Luke Vargas

And on such a consequential day for global trade, it's fitting we've got a pair of journal reporters with us this morning from opposite ends of the world. Kim McRae is in Brussels and Jason Douglas is in Singapore.

And on such a consequential day for global trade, it's fitting we've got a pair of journal reporters with us this morning from opposite ends of the world. Kim McRae is in Brussels and Jason Douglas is in Singapore.

Jason, you have been putting out a number of big reports in recent days, reckoning with the enormity of the changes coming to the global trade system, a new reality that is now very much upon us.

Jason, you have been putting out a number of big reports in recent days, reckoning with the enormity of the changes coming to the global trade system, a new reality that is now very much upon us.

Speaking only, Jason, about the impact of trade volumes, we saw a projection today from Capital Economics about Chinese exports and just there are some potentially massive changes coming.

Speaking only, Jason, about the impact of trade volumes, we saw a projection today from Capital Economics about Chinese exports and just there are some potentially massive changes coming.

Kim, the tariff rates are really highest for many of the Asian countries that Jason was just mentioning, but the outlook fundamentally is no better in the EU, is it?

Kim, the tariff rates are really highest for many of the Asian countries that Jason was just mentioning, but the outlook fundamentally is no better in the EU, is it?

Yeah. Future tariffs, including those that could hit pharmaceutical products. President Trump saying yesterday those levies could be coming very shortly.

Yeah. Future tariffs, including those that could hit pharmaceutical products. President Trump saying yesterday those levies could be coming very shortly.

Kim, these reciprocal tariffs are kicking in today despite some pretty active tariff diplomacy that's been undertaken by a number of countries. We actually heard from U.S. Trade Representative Jameson Greer about this yesterday. He was testifying on Capitol Hill.

Kim, these reciprocal tariffs are kicking in today despite some pretty active tariff diplomacy that's been undertaken by a number of countries. We actually heard from U.S. Trade Representative Jameson Greer about this yesterday. He was testifying on Capitol Hill.

Kim, we had the EU Parliament's Trade Committee chair on last Friday's podcast. He's actually part of the delegation in Washington this week, offering concessions, potentially, while also pledging to hit back against the U.S. Take us into this strategy.

Kim, we had the EU Parliament's Trade Committee chair on last Friday's podcast. He's actually part of the delegation in Washington this week, offering concessions, potentially, while also pledging to hit back against the U.S. Take us into this strategy.

Kim, in terms of what the EU is voting on today, these countermeasures targeting the U.S., they're getting pretty granular, are they not, in terms of what they might be targeting or sparing?

Kim, in terms of what the EU is voting on today, these countermeasures targeting the U.S., they're getting pretty granular, are they not, in terms of what they might be targeting or sparing?

Jason, in our final moments, how does that EU approach compare with what we've been seeing from some of the major Asian economies?

Jason, in our final moments, how does that EU approach compare with what we've been seeing from some of the major Asian economies?

Journal reporter Jason Douglas is in Singapore, and Kim McRaehl is in Brussels. Jason, Kim, thank you both so much. Thanks.

Journal reporter Jason Douglas is in Singapore, and Kim McRaehl is in Brussels. Jason, Kim, thank you both so much. Thanks.