Scott Simon

Good to be with you.

Good to be with you.

Good morning, Lila.

Good morning, Lila.

Good morning, Lila.

I think they're surprised by the magnitude. For example, we're talking about a 20% tax on goods coming in from the European Union, much higher than the U.S. charges today. In other ways, though, this is not surprising.

I think they're surprised by the magnitude. For example, we're talking about a 20% tax on goods coming in from the European Union, much higher than the U.S. charges today. In other ways, though, this is not surprising.

I think they're surprised by the magnitude. For example, we're talking about a 20% tax on goods coming in from the European Union, much higher than the U.S. charges today. In other ways, though, this is not surprising.

Despite the United States' wealth and power, Trump has been complaining for decades that this country is being taken advantage of, and he's determined to fight back with tariffs, even as financial markets have been flashing red, saying, don't do it. Now, Canada and Mexico, two of our biggest trading partners, are being spared these additional tariffs for now.

Despite the United States' wealth and power, Trump has been complaining for decades that this country is being taken advantage of, and he's determined to fight back with tariffs, even as financial markets have been flashing red, saying, don't do it. Now, Canada and Mexico, two of our biggest trading partners, are being spared these additional tariffs for now.

Despite the United States' wealth and power, Trump has been complaining for decades that this country is being taken advantage of, and he's determined to fight back with tariffs, even as financial markets have been flashing red, saying, don't do it. Now, Canada and Mexico, two of our biggest trading partners, are being spared these additional tariffs for now.

But Trump is slapping stiff due taxes on imports from economies around the world, even for products we cannot produce in the U.S., like the coffee and banana you might be having for breakfast this morning.

But Trump is slapping stiff due taxes on imports from economies around the world, even for products we cannot produce in the U.S., like the coffee and banana you might be having for breakfast this morning.

But Trump is slapping stiff due taxes on imports from economies around the world, even for products we cannot produce in the U.S., like the coffee and banana you might be having for breakfast this morning.

Trump calls these reciprocal tariffs, saying they're simply designed to match the trade barriers that other countries impose on U.S. exports.

Trump calls these reciprocal tariffs, saying they're simply designed to match the trade barriers that other countries impose on U.S. exports.

Trump calls these reciprocal tariffs, saying they're simply designed to match the trade barriers that other countries impose on U.S. exports.

But the White House later acknowledged it would be too hard to calculate the actual trade barriers from every other country. So they just picked an arbitrary number they thought would be high enough to chip away at each country's trade surplus with the U.S.

But the White House later acknowledged it would be too hard to calculate the actual trade barriers from every other country. So they just picked an arbitrary number they thought would be high enough to chip away at each country's trade surplus with the U.S.

But the White House later acknowledged it would be too hard to calculate the actual trade barriers from every other country. So they just picked an arbitrary number they thought would be high enough to chip away at each country's trade surplus with the U.S.