Marketplace Morning Report

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.

Bradley Saunders, a North America economist who analyzes markets and energy prices, and Noah Smith, an economist and writer on economic policy and industry, discuss market reactions and oil price movements. They dive into BYD’s global EV push and how U.S. tariffs block Chinese electric cars. They debate whether allowing those EVs could spur battery demand and reshape manufacturing.

Samantha Fields, Marketplace reporter who covers energy and travel, explains how surging jet fuel is reshaping airfares and airline decisions. She talks about rising fuel surcharges, premium-traveler demand, and how Asia is uniquely hit by Middle East supply shocks. The conversation also covers refinery limits, short-term energy alternatives, and broader growth risks.

Will Grant, BBC correspondent covering Mexico, Central America and Cuba, reports on crippling blackouts and how a Russian oil delivery offers a short-term lifeline. Marissa Mazria-Katz, journalist who covered Boston's trade school, profiles students learning piano-tuning, locksmithing and violin-making. The conversation shifts between Cuba's energy strain and hands-on trades building durable careers.

Kaylee Wells, Marketplace reporter on car markets and consumer finance, explains why many trade-ins are underwater. Justin Ho, Marketplace reporter on policy and economics, links rising gas to how tax changes affect spending. Nova Saffo, Marketplace reporter on energy, reports gasoline topping $4 and the household and diesel-industry effects. They discuss fuel prices, consumer behavior, refunds, and auto loan strain.

William Frey, demographer at Brookings studying U.S. population shifts. Julia Coronado, macroeconomist and policy analyst at UT Austin. They discuss falling internal migration, who still moves and why, whether wealthy people relocate for tax reasons, and how war-related supply risks could ripple through markets.

Kaylee Wells, a science and industry reporter, details looming helium shortages and how supply-chain snarls could stall medical MRI and chip work. Nova Saffo, an energy reporter, maps rising oil prices and the risk of new supply disruptions from Red Sea attacks and pipeline rerouting. Short, focused reports on fragile supply lines and global impacts.

The U.S. national debt crossed $39 trillion last week, and it’s growing fast. Racking up the most recent $5 trillion of that total only took two years. Now, a new survey finds that Americans' fiscal confidence is the lowest it’s been in a couple of years. Also on this morning's show: Anthropic gets a (temporary) win in its fight with the Pentagon, and commuters reflect on two years without Baltimore's Francis Scott Key Bridge.

Lori Wallach, director of Rethink Trade and trade policy expert, breaks down what went wrong with the USMCA. She discusses why it failed to revive U.S. manufacturing and rising trade deficits. Topics include where negotiations stand, Mexico’s low wages, Canada’s EV policies, and political prospects for renegotiation.

Nara Sreetaran, research analyst at AidData who studies remittances, and Jane Foley, head of FX strategy at Rabobank offering market color. They explore a proposed 1% remittance levy and how it raises transfer costs and shifts behavior. They also dig into why the U.S. dollar is strengthening, safe-haven flows, liquidity, and where investors are parking cash.