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The commerce fraud detective : Planet Money
The Tycoon Herald > World > The commerce fraud detective : Planet Money
World

The commerce fraud detective : Planet Money

Tycoon Herald
By Tycoon Herald 2 Min Read Published August 23, 2024
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The commerce fraud detective : Planet Money
The Hong Kong based CSCL East China Sea container ship sits in a berth at the Port of Oakland on June 20, 2018 in Oakland, California. U.S. president Donald Trump has threatened to impose 10 percent tariffs on $200 billion of Chinese imports if China retaliated against his previous tariffs on $50 billion of Chinese imports.

When David Rashid took over US autoparts maker Plews and Edelmann, the corporate was shedding enterprise to its Chinese language rival, Qingdao Sunsong. Each firms make energy steering hoses, however Sunsong was providing its hoses to retailers at a a lot cheaper price.

Then, in 2018, the Trump administration threw firms like Rashid’s a lifeline, by asserting tariffs on a variety of Chinese language items, together with some autoparts. Rashid thought the tariffs would lastly power Sunsong to lift its costs, however, someway, the corporate by no means did.

It was a thriller. And it led Rashid to tackle a brand new position – novice commerce fraud investigator. How may his competitor, Sunsong, soak up that 25% tax with out altering its costs? And why had all of Sunsong’s steering hoses stopped coming from China and began coming from Thailand?

On in the present day’s episode, the huge gulf between how tariffs work in idea… and the way they really work in apply. And David Rashid’s quest to determine what, if something, he may do about it. It is a quest that can contain worldwide detectives, forensic chemists, and a friendship based on a shared love for hummus.

Why tariffs are SO back

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 Planet Money‘s govt producer.

Assist assist Planet Money and listen to our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

All the time free at these hyperlinks: Apple Podcasts, Spotify, the NPR app or anyplace you get podcasts.

Discover extra Planet Money: Fb / Instagram / TikTok / Our weekly Publication.

Music: NPR Supply Audio – “Virtual Machine,” “EAT,” and “Bassline Motion”

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