Kyle Risdahl

Martha, thanks so much.

Thank you.

There are, of course, a whole lot of layers to this tariff ruling, how it's going to affect the economy, as Martha and I were just talking about, how it's going to affect businesses and consumers, and also how it's going to affect the people who are deep in the nuts and bolts of it.

That's why we gave Gretchen Blau a call.

She's a customs brokerage manager at Logistics Plus.

She's in Erie, Pennsylvania.

Wall Street today.

I don't want to say traders didn't really care about the tariff ruling, but they kind of didn't.

We'll have the details when we do the numbers.

Global trade is a complicated beast indeed, one that the president, as we are all only too well aware, takes a special interest in.

And on that topic, we learned yesterday the trade deficit barely budged despite President Trump's now mostly ruled illegal tariffs.

Remember, his theory was and is that higher import taxes would get companies to make things here and get consumers to buy those things that were made here.

What the tariffs have done, in point of fact, is mostly wean American consumers off Chinese goods.

Imports from that country are down about 30 percent.

Or are they?

Marketplace's Kristen Schwab explains transshipping.

There's a whole bunch of tariffs that were not struck down this morning, as Martha and I were talking about, including some from the first Trump administration.

And there are more coming if the president is to be taken at his word.

So we called April Hemmes earlier.

She's the corn and soybean farmer that we know out in Iowa.