The NPR Politics Podcast Another Turn In Trump's Economic Policy
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May 23, 2025 Scott Horsley, NPR's chief economics correspondent, delves into recent tariff threats from President Trump, notably 50 percent on EU imports and non-U.S. iPhones, sparking market volatility. He analyzes the potential impact on consumers and businesses amid shifting trade dynamics. The discussion also highlights challenges in bringing manufacturing jobs back to the U.S., including consumer willingness to pay more for domestic products. Finally, the emotional farewells reflect on the importance of journalism and the connections built over the years.
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Trump's New Tariff Threats
- President Trump announced plans to impose 50% tariffs on European imports and 25% tariffs on iPhones if Apple doesn't manufacture in the U.S.
- These tariff threats create market volatility as investors react to uncertainty about trade policy.
Debt Impact on Borrowing Costs
- The bond market's volatility reflects worries about U.S. government debt and Moody's downgrade of the credit rating.
- Rising government debt can lead to higher borrowing costs for consumers through higher interest rates.
Tax Cuts Limited Political Appeal
- The tax cut bill passed by the House extends 2017 tax cuts but offers little new benefit for average taxpayers.
- Democrats criticize it for increasing the deficit and cutting social programs while benefiting the wealthy.