Marketplace Morning Report Trade deals and tariff deadline looms large
Jul 7, 2025
Countries are racing against a deadline for trade deals with the U.S. to avoid high tariffs previously set to return. The government has hinted that these tariffs may be delayed until August 1. Meanwhile, there’s a troubling rise in bankruptcy filings among those over 65, from 4.5% in 2001 to nearly 19% in 2022, as financial burdens grow. The discussion delves into the challenges of aging, reliance on Social Security, and the impact of modern debt trends like 'Buy Now, Pay Later' on retirees.
AI Snips
Chapters
Books
Transcript
Episode notes
Impact of US Tariffs Rising
- U.S. tariffs are already around a 10% universal rate, with higher rates on China, causing about $300 billion in annual tariff revenue.
- Increasing tariffs further will raise costs for U.S. companies and consumers, potentially leading to higher prices this summer.
Tariffs Cost Pass-Through Delay
- Tariff costs currently hit firms' profit margins without fully hitting consumer prices yet.
- Consumer price increases driven by tariffs may show up months later, likely over the summer.
Rising Senior Bankruptcies Rates
- Bankruptcy filings among Americans 65+ have surged from 4.5% in 2001 to nearly 19% in 2022.
- Key causes include longer lifespans, loss of pension benefits, fixed incomes, and rising healthcare costs.
