Donald Trump is now aiming his trade war squarely at China. As the tit-for-tat tariff battle keeps escalating, investors are fleeing to safe assets. What will happen next? Germany’s Friedrich Merz finally signs a deal for a coalition government (10:12). And remembering Betty Webb, who worked at Britain’s wartime codebreaking centre Bletchley Park (19:36).

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Just 12 hours after Donald Trump launched his searing regime of tariffs, he paused many of them for 90 days. What's next for global trade? An outlandish proposal to build data centres in space (8:14). And why “The Great Gatsby” is just as relevant, 100 years on (15:58).

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As Donald Trump’s sweeping tariffs take effect, our correspondent explains how one of America’s most profitable companies may navigate the trade war. Are class divides in Britain softening (9:28)? And Republican influencers define what it is to be a conservative woman (16:08).

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More than 36,000 migrants crossed the English Channel in small boats last year. Our correspondent investigates the increasingly sophisticated business strategies of the criminals who smuggle them. As the planet heats, wildfires in East Asia are becoming fiercer and more frequent (10:36). And why ordinary Americans are falling out of love with their former international allies (18:31).

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Since Donald Trump announced punishing tariffs on “Liberation Day” last week, stock markets have fallen and governments and businesses scrambled to respond. Our correspondent discusses the impact on the global economy. Do personalised diets really improve gut health (9:16)? And gasp at the science of how seals spend so long underwater without breathing (16:13).

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South Korea has been paralysed since its president declared martial law in December. Even after his impeachment, politicians face a divided polity and battered economy. Why governments should pay attention to the “Henry” – High Earner, Not Rich Yet (9:49). And what tiffs over tofu teach us (15:38).

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After months of bluster, he’s finally done it. At a ceremony in the White House Rose Garden, Donald Trump overturned decades of American trade policy with a simple signature. The new wave of trade restrictions, if implemented in full, will raise tariffs to the highest level in more than a century. So how bad could it get?

Hosts: Mike Bird and Ethan Wu. Guests: The Economist’s Simon Rabinovitch; and Douglas Irwin, a professor of economics at Dartmouth College.

Transcripts of our podcasts are available via economist.com/podcasts.

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SHOW-NOTES TEXT (with links and timestamps; 60 wds max)

Even in the run-up to Donald Trump’s “Liberation Day” tariff hikes, few had expected such colossal levies. Our correspondent explains how they will shake America’s economy and global trade. After Sudanese government forces retake Khartoum, will this alter the course of the civil war (10:32)? And Shonda Rhimes is shaping watching habits (18:12).

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