From ‘The Two-Handed Economist’: Trump Tariff Ruling, De Minimis Exemption, and an Economy Losing Steam

We’re taking a short break as we gear up to launch Season 2 of the podcast next week. But we’re excited to share the latest episode of “The Two-Handed Economist,” a podcast from our Center for Tax and Budget Policy. On this episode, John Diamond explores three major economic developments from the past week, including a federal appeals ruling that struck down President Donald Trump’s sweeping tariffs and new jobs numbers that show an increasingly fragile labor market. John breaks down what all this means and how a reversal of Trump’s tariffs could help the Fed save the economy. This conversation was recorded on Sept. 3, 2025.  Clips used in this episode: “BREAKING: U.S. appeals court rules Trump's global tariffs are illegal,” NBC News, August 29, 2025. “‘US will be destroyed if…’” The Economic Times, September 1, 2025. “Trump ends tariff exemption for low-value packages,” CNN, August 29, 2025. “US July Jolts Report: Job openings fall by 176,000,” Bloomberg Television, September 3, 2025. Follow John Diamond on X (@jw_diamond) and LinkedIn. You can follow @BakerInstitute on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.