Support for NPR comes from NPR member stations and Eric and Wendy Schmidt through the Schmidt Family Foundation, working toward a healthy, resilient, secure world for all on the web at theshmit.org.

Hey, it's Naila. I'm your host for this edition of the News Roundup. Just a quick heads up before we start the show. The news is rapidly changing and things may have changed by the time you hear this episode. Stay up to date with

news by listening to your local NPR member station and visiting npr.org for all the latest.

Thanks for listening and enjoy the show.

You're listening to the 1A podcast. I'm Naila Boodoo, and this is the news roundup.

Last night, the president issued executive orders to further reshape the global economy, with a plan for tariffs from 10 to 1 to 41 percent on dozens of countries.

These are set to now take effect next Thursday, not today.

Some countries which have recently secured trade agreements with the U.S.

received the rates they negotiated, including South Korea and Japan as well as the EU,

but others like Switzerland are facing a whopping 39%.

Now we're seeing global markets react with stocks dropping around the world.

The president has also announced another pause on tariffs separately for our biggest trading partner, Mexico.

That is where we're going to start this week's news roundup, our experts this week. are Arthur Delaney, senior reporter for Huff Post. Welcome back, Arthur. Great to be here. Wendy Benjaminson, Washington Senior Editor for Bloomberg News. Hi, Wendy. Hi, thanks for having me back. And Jeff Mason, White House correspondent for Reuters. Great to have you, as always, Jeff. Great to be with you. Wendy, let's just reset with the big picture here.

Can you catch us up on what was supposed to happen today and what changed last night with the executive orders?

Right.

So last night, and yeah, all day yesterday, Trump was setting the new tariffs around the world.

Some, as you said, were the product of negotiations.

Some of them were what his preferred tactic, as he said, which is just to send them a letter with,

Here's Your New Rate.

And he did that with Switzerland and other countries.

But there are so – and now they're going to be implemented next week.

If nothing, if you don't reach an agreement. If you don't reach an agreement. And that's just it.

...