Marketplace Morning Report With David Brancaccio

The delay of President Trump's 50% tax on European imports gives both sides more time to negotiate a trade deal. But what that agreement will look like remains unclear. And later on the show: foreign aid. We take a look at the U.S. International Development Finance Corporation, why it was spared by the Trump administration and its proposed $3 billion funding boost.

From the BBC World Service: The EU Commission has accused Chinese fashion retailer Shein of using illegal commercial practices to mislead customers. Plus, Taiwan Semiconductor Manufacturing Company is expanding its presence in the U.S., as President Trump looks to boost the economy with more tech manufacturing.

As the Trump administration moves to cut federal funding for public broadcasting, small stations serving rural communities stand to lose the most. We visit a public radio station in southwest Colorado to see what's at stake when and if CPB funding runs dry. And later in the program, we turn to Broadway for a look at two new, Latino-centered musicals.

RSV, a common respiratory virus, can be especially harmful for infants. But this past winter brought promising news: two new preventive measures became widely available — a vaccine given in pregnancy and antibodies given to newborns. Together, they led to a major drop in RSV hospitalizations among infants. Which is good for both families and taxpayers. And in the next installment of our "Buy Now Pay Later" series, we look at tackling credit card debt before retirement.

From the BBC World Service: EU president Ursula von der Leyen, has secured a delay on President Trump’s proposed 50% tariffs on the European Union until 9 July. Plus, Southeast Asian leaders are gathering in Kuala Lumpur for their first meeting since the introduction of President Trump's tariffs.

Should it be the federal government or the states? The GOP tax bill, now headed to the Senate, would have states pick up more of the tab — meaning states would likely have to raise taxes or cut spending. We'll hear more. But first: Tariff drama is back. Then, after the murder of George Floyd, corporate America pledged billions of dollars to help fight racial inequality. How much has actually been spent?

Sales of existing homes fell in April to about 4 million a year. For comparison, almost 7 million existing homes were sold each year from 2020 to 2022. The reasons? Home prices are high, mortgage rates are high, and there's lots of economic uncertainty. And later in the program: A proposed law could help people who lost homes in this year's Los Angeles wildfires avoid "vulture capitalists."

From the BBC World Service: Japan's inflation rate is heating up, hitting its fastest pace in more than two years: 3.5% in April. That could mean higher interest rates for the first time in years. It's a big shift for a country used to falling prices and a major challenge for the government and central bank. Plus: flooding in Australia, a raised retirement age in Denmark and cash use in Sweden.

In the wake of protests following the murder of George Floyd, corporations made big promises on diversity, equity and inclusion. Now, five years later, some are backing away from DEI commitments. Others are not — including Costco, which is doubling down on diversity. But first: The GOP tax and spending bill passed the House this morning by one vote. It extends the 2017 tax cuts and would also start forcing most adults enrolled in Medicaid to work.

After a white police officer murdered George Floyd in Minneapolis, big banks announced plans to invest millions of dollars in smaller, Black-owned banks across the country to help those banks make more loans to small businesses in underserved communities. We'll hear from one South Carolina bank about how loan efforts are going. Also on the show: OpenAI is investing in hardware, and unions are receiving higher approval ratings.

From the BBC World Service: China might not be the first country you think of when it comes to the Arctic, but it’s staking a claim, calling itself a near-Arctic state. We'll hear how the Arctic has become a battleground for territory, trade and power. Plus, new research shows tropical forests are being lost at an alarming rate, but there’s currently no economic model that incentivizes farming communities to preserve them.

The Port of Los Angeles says 20% of container shipments this month were canceled in the wake of President Donald Trump's tariffs. Even though those tariffs were temporarily lowered, June is also looking to be a light month for shipping into that port. We'll hear what could be ahead, as well as how U.S. companies are responding to all the tariff back-and-forth. Also: What will the GOP's tax bill mean for taxpayers' bottom line?

Government employment has long been a reliable pathway to Black middle-class prosperity. More than 18% of the federal workforce is Black versus about 12% of the civilian workforce overall. That means that the estimated 260,000 federal jobs eliminated this year by President Donald Trump’s Department of Government Efficiency will be particularly felt by Black federal workers. But first: The House Committee working on the Republican tax bill could be in for a long day.

From the BBC World Service: Some U.K. retailers are dealing with a curious cyberattack. One of them is Marks and Spencer, also known as M&S. The attack has resulted in empty shelves, an inability to take online orders and roughly $400 million in lost earnings. Plus, if you're into moisturizers, you've probably encountered shea butter. But the nut tree — a major source of income for millions of women in Africa — is threatened by climate change.

Higher tariffs are not working out so well for automakers. Subaru is raising prices, while GM is reportedly freezing shipments to China. Meanwhile, trade talks between the U.S. and Japan — home to Toyota, Honda and others — look to be moving slowly, at best. And later: One set of economic indicators points to a future economic slowdown, and a startup envisions a slow-moving sleeper train between Los Angeles and the Bay Area.

In yesterday's podcast, we brought you the history of how a white mob devastated Tulsa's Greenwood District during the 1921 Tulsa Race Massacre. Afterward, Black residents rebuilt and flourished, but what would come next would largely destroy the neighborhood — and much of its wealth — for good: the construction of the I-244 highway. But first, President Donald Trump is headed to Capitol Hill to get the GOP tax bill over the finish line.

From the BBC World Service: Chinese EV battery maker CATL, which supplies batteries for Tesla and Toyota, has just gone public on Hong Kong's stock exchange, raising more than $4.5 billion. That makes it the biggest listing in the world this year. We have the details. Also on the program, we learn about an Australian government plan to improve the lives and economic realities of people with autism.

As part of our "Buy Now, Pay Later" series — produced in partnership with Next Avenue, a nonprofit news platform for older adults produced by Twin Cities PBS — we'll hear firsthand from 70-year-old Loreli Taylor, a Social Security beneficiary who took out student loans decades ago and still has debt to pay down. She's not alone; the number of student loan borrowers 62 and older is up sharply. Also, borrowing rates are rising.

Today, to start a three-part series examining America's persistent racial wealth gap, we head to Tulsa, Oklahoma. There, in 1921, a violent white mob destroyed the thriving Greenwood neighborhood — then known as America's "Black Wall Street.” The event wiped out much of the prosperity experienced by the area’s Black residents and, along with it, the opportunity for intergenerational wealth-building. We'll learn about the history and attempts at restitution. But first: a downgrade of the nation's credit rating.

From the BBC World Service: British Prime Minister Keir Starmer is expected to unveil the results of a reset in post-Brexit relations with the EU on defense, trade and fishing rights. We'll hear more. Then, Canada is home to 2 million Indigenous people, roughly half of whom say they struggle to afford basics, including food. Historically, Indigenous Canadians were limited from profiting from food production by law, but the government has now pledged to increase food security.