In May, after Trump announced a thorough regime of tariffs, supply chain experts warned that Americans would be looking at empty shelves by the end of June. But here we are in late July and the stores still seem fully stocked. So what happened?

Guest: Justin Wolfers, professor of economics at the University of Michigan

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Podcast production by Ethan Oberman, Elena Schwartz, Paige Osburn, Anna Phillips, Madeline Ducharme, and Rob Gunther.

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What Next | Why The Shelves Aren't Empty (Yet)