May 12, 2025 • 4 mins
CBS News Business Analyst and Host of Jill on Money Jill Schlesinger joins us to discuss possible impacts of a trade deal between China and the United States and how that might impact the job market for recent college graduates.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
I'm going to play the graduation music again one more time. Parents.
It's just so jacked that it's going to get cheaper
moving forward, and I'm just letting you know they're still
going to have their handout.
Speaker 2 (00:12):
And even you being a little hazy back in the day,
right for your graduation standard attention star.
Speaker 1 (00:17):
Yeah, that continued into my forties. So let's get Jill
slashing tor CBS News Business analysts. We'll get to your
college advice is as much as we can get to,
and then point people to the blog at jillonmoney dot com.
But we have to talk a little bit about on
West Michigan's Morning News. This ninety day thing with China
is a big deal. Futures are kind of going through
(00:37):
the roof.
Speaker 3 (00:38):
What do we know, Well, what we know is that
we've got to pause for ninety days as the actual
negotiations continue. But essentially we're kind of back to where
we thought we would be, which is maybe a little
bit annoying because it was annoying to me and that
is that, hey, we're going to get a ten percent
blanket tariff. There's going to be a separate twenty percent tariff,
(00:58):
the one that the President imposed over. Remember he said
something about China's role in the fentanel trade, So that
looks like it's going to remain but no longer won
twenty five on China or so one forty five. And
then also Beijing is going to cut its retaliatory tariffs
from one hundred and twenty five percent to ten percent
for ninety days. Okay, so what does this mean. It's
(01:20):
not a deal, but it's getting closer. And you know,
when two sides talk, we sometimes get an actual negotiation.
I think both sides kind of cried uncle on this,
like I give, okay, this is not great, not good
for the economy, and just getting to our topic of
where we are with the actual job market. I think
(01:41):
this uncertainty has really been bad for recent college graduates,
and so I think that the quicker they can get
the deal, the better.
Speaker 2 (01:50):
And Jill, the quicker obviously the deal the better. As
we knew going in for those small mom and pop
local businesses, right, I mean, this has got to be
great news for them.
Speaker 3 (02:00):
Oh, absolutely, But you know there's still uncertainty, and I
think it's really important to remember that if we never
really knew what the purpose of with a lot of
these tariffs because there were three different rationales. It's like,
you know, whether it's the fentanyl trade was one, and
then maybe protecting things like the chip sector for national
security was one. And then there was the oh, it's
(02:20):
excuse me, we want more manufacturing back in the United States.
I mean, these tariff levels will not bring manufacturing back
to the United States overall. They just won't. And so
it'll be interesting to see kind of Well, so like
what are the next deals with other countries? You know,
where are we with Vietnam? What happens with the US
in Canada and Mexico. So we need more information. There
(02:41):
is still quite a bit of uncertainty.
Speaker 1 (02:43):
We'll put the link for career college advice for college
grads because it's always a great reset for us as well.
But you did it this year looking at age groups.
So what's the biggest piece of advice you have for
the youngest of those grads.
Speaker 3 (02:57):
Well, I take it from the advice from the twenty
five to the thirty five year olds, which is basically
like practice your interviews. Remembered that first job is just
the first of many, and it's not going to necessarily
define your career. It's a long and winding road, and
that your path may not be linear. These are important
things to remember as you go through a job search,
(03:18):
and if you're the parent, the grandparent, or friend of
somebody who's going through this, try to, you know, bring
this to the young grads forefront there as they approach
their job search, that you know, a job is a
good job. Like it doesn't have to be your dream job.
You don't have to hold out. It's a tighter job
market this year than it was last year, certainly much
(03:38):
tougher than it was a few years ago. So just
be very clear eyed about this. My favorite piece of
advice was from a graduate who graduated in two thousand
and nine into the Great Recession, and she said, my
advice is to take any job in your field or
at an organization you admire. Getting a foot in the
door is more important than a glamorous or perfect first role.
Speaker 2 (03:59):
Amen, And that is brilliant.
Speaker 1 (04:01):
Yeah, we'll leave it at that. Jill Slessingers, CBS News
Business Analyst, host of Jill on Money, World Traveler. Thank
you for your time today.
Speaker 3 (04:08):
Take care
I'm going to play the graduation music again one more time. Parents.
It's just so jacked that it's going to get cheaper
moving forward, and I'm just letting you know they're still
going to have their handout.
Speaker 2 (00:12):
And even you being a little hazy back in the day,
right for your graduation standard attention star.
Speaker 1 (00:17):
Yeah, that continued into my forties. So let's get Jill
slashing tor CBS News Business analysts. We'll get to your
college advice is as much as we can get to,
and then point people to the blog at jillonmoney dot com.
But we have to talk a little bit about on
West Michigan's Morning News. This ninety day thing with China
is a big deal. Futures are kind of going through
(00:37):
the roof.
Speaker 3 (00:38):
What do we know, Well, what we know is that
we've got to pause for ninety days as the actual
negotiations continue. But essentially we're kind of back to where
we thought we would be, which is maybe a little
bit annoying because it was annoying to me and that
is that, hey, we're going to get a ten percent
blanket tariff. There's going to be a separate twenty percent tariff,
(00:58):
the one that the President imposed over. Remember he said
something about China's role in the fentanel trade, So that
looks like it's going to remain but no longer won
twenty five on China or so one forty five. And
then also Beijing is going to cut its retaliatory tariffs
from one hundred and twenty five percent to ten percent
for ninety days. Okay, so what does this mean. It's
(01:20):
not a deal, but it's getting closer. And you know,
when two sides talk, we sometimes get an actual negotiation.
I think both sides kind of cried uncle on this,
like I give, okay, this is not great, not good
for the economy, and just getting to our topic of
where we are with the actual job market. I think
(01:41):
this uncertainty has really been bad for recent college graduates,
and so I think that the quicker they can get
the deal, the better.
Speaker 2 (01:50):
And Jill, the quicker obviously the deal the better. As
we knew going in for those small mom and pop
local businesses, right, I mean, this has got to be
great news for them.
Speaker 3 (02:00):
Oh, absolutely, But you know there's still uncertainty, and I
think it's really important to remember that if we never
really knew what the purpose of with a lot of
these tariffs because there were three different rationales. It's like,
you know, whether it's the fentanyl trade was one, and
then maybe protecting things like the chip sector for national
security was one. And then there was the oh, it's
(02:20):
excuse me, we want more manufacturing back in the United States.
I mean, these tariff levels will not bring manufacturing back
to the United States overall. They just won't. And so
it'll be interesting to see kind of Well, so like
what are the next deals with other countries? You know,
where are we with Vietnam? What happens with the US
in Canada and Mexico. So we need more information. There
(02:41):
is still quite a bit of uncertainty.
Speaker 1 (02:43):
We'll put the link for career college advice for college
grads because it's always a great reset for us as well.
But you did it this year looking at age groups.
So what's the biggest piece of advice you have for
the youngest of those grads.
Speaker 3 (02:57):
Well, I take it from the advice from the twenty
five to the thirty five year olds, which is basically
like practice your interviews. Remembered that first job is just
the first of many, and it's not going to necessarily
define your career. It's a long and winding road, and
that your path may not be linear. These are important
things to remember as you go through a job search,
(03:18):
and if you're the parent, the grandparent, or friend of
somebody who's going through this, try to, you know, bring
this to the young grads forefront there as they approach
their job search, that you know, a job is a
good job. Like it doesn't have to be your dream job.
You don't have to hold out. It's a tighter job
market this year than it was last year, certainly much
(03:38):
tougher than it was a few years ago. So just
be very clear eyed about this. My favorite piece of
advice was from a graduate who graduated in two thousand
and nine into the Great Recession, and she said, my
advice is to take any job in your field or
at an organization you admire. Getting a foot in the
door is more important than a glamorous or perfect first role.
Speaker 2 (03:59):
Amen, And that is brilliant.
Speaker 1 (04:01):
Yeah, we'll leave it at that. Jill Slessingers, CBS News
Business Analyst, host of Jill on Money, World Traveler. Thank
you for your time today.
Speaker 3 (04:08):
Take care
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