Hi, it's Diane. On my mind, the impact of Trump's stunning about phase on tariffs.

Yesterday, the Post had announced he's delaying the reciprocal tariffs he imposed on dozens of countries for 90 days.

But he's ratcheting up pressure on China, which he accused of ripping off the U.S. for decades.

This came a week after, quote, Liberation Day, when Trump declared a national emergency

in order to put in place the most sweeping trade duties since 1910.

This sent global markets into a tailspin and unleashed a flood of concern from the business community.

We could still very much be flirting with a recession. We could be flirting with permanent damage

to our relationship with our allies. Jeff Stein is White House economics reporter at the

Washington Post.

He joins me to explain what all this chaos means for global trade, the U.S. economy, and what could come next.

Jeff, if you would, tell me your impression of what happened yesterday to change President Trump's mind.

Well, it's been a little comical in the last 24 hours because all of the president's senior aides have insisted up and down that the massive retreat the president did yesterday was all part of a plan that was

strategically thought out sort of weeks in advance they've suggested to you know get maximum

leverage from the white House over negotiations with

our trading partners. And yet, the president himself has been remarkably clear that the reason,

or a big part of the reason that he backed down, was not just seeing Jamie Diamond on television,

but the fact that the bond markets were going, I think in his words,

yippy, by which he meant, you know, showing real gyrations, fluctuations that could threaten

the foundations of the global economy. And so it's this been amazing, this amazing split screen

of Trump's defenders saying that this was all, you know, part of a master plan.

And Trump himself saying, yeah, you know, I got kind of spooked by the bond market

and decided to call this off.

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