Uncertainty has been the economic buzzword for some time now.

Will it continue to be the way we describe the economy in the months to come?

From American Public Media, this is Marketplace.

In New York, I'm Kristen Schwab and for Kai Risdahl. It's Friday, February 27th. It's good to be here with you. As always, on Fridays, we cover seven days of this economy in seven-ish minutes. With us today is Anna Swanson, who covers trade and economics at the New York Times. Also, Heather Long, chief economist at Navy Federal Credit Union. Hello, you two.

Hey, Kristen. Happy Friday. So, Anna, I guess unsurprisingly, I want to start with tariffs. Since the Supreme Court ruling last week, President Trump created a patchwork of tariffs to keep his policies going. Can you update us on where things stand right now?

Yeah, it's been quite a ride over here in tariff land. So last Friday, of course, while I was trying to be on vacation, the Supreme Court overturned the president's tariffs,

which was just a really dramatic rebuke of a central policy for the president.

Trump, you know, then immediately replace those old tariffs with a new 10% global tariff.

He has threatened to raise that to 15%, but that has not actually come to pass at this point.

So for now it's 10%, but that tariff has an expiration date.

It only lasts for 150 days without congressional approval, which seems kind of unlikely at this point with the midterms approaching and people concerned about tariffs increasing prices. So the administration is working on a variety of other new tariffs that could

come into effect potentially this summer to replace it. So it's been a really dramatically

shifting landscape for companies, you know, trying to figure out what these new tariffs could be.

And these terms of trade translate into a lot of money for them. So they're watching it very closely, obviously.

Yeah, Anna, I think, you know, at first we weren't sure what companies were going to do about this, how intensely they

would kind of proceed forward with lawsuits. And it seems like a lot of them have filed.

Yeah, I think that is an insurance policy right now. So you are seeing high-profile companies like

Costco, FedEx, you know, going to court to sue to try to preserve a refund.

Of course, doing this brings you into the firing line for the Trump administration.

Companies are also kind of wary of raising their hand.

And, you know, someone was telling me being perceived as dancing on the grave of the Trump

administration's, you know, tariff policy

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