WSJ: What’s News TUESDAY, JUNE 24, 2025

The Wall Street Journal

WSJ: 

What’s News

TUESDAY, JUNE 24, 2025
6/24/2025 5:52:00 AMShare This Episode
Will Israel and Iran’s Cease-Fire Hold?
A.M. Edition for June 24. After a week and a half of fighting, Israel and Iran say they’ve agreed to a cease-fire. Journal deputy Middle East bureau chief Shayndi Raice says despite the deal being confirmed by President Trump on social media yesterday evening, fresh missile attacks by Iran are raising questions about its longevity. Plus, NATO allies look set to more than double defense spending as they meet in The Hague today. And banks are hiking fees on their most exclusive credit cards, testing the limits of loyal customers. Luke Vargas hosts.

• cease-fire    /ˈsiːs ˌfaɪər/    「停戦」
• journal deputy Middle East bureau chief    /ˈʤɜrnəl ˈdɛpjəti ˈmɪdl iːst ˈbjʊroʊ ʧiːf/    「ジャーナル中東支局副局長」
• confirmed by President Trump on social media    /kənˈfɜrmd baɪ ˈprɛzɪdənt trʌmp ɒn ˈsoʊʃəl ˈmidiə/    「トランプ大統領がSNSで確認」
• fresh missile attacks    /frɛʃ ˈmɪsəl əˈtæks/    「新たなミサイル攻撃」
• raising questions about its longevity    /ˈreɪzɪŋ ˈkwɛsʧənz əˈbaʊt ɪts lɒnˈʤɛvɪti/    「持続性について疑問を生じさせている」
• NATO allies    /ˈneɪtoʊ ˈælaɪz/    「NATO加盟国」
• more than double defense spending    /mɔr ðæn ˈdʌbəl dɪˈfɛns ˈspɛndɪŋ/    「防衛費を2倍以上に増やす」

Luke Vargas: Israel and Iran agree to stop fighting. We'll get the latest. Plus, NATO allies gathered to set a major increase in defense spending in stone.

• set in stone    /sɛt ɪn stoʊn/    「確定させる」

Dan Michaels: Some countries such as Spain, Belgium, Italy, have had trouble hitting just 2%. So whether they'll be able to hit 5% is an open question, but at least people are committing to try to hit that.

• hitting 2%    /ˈhɪtɪŋ tu pərˈsɛnt/    「（目標の）2％を達成する」
• open question    /ˈoʊpən ˈkwɛsʧən/    「まだ分からない問題」
• committing to try    /kəˈmɪtɪŋ tu traɪ/    「努力することを約束する」

Luke Vargas: And we'll look at why it might be time to check your credit card statement for what could be an unexpectedly large annual fee. It's Tuesday, June 24th. I'm Luke Vargas for the Wall Street Journal, and here is the AM edition of What's News, the top headlines and business stories moving your world today. 

Israel and Iran say they have agreed to a ceasefire to end a week and a half of fighting. President Trump announced the deal on social media yesterday evening. We report that Qatar helped to secure Iran's agreement just hours after Tehran had attacked a U.S. base in the country while an official statement from Israel confirmed its acceptance of the ceasefire, noting that it had achieved its war aims, but is the deal holding? Shayndi Raice is the Journal's deputy Middle East bureau chief. Shayndi, what is the latest? We've got reports of this deal being agreed to by both sides, and yet also reports of Iranian missiles landing in Israel hours after that. What's going on here?

Shayndi Raice: It's a very good question. It's still very unclear right now. Yes, both sides have agreed to a ceasefire. Not too long after the ceasefire was agreed to, Iran launched some missiles towards Northern Israel. So Israel responded that they're going to forcefully respond to Iran. Now, I would say that in my experience with these kinds of ceasefires, you very often see one last launch even after the ceasefire has been agreed to. It's like people getting in their last licks. So the question is just going to be can they keep this contained to a quick tit-for-tat or will it quickly spiral out of control and the ceasefire will fall apart really before it's even started?

• very unclear    /ˈvɛri ˌʌnˈklɪr/    「非常に不明確な」
• ceasefire    /ˈsiːsˌfaɪər/    「停戦」
• Not too long after...    /nɒt tuː lɔːŋ ˈæftər/    「～からあまり時間が経たないうちに」
• launched some missiles towards...    /lɔːnʧt səm ˈmɪsaɪlz təˈwɔrdz/    「～に向けてミサイルを発射した」
• forcefully respond    /ˈfɔrsfəli rɪˈspɒnd/    「断固とした対応・報復をする」
• in my experience    /ɪn maɪ ɪkˈspɪəriəns/    「私の経験上」
• one last launch    /wʌn læst lɔːnʧ/    「最後の一発」
• get in their last licks    /ɡɛt ɪn ðɛər læst lɪks/    （口語）「最後の攻撃・反撃を加える」※やや比喩的な表現
• tit-for-tat    /ˌtɪt fɔr ˈtæt/    「報復の応酬、小規模な仕返し合戦」
• spiral out of control    /ˈspaɪrəl aʊt əv kənˈtroʊl/    「制御不能になる」
• fall apart before it’s even started    /fɔl əˈpɑːrt bɪˈfɔr ɪts ˈiːvən ˈstɑːrtɪd/    「始まる前にすでに崩壊する」

Luke Vargas: Shayndi, it would be helpful as a way of trying to handicap the odds of this being a successful ceasefire is just trying to understand the willingness from both sides to actually get to this point.

• as a way of trying to handicap the odds    /əz ə weɪ əv ˈtraɪɪŋ tu ˈhændɪˌkæp ði ɑdz/    「見通し（成功の可能性）を見極めるための手段として」
• ※「handicap the odds」「確率を見極める・予想する」という賭け事用語的な表現

Shayndi Raice: I think both sides very much want to get to this point. I think it's just a question of saving face. We reported yesterday that Israel was ready to wrap up its fighting. We had been told by our sources that Israel was very close in the coming days to completing its top target list. On the Iranian side, the biggest clue that we had that Iran was ready to wrap it up is that they didn't go for a major escalation with the United States after the United States struck their nuclear facilities. They did launch an attack on an American base in Qatar, but there were no casualties and they had given a heads-up to the U.S. and none of the missiles hit.

• very much want to get to this point    /ˈvɛri mʌʧ wɑnt tu ɡɛt tu ðɪs pɔɪnt/    「この段階に達することを強く望んでいる」＝「停戦を強く望んでいる」
• a question of saving face    /ə ˈkwɛsʧən əv ˈseɪvɪŋ feɪs/    「メンツを保つことが問題」
• ※"saving face"＝「面目を保つ」
• was ready to wrap up its fighting    /wəz ˈrɛdi tu ræp ʌp ɪts ˈfaɪtɪŋ/    「戦闘を終える準備ができていた」
• top target list    /tɑp ˈtɑrɡɪt lɪst/    「最重要目標リスト」
• the biggest clue    /ðə ˈbɪɡəst kluː/    「最大の手がかり、最も明確な兆候」
• didn’t go for a major escalation    /ˈdɪdənt ɡoʊ fɔr ə ˈmeɪʤər ˌɛskəˈleɪʃən/    「大規模なエスカレーションには踏み切らなかった」
• struck their nuclear facilities    /strʌk ðɛr ˈnuːkliər fəˈsɪlətiz/    「彼らの核施設を攻撃した」
• launch an attack on a base    /lɔnʧ æn əˈtæk ɒn ə beɪs/    「基地を攻撃する」
• gave a heads-up    /ɡeɪv ə ˈhɛdz ˌʌp/    「（前もって）警告・通告した」
• none of the missiles hit    /nʌn əv ðə ˈmɪsəlz hɪt/    「ミサイルは一発も命中しなかった」

Luke Vargas: Is there anything else we should be watching for next besides the skies to see if attacks are continuing?

• Is there anything else we should be watching for?    /ɪz ðɛr ˈɛnɪθɪŋ ɛls wi ʃʊd bi ˈwɑʧɪŋ fɔr/    「他に注目すべきことはありますか？」
• besides the skies    /bɪˈsaɪdz ðə skaɪz/    「空の様子以外に」
• ※空＝ミサイル攻撃の兆候を監視する意味合い
• to see if attacks are continuing    /tu si ɪf əˈtæks ɑr kənˈtɪnjuɪŋ/    「攻撃が続いているかどうかを見るために」

Shayndi Raice: I think the biggest question from what I can tell is not so much about whether attacks are going to be continuing in the short term, but what is going to be the long-term repercussions of this? Mostly how significantly has Israel and the United States damaged Iran's nuclear capabilities? What will happen to Iran now? Will they back down? Will it take them years to rebuild? Will it take them months? Will they try to go underground and pull out of any sort of diplomatic agreements that would allow for oversight of their nuclear program? And the reason that that's important is because that will determine whether Iran and Israel get into another round of fighting in the future. And so if Israel has only set Iran back for a few months and very soon we see Iran trying to rebuild, this could force Israel to decide that they have to intervene again militarily and then we could be back to where we are.

Luke Vargas: Shayndi Raice is the Journal's deputy Middle East bureau chief. Thank you so much for filling us in on these details.

Shayndi Raice: Thanks, Luke.

Luke Vargas: Meanwhile, more high stakes diplomacy is set to get underway in The Hague today as NATO members meet for an annual summit. Journal Brussels bureau chief, Dan Michaels, is there. Dan, as far as I understand, there isn't a direct NATO link to the fighting lately involving Israel, the U.S., and Iran, but I imagine it is very much on the minds of Alliance members who are due to have some pretty difficult weighty conversations about defense spending military readiness.

• Meanwhile    /ˈmiːnˌwaɪl/    「一方で、その間に」
• high stakes diplomacy    /haɪ steɪks dɪˈpləʊməsi/    「重大な（リスクも高い）外交交渉」※"high stakes"＝失敗の代償が大きい
• get underway    /ɡɛt ˌʌndərˈweɪ/    「始まる、開始される」
• annual summit    /ˈænjuəl ˈsʌmɪt/    「年次首脳会議」
• as far as I understand    /əz fɑr æz aɪ ˌʌndərˈstænd/    「私の理解では」
• direct NATO link    /dəˈrɛkt ˈneɪtoʊ lɪŋk/    「NATOとの直接的な関係」
• very much on the minds of    /ˈvɛri mʌʧ ɒn ðə maɪndz ʌv/    「（人々の）頭から離れない、重大な関心ごとになっている」
• Alliance members    /əˈlaɪəns ˈmɛmbərz/    「同盟国（＝NATO加盟国）」
• weighty conversations    /ˈweɪti ˌkɑnvərˈseɪʃənz/    「重大な議論、重い内容の会話」
• military readiness    /ˈmɪlɪˌtɛri ˈrɛdinəs/    「軍の即応態勢」

be due to    ～する予定である、期日が来ている    やや形式的、確定的
be going to    ～するつもりである    話し手の意志も含む、カジュアル
be set to    ～する予定になっている    すでに段取りが整っている
be scheduled to    ～するよう予定されている    公式・事務的な響き

Dan Michaels: Indeed. Iran is sort of hanging over conversations here in The Hague today and tomorrow. One of the big lessons learned from recent events both in Iran and also in Russia where Ukraine staged the dramatic drone strike a few weeks ago is that military hardware could be very vulnerable on the ground before its deployed.

• Indeed    /ɪnˈdiːd/    「まさにその通り」「確かに」 ※強調の表現
• sort of hanging over    /ˈsɔːrt əv ˈhæŋɪŋ ˈoʊvər/    「～に重くのしかかっている、影を落としている」
• 比喩表現として「雰囲気を支配している」ニュアンス
• conversations in The Hague    /ˌkɒnvəˈseɪʃənz ɪn ðə heɪɡ/    「ハーグでの議論・会談」
• lessons learned from...    /ˈlɛsənz lɜrnd frəm/    「～から得た教訓」
• stage a dramatic drone strike    /steɪʤ ə drəˈmætɪk droʊn straɪk/    「劇的な（印象的な）ドローン攻撃を仕掛ける」
• ※"stage" は「演出する・敢行する」意味
• military hardware    /ˈmɪlɪˌtɛri ˈhɑrdˌwɛr/    「兵器・軍用装備」
• vulnerable on the ground    /ˈvʌlnərəbəl ɒn ðə ɡraʊnd/    「地上にある状態では脆弱である」
• before it’s deployed    /bɪˈfɔr ɪts dɪˈplɔɪd/    「配備・展開される前に」

 One of the reasons the Israelis were very successful in their strikes on Iran last week was the Israeli agents on the ground apparently knocked out air defenses before the air strikes started. So NATO is starting to think a lot more about how to protect its forces and homelands before there's a war. We hope that there won't be a war. And one way that NATO officials say to avoid that is to make it clear that NATO is ready to fight if it needs to. 

• One of the reasons ... was that    /ˈwʌn əv ðə ˈriːzənz ... wəz ðæt/    「～が成功した理由の一つは～だった」
• Israeli agents on the ground    /ɪzˈreɪli ˈeɪʤənts ɒn ðə ɡraʊnd/    「イスラエルの地上工作員」
• ※「on the ground」は「現地で」の意味
• knocked out air defenses    /nɑkt aʊt ɛr dɪˈfɛnsɪz/    「防空システムを無力化した」
• ※「knock out」は「機能を停止させる・壊す」意味
• starting to think a lot more about    /ˈstɑrtɪŋ tu θɪŋk ə lɑt mɔr əˈbaʊt/    「ますます～を考えるようになっている」
• protect its forces and homelands    /prəˈtɛkt ɪts ˈfɔrsɪz ənd ˈhoʊmˌlændz/    「自軍および自国を守る」
• before there's a war    /bɪˈfɔr ðɛrz ə wɔr/    「戦争になる前に」
• we hope that there won’t be a war    /wi hoʊp ðət ðɛr woʊnt bi ə wɔr/    「戦争にならないことを願っている」
• make it clear that NATO is ready to fight if it needs to    /meɪk ɪt klɪr ðət ˈneɪtoʊ ɪz ˈrɛdi tu faɪt ɪf ɪt nidz tu/    「NATOが必要であれば戦う用意があることを明確に示す」

And being ready to fight means not just having tanks in armories and equipment like that, airplanes sitting in airfields. It's making sure that they are ready to deploy and able to deploy, that the highways can carry them, that ports are able to move equipment off of ships, that telephone systems work and the governments can continue functioning. And these are issues that NATO for the first time is going to specifically devote money to.

Luke Vargas: Specifically devote money to. And there are other sort of firm pledges around military spending or increases in military spending that I understand NATO leadership wants to leave this summit having inked basically.

• specifically devote money to    /spəˈsɪfɪkli dɪˈvoʊt ˈmʌni tuː/    「特定の目的に資金を充てる」
• この場合は「軍事」に対して
• firm pledges    /fɜrm ˈplɛʤɪz/    「確かな約束、強固な誓約」
• around military spending    /əˈraʊnd ˈmɪlɪˌtɛri ˈspɛndɪŋ/    「軍事支出に関して」
• leave this summit having inked    /liːv ðɪs ˈsʌmɪt ˈhævɪŋ ɪŋkt/    「このサミットを（合意文書に）署名して終えたい」
• ※"ink" は動詞で「署名する、正式に合意する」
• basically    /ˈbeɪsɪkli/    「基本的に、大まかに言えば」

Dan Michaels: That is the big deliverable of this summit. NATO has agreed in principle and it's going to be essentially carved in stone here to more than double defense spending from a previous pledge of 2% of gross domestic product economic output that was agreed in 2014. And the event really will be essentially a victory lap for President Trump who will be able to say that he pushed the other NATO members to agree to 5%. It's an open question whether everyone will be able to meet the target over coming years. Some countries such as Spain, Belgium, Italy, have had trouble hitting just 2%. So whether they'll be able to hit 5% is an open question, but at least people are committing to try to hit that. And even if the direction is achieved, the defense and military spending are increased significantly. That's the main thing that NATO wants to achieve to just be more ready in case of hostilities. The big fear is from Russia.

• the big deliverable    /ðə bɪɡ dɪˈlɪvərəbəl/    「最大の成果・成果物」
• ※「deliverable」は「達成・提出すべき成果」の意味
• agreed in principle    /əˈɡriːd ɪn ˈprɪnsəpəl/    「原則として合意した」
• carved in stone    /kɑrvd ɪn stoʊn/    「変更不可能なほどに固まっている」「石に刻まれたように確定的」
• double defense spending    /ˈdʌbəl dɪˈfɛns ˈspɛndɪŋ/    「防衛費を倍増させる」
• from a previous pledge of 2% of GDP    /frəm ə ˈpriːviəs plɛʤ əv tu pɚˈsɛnt əv ˌʤiːdiːˈpiː/    「以前のGDP比2％という約束から」
• economic output    /ˌɛkəˈnɑmɪk ˈaʊtpʊt/    「経済産出量、GDP」
• a victory lap    /ə ˈvɪktəri læp/    「勝利を祝う行動（特に誇示的な）」
• pushed the other NATO members to agree    /pʊʃt ði ˈʌðər ˈneɪtoʊ ˈmɛmbɚz tu əˈɡriː/    「他の加盟国を説得して同意させた」

Luke Vargas: We'll be tracking it closely. Dan Michaels is The Wall Street Journal's Brussels bureau chief. Dan, thanks so much for the update. Good talking with you.

Dan Michaels: Thanks.

Luke Vargas: Coming up, we've got the rest of the day's news as the Supreme Court weighs in on deporting migrants to third party countries and voting ends in New York City's heated Democratic primary. Those stories and more after the break. 

The Supreme Court has cleared the way for the Trump administration to swiftly send migrants facing final deportation orders to countries that they aren't from. The court's conservative majority stayed a lower court order that had said individuals on track to be deported to third countries must be given meaningful notice of their destination, giving them time to object. Crucially, the Supreme Court's order doesn't resolve questions about the Trump administration's legal obligations to the migrants, an issue that is continuing to be litigated in lower courts. 

• clear the way for    /klɪər ðə weɪ fɔr/    「～の道を開く、～ができるようにする」
• swiftly send migrants    /ˈswɪftli sɛnd ˈmaɪɡrənts/    「迅速に移民を送還する」
• facing final deportation orders    /ˈfeɪsɪŋ ˈfaɪnəl ˌdiːpɔrˈteɪʃən ˈɔrdərz/    「最終的な強制送還命令に直面している」
• third countries    /θɜrd ˈkʌntriz/    「第三国、出身国以外の国」
• conservative majority    /kənˈsɜrvətɪv məˈdʒɔrɪti/    「保守派多数派」
• stay a lower court order    /steɪ ə ˈloʊər kɔrt ˈɔrdər/    「下級裁判所の命令を差し止める（執行を停止する）」
• meaningful notice    /ˈminɪŋfəl ˈnoʊtɪs/    「十分な通知」
• on track to be deported    /ɑn træk tu bi dɪˈpɔrtɪd/    「送還される見込みにある」
• crucially    /ˈkruːʃəli/    「重要なことに」
• legal obligations    /ˈligəl ˌɑbləˈgeɪʃənz/    「法的義務」
• continuing to be litigated    /kənˈtɪnjuɪŋ tu bi ˈlɪtɪˌgeɪtɪd/    「引き続き裁判で争われている」

After months of intense campaigning, voting is ending today in New York City's Democratic mayoral primary. A poll released yesterday shows former governor Andrew Cuomo likely to top of first round of rank choice voting. But Democratic Socialist Zohran Mamdani winning after eight rounds as supporters of less popular candidates have their votes redistributed. The race between Cuomo, who resigned as governor in 2021 following sexual harassment claims he's denied, and Mamdani, a progressive less than half of Cuomo's age, is viewed by some voters as a referendum on the future of the Democratic Party and the candidates played up that contrast in their final advertising blitz.

• intense campaigning    /ɪnˈtɛns kæmˈpeɪnɪŋ/    「激しい選挙活動」
• rank choice voting    /ræŋk ʧɔɪs ˈvoʊtɪŋ/    「順位選択投票」有権者が候補者を順位付けする投票方式
• top of first round    /tɑp əv fɜrst raʊnd/    「第1ラウンドでトップになる」
• votes redistributed    /voʊts ˌriːdɪˈstrɪbjutɪd/    「票が再配分される」順位選択投票の仕組みで、低得票候補の票が次点候補に移る
• sexual harassment claims he's denied    /ˈsɛkʃuəl ˈhærəsmənt kleɪmz hiz dɪˈnaɪd/    「本人が否定しているセクハラ疑惑」
• progressive    /prəˈɡrɛsɪv/    「進歩派」
• referendum    /ˌrɛfəˈrɛndəm/    「国民審判、国民投票」有権者の支持を問う意味での審判」
• played up that contrast    /pleɪd ʌp ðæt ˈkɑntræst/    「その対比を強調した」

Speaker 4: LA's in chaos, now Trump's coming for New York. You think a 33-year-old legislator who's passed three bills can stop him? Andrew Cuomo has managed a state and managed crises from COVID to Trump. We need someone experienced to stop him.

Speaker 5: Billionaires and corporations, the same people who put Donald Trump back in the White House are now trying to elect Andrew Cuomo. They're spending all this money for a very simple reason, corporations don't want to pay just a little bit more in taxes to make a better city for all of us.

• LA’s in chaos    /ˌɛlˈeɪz ɪn ˈkeɪ.ɑs/    「ロサンゼルスは混乱している」
• coming for [someone/somewhere]    /ˈkʌmɪŋ fɔr/    「（対象を）攻撃しようとしている、狙っている」
• 33-year-old legislator    /ˈθɜrti ˈθri jɪr oʊld ˈlɛʤɪsleɪtər/    「33歳の立法者」
• has passed three bills    /hæz pæst θri bɪlz/    「3本の法案を通した」
• managed a state / managed crises    /ˈmænɪʤd ə steɪt / ˈmænɪʤd ˈkraɪsiːz/    「州を統治した／危機に対処した」
• billionaires and corporations    /ˈbɪljəˌnɛrz ənd ˌkɔr.pəˈreɪ.ʃənz/    「億万長者と大企業」
• put [Trump] back in the White House    /pʊt bæk ɪn ðə waɪt haʊs/    「（トランプを）ホワイトハウスに戻した」
• spending all this money for a very simple reason    /ˈspɛndɪŋ ɔl ðɪs ˈmʌni fɔr ə ˈvɛri ˈsɪmpəl ˈriːzn/    「非常に単純な理由で大金を使っている」
• don’t want to pay just a little bit more in taxes    /doʊnt wɑnt tu peɪ ʤʌst ə ˈlɪtəl bɪt mɔr ɪn ˈtæksɪz/    「ほんの少し税金を多く払いたくない」
• to make a better city for all of us    /tu meɪk ə ˈbɛtər ˈsɪti fɔr ɔl əv ʌs/    「私たち全員のためにより良い都市をつくるために」

Luke Vargas: We'll bring you the results from the primary tomorrow morning.

We are exclusively reporting that nearly 2 million student loan borrowers are at risk of having their pay docked by the government this summer with their tax returns and benefits also at risk. That says credit reporting company TransUnion says roughly 6 million federal student loan borrowers are 90 days or more passed due after the Education Department restarted collections on defaulted student loans in May following a pandemic-era reprieve. A third of those borrowers could move into default this month and millions more by September. Borrowers could see up to 15% of their wages automatically deducted from their paychecks until past due payments are paid in full or their default status is resolved. 

• exclusively reporting    /ɪkˈskluːsɪvli rɪˈpɔːrtɪŋ/    「独占報道している」
• at risk of having their pay docked    /ət rɪsk əv ˈhævɪŋ ðɛr peɪ dɑkt/    「給与が差し押さえられる危険がある」
• ※ dock = 減額する、差し引く
• tax returns and benefits also at risk    /tæks rɪˈtɜrnz ənd ˈbɛnəfɪts ˈɔlsoʊ ət rɪsk/    「税還付金や給付金も差し押さえのリスクがある」
• credit reporting company TransUnion    /ˈkrɛdɪt rɪˈpɔrtɪŋ ˈkʌmpəni trænsˈjuːnjən/    信用調査会社トランスユニオン
• 90 days or more past due    /ˈnaɪnti deɪz ɔr mɔr pæst du/    「90日以上の延滞状態」
• pandemic-era reprieve    /pænˈdɛmɪk ˈɛrə rɪˈpriːv/    「パンデミック期間中の猶予措置」
• ※ reprieve = 一時的な猶予
• move into default    /muːv ˈɪntu dɪˈfɔlt/    「債務不履行状態に陥る」
• wages automatically deducted from their paychecks    /ˈweɪʤɪz ˌɔtəˈmætɪkli dɪˈdʌktɪd frəm ðɛr ˈpeɪˌʧɛks/    「給与から自動的に賃金が差し引かれる」
• past due payments    /pæst du ˈpeɪmənts/    「延滞している支払い」
• resolve default status    /rɪˈzɑːlv dɪˈfɔlt ˈstætəs/    「債務不履行状態を解消する」
   

And if you thought that your premium credit card was costing you just a nominal fee, think again. That's because companies like JPMorgan Chase are raising prices on their most exclusive credit cards by as much as 45% while American Express is expected to hike its $695 fee this fall. Increases that that Journal reporter Jacob Passy says are taking some customers by surprise.

• premium credit card    /ˈpriːmiəm ˈkrɛdɪt kɑrd/    「プレミアムクレジットカード、高級カード」
• nominal fee    /ˈnɑmənəl fiː/    「ごくわずかな料金、名目的な料金」
• think again    /θɪŋk əˈgɛn/    「もう一度よく考え直せ」※注意喚起や皮肉の表現としてよく使われる
• raising prices by as much as 45%    /ˈreɪzɪŋ ˈpraɪsɪz baɪ æz mʌʧ æz ˈfɔrti faɪv pɚˈsɛnt/    「最大で45%も価格を引き上げている」
• expected to hike its $695 fee    /ɪkˈspɛktɪd tu haɪk ɪts ˌsɪks ˈnaɪnti faɪv dɑlər fiː/    「695ドルの年会費を値上げする見込み」
• taking some customers by surprise    /ˈteɪkɪŋ sʌm ˈkʌstəmərz baɪ sərˈpraɪz/    「一部の顧客にとって予想外だった」※「驚かせる」という表現

Jacob Passy: We spoke with one person who wasn't even aware of what he was paying to begin with. So to him, the new annual fee was quite eye-popping. For other folks like an investment baker named Jacob Moon, who we spoke to, they're more concerned about the fine print that comes with the benefits attached to the card than he is with the annual fee. So for him, it almost is beginning to feel like homework to redeem the benefits and rewards that come with the card. So to him, that's a bigger issue than how much the card itself costs. And also a lot of people simply appreciate these cards for the exclusivity associated with them. It's becoming kind of a status symbol to have a Chase Sapphire Reserve or an Amex Platinum card in your wallet.

• wasn't even aware of what he was paying    /ˈwɑzənt ˈiːvən əˈwɛr əv wʌt hi wəz ˈpeɪɪŋ/    「自分が何にいくら払っているかさえ把握していなかった」
• the new annual fee was quite eye-popping    /ðə nuː ˈænjuəl fiː wəz kwaɪt ˈaɪˌpɑpɪŋ/    「新しい年会費は非常に驚くべき額だった」
• ※ eye-popping = びっくりするような
• more concerned about the fine print    /mɔr kənˈsɜrnd əˈbaʊt ðə faɪn prɪnt/    「細則（＝注意事項・条件）を気にしている」
• redeem the benefits and rewards    /rɪˈdiːm ðə ˈbɛnəfɪts ənd rɪˈwɔrdz/    「特典や報酬を引き換える、利用する」
• feel like homework    /fiːl laɪk ˈhoʊmwɜrk/    「（使うのが）宿題みたいに感じる、面倒に思える」
• a bigger issue than how much the card itself costs    /ə ˈbɪɡər ˈɪʃuː ðæn haʊ mʌʧ ðə kɑrd ɪtˈsɛlf kɔsts/    「カードの価格そのものよりも大きな問題である」
• appreciate these cards for the exclusivity associated    /əˈpriːʃiˌeɪt ðiːz kɑrdz fɔr ði ɪkˌskluːˈsɪvəti əˈsoʊsieɪtɪd/    「これらのカードが持つ排他性（＝特別感）を評価している」
• status symbol    /ˈsteɪtəs ˈsɪmbəl/    「ステータスシンボル」

Luke Vargas: But even if some customers are turned off by the higher fees, Jacob said the move still makes sense for issuers.

• turned off by the higher fees    /tɜrnd ɔf baɪ ðə ˈhaɪər fiːz/    「（高い年会費に）嫌気が差す、関心をなくす」

Jacob Passy: For starters, they would be more interested in keeping the revenue from more devoted customers. The more likely you are to use the card, the more they benefit because they make a lot of money off of the interchange fees that they charge to merchants. So to them, they would rather have someone who's going to use this card as the primary card in their wallet than someone who might open it, might claim some of the benefits, but otherwise not use it. So they're not too worried at this point about the drop-off they might see. But of course, if fees keep going up and that changes consumer behavior, I think you could see a response.

• devoted customers    /dɪˈvoʊtɪd ˈkʌstəmərz/    「忠実な顧客、常連」
• interchange fees    /ˈɪntərˌʧeɪnʤ fiːz/    「インターチェンジ手数料」※加盟店がカード会社に支払う決済手数料
• primary card in their wallet    /ˈpraɪˌmɛri kɑrd ɪn ðɛr ˈwɑlɪt/    「財布の中でメインで使うカード」
• claim some of the benefits    /kleɪm sʌm əv ðə ˈbɛnəfɪts/    「特典だけ受け取る、享受する」
• not too worried about the drop-off    /nɑt tu ˈwɜrid əˈbaʊt ðə ˈdrɑpˌɔf/    「顧客離れにはあまり心配していない」
• if that changes consumer behavior    /ɪf ðæt ˈʧeɪnʤəz kənˈsumər bɪˈheɪvjər/    「それによって消費者の行動が変化すれば」

Luke Vargas: And that's it for What's News for this Tuesday morning. Today's show was produced by Daniel Bach and Kate Bullivant. Our supervising producer was Sandra Kilhof. And I'm Luke Vargas for The Wall Street Journal. We will be back tonight with a new show. Until then, thanks for listening.