President Trump is warning Americans that they might need to give up some new dolls and pencils as his tariff plans upend the world economic order. But as people brace for the trade wars to hit their pocketbooks, there’s still a question of whether Trump will back down. Dana Milbank, Catherine Rampell and Eduardo Porter discuss the broken calculations on both tariffs and the Republican budget bill.

Additional reading by our columnists:

Eduardo Porter: As America goes rogue, China eyes an opening

Catherine Rampell: Trump demands wartime sacrifices — just not for himself

Dana Milbank: As wreckage piles up, Trump and his aides retreat to fantasyland

Ep. 212 - The Dr. Pepper Cast