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Stocks Rise as Fed Chair Powell Signals Rate Cuts in Jackson Hole Speech
DeBoer: Bama didn't 'steal' Miami (Ohio) kicker
Kamala Harris, Hoping to Build Momentum, Plans Battleground State Tour Next Week
German police detain a suspect in knife attack that killed 3
The Islamic State militant group claimed responsibility for the knife attack in Solingen, Germany, that killed three people and wounded eight others at a crowded festival.
(Image credit: Christoph Reichwein)
Atlantic Tropical Weather Outlook
000
ABNT20 KNHC 232327
TWOAT
Tropical Weather Outlook
NWS National Hurricane Center Miami FL
800 PM EDT Fri Aug 23 2024
For the North Atlantic...Caribbean Sea and the Gulf of Mexico:
Tropical cyclone formation is not expected during the next 7 days.
$$
Forecaster Berg
Rams LT Jackson suspended 2 games for conduct
Sinner shakes up staff after positive doping tests
Belichick in '26? HOF trims coach wait to 1 year
Republican-led States Challenge Effort to Aid Undocumented Spouses
Sudan’s Military Spurns Cease-Fire Talks in Switzerland
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Democrats Are Upbeat, but Face a Tough Race Ahead
Korda regains form, leads Women's Open by 3
Bears DB Coleman out of hospital, heading home
Bears get Seahawks LB Taylor to boost pass rush
Israel Presses for Gaza Border Presence as Part of Cease-Fire Deal
The trade fraud detective
When David Rashid took over US autoparts maker Plews and Edelmann, the company was losing business to its Chinese rival, Qingdao Sunsong. Both companies make power steering hoses, but Sunsong was offering its hoses to retailers at a much lower price.
Then, in 2018, the Trump administration threw companies like Rashid's a lifeline, by announcing tariffs on a range of Chinese goods, including some autoparts. Rashid thought the tariffs would finally force Sunsong to raise its prices, but, somehow, the company never did.
It was a mystery. And it led Rashid to take on a new role – amateur trade fraud investigator. How could his competitor, Sunsong, absorb that 25% tax without changing its prices? And why had all of Sunsong's steering hoses stopped coming from China and started coming from Thailand?
On today's episode, the wide gulf between how tariffs work in theory... and how they actually work in practice. And David Rashid's quest to figure out what, if anything, he could do about it. It's a quest that will involve international detectives, forensic chemists, and a friendship founded on a shared love for hummus.
This episode was hosted by Keith Romer and Jeff Guo. It was produced by Emma Peaslee and edited by Molly Messick. It was fact-checked by Sierra Juarez and engineered by Ko Takasugi-Czernowin. Alex Goldmark is our executive producer.
Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Paralympics Will Drop Ban on Olympic Rings Tattoos
Matsuyama withdraws from BMW with back injury
Hostages are laid to rest in Israel as a new round of cease-fire talks is expected
Families held funerals for six hostages whose bodies were recovered from Gaza. Many in Israel think the next round of cease-fire talks may be the last chance to bring home hostages who remain alive.
(Image credit: Maya Levin for NPR)