The labor market, to be specific. It's been out of whack for a while, and this morning's jobs report only got stranger. Last month saw 3.9 percent unemployment, the lowest in 18 years. Finding a job is pretty easy, but wages still aren't rising. What's changed since 2000? That's where we'll start today. Then: Obamacare is still the law of the land, minus the individual mandate, which Republicans removed as part of the new tax plan. As a result, premiums are going up again. Plus: How'd things go with this week's China trade talks? And why is the New York Times' food critic going after ice cream sundaes? Two equally important questions we'll answer today.
We've been talking a lot about the countries and companies that have asked for exemptions from President Donald Trump's steel and aluminum tariffs. But remember, the whole point of these things is to help out America's steel and aluminum industries. So we'll start today's show looking at the pro-tariff crowd before chatting with a few of the thousands of companies looking for exemptions. Then: Tesla's earnings call yesterday was feisty as Elon Musk's electric car company beat expectations while posting a record loss. We'll look at the challenges Musk is facing as he makes the turn from luxury to the mass market. Plus: Conventional wisdom says most millennials just can't buy houses anymore. We'll talk to a few who did and see how they were able to swing it.
Today, the Federal Open Market Committee chose not to raise interest rates, but it did have other news: Inflation has reached the Fed benchmark of 2 percent. How tolerant of inflation is the Fed going to be? That depends on whether the economy is experiencing good or bad inflation. We look at the difference between the two. Meanwhile, a U.S. delegation led by Treasury Secretary Steven Mnuchin are on the ground in Beijing, resting up before their tariff meetings tomorrow. Most American companies doing business in China are making money, so they might want different things from the talks than the negotiators do. Marketplace China Correspondent Jennifer Pak breaks it down for us. Speaking of tariffs, American companies submitted over 3,500 applications for exemptions. We dig into what some of these companies are doing to try and increase their chances.
Ahead of a midnight deadline last night, the White House gave a slew of countries exemptions from steel and aluminum tariffs lasting a month or longer. South Korea has already scored itself a permanent pass by agreeing to restrict its steel and aluminum exports to the United States. That's the deal the Trump administration is offering Europe and its NAFTA partners, too: If you don't want tariffs, then agree to a quota. Thing is, there's a pretty big economic difference between the two. We'll explain, then examine the reaction to this policy from a number of trading partners. Plus, a look at Canada's skills-based immigration policy, which Trump has said he admires, and its unintended side effects.
The big corporate story du jour is T-Mobile and Sprint, but we're going to focus on something specific the two wireless companies said when they announced a proposed merger: that the combined company would be able to move faster on fifth-generation wireless technology than anyone else — specifically the Chinese. Will that help win over government regulators? We'll talk about. Then, ahead of Treasury Secretary Steven Mnuchin's trip to Beijing, we'll talk about China's bid for tech domination by 2025. Plus: President Donald Trump has until midnight tonight to make up his mind on a whole bunch of temporary tariff exemptions. We'll look at the state of play so far.
The e-cigarette manufacturer Juul started off aiming its product at adult smokers looking to quit, but now the brightly-colored, fruit-flavored refill cartridges have caught on with teens, and the FDA is stepping in. We'll talk about it. Plus: the view from Dallas on NFL Draft Day, and the Avengers' infinite sponsorships. Plus, everything's looking up at Amazon: profits — and the cost of a prime membership.