Marketplace Morning Report Reflecting on the year in tariffs
Apr 2, 2026
Tomás Piskorski, Columbia Business School finance professor who studies private credit funds, and Kimberly Adams, a Washington trade reporter, discuss how tariffs over the past year affected small businesses and lobbying. They also explore the structure and risks in the private credit market. Short, topical conversations that trace real-world costs and financial stability questions.
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Small Business Hit By Tariff Price Spike
- Small businesses bore the tariff pain firsthand with higher input costs.
- Justine Khan of Botnia says a $10,000 order became $15,000 after tariffs on oils, packaging and herbs, squeezing margins.
Half Rate Tariffs Still Hurt The Economy
- The enacted tariffs were roughly half the initially threatened rates, muting but not eliminating harm.
- Economists say higher prices still hit many sectors, damaged ally relations, and produced few promised domestic gains.
Tariffs Trigger Sixfold Lobbying Surge
- Tariff policy spurred a lobbying surge as firms sought exemptions and protection.
- Scott Lincecum at Cato documents a six-fold rise in trade lobbying tied to companies trying to avoid tariff costs.