Slate Money The Nespresso Tariffs
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Aug 2, 2025 Nathan Bomey, a business reporter at Axios and author of Axios Closer, dives into the tension between sports and gambling. He discusses how the sports betting boom threatens the integrity of major leagues and ponders if this controversy truly matters. The conversation also touches on the impact of recent tariffs on global trade, particularly their effect on luxury goods and job growth in the U.S. Amid all this, there's a playful look at sports as both genuine competition and an entertainment spectacle.
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Tariffs Based on Trade Deficits
- The Trump administration sets tariffs based on trade deficits without regard to existing trade agreements.
- This method leads to arbitrarily high tariffs on countries like Switzerland and Brazil.
Jobs Report vs Tariff Impact
- The recent poor jobs report suggests the US economy is struggling despite tariffs not being high enough to derail it.
- Tariffs likely contribute only partially to economic weakness amidst a complex labor market.
Immigration Shapes Job Market
- Hiring weakness is driven more by immigration slowdown than tariffs.
- Native-born Americans do not generally compete for the low-skill jobs that immigrants hold.