July 9 marked the end of President Trump’s 90-day pause on his so-called reciprocal tariffs. Now that deadline has passed … what has actually changed? The FT’s senior trade writer Alan Beattie discusses with former trade negotiator Dmitry Grozoubinski, author of ‘Why Politicians Lie About Trade’. Dmitry explains why Trump’s tariff threats are as ineffective as they are unusual, how countries are approaching his ‘vibes-based’ trade policy, and what Dmitry would advise if he was negotiating with the US now.

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Trump’s tariff shambles is a helpful warning to the world: https://www.ft.com/content/d7509e0a-3348-4150-9633-3e996d836d7c

Donald Trump threatens new tariffs on Canada:

https://www.ft.com/content/18a007c2-b945-4c6e-8f1d-d10e094f8c6d

Alan Beattie is the FT's senior trade writer. He writes the Trade Secrets newsletter every Monday.

Read Alan’s columns here: https://www.ft.com/alan-beattie

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Presented by Alan Beattie. Produced by Mischa Frankl-Duval. Flo Phillips is the executive producer. Manuela Saragosa is the FT’s acting co-head of audio. Original music and sound design by Breen Turner. Mix by Sam Giovinco.

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