Talk of tariffs on products going in and out of the United States began this spring.\u00a0 St. Cloud State Economist King Banaian joined me on WJON to discuss what affects, if any, we are seeing yet.\u00a0 He expected an increase in price on some products but he says largely that hasn’t happened yet.\u00a0 Banaian says many of these companies are taking the cost out of their profits to pay for the tariffs, consequently the consumer hasn’t been affected.<\/p>\n
Another Round of Tariffs<\/p>\n
Banaian says another rounds of tariffs were announced by the Trump Administration last week that could cause an increase in prices.\u00a0 He says prices have gone up a little but not as much as expected.\u00a0 Banaian expected inflation to move at a higher rate and prices to move higher than they have.\u00a0 He says the affects of the tariffs have been milder than most economists would have expected.<\/p>\n
U.S. Economy Adds 253,000 Jobs In April, Unemployment Rates Drops To 3.4 Percent<\/p>\n
Joe Raedle, Getty ImagesLack of Job Growth<\/p>\n
The unemployment rate has ticked up a bit but Banaian says what’s more concerning is the job numbers have revised down but a lot.\u00a0 He says that means we’ve had a stagnant economy over the first quarter of 2025.\u00a0 GDP growth checks in at 1.25% in the 1st and 2nd quarter combined.\u00a0 Banaian says there is a reduction in the demand for jobs and a reduction in the amount of supply of labor.<\/p>\n
Gas Prices and More<\/p>\n
King and I talked about gas prices, travel and expected growth in the 3rd quarter.<\/p>\n
If you’d like to listen to my conversation with King Banaian, click below.<\/p>\n
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Rox Home Opener Guests Through The Years<\/p>\n","protected":false},"excerpt":{"rendered":"Talk of tariffs on products going in and out of the United States began this spring.\u00a0 St. Cloud…\n","protected":false},"author":3,"featured_media":118951,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,79,74198,16339,74199,2295,74200,16340,67,132,68],"class_list":{"0":"post-118950","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-from-our-shows","11":"tag-from-the-wjon-newsroom","12":"tag-morning-newswatch-with-jay-caldwell","13":"tag-newsletter","14":"tag-show-notes","15":"tag-st-cloud-news","16":"tag-united-states","17":"tag-unitedstates","18":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114972174805904060","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/118950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=118950"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/118950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/118951"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=118950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=118950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=118950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}