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Post Reports

Trump’s tariffs are finally here. Now what?

Post Reports

The Washington Post

Daily News, Politics, News

4.45.1K Ratings

🗓️ 7 August 2025

⏱️ 25 minutes

🧾️ Download transcript

Summary

David Lynch covers trade for The Post, and he joins us to explain how the tariffs will affect consumer prices and the broader economy. 

David is the author of the forthcoming book “The World’s Worst Bet: How the Globalization Gamble Went Wrong (And What Would Make It Right).”

Today’s show was produced by Sabby Robinson. It was edited by Maggie Penman with help from Reena Flores. It was mixed by Sam Bair. 

Subscribe to The Washington Post here.

Transcript

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0:00.0

We've been hearing about President Donald Trump's tariffs for months.

0:06.2

And honestly, I kind of just stopped thinking about them.

0:11.3

Because first they were on...

0:14.1

Mr. President, is there anything China, Canada, and Mexico can do tonight

0:18.7

to forestall your implementation of tariffs tomorrow.

0:22.6

No, nothing. Not right now, no.

0:25.6

And then they were off.

0:27.6

It looks like the U.S. has blinked, because in the last few minutes,

0:30.6

I'm just looking at the markets now.

0:31.6

They've rocketed up. The U.S. stock market up 6% on that news.

0:36.6

The deadlines kept moving.

0:39.1

Just literally in the last couple of minutes,

0:41.7

we're hearing that President Trump has announced

0:44.0

that there will be a 90-day pause on reciprocal tariffs

0:49.2

for all countries except China.

0:51.0

Sometimes it seemed like the tariffs weren't actually going to

0:54.4

happen, but the threat of them were just negotiating tactics. Huge deal. Yeah. Was tough negotiations.

1:02.1

I knew it at the beginning, and it was indeed very tough, but we came to good conclusions for both

1:07.8

side. So again, congratulations and many things.

1:11.8

Thank you very much. Thank you.

1:13.6

But then I woke up this morning and the tariffs are here and they are real.

1:21.3

So now what?

...

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