After months of delaying his most extreme tariffs, President Trump is now threatening to revive the most aggressive version of his global trade war.

America’s trading partners, investors and consumers are bracing for impact.

The Times journalists Natalie Kitroeff, Ana Swanson, Maggie Haberman and Ben Casselman sit down to discuss what we can expect and what Mr. Trump’s endgame might be.

Guest:

• Ana Swanson, who covers trade and international economics for The New York Times.
• Maggie Haberman, a White House correspondent for The New York Times.
• Ben Casselman, the chief economics correspondent for The New York Times.

Background reading: 

• Mr. Trump revived his trade war, threatening steep tariffs on allies unless they reach deals with the U.S.
• What is a trade deal? He takes an expansive view.
• The threatened tariffs aim to settle scores with countries, no matter their size.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

Photo: Alyssa Schukar for The New York Times

Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.