President Donald Trump has gone back and forth on the Trans-Pacific Partnership the past few days, and you might be looking for a refresher. What exactly is in the thing? We'll get you up to speed today and talk a bit about the Farm Bill, too. Then: The president has kicked things up a notch in his fight with Amazon over the U.S. Postal Service. He's ordering a task force to dig into the operations and finances of the post office, which he says is on an unsustainable financial path. But is a task force gonna fix that? We'll look into it, but first, the Weekly Wrap.
Much like health care, it seems global trade is a harder nut to crack than the White House thought it might be. In a meeting today, Presdient Donald Trump said he's told his top economic and trade advisers to look at getting the United States back into the Trans-Pacific Partnership. It's not really a surprise. The president hinted at it in Davos, and Treasury Secretary Steven Mnuchin flat out said it in an interview on this program. That's where we're starting today, plus the latest on bank earnings and Disney's move to streaming. Also: A lot of science fiction tech has become reality. Now some companies are settling into stacks of sci-fi to find the Next Big Thing.
We got the most recent Federal Reserve meeting minutes. The key takeaways: Trump tax cuts and increased federal spending will give the economy a short-term boost, but all the deficit spending and retaliatory tariffs carry long-term risks. Speaker of the House Paul Ryan won't have to worry about any of this soon. He announced today he'll leave Congress in January. We'll talk about the ripple effects of that departure. Then: Mark Zuckerberg's second day of testimony saw the Facebook CEO answering more questions about his company's business model: A lot of it comes down to the Like button, that little thumbs up that may well be the most powerful tool in social media. We'll explain. Plus: More from our "How We Changed" series.
If you were listening to Mark Zuckerberg's testimony in front of the Senate, you missed the sort of bewildered smile on the Facebook CEO's face as he explained to Sen. Orrin Hatch how his company makes money. Zuckerberg was still answering questions as we taped the show this afternoon, but we brought in Marketplace Tech host Molly Wood to talk about the story so far. Then, we'll look at another striking moment from this afternoon, when Zuckerberg said Facebook isn't a monopoly as it stares down regulation, here and abroad. Then: Toys R Us filed Chapter 11 bankruptcy last year, with more than $5 billion in debt on its books. But soon afterward, it asked the bankruptcy court for permission to pay big executive bonuses. That sounds remarkable, but it's actually pretty common. We'll look at why. Plus: One in three American families has trouble affording diapers. We'll look at why.
It's been a while since we've started this program by dissecting a presidential tweet. But with a whiff of trade war in the air, there's some good economic context to be had from that exercise today. At 6:03 in the morning, the president said, "When a car is sent to the United States from China, there is a Tariff to be paid of 2 1/2%. When a car is sent to China from the United States, there is a Tariff to be paid of 25%. Does that sound like free or fair trade. No, it sounds like STUPID TRADE - going on for years!" Believe it or not, the most important part of that whole thing was the last two sentences. We'll explain. Then: It's often said that if you aren't paying for a product, you are the product. The past few weeks at Facebook have been a stark reminder of that. So, with CEO Mark Zuckerberg set to testify before Congress tomorrow, we'll explore this model, other companies that use it and whether Facebook has any alternatives. Plus: Kai ended the trade war! He lost.
Today's jobs report was underwhelming, no doubt. But after putting up huge numbers last month, we're still adding 200,000 jobs a month this year. What we should really be worried about is The Ghost of Jobs Reports Yet to Come, because this run of economic growth is getting very long in the tooth. We'll talk about it, plus the latest Russian sanctions from the Trump administration. Then: Why on earth is Netflix looking to spend $300 million on a billboard company? But first, we'll talk about all the economic news of the past seven days in the Weekly Wrap.