Europe had a rocky ride during President Trump's first term, but it was largely spared from significant tariffs. The world is different this time around. Former European Commission trade official Rupert Schlegelmilch joins to explain (34:32).

Shipments of small packages from China have skyrocketed, but the de minimis policy that excludes them from tariffs may end. Chris Casey (Congressional Research Service) joins to explore the history of the US de minimis policy and Amit Khandelwal (Yale University) shares economic research into the question of what happens if the policy ends (37:33).

President Trump first imposed tariffs on steel and aluminum in 2018, but this time it's different. Ana Swanson (New York Times) joins to explain (32:23).