Marketplace Morning Report The end of 'de minimis' exemption, four months on
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Dec 26, 2025 This edition features a diverse collection of experts, including economist Diane Swank, who delves into the surge in precious metals amid policy uncertainty. Henry App discusses Nvidia's innovative licensing deal with Grok, shedding light on how tech firms collaborate with startups. William Lee Adams explains the significant impact of ending the de minimis exemption, which has spurred profits for logistics companies but hit small businesses hard. Guests share personal stories of lost sales and rising prices, illustrating the real-world effects of this policy change.
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Central Banks Are Buying Gold, Not Treasuries
- Precious metal prices surged as central banks shifted into gold and away from U.S. treasuries.
- The dollar weakened amid policy uncertainty, boosting demand for metals as alternative reserves.
Dollar Weakness Reflects Overvaluation And Uncertainty
- The dollar's decline reflects an unwinding of prior overvaluation and policy-driven uncertainty.
- Currency doubts amplify perceptions of geopolitical and trade risk, lifting safe-haven assets.
Big Tech Licenses AI To Avoid Full Acquisitions
- Large tech firms license startup AI tech and hire leaders to gain capability without full acquisitions.
- NVIDIA's non-exclusive deal with Grok follows a trend of licensing plus talent moves to avoid heavy regulatory scrutiny.