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The reverberations from President Trump’s new global tariffs have rocked financial markets and world capitals. American stocks have plunged, and foreign leaders have issued forceful condemnations.
The Times journalists Michael Barbaro, Peter Goodman, Natalie Kitroeff and Jeanna Smialek sit down to try to make sense of Mr. Trump’s strategy and its consequences.
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On today’s episode
Peter S. Goodman, who covers the global economy for The New York Times.
Natalie Kitroeff, the Mexico City bureau chief for The New York Times.
Jeanna Smialek, the Brussels bureau chief for The New York Times.
Background reading
Read about how Mr. Trump’s one-for-one tariff plan threatens the global economy.
The trade war set off “max pessimism” in the global markets.
The tariffs have widened the chasm between allies and Washington.
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We aim to make transcripts available the next workday after an episode’s publication. You can find them at the top of the page.
The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, M.J. Davis Lin, Dan Powell, Sydney Harper, Michael Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle Bonja, Diana Nguyen, Marion Lozano, Rob Szypko, Elisheba Ittoop, Mooj Zadie, Patricia Willens, Rowan Niemisto, Jody Becker, Rikki Novetsky, Nina Feldman, Will Reid, Carlos Prieto, Ben Calhoun, Susan Lee, Lexie Diao, Mary Wilson, Alex Stern, Sophia Lanman, Shannon Lin, Diane Wong, Devon Taylor, Alyssa Moxley, Olivia Natt, Daniel Ramirez, Brendan Klinkenberg and Chris Haxel.
Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly. Special thanks to Sam Dolnick, Paula Szuchman, Lisa Tobin, Larissa Anderson, Julia Simon, Mahima Chablani, Elizabeth Davis-Moorer, Jeffrey Miranda, Maddy Masiello, Isabella Anderson, Nina Lassam and Nick Pitman.