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Sarah Gonzalez
Hey, it's Sarah Gonzalez. The economy has been in the news a lot lately. It's kind of always in the news, and Planet Money is always here to explain it. Each episode we tell a sometimes quirky, sometimes surprising, always interesting story that helps you better understand the economy. So when you hear something about cryptocurrency or where exactly your taxes go, Yas Aves Listen to the Planet Money podcast.
Windsor Johnston
From NPR Live from NPR News in Washington, I'm Windsor Johnston. The Trump administration has sent a letter to US Trading partners giving them a Wednesday deadline to make their best offers in negotiations over the steep tariffs the president proposed in April. NPR's Tamara Keith reports. The pause on those tariffs is set to run out next month.
Tamara Keith
Facing market backlash, President Trump paused the bulk of the tariffs, saying that would allow time to negotiate bespoke deals with each trading partner. But well over halfway through the pause, the deals have been slow to come together. White House Press Secretary Caroline Levitt insists that will change soon.
Caroline Levitt
This letter was simply to remind these countries that the deadline is approaching and the president expects good deals, and we are on track for that, I will.
Tamara Keith
Emphasize, she said administration officials are in active talks with key trading partners. The tariff pause is set to end on July 8. Tamara Keith, NPR News.
Windsor Johnston
The White House is pushing for additional money to fund FEMA. NPR's Rebecca Hersher reports. The request comes despite repeated threats from the Trump administration to slash the agency.
Rebecca Hersher
In new budget documents from the White House, the Trump administration requests more than $26 billion in funding for disaster relief. It's about $4 billion more than President Biden requested in his final budget. The increase comes at a time when the Trump administration is also to eliminate FEMA and move more disaster responsibility to state governments. The president has said he does not think the disaster agency should exist in its current form, and he appointed a group of high level federal officials, governors and emergency experts to propose drastic changes to the agency. Rebecca Hersher, NPR News.
Windsor Johnston
Immigration officials have detained the family of the man charged in Sunday's violent attack on peaceful demonstrators in Boulder, Colorado Department of Homeland Security Secretary Kristi Nome.
Caroline Levitt
We're also investigating to what extent his family knew about this horrific attack, if they had any knowledge of it or if they provided support to it.
Windsor Johnston
Muhammad Soliman used a makeshift flamethrower and hurled Molotov cocktails into a small crowd that was calling for the release of Israeli hostages in Gaza. The Egyptian national is now facing a federal hate crime charge and 16 counts of attempted murder. He was living in the US on an expired tourist visa in New York. Closing arguments are wrapping up today in the third sex crimes trial of disgraced movie producer Harvey Weinstein. The 73 year old is already serving a 23 year sentence from his Los Angeles conviction. Jurors are expected to begin deliberations tomorrow. A last check on Wall Street. The dow was up 214 points, the NASDAQ up 156. This is NPR News. People across much of Minnesota woke up to hazy skies after smoke blew in from major wildfires burning across central Canada. Matt Sepik of Minnesota Public Radio reports.
Matt Sepik
The Minnesota Pollution Control Agency says the air across the eastern half of the state and part of Wisconsin is unhealthy. Officials are urging people to limit outdoor exertion if possible, and wear N95 masks. An Air quality alert remains in effect across the region through midday Wednesday.
Windsor Johnston
That's Matt Sepik reporting. Singer Rick Astley's 1987 hit Never Gonna Give youe Up has surpassed 1 billion streams on Spotify. NPR's Chloe Veltman reports. The British pop star owes much of the song's success to the fact it became an Internet joke in the 21st century.
Chloe Veltman
Rick Astley's earwormy tune zoomed to the top of the charts in the US and more than 20 other countries in 1987. Some two decades after its release, the song took on new life thanks to the Rickrolling trend. The online prank involves clicking on a hyperlink that takes you not to the webpage you're hoping it leads to, but instead to the Never Gonna Give youe Up music video. A few other 1980s songs by British artists have reached 1 billion streams on Spotify. Among the nearly 1,000 who have reached the benchmark are Soft Sells, Tainted Love and Every Breath youh Take by the Police. Chloe Veltman, NPR News.
Windsor Johnston
You're listening to NPR News from Washington.
Matt Sepik
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Windsor Johnston opens the episode by reporting on the Trump administration's latest move in international trade negotiations. The administration has issued a letter to U.S. trading partners, setting a Wednesday deadline for them to present their best offers regarding the steep tariffs proposed in April. This urgency comes as the pause on these tariffs is scheduled to expire next month.
Tamara Keith provides further insight, explaining that the tariff pause was initially implemented to mitigate market backlash and to allow time for negotiating tailored deals with each trading partner. However, progress has been sluggish, raising concerns about meeting the impending deadline.
Caroline Levitt, White House Press Secretary, is quoted at [01:06] stating, “This letter was simply to remind these countries that the deadline is approaching and the president expects good deals, and we are on track for that.” She emphasizes that administration officials are actively engaged in discussions with key trading partners, aiming to finalize agreements before the pause ends on July 8.
In a surprising development, the White House is seeking additional funds for FEMA, despite previous indications from the Trump administration about dismantling the agency. Rebecca Hersher reports that the administration requests over $26 billion for disaster relief, which is approximately $4 billion more than President Biden had requested in his final budget.
This funding surge contrasts sharply with the administration's plans to eliminate FEMA and transfer more disaster response responsibilities to state governments. President Trump has publicly stated his belief that FEMA should not exist in its current form and has appointed a diverse group of federal officials, governors, and emergency experts to propose significant changes to the agency’s structure and function.
Windsor Johnston updates listeners on the ongoing investigation following the violent attack on peaceful demonstrators in Boulder, Colorado. The attacker, Muhammad Soliman, has been charged with a federal hate crime and 16 counts of attempted murder for using a makeshift flamethrower and Molotov cocktails against a crowd advocating for the release of Israeli hostages in Gaza. Soliman, an Egyptian national residing in the U.S. on an expired tourist visa, has had his family detained by immigration officials.
At [02:28], Caroline Levitt states, “We're also investigating to what extent his family knew about this horrific attack, if they had any knowledge of it or if they provided support to it.” This statement underscores the administration's effort to determine any familial involvement or support in the extremist act.
The episode also covers the latest developments in the Harvey Weinstein trial. As closing arguments conclude, the 73-year-old disgraced movie producer, who is already serving a 23-year sentence from his Los Angeles conviction, awaits jury deliberations in his third sex crimes trial. Windsor Johnston notes that jurors are expected to begin their deliberations the following day, bringing this high-profile case another step closer to resolution.
In a positive note for the financial markets, Windsor Johnston reports that Wall Street experienced notable gains with the Dow Jones Industrial Average up 214 points and the NASDAQ increasing by 156 points. This surge reflects investor optimism amidst the ongoing economic and political developments.
Environmental concerns take center stage as Matt Sepik of Minnesota Public Radio highlights that residents across much of Minnesota and parts of Wisconsin woke up to hazy skies due to smoke from major wildfires burning in central Canada. The Minnesota Pollution Control Agency has declared the air quality in the eastern half of the state and parts of Wisconsin as unhealthy.
Officials are urging residents to limit outdoor activities and wear N95 masks to protect against the poor air quality. An Air Quality Alert remains in effect across the region through midday Wednesday, emphasizing the ongoing impact of the wildfires on local communities.
Lastly, Chloe Veltman shares a cultural milestone as British pop star Rick Astley's iconic 1987 hit "Never Gonna Give You Up" surpasses 1 billion streams on Spotify. Veltman attributes the song's enduring popularity to the Rickrolling internet phenomenon, where individuals are tricked into clicking hyperlinks that lead to the song's music video instead of the intended content.
Astley's track originally topped the charts in the U.S. and over 20 other countries upon its release. Its resurgence through internet memes has not only introduced the song to new generations but also contributed to its streaming success. Veltman also mentions other 1980s British songs that have reached the 1 billion streams milestone, including Soft Sells' "Tainted Love" and The Police's "Every Breath You Take."
Concluding the financial segment, Windsor Johnston reiterates the day's stock performance, noting substantial gains in both the Dow and the NASDAQ, signaling a robust market environment.
This summary encapsulates the key discussions and insights presented in the June 3, 2025, episode of NPR News Now, providing listeners with a comprehensive overview of the day's most pressing news topics.