# A case of Schrödinger’s tariffs

An episode of [The Story of Money](https://invisiblenetwork.ai/podcast/1376303362), 9 Jul 2025, 20 min.

Audio: https://sphinx.acast.com/p/acast/s/behindthemoney/e/686d2d2b8d3d6839f4914dfd/media.mp3

It’s been exactly 90 days since US President Donald Trump paused most of his ‘reciprocal’ tariffs. With just a 10 per cent blanket tariff on all imports and a higher tariff on China, economists predicted the American economy would feel the heat pretty quickly. But the sky hasn’t fallen yet – the world’s largest economy is holding strong. The FT’s US economics editor Claire Jones explains why that is and when markets may start to feel the effects of Trump’s tariffs. Clips from CBS News, CNBC, TODAY - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: Donald Trump renews threat to hit trading partners with steep tariffs Tariffs on household goods bring home costs of Trump’s trade wars US tariff receipts surge in Donald Trump’s trade war US narrows trade focus to secure deals before Donald Trump’s tariff deadline - - - - - - - - - - - - - - - - - - - - - - - - - - Follow Claire Jones on X (@senoj_erialc) and Saffeya Ahmed on X (@saffeya_ahmed), or follow Saffeya on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

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