Opinion | Steve Rattner on Just How Bad Things Will Get Under Trumps Tariffs

In this episode of “The Opinions,” the deputy Opinion editor Patrick Healy and contributing Opinion writer, investor and economic analyst Steven Rattner break down how Trump’s “reciprocal tariffs” are already shaking the global economy — and it hasn’t even been 24 hours.Below is a transcript of an episode of “The Opinions.” We recommend listening to it in its original form for the full effect.You can do so using the player above or on the NYT Audio App, Apple, Spotify, Amazon Music, YouTube, iHeartRadio or wherever you get your podcasts.The transcript has been lightly edited for length and clarity.Patrick Healy: I’m Patrick Healy, deputy editor of New York Times Opinion.

And this is The First 100 Days, a weekly series examining President Trump’s use of power and his drive to change America.Audio clip of Donald Trump: This is one of the most important days, in my opinion, in American history.It’s our declaration of economic independence.Trump’s trillion-dollar hike on imports has sent shock waves across the globe.

As one professor of trade policy told The Times, “Trump has chosen to blow up the system governing international trade.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe....