Summary of "Getting Rid Of The Penny? | February 12, 2025"
In this episode of CNN 10, host Coy Wire discusses several current topics, starting with President Donald Trump's recent executive order imposing a 25% tariff on all steel and aluminum imports. This move is intended to bolster the American steel industry, which produces significantly more steel than it imports, although the U.S. economy has shifted away from manufacturing. The tariffs are expected to raise production costs for various consumer goods, ultimately impacting consumers who may face higher prices.
The discussion then shifts to the topic of the penny, with Trump proposing to halt its production due to the cost of minting it exceeding its value. Advocates for eliminating the penny argue it is a nuisance and costly to produce, while opponents warn that its removal could lead to inflation as businesses might round prices up. Experts suggest that while Trump can stop new pennies from being minted, eliminating the penny from circulation would require Congressional action and could be expensive.
The episode also highlights a scientific discovery about polar bears, revealing that their fur contains oily compounds that prevent ice from sticking, which could lead to new anti-icing products. Lastly, a rare sighting of a deep-sea angler fish near the surface off the coast of Spain is reported, marking a significant event for marine biologists.
Presenters/Contributors:
- Coy Wire
- Brian Todd
- Randy K
- Aana Scatola
Category
News and Commentary
