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On this episode, The Washington Post's Libby Casey, Rhonda Colvin and James Hohmann are joined by White House reporter Cat Zakrzewski to discuss the latest on the massive set of tariffs President Trump is putting into place. Plus, how will tariffs affect consumers - and is Congress finally preparing to take some of its own power back?
Then: The deadline for a TikTok sale is coming up soon. The crew breaks down the latest on attempts to negotiate a sale to a U.S. buyer.
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Economists and legal experts question how the strongest economy in the world can be facing a national emergency over the trade deficit.
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As President Trump finally unveils his global tariff plan — setting a baseline 10% tariff on all imported goods, with additional hikes apparently based on individual countries' trade balances with the United States — economists like our guest Richard Wolff warn it will have grave economic effects on American consumers and lead to a recession. Wolff says the Trump administration's tariff strategy is borne out of an ahistorical "notion of the United States as a victim" despite the fact that "we have been one of the greatest beneficiaries in the last 50 years of economic wealth, particularly for people at the top." In response to the growing economic fortunes of the rest of the world and the associated decline in U.S. hegemony, Trump and his allies are "striking out at other people" in desperation and denial of an end to U.S. imperial dominance. "[It's] not going to work," says Wolff.
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(Second column, 4th story, link)
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The sweeping levies announced Wednesday will reach unexpected corners of the world.
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The party wants a government campaign to encourage people to buy UK-made products to support firms.
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The latest news on Trump's presidency and updates on the wide-ranging tariffs he announced on multiple countries and imports Wednesday.
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The negotiations are especially urgent for New Delhi as it will be hit hard by Trump's reciprocal tariffs.
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As stiff new tariffs on Canada, Mexico and China took effect on Tuesday, Prime Minister Justin Trudeau warned that Trump's moves are aimed at "a total collapse of the Canadian economy, because that'll make it easier to annex us." Canada relies on the U.S. for 75% of exports and a third of its imports. For more, we speak with a senior researcher at the Canadian Centre for Policy Alternatives, Hadrian Mertins-Kirkwood. "If there's one feeling in Canada right now, it's probably betrayal. We trusted this relationship with the U.S. for a century. We count on the U.S. as an economic partner. We're obviously very closely culturally tied. And this just kind of throws everything into question," says Mertins-Kirkwood.
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