From the New York Times, I'm Natalie Kittrow F. This is The Daily.

After months of delaying his most extreme tariffs, President Trump is now threatening to revive the most aggressive version of his global trade war.

Now, America's trading partners, investors, and consumers are bracing for impact.

Today, I speak with three of my colleagues, Anna Swanson, Maggie Haberman, and Ben Castleman,

about what we can expect and what Trump's endgame might be.

Thank you. about what we can expect and what Trump's endgame might be. It's Thursday, July 10th.

Welcome to the Roundtable Economic Edition. Anna, nice to have you. Thanks for having me. Ben,

thank you for being here in the studio. Great to be here. Maggie, it is always a pleasure.

Natalie, it is so nice having you here, even if I'm not actually with you. We wish you were here.

I want to just set the table for us a little bit.

90 or so days ago, Trump instigates a global trade war on a scale that the world has never

really seen before. Reciprocal tariffs on a bunch of countries. It's this seismic economic event.

The U.S. stock market plunge. Trillions of dollars in value are wiped out in a matter of days.

I honestly can't remember an economic event like this. And then because of all that fallout and the outcry,

Trump presses pause on a lot of it. The stock market recovers. And then everyone gets kind of used to the idea that the

trade war is on what seems like a hiatus. Now it feels like to the degree that it was ever suspended,

the trade war is back. He's lobbying these new threats against countries again on Wednesday. So, Anna, can you just lay out for me

the current state of play? Yeah. So actually, this trade war was paused, but it never truly went away.

The president had paused his tariffs for 90 days in April to try to encourage other countries to come to the United States and do trade deals instead of getting hit with tariffs.

And in the last three months, we've seen this flurry of activity with other countries trying to get some time on the schedule of U.S. officials to

negotiate these deals. But in the meantime, the president did actually go ahead with other tariffs

on cars and steel, copper, pharmaceuticals. So even though, you know, the biggest global

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