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The United States and Ukraine are weighing a deal that would give the U.S. a cut of revenues from Ukraine’s rare earth minerals. But Gracelin Baskaran, mining economist at the Center for Strategic and International Studies, said rare earths aren’t all that rare. So why is the Trump administration scrambling to get its hands on these minerals from other countries? On the show today, Baskaran explains what rare earths are, why mining them isn’t always economically attractive, and what the U.S. is doing to try to catch up with China’s rare earth production. Plus, why recycling is only part of the solution. Then, we’ll get into why Canadians are boycotting American vacations. And, how easy is it to get someone to dream about a tree or supply chain economics? Here’s everything we talked about today: “Opinion | How Trump Can Turn the Ukraine Mineral Deal Into Real Security” from The New York Times “US seeks to reopen terms of Ukraine minerals deal” from Financial Times “Fact Sheet: President Donald J. Trump Takes Immediate Action to Increase American Mineral Production” from the White House “Ukraine mineral deal could bolster U.S. supply of key materials” from Marketplace “Why does DRC want a Ukraine-like minerals deal with Trump, amid conflict?” from Al Jazeera “The Space Station Is Too Clean, and It’s Making Astronauts Sick” from The Wall Street Journal “Canadians Are Boycotting American Vacations” from The Wall Street Journal Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The latest reading marks the fourth straight month of declining consumer confidence, and it fell more than expected. How will the souring mood affect spending and the job market? Also in this episode: Political economist Mark Blyth discusses how President Trump might respond to a potential recession. Plus, why tariffs are making investors wary of the U.S. and a company claims to have a new way to make seawater drinkable.

March Madness is in full swing for both men’s and women’s basketball, but only the former has received a great deal of attention from the sports betting industry. A look at why women’s college hoops, as well as women’s sports in general, are often harder to bet on than their male counterparts. Plus, we look at how economic measures against Chinese shipping could come back to bite U.S. businesses. Also, a glimpse into a new report on how the country is doing on infrastructure. And, we chat with Larry Adam, Chief Investment Officer at Raymond James, about a new report that details the unease in the service sector around recent U.S. economic policies.

There’s a lot of hope that artificially intelligent chatbots could help provide sorely needed mental health support. Early research suggests humanlike responses from large language models could help fill in gaps in services. But there are risks. A recent study found that prompting ChatGPT with traumatic stories — the type a patient might tell a therapist — can induce an anxious response, which could be counterproductive. Ziv Ben-Zion, a clinical neuroscience researcher at Yale University and the University of Haifa, co-authored the study. Marketplace’s Meghan McCarty Carino asked him why AI appears to reflect or even experience the emotions that it’s exposed to.

From the BBC World Service: Chinese electric vehicle maker BYD has passed $100bn in annual revenue for the first time, putting Elon Musk’s Tesla in second place. Also, a visit to Europe’s biggest construction site in the south of Denmark: a $7.5bn tunnel being built under the Baltic Sea to Germany.

Trump Administration’s shuttering of the Federal Economic Statistics Advisory Committee, which brought outside expertise to government economic statistics, has raised eyebrows among economists about potential impacts on independent policymaking. Claudia Sahm, Chief Economist at New Century Advisors, speaks with Marketplace’s David Brancaccio about what the administration’s moves could mean. And, a new report says that wages for low-income workers have risen rapidly in recent years — but that may not tell the whole story.

Most of us can only wonder what goes on in U.S. national security leaders’ group chats, but The Atlantic’s Editor-in-Chief Jeffrey Goldberg doesn’t have to. Last week, Goldberg was accidentally included in a Signal group chat with high-ranking members of the Donald Trump administration, in which they discussed imminent war operations. Yes, this actually happened. Plus, the whopping $2.1 billion verdict you might’ve missed over Roundup weed killer. And, we smile over what’s happened since congestion pricing went into effect in Manhattan — all while dropping some Latin vocab. Here’s everything we talked about today: “The Trump Administration Accidentally Texted Me Its War Plans” by The Atlantic “Bayer Drops After $2 Billion Verdict in Latest Roundup Trial” from Bloomberg “Third Circuit Rules Failure to Warn Claims Preempted by FIFRA” from the National Agricultural Law Center “Denzel Washington and Jake Gyllenhaal break Broadway box office records with ‘Othello’” by CNN “Congestion Pricing is a Policy Miracle” by Better Cities via Substack Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The Donald Trump administration wants to strengthen U.S. manufacturing with tariffs on imported goods. We look at the latest purchasing managers report to see if new trade policies have made an impact. Also in this episode: Homeownership rates stall for Gen Z and millennials, shakeups at Fannie Mae and Freddie Mac, and Baltimore’s new Francis Scott Key Bridge design takes shape.

The mood of stock investors turned more upbeat today after The Wall Street Journal and Bloomberg News reported that some industries won’t get hit with import taxes next week, as previously advertised by President Donald Trump. Among industries where tariffs might be deferred are cars, trucks and microchips. We’ll discuss. Plus: a lawsuit involving weedkiller RoundUp (and a promised appeal) and attempts by Mexico to crack down on smuggled Chinese goods.

The Trump administration’s budget-cutting efforts are having a big impact on research universities, even as those efforts face legal challenges. When it comes to medical research, universities often plan years in advance. We’ll hear what uncertainty in funding means for one Duke University research lab. But first: Genetic testing company 23andMe has filed for bankruptcy, and DoorDash is partnering with Klarna to offer buy now, pay later plans for food orders.

The electric vehicle industry in the Southeast is growing rapidly, with increased sales, charging stations and manufacturing. Buoyed by notable victories in the last couple of years, the United Auto Workers union is revving up efforts to organize the EV and battery sector in the South. One target is a sprawling campus in rural Kentucky that, once completed, will be one of the largest EV battery plants in the world. A supermajority of workers at BlueOval SK has asked the National Labor Relations Board for a vote on joining the United Auto Workers. The nearly $6 billion electric vehicle battery campus in Glendale, Kentucky, is part of a joint venture between Ford and South Korea’s SK On.

From the BBC World Service: Turkish President Recep Tayyip Erdoğan’s main political rival — Ekrem İmamoğlu, the mayor of Istanbul — was due to be named as a nominee for the 2028 presidential election. Now, tens of thousands are protesting his detention on corruption charges as Turkey’s economic struggles continue. We’ll learn more about the situation. Also: Could tariffs under U.S. President Donald Trump provide an opportunity for Chile’s salmon farmers?

We’re tackling a “mysterious and important” question in today’s episode: Should Congress use “current policy” or “current law” baseline when measuring tax cuts? It’s not unlike our reporter’s internal struggle on whether to cancel Apple TV+ now that Season 2 of “Severance” has ended, or renew it. Except lawmakers are dealing with trillions of dollars. Plus: African immigrants fill critical home health aide roles in Texas, and The Conference Board’s Leading Economic Index falls for the third-straight month.

It’s almost peak bloom in Washington, D.C., which means it’s time for our annual cherry blossom celebration! But first, some federal funding news: Columbia University will give in to far-reaching demands by President Donald Trump to restore threatened federal funding. We’ll get into what kind of precedent the move sets for higher education. And, the U.S. Department of Agriculture will cancel $500 million in food deliveries. Rural food banks could be impacted most. Plus, we’ll play a blossom-themed round of Half Full/Half Empty! Here’s everything we talked about today: “Trump weighs in on report King Charles will offer U.S. Commonwealth membership” from The Independent “Columbia Yields to Trump in Battle Over Federal Funding” from The Wall Street Journal “USDA cancels $500M in food deliveries, leaving food banks scrambling” from The Washington Post “Ohio among best places to see cherry blossoms blooming. Here’s where” from The Columbus Dispatch “Cherry Blossom predictions are in! Will AI bloom or bust?” from George Mason University “Beyond the bud: How the nation’s pink trees became an indicator of changing climate” from WBAL “2025 National Cherry Blossom Festival set to boost DC tourism” from ABC7 News Donate to our March fundraiser to get classic public media thank-you gifts! https://support.marketplace.org/smart-sn

In our final “Tricks of the Trade” installment at Rodeo Houston, we chat with two rodeo clowns. They may dress and act funny, but they take their jobs seriously. Also known as barrelmen, rodeo clowns protect bull riders when they fall. Plus, air travel worldwide continues to be affected by the closure of London’s Heathrow Airport. And, copper — it’s not just for drinking mint cocktails. Yet a copper economic indicator is now muddled.

From the BBC World Service: London’s Heathrow Airport will be closed Friday following a power outage; more than 1,300 flights face cancellation. The outage was caused by a fire at a nearby electrical substation that supplies the airport’s power. The disruption could last for days. Then, some scam texts are sent by people held against their will at scam centers in Myanmar and East Asia. A woman freed from one recounts her story.

Today, as part of our “Tricks of the Trade” series, we’re at the Houston Livestock Show and Rodeo, where students put goats and lambs up for sale to the highest bidder. Here, livestock auctions generate a pile of philanthropic money for a Texas scholarship fund, and the bids go up and up and up. But first: Air travel is in a snarl today with a power outage at London’s Heathrow Airport.

Do you get stressed out thinking about life after high school? Host Yanely Espinal talks to college counselor Ralph Johnson about choosing the right path for you and thinking of this as an important financial decision. They discuss the pros and cons of different types of colleges and the criteria you should consider when deciding where to go.   Think you’re financially inclined? Dig deeper into next steps after high school: Read more about the different types of colleges from the College Board Search for a college’s net price calculator here Suggestions from the ACT on how to decide what to do after high school   Are you in an educational setting? Here’s a handy listening guide.    Thanks for listening to this episode of “Financially Inclined”! We’d love to hear what you learned or any questions you’d like us to answer in a future episode. You can shoot us an email at financiallyinclined@marketplace.org or tell us using this online form.   This podcast is presented in partnership with Greenlight: the money app for teens — with investing. For a limited time, our listeners can earn $10 when they sign up today for a Greenlight account.  

The stock market has been a tad volatile lately. But this month, the digital physical therapy company Hinge Health filed for an initial public offering. Plus, a new tool out of Stanford University evaluates how various AI models perform in real-world health care. It grades them on tasks from patient education to clinical note generation. But first, Nvidia just hosted its annual GTC confab, where it announced a whole lot of collaborations and, of course, some new and improved chips. Main takeaway: The company has its fingers in a bunch of AI pies. Marketplace’s Meghan McCarty Carino discusses all of this with Christina Farr, managing director at Manatt Health.

Not totally sure how tariffs work, who pays for them and how they’re collected? Look no further. In today’s episode, Kai and Nova answer these questions and more. We’ll explain how tariffs are applied and what they’re based on, as well as what happens when a good crosses a border multiple times. Plus, what’s the point of a country retaliating with tariffs if its citizens have to pay for them? We’ll get into it. Here’s everything we talked about today: “Who Pays for Tariffs? Here’s What You Need to Know.” by The New York Times “China’s retaliatory tariffs on agricultural goods will squeeze farmers” from Marketplace Listen: Audio snippet on deals exporters and importers make to determine who will pay in the event of unexpected tariffs via OtterAi “How Tariffs Work” from The New York Times “Automakers warn that Trump tariffs will hike vehicle prices as much as 25%” from Reuters “Buying a Car? Trump’s Tariffs Could Make It More Expensive.” by The New York Times “Europe Delays Tariffs on U.S. Whiskey to Make Time to Negotiate” by The New York Times “Trump’s 200% tariff threat would be ‘a real disaster’ for Europe’s wine industry” by AP News Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.