Aime Williams (Financial Times) joins Chad Bown to help explain what has happened since President Trump’s sweeping April 2, 2025 tariff announcement. They discuss the surprises in the US import and export data from 2025, trading partner retaliation, the deals, and what comes next after the Supreme Court’s February 2026 decision (22:01).

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Pre-order a copy of Chad Bown’s new book with Soumaya Keynes, How to Win a Trade War, out in May. Bookshop.org has offered 15% off the book from now until the end of May using code HTWATW15.