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One trade deal down, sort of. How many more to go from American public media. This is Marketplace.

In Baltimore, I'm Amy Scott in for Kai Rizdahl. It is Friday the 9th of May.

Good to have you with us.

The first shipping containers full of Chinese goods,

subject to that new 145% tariff,

have begun arriving in U.S. ports,

just as trade officials from the two countries

are preparing to meet in Switzerland tomorrow.

And after the Trump administration announced a framework for a deal with the U.K. yesterday,

joining me to talk about the state of trade negotiations and the rest of the economic week that was are Courtney Brown,

economics reporter at Axios and Sudeep Reddy, senior managing editor at Politico. Hey, you two.

Hi, Amy.

So before we get to global trade, Sudip, let's start here at home. This week, the Fed said it would leave short-term interest rates alone, despite some signs of a weakening economy or rising risks of a weakening

economy. Sudeep, how do you read the messaging that came out of this week's meeting?

So, Jay Powell, in his press conference, used variations of wait, wait and see a couple dozen times,

and that's basically what they're trying to do is wait and see a couple dozen times, and that's basically what they're

...