From The Economist.

After months of bluster, he’s finally done it. At a ceremony in the White House Rose Garden, Donald Trump overturned decades of American trade policy with a simple signature. The new wave of trade restrictions (https://www.economist.com/finance-and-economics/2025/04/03/trump-takes-americas-trade-policies-back-to-the-19th-century?utm_campaign=a.io&utm_medium=audio.podcast.np&utm_source=moneytalks&utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&utm_term=sa.listeners), if implemented in full, will raise tariffs (https://www.economist.com/leaders/2025/04/03/president-trumps-mindless-tariffs-will-cause-economic-havoc?utm_campaign=a.io&utm_medium=audio.podcast.np&utm_source=moneytalks&utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&utm_term=sa.listeners) to the highest level in more than a century. So how bad could it get?

Hosts: Mike Bird and Ethan Wu. Guests: The Economist’s Simon Rabinovitch; and Douglas Irwin, a professor of economics at Dartmouth College.

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