Marketplace Morning Report Tariffs and economic growth, both globally and at the checkout line
Jun 3, 2025
Tariffs are set to dampen global economic growth, particularly affecting the U.S., Canada, Mexico, and China. The OECD warns that uncertainties around tariffs on steel and aluminum could lead to higher grocery prices, impacting consumer budgets. Additionally, the podcast dives into how the NBA's salary cap creates competitive balance, allowing smaller market teams to compete with wealthier franchises, while also addressing the challenges posed by declining viewership.
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Tariffs Slow Global Growth
- The OECD forecasts global economic growth below 3% this year due to tariffs and trade uncertainty.
- The slowdown impacts mostly the U.S., Canada, Mexico, and China, with inflation risks rising from tariffs.
OECD's Advice to Policymakers
- Policymakers should collaborate internationally to prevent tariff increases.
- Encouraging manufacturers to diversify supply chains can help mitigate tariff risks.
Tariffs Raise Grocery Prices
- Steel and aluminum tariffs increase costs for packaged goods like canned food, soda, and pet food.
- Rising material costs can cause higher prices across grocery items beyond just canned goods.