Swamp Notes: The costs of Trump’s tariffs

This week the US imposed new tariffs on most of the world. The FT’s US national editor Ed Luce joins us to analyze why they are baffling economists and worrying markets. Ed’s take? The US is taking itself out of the globalised economic system it built, and the consequences could be grave. Mentioned in this podcast:Donald Trump’s beautiful trade warTrump tracker: US tariffsSign up for the FT’s Swamp Notes newsletter hereSwamp Notes is produced by Katya Kumkova. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Special thanks to Pierre Nicholson. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

What this episode covers

This week the US imposed new tariffs on most of the world. The FT’s US national editor Ed Luce joins us to analyze why they are baffling economists and worrying markets. Ed’s take? The US is taking itself out of the globalised economic system it built, and the consequences could be grave. Mentioned in this podcast:Donald Trump’s beautiful trade warTrump tracker: US tariffsSign up for the FT’s Swamp Notes newsletter hereSwamp Notes is produced by Katya Kumkova. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Special thanks to Pierre Nicholson. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

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This episode was published on April 5, 2025.

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