Intro

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.

Guest:

• 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.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

Photo: Scott McIntyre for The New York Times

Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.