Marketplace Morning Report With David Brancaccio

The White House triggered a sharp increase in tariffs on imported metals on Wednesday. The tax at the border is now 50%. But one trading partner got an exemption: the UK. Our BBC colleague Leanna Byrne joins us to explain. Also on the program: federal funding cuts hit the arts. We check in with the Brooklyn Conservatory of Music after the nonprofit lost its NEA grant.

Microsoft has unveiled a weather forecasting approach that makes its predictions using artificial intelligence. Google, Nvidia and Huawei are all using AI to try to make weather predictions more precise. And as hurricane season gets underway, we look into what it could mean for the broader economy. But first, how higher steel and aluminum tariffs could hurt U.S. manufacturers.

From the BBC World Service: The U.S. is doubling tariffs on most imported steel and aluminum, raising them from 25% to 50%. The stakes are extremely high — around one quarter of all steel and half of all aluminum used in the U.S. is imported. Meanwhile, the European Commission is unveiling its 2026 budget proposal, and Wednesday marks the deadline the U.S. has set for countries to provide their best offer on trade negotiations. Plus, on International Cheese Day, we hear how Gen Z's tastes are changing.

Money borrowed for hospitalization is seen by many as different from paying what you owe for consumer goods: The debt is seldom from discretionary spending. The Biden-era Consumer Financial Protection Bureau had moved to protect credit scores from medical debt, but the agency is now reversing course. A nonprofit called Undue Medical Debt, led by CEO Allison Sesso, works to pay off people's medical debt as a charitable endeavor. But first, Trump's spending bill moves to the Senate.

"This Old House Radio Hour" — now a radio show and a podcast — helps listeners tackle home projects both big and small. "Marketplace Morning Report" host David Brancaccio is on that program this week, talking about the process of rebuilding his Altadena home after it was destroyed by the January wildfires.

The world will see lower economic growth due to tariffs and tariff uncertainty, according to the OECD. Global economic growth will fall below three percent this year, and the slowdown is expected to be most concentrated in the U.S., Canada, Mexico and China. Also on the program: how steel and aluminum tariffs could drive up grocery prices, and the economic pros and cons of a small-market NBA Finals.

From the BBC World Service: The global economy is losing steam, according to the OECD, which now forecasts growth to fall to just 2.9% this year and next. The Paris-based Organization for Economic Co-operation and Development — which represents most of the world’s advanced economies — issued its warning as trade tensions between the U.S. and China continue to grow.

As the GOP tax and spending bill moves through Congress, questions about the U.S. debt have not gone away. Over the weekend, Treasury Secretary Scott Bessent said the U.S. would never default on its debt. But the U.S. doesn't have to actually default in order to lose the confidence of investors, who would in turn charge the U.S. more to borrow. Plus: Why Gen X is finding it harder to save for retirement.

Tensions are once again escalating between the world's two largest economies. Last week, President Trump accused China of violating the terms of the trade truce, with the U.S. Trade Representative accusing China of restricting the flow of critical minerals. And on Monday, China accused the U.S. of violating the agreement with new restrictions on the export of U.S. computer chips. Also on today's show: why non-alcoholic beer is on the rise and what to know about the proposed "Trump Accounts" for newborns.

From the BBC World Service: Britain will boost its nuclear-powered attack submarine fleet to move to a state of "warfighting readiness,” as Prime Minister Keir Starmer declined to set a precise date for when UK defense spending would hit 3% of GDP.

It's not a merger, but the two airlines are teaming up. JetBlue and United announced the partnership, called BlueSky, on Thursday to sell each others’ flights and link up their loyalty programs and more. Plus: Do soccer fans want pre-match entertainment and halftime shows?

Wednesday began with President Trump's sweeping April 2nd tariffs on track. Later that day, those import taxes were ruled illegal. Here on this Friday, that ruling is on hold, with tariffs still in place. Also on the show: Why more parents are struggling financially than just a few years ago, and how consumer spending is shaping this year's summer travel.

From the BBC World Service: China has agreed to start lifting its ban on Japanese fish, almost two years after it blocked imports over the release of treated wastewater from the Fukushima nuclear plant. Russia made more than $25 billion last year exporting fossil fuels to the European Union; that's $4.5 billion more than the E.U. gave Kyiv in aid. The Super Bowl halftime show is iconic, but in soccer, it’s a different picture. European leagues and FIFA are spending big on pre-match entertainment, with halftime shows planned for the next World Cup. But do fans even want it?

Now that a federal trade court has struck down the big package of Trump tariffs — announced in early April on what the president had called "Liberation Day" — the White House promises to appeal. And presidents have other tariff powers, using legal strategies with stronger track records. Plus: hurricane-resilient homes are paying off in Alabama, and a growing number of women are opting for single motherhood over the challenges of dating.

A federal trade court has struck down President Trump's large tariffs package announced in early April. This ruling blocks many – but not all – of the tariffs Trump has imposed in the last few months. But for businesses and consumers, the uncertainty continues. Also in this episode: Elon Musk steps down from DOGE, and the Social Security Administration reduces its workforce.

From the BBC World Service: Shares have risen on Asian and European stock markets after a Federal court ruled that President Trump had overstepped his authority by imposing global tariffs. Also, why Colombia is the most dangerous place in the world to be involved in a labor union.

After more than a year of negotiations, the sale of U.S. Steel to Japanese firm Nippon Steel appears close. And it's expected to give an unusual role to the U.S. government. But first: how offshore wind developers are feeling, and why investors shouldn't tune out the markets this summer.

Bitcoin 2025 — billed as the world's largest event dedicated to the digital currency — kicked off this week in Las Vegas. Among the speakers: Vice President JD Vance and the White House's AI and Crypto Czar, David Sacks. their attendance marks another clear signal of the administration's growing embrace of cryptocurrency. Plus: What happened to corporate pledges made five years ago to help historically Black colleges and universities? We look into how some of those commitments have held up.

From the BBC World Service: The Panamanian government has declared a state of emergency in one province. It comes after U.S. banana giant Chiquita Brands laid off about 5,000 workers following a strike that had stopped production. Prosecutors in Brazil are suing the Chinese EV giant BYD, accusing it and two contractors of human trafficking and slave-like conditions at a factory site. And we take a look at Europe's biggest plant for processing the rare earth minerals a lot of modern technology relies on.

Over the past 40 years, more people have been delaying retirement and working longer. Keeping a job is one thing, but changing jobs becomes harder as you get older. And nearly a quarter of workers aged 50 and over plan to look for a new job this year. Later, our BBC colleagues gain rare access to the facility of a company said to make the world's most advanced microchips.