The trade wars fruit of discontent
A Story of Turkey and Michigan Cherries. No not that kind of Turkey. I'm David Brancaccio New York. We have new data ahead ahead of the holiday that will give us a more rigorous sense of how free-spending people will be just after the holiday economic counter for the weekend hand let us consult economist. Julia Coronado Coronado at macropolicy perspectives. In New York Good Morning Good Morning. I mean it wasn't my idea but Friday is the day of consumption after Thanksgiving and we will get some some new data about our states of mind consumer confidence on Tuesday and personal income and consumer spending just before Thanksgiving that'll Be Very interesting yes. This'll be data for October. The first month of the fourth quarter right ahead of the holiday shopping season and so far that consumers than the the resilient factor in the wobbly global economy so expectations is that consumers will stay on track pretty solid steady as she goes not gangbusters. Turn but no signs of trouble either. I mean not gangbusters despite this amazingly low unemployment rate and all that job creation month this month. Yeah the hallmark of the consumer in district covering has been budget discipline and steady as she goes consumers have been neither overly really exuberant known for Fearful so that's been a important stabilizing factor and and speaks to a new era of prudence. Julia Julia Coronado at macropolicy perspective. Thank you very much. My pleasure officials in London today decided not to renew Uber's operating licence after regulators. You're set a pattern of failures passengers at risk. BBC Business Reporter feel legged has the story. This is a humiliating decision for Uber Transport for London said it had concluded the company was not fit and proper operator it highlighted flaws Nuba systems that allowed unauthorized people to pose as licensed drivers and carry passengers as well as permitting drivers who'd been suspended or dismissed to set up new uber accounts in order to continue providing services. It said this had enabled thousands thousands of uninsured trips to take place as well as compromising passenger safety. Yuba described the decision as extraordinary and wrong. It now has twenty one in days to appeal and will be able to continue operating throughout the appeals process. Hoover stock is down about two percent now. There is confirmation this morning that the Charles Charles Schwab company will by its rival. Td Ameritrade in an all stock deal worth twenty six billion dollars amid competitive pressures the discount brokerage industry this this summer began. Cutting Commissions on stock transactions two zero and Silicon Valley has started to compete with outfits like Robin Hood Disclosure. Td Ameritrade has been an underwriter underwriter of marketplace now. Some people like counter programming their lives maybe visiting an abnormally quiet museum on Super Bowl Sunday or when the malls are full for Post thanksgiving Friday. Go instead to a car or truck dealership. Marketplace's Jack Stewart has that low interest rates and plenty of inventory on dealer lots mean gene. Better car deals to be had now than in previous years. According to research from Edmonds plus more ads like these no credit that no worry. It's not funny. Better Watch out the dodge because Thanksgiving and therefore black Friday are particularly late in November. This year deal is actually started their sales weeks ago. Go against the backdrop of shiny new metal at the La auto show on right now. Rachel Petoskey from motive says holiday events do attract car shoppers. Seven percent say that black Friday sale is impacting their purchase and three percents say sale just bought from consumer reports says. It's a good time to hit the lots. The malls are going to be packed. You might find that you get better attention going to the car dealership now than if you did on a typical weekend experts. Say Do your research in advance Vance though and this week is usually pretty quiet and a good time to take test drives. I'm Jack Stewart for marketplace Farmers in northern other Michigan Grow Amazing Tart Cherries for everything from pies to embedding and chocolate. Nefer Years Michigan Cherry Farmers Have Been Struggling Against Competition and from cherries imported from Turkey some michiganders' thought. US tariffs would help now. Some of those farms are closing from interlocken public radio Max. Johnston has the story. Jim Barton Hagan has grown Tart cherries on his farm in Suttons Bay Michigan for decades but now a tractor is pulling all the tart cherry trees from his orchard. Pardon Hagen says he sat to see these trees go but has no other choice. We're not making our costs right now. So it's hard hard to spend money to raise them. Michigan farmers like Barden Hagan produce about seventy five percent of the TART cherries grown in the US according to the Cherry Marketing Institute but since two two thousand six the state has lost one hundred sixty tart cherry farms and across the country production is already down eighteen percent from last year. That's from the. USDA CHEAP TART cherries from Turkey. have taken over the. US market according to Industry Data Domestic Cherry sell for about four dollars per pound while Turkish cherries go for eighty nine cents or not afraid of competition. As long as it's fair that's Cherry. Farmer nells Valiquette. He's part of an industry group that investigated Turkish Cherry Imports Ports. It found. Turkey is subsidizing. Its Farms so they can sell cherries below the cost of production earlier this year the US International Trade Commission levied tariffs Assam Turkey some as high as seven hundred percent but then cherry exports skyrocketed from other countries like Brazil it is like whack a mole and it started hurted in Turkey and now it's migrated to Brazil and where will it go next. If a country really wants to export a product it can get around tariffs says Daniel Sumner with the University of California Davis if for example we put a tariff on canned cherries from Turkey. It can just send them to another country and that country but sitting incans then. It's a canned cherry from somewhere else and the US has to place more tariffs you then trace it you then block it. Then it moves to another place you trace it and block. Good for now Michigan farmer. Jim Barr Hagan plans to focus on apples and sweet cherries. He might replant his Tart Cherries and four to five years if the price is right in traverse city Michigan. I'm Max Johnston for marketplace. The things you learn. I'm David Brancaccio with the marketplace morning report from A._P._M.. American public media.