
  • Why does the government fund research at universities?

    Why does the government fund research at universities?
    May 28 2025
    American universities are where people go to learn and teach. They're also where research and development happens. Over the past eight decades, universities have received billions in federal dollars to help that happen. Those dollars have contributed to innovations like: Drone technology. Inhalable Covid vaccines. Google search code.

    The Trump administration is cutting or threatening to cut federal funding for research. Federal funding for all kinds of science is at its lowest level in decades.

    Today on the show: when did the government start funding research at universities? And will massive cuts mean the end of universities as we know them?

    We hear from the man who first pushed the government to fund university research and we talk to the chancellor of a big research school, Washington University in St. Louis. He opens up his books to show us how his school gets funded and what it would mean if that funding went away.

    This episode is part of our series Pax Americana, about how the Trump administration and others are challenging a set of post-World War II policies that placed the U.S. at the center of the economic universe. Listen to our episode about the reign of the dollar.

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    27 m
  • The secret world behind those scammy text messages

    The secret world behind those scammy text messages
    May 23 2025
    You might have seen these texts before. The scam starts innocently enough. Maybe it's a "Long time no see" or "Hello" or "How are you." For investigative reporter Zeke Faux it was – "Hi David, I'm Vicky Ho. Don't you remember me?"

    Many people ignore them. But Zeke responded. He wanted to get scammed. This led him on a journey halfway around the world to find out who is sending him random wrong number texts and why. After you hear this story, you'll never look at these messages the same way again.

    To hear the full episode check out Search Engine's website.

    Search Engine was created by P.J. Vogt and Sruthi Pinnamaneni. This episode was produced by Garrott Graham and Noah John. It was fact-checked by Sean Merchant. Theme, original composition, and mixing by Armin Bazarian. Search Engine's executive producers are Jenna Weiss-Berman and Leah Reis-Dennis.

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    Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.

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    34 m
  • How economists (and TikTok) know if a recession is coming

    How economists (and TikTok) know if a recession is coming
    May 21 2025
    Lately we've noticed that something we think about all the time here at Planet Money is having a viral moment: recession indicators!

    From the more practical (like sales for lipstick going up and men's underwear going down) to the absurd and nonsensical (like babysitter buns coming back into style?) — people are posting to social media every little sign they see that a recession is coming. And we LOVE it. Because between the trade war and the tariffs and the stock market, there has been a lot of economic uncertainty over the last few months and we want to talk about it, too.

    Today on the show — we dig into the slightly wonkier indicators that economists look at when they're trying to answer the question behind the viral internet trend: Is a recession coming?

    This episode of Planet Money was produced by James Sneed. It was edited by Marianne McCune, fact-checked by Sarah McClure, and engineered by Cena Loffredo. Alex Goldmark is our executive producer.

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    Music: Source Audio - "The Shirt Still Fits," "Chameleon Panther Style," and "Nighthawk."

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    24 m
  • The 145% tariff already did its damage

    The 145% tariff already did its damage
    May 16 2025
    Even though the 145% tariff on Chinese imports only lasted a month, it already inflicted its scars on the economy. Global trade is just not something you can turn off and on like that.

    Some companies got really unlucky. Like those whose goods arrived at U.S. ports before the pause. If a medium size company had a million dollars worth of goods imported, they had to pay an extra million and a half dollars on top of that – just for the tariff.

    Today we are bringing you a portrait of this unfathomably high tariff. What a month of 145% tariffs looked like and felt like for three people in the global economy whose lives were all affected and still will be. The ones who got lucky and the ones who got really unlucky.

    This episode of Planet Money was produced by Emma Peaslee and edited by Jess Jiang. It was engineered by Jimmy Keeley and fact-checked by Willa Rubin. Alex Goldmark is our executive producer.

    Check out the live cargo map here.

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    Music: NPR Source Audio - "Bass Talks," "Bassline Motion," and "What Da Funk"

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    27 m
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